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And what's really troubling Coast....GTEM.PK is a tiny company with small revenues....why is it taking soooooooo long???
Perhaps the company can update you on the following paradigm shifting events:
VozBrazil
Anwhere Caller
Strat Testing - hard dates - untethered flight
Dates of Financial Restatements as well as unreleased - deliquent statements
Cash on Hand
# of employees
Status of Lexington Payment
This would be a nice start.
TIA
Nerd...show me the money...you know by way of the PPS nobody trusts these proven to date puffers
Looks like they need a Hotzone on every other block?
10 months for 56,000 subscribers...Oh Boy
"This site will be updated as the NMC network expands and goes live."
Are we to assume the network isn't live? WOW....the PR machine has been churning out some contradicting smoke signals.
So is the network live???
TIA
Mide, perhaps you're right...but...I don't think so. In fact I believe the total meltdown (.014 pre-reverse split)is firmly underway with the SEC and the pending financial re-statements delivering the final blows. Assets moving to former insiders.
At what point do you say....if it walks like a duck and talks like a duck...damn it...it's a duck.
A valid point Mide, but I doubt they're restricted by law...just counsel. However, prior to the SEC investigation...no one was purchasing squat...gotta go back to August 2005 when Big Bad Timmy Huff plopped down his cold hard cash to pick up 4,000 shares.
Face it Mide...insider purchasing has been nil on this turd going way back.
Nerd...lol...what next? Are you going to tell me that the K-Minnows and Leinwand only have altruistic intentions?
Come on Nerd... these saps aren't willing to wager their own money on their own company.
Nerd...why don't insiders purchase the stock on the open market if it's so undervalued and they know that: Pachuca is kicking butt. That the CWID is yielding more gov. contracts to GTEM.PK than you've had hot meals. That Raytheon is going to buy out Sanswire.
Where's the beef Nerd???
Nerd...please tell us all what the true value of GTEM.PK is...certainly you must be buying the stock in droves if you feel so strongly that "the market" has overly discounted it?
TIA
Nerd, are you suggesting that the market has been too efficient in regards to GTEM.PK?
Let's review shall we: GTEM.PK never has had a meaningful Institutional base...but...what it did have has left the party...largely due to de-listing and penny stock status. Moreover, the tutes that did hold were total market funds or nano funds who performed nada DD on GTEM.PK.
The small investor (such as yourself) have responded in predictable fashion - many sold (a wise decision IMHO), some stayed but the supply of available shares remained...in walks mgt. - dumping more shares on the market (for survival) and what you have is a market makers wet dream. Don't give the sellers squat and when the few buy orders come in....fleece them (as evidenced by the poor sap this morning that purchased a whopping 1,200 shares @ .25 only to see his new paradigm shifting investment give back 10% on the very next odd lot sale. Cruel world ain't it?
So...you own a penny stock with pitiful volume. You own a stock ripe for MM manipulation. You own a stock where the underlying company's only mechanism for paying the bills is by diluting you further. Meanwhile they're handing over $45,000 to former insiders that by even Mide's account is a conflicted situation and you wonder where the value is???
The market is right and the price is even more predictable. And trust me...it can and will go lower.
"how a possible default on the Lexington purchase would impact going operations"
like all things GTEM.PK -
Centerline is a wholly owned subsidiary - they can spin it into BK or let a possible purchaser assume the liability...or potentially negotiate something with Lexington.
Probably won't affect current ops. but it certainly reflects poorly on their previous hype for Centerline...their ability to forge relationships going forward...etc.
Frank, clearly your unfazed by the the way GTEM.PK conducts business. And for that your investment dollars are being severly punished.
Nerd, are you privy to any "angel investor" funding for GTEM.PK? Certainly the deep, deep pockets of Caterham or perhaps our old friends @ Rubikon could "dust off" a medium sized suitcase of Benjamins for this paradigm shifting opportunity of a lifetime?
You are correct Frank...my assumption. Everytime I email Rob about something you would construe as "negative"....I never seem to get a reply.
Why is that?
"Scion,
Can you please call or e-mail the company for us and then report back to the board?"
I'd be happy to...just as soon as Rob answers my email about the Lexington default.
thanks
"Seems like we're seeing conflicting info and trying to make some sense of it."
It's called the Globetel way.
p.s. Did Uli earn his $45,000 this month?
TIA
Nerd, when is the annual Shareholder meeting going to take place. Have you received a proxy yet?
TIA
Heck...I don't focus on the technology that GTEM.PK holds no patents too...why bother when they're siphoning off $45,000 per month to former insiders and transferring other assets to former insiders? Give me a little credit here...I've got a birdseye view of a shareholder rape & pillage....the same one shareholders have...but seem unconcerned about.
The more things change at GTEM.PK the more they stay the same.
Where are the patents Nerd? Small details never bother your business acumen.
"it was Uli that started the Russian deal without a deposit and the venture failed. He then told us all about the great German venture that he never delivered on."
Your right...so why give this known loser / potential fraud $45,000 a month?
Oh right...the past is the past...hey...it's your money...why not up it to $60,000 per month. Then ULI will be really motivated!!!
