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Konastrat, just wanted to let you know you can still post on the GTEM TA site. You havn't been banned from there yet because you never posted anything.
http://www.investorshub.com/boards/board.asp?board_id=3694
Ah-choo
If it is the Sec or the IRS, I was making a point violations are done all the time. Nether one can regulate everything. Not everyone is caught, even if they are they are slapped with a small fine. Last post on this subject.
eqbeck, I forgot how honest the SEC keeps everyone. Did you know if you found a $10.00 bill on the ground you are legally supposed to report in your income taxes.
Same one.
Seabass, you give up on this board or did you change your ID?
Good things happening to Tern and I see you posting on the Yahoo board. Like to see the buyout in May so most of my gains would be long term, been paying way to much in taxes and haven't held a stock for over a year in the last 6 years.
2create, Thank you for the warm response, much better then I expected. I have traded this a couple of times and will probably purchase some more tomorrow. While I am reading up on this company I still am sceptic, "if it sounds too good to be true, it probably is" Hopefully during my swing trades the stock shoots up sharply and I will hold during the run.
gtewillwin, Globetel is not in the best condition to dictate funding terms. Hedge funds will want leeway so they can short it down to the price they paid once the price goes up. Especially if it is a stock purchase at a discount.
Message In Reply To:
followingte-I think you are wrong. They are not going to force a funding deal at this level and then drive the price up!
"You're about a year behind in your thinking."
When did this company go public?
LOL
I Like your link!
eqbeck,Don't know if the subscribers used thier option to purchase up to $3,000,000. What you show was the date of the announcement... no big deal either way.
Closing Date: Time on any date that shall be on or before October 1, 2006, but in no event later than 45 days after completion of subscription documents satisfactory to the Placement Agent, subject to notification of satisfaction of the conditions.
WHEREAS, the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Subscribers, as provided herein, and the Subscribers, in the aggregate, shall purchase up to Three Million Dollars ($3,000,000), subject to the exercise of the Over-Allotment, as defined below
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D06...
$4,854,745,000 in metals all they have to do is dig it. Stock is
10.5 cents. I'll believe it when I see it. Sounds like fools gold from Russia of all places.
The last financing they received was in Oct. for maybe 3 million. Time for more financing. If gtem made the Mexico deal an exciting PR the higher price would scare off potential fund investors. With the SEC case not solved gtem needs to have a couple of aces up their sleeve to lure much needed funds. I expect the next PR to be a funding deal.
The aces would be after funding:
Strat move to Edwards.
Signed Mexico deal
Then the games begin all over again
The risk to rewards appear to be tilting for the better. IMO
I am not going to pump this company but I think this is a good entry point here and I would expect a couple of PR's soon. For once they finally partnered (hopefully) with someone who knows how to make money.
And I have been asked many times what is my purpose here. This should explain... to make money.
Nerd, we could go on and on about this but the SEC investagation will answer all questions in due time. You say the complaint never occured again.
How do you know when you don't know what the complaint was. Dohan only accepted the information given to them and made suggestions which were not disclosed publicly. Here are remarks from the 2005 yearly report which to me looks like Globetel may have been uncertain of thier procedures:
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.
None.
ITEM 8A. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
As required by Rule 13a-15 under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), the Company carried out an evaluation under the
supervision and with the participation of the Company's management, including
the Chief Executive Officer and President and the Chief Financial Officer, of
the effectiveness of the Company's disclosure controls and procedures as of
December 31, 2005. In designing and evaluating the Company's disclosure controls
and procedures, the Company and its management recognize that there are inherent
limitations to the effectiveness of any system of disclosure controls and
procedures, including the possibility of human error and the circumvention or
overriding of the controls and procedures. Accordingly, even effective
disclosure controls and procedures can only provide reasonable assurance of
achieving their desired control objectives. Additionally, in evaluating and
implementing possible controls and procedures, the Company's management was
required to apply its reasonable judgment. Furthermore, in the course of this
evaluation, management considered certain internal control areas, including
those discussed below, in which we have made and are continuing to make changes
to improve and enhance controls. Based upon the required evaluation, the Chief
Executive Officer and the Chief Financial Officer concluded that as of December
31, 2005, the Company's disclosure controls and procedures were effective (at
the "reasonable assurance" level mentioned above) to ensure that information
required to be disclosed by the Company in the reports it files or submits under
the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission's rules and forms.
69
From time to time, the Company and its management have conducted and will
continue to conduct further reviews and, from time to time put in place
additional documentation, of the Company's disclosure controls and procedures,
as well as its internal control over financial reporting. The Company may from
time to time make changes aimed at enhancing their effectiveness, as well as
changes aimed at ensuring that the Company's systems evolve with, and meet the
needs of, the Company's business. These changes may include changes necessary or
desirable to address recommendations of the Company's management, its counsel
and/or its independent auditors, including any recommendations of its
independent auditors arising out of their audits and reviews of the Company's
financial statements. These changes may include changes to the Company's own
systems, as well as to the systems of businesses that the Company has acquired
or that the Company may acquire in the future and will, if made, be intended to
enhance the effectiveness of the Company's controls and procedures. The Company
is also continually striving to improve its management and operational
efficiency and the Company expects that its efforts in that regard will from
time to time directly or indirectly affect the Company's disclosure controls and
procedures, as well as the Company's internal control over financial reporting.
As the Company moves successfully forward along its various product lines, new
people have joined the Company while others have been assigned new and expanding
responsibilities. In addition to establishing up-to-date financial controls
throughout the Company to reflect this new organization and expanding market
development, GlobeTel has updated various standards and compliance measures to
reflect its emerging global presence.
This includes a strict adherence to the Foreign Corrupt Practices act, an
updated and enhanced Code of Conduct and Business Ethics as well as its
Corporate Governance Statement. We have made significant changes in the
Company's internal controls that have affected the internal controls subsequent
to the date of the evaluation. We have established a financial reporting
controls committee, which meets quarterly to address corporate financial issues.
We have added two more employees to its accounting staff, including an
experienced full-time Controller and Accountant. Additionally, we have purchased
a financial reporting software tool to help analyze financial data and to
expedite the consolidation and reporting process. We have purchased a new
integrated accounting system which will be implemented during the first quarter
of 2006. In addition, the Company hired a consultant to perform an internal
control review for the purpose of evaluating the Company's internal controls. As
a result, additional controls and procedures were implemented. The Company has
also restructured departmental responsibilities and instituted a budgeting
process.
Nerd, followingte did GlobeTel respond to the direction of Dohan? Of course they did.
I don't know what other discussions they had other then the ones posted. I wouldn't say "of course they did" unless they were mentioned. I would assume NOT otherwise the SEC wouldn't be investigating. The last paragraph read:
There have been no other significant changes in the Company's internal controls,
other than the improvements discussed above, or in other factors that could
significantly affect internal controls subsequent to the date of the evaluation.,
Jetmek, you'r right Dohan & Co. did make comments about material controls:
For the year ended December 31, 2003, the Company's independent auditors, Dohan
and Company, CPA's, P.A. ("Dohan") advised management and the Board of Directors
by a letter dated March 30, 2004, that in connection with its audit of the
Company's consolidated financial statements for the year ended December 31,
2003, it noted certain matters involving internal control and its operation that
it considered to be a material weakness under standards established by the
American Institute of Certified Public Accountants. Reportable conditions are
matters coming to an independent auditors' attention that, in their judgment,
relate to significant deficiencies in the design or operation of internal
control and could adversely affect the organization's ability to record,
process, summarize, and report financial data consistent with the assertions of
management in the financial statements. Further, a material weakness is a
reportable condition in which the design or operation of one or more internal
control components does not reduce to a relatively low level the risk that
errors or fraud in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. Dohan
advised management and the Board of Directors that it considered the following
to constitute material weaknesses in internal control and operations: (i) the
Company's failure to adequately staff its finance group to effectively control
the increased level of transaction activity, address the complex accounting
matters and manage the increased financial reporting complexities and (ii) the
Company's current monthly close process does not mitigate the risk that material
errors could occur in the books, records and financial statements, and does not
ensure that those errors would be detected in a timely manner by the Company's
employees in the normal course of performing their assigned functions. Dohan
noted that these matters were considered by them during its audit and did not
modify the opinion expressed in its independent auditor's report dated March 30,
2004.
As noted above, the Company has made and is continuing to make changes in its
controls and procedures, including its internal control over financial
reporting, aimed at enhancing their effectiveness and ensuring that the
Company's systems evolve with, and meet the needs of, the Company's business. As
further noted above, the Company is also continually striving to improve its
management and operational efficiency and the Company expects that its efforts
in that regard will from time to time directly or indirectly affect the
Company's controls and procedures, including its internal control over financial
reporting. Toward these ends, the Company has added two more employees to its
accounting staff and has increased the utilization of its outside accounting
consultants.
Changes in Internal Control Over Financial Reporting
As the Company moves successfully forward along its various product lines, new
people have joined the Company while others have been assigned new and expanding
responsibilities. In addition to establishing up-to-date financial controls
throughout the Company to reflect this new organization and expanding market
development, GlobeTel has updated various standards and compliance measures to
reflect its emerging global presence.
88
This includes a strict adherence to the Foreign Corrupt Practices act, an
updated and enhanced Code of Conduct and Business Ethics as well as its
Corporate Governance Statement. As an integral component of the financial
controls foundation, GlobeTel has established a Financial Reporting and Controls
Committee that addresses all financial control issues on an on-going basis and
makes its recommendations directly to the CEO. This Committee, headed by the
CFO, includes information technology (IT), both internal as well as external
procedures for all security and integrity issues, and their relationship to
enhancing the overall financial reporting, controls and back-up systems as
needed.
There have been no other significant changes in the Company's internal controls,
other than the improvements discussed above, or in other factors that could
significantly affect internal controls subsequent to the date of the evaluation.
http://investor.globetel.net/phoenix.zhtml?c=67726&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd...
Record for phone number (443) 552-0624
(443) 552-0624 is Unpublished or Unavailable Type: Land Line
Provider: Verizon
Location: Baltimore, MD
Due to number portability, some numbers have been transferred to a new service provider.
Power Web Search
Printer-Friendly
Send Listing to my Email
Records for (443) 552-0624.
Location: Baltimore, MD
Get Current Name and Address registered to (443) 552-0624 here.
Records Available Instantly.
http://www.whitepages.com/10583/search/ReversePhone?phone=443-552-0624
Anywhere Caller has a Verizon phone number out of Baltimore, MD.
For customer support or any inquiries, please call:
443-552-0624
".....as this is distracting our team from more immediate opportunities"
Here is where Huff told the biggest lie. Where were the immediate opportunities?
This:
SEC investagation.
Delisting from AMEX.
Huff resignation.
Giving away Magic Money.
Centerline not reaching projected goals.
Sanswire delay's.
Reorginazation
No Hotzone
The promeniment BOD director resignations.
Share dilution.
A new CTO who also brought this company down.
LOL
And some wild price fluctuations in between which the SEC should investagate to find the links as to who made the big money. I think it will leave a trail to the people called when Huff resigned his post.
Nice post, one of the many reasons to have no faith in GTEM.
"By the way where is Travelex??????"
They were bought out by Coinstar- a very sucessful company selling some of the same products as GTEM.
Where do you see this is a "Marketing test"?
http://biz