I have no doubt the SEC investigation will produce deleterious effects. Not sure of the breadth of the investigation as to "current events"...but no matter....when they do actually file the re-statements as well as past due filings....all avenues to new capital will be closed and they'll form a new shell. The common will be wiped and perhaps at that time...some here might say...hey...they stole our money!
JMHO
When and where is the next shareholder's meeting?
TIA
Yes, it's all good for ULI....but dubious for GTEM.PK shareholders. But then again, you seemed un-phased by Managements' actions...ot the lack of ind. directors, or the PPS. So why should $45,000.00 a month to two former insiders bother you?
Well that only makes sense Risk, afterall the K-Minnows are siphoning all the cash that direction. Right in front of shareholders eyes!!
Another Interesting Tidbit:
9.33 million shares outstanding = $1.9 million (assuming they could find a buyer)....get ready for more shares to be introduced.
Of course I'm firmly in Risk's camp on this - they're rapidly moving the assets to former insider's new companies - Magic Money, Trimax, Centerline....won't be long now - no cash - no assets.
Right in front of common shareholder's eyes!!!!
JMHO
Let's not forget where these "dreams" all started....a 4 cent penny stock pumped on Raging Bull...nothing much different now as compared to then....capitalization solely from shareholder dilution. A few individuals taking all of that money....except....they've been caught. So now the 4 cent stock is worth a tad more than a penny and again they try to raise the wreck....do you still believe in the "dream"???
This is a perfect example of what we mean when we say "the past is the past".
Let's just hope no former Centerline employees choose to sing like a bunch of canaries!!
I agree with your assessment completely. They'll wait for Lexington to pursue them through litigation (specific performance). I can guarantee you this much...they won't be releasing a PR stating that they owe two months of what they're siphoning off to ULI.
Risk...think they'll make the required payment to Lexington?
Will you ever hold GTEM.PK accountable for anything? Forget the stock options. But don't forget the millions paid to insiders for "consulting services". Don't forget about the non-recourse employee loans. Don't forget Timmy's over inflated salary and ridiculous travel expenses.
If they hadn't blown these millions...they might have had the cash to build at least one profitable segment.
But of course this assumes that was ever the real purpose of Globetel corp.
Not entirely true, we do know the following:
SEC Investigation is on-going
Shareholder lawsuit on-going
Money being siphoned off to ULI on-going
Money about be to sent off to Lexington
Money being spent on retro-audits
Money being spent on shareholder lawsuit defense.
Come to think of it....the $750,000 recently raised should be extinguished shortly.
How much more does a prudent investor really need to know?
Does this mean that Khoury's signature won't be on the check to Lexington. Does this mean that Khoury won't sign off on the revised 10-Qs & 10-Ks?
The past is the past indeed!
"is on schedule"...."in the near future"
That's our CEO!!! WOOHOO!!
Anyone know GTEM.PK's current headcount?
"Posts are deleted when we feel they violate terms of use."
Nerd, it was by any analysis a joke. Huff knew they couldn't turn a buck hacking wholesale. It was, in fact - manufactured revenues to pacify the passive but rabid shareholders Indeed they paid for these zero return assets. Don't kid yourself if you think they thought they could make a buck as a C Tier wholesaler.
Do we know if Centerline has been sold / given away and is it by pure coincidence going to a former insider (Magic Money).
I ask this question to determine if GTEM.PK will be liable to Lexington for the big payment.
TIA
"As indicated in the email from Bleckman, VozBrasil is working just fine"
Since it works so well, are people using it? What's the revenue stream look like?
TIA
Nerd, safe to assume that whoever acquires the assets and liabilites of Centerline will satisfy the Lexington obligation (unless structured otherwise)...if not, monies will soon be owed.
Another Hic-up:
Oops...the PPS is a tad lower than $1.85
Lexington
On May 26, 2006, the Company's wholly-owned subsidiary, Centerline Communications, LLC entered into an agreement to acquire specified assets and contracts of Lexington Global Net, LLC ("Lexington"), a telecommunications systems operator located in Atlanta, Georgia, with operations in the United States and Latin America, primarily in the country of Colombia. The acquisition transaction, which closed during the three months ended June 30, 2006, was paid with $25,000 cash and $100,000 of the Company's common stock to be paid based on an agreed upon value of $1.85 per share for a total of approximately 54,054 shares, to be issued in increments during a period from 60 to 180 days after the execution of the agreement. However, should the market price of the shares delivered decrease to less than $1.85 per share, one year from the date of execution of the agreement, the Company shall make up the difference between the market price and $1.85 by the issuance of additional shares or by payment of said difference in cash or a combination of cash and stock at the purchaser's discretion.
The assets acquired under the Lexington agreement consist of property, rights, interests and other tangible and intangible assets, including rights to relationships (contractual and non-contractual) with Lexington's customers and vendors, and certain government authorizations. The tangible assets acquired are considered of negligible value, and, accordingly, the Company allocated the entire purchase price of $125,000 to the intangible assets acquired.
Management anticipates that the associations and opportunities related to the Lexington assets will enable the generation of significant, on-going, profitable sales of telecommunications traffic through numerous customers and vendors.
Risk, amazing isn't it....the K-Minnows are bleeding the cash away to former insiders and the shareholders are more concerned about the next blimp sighting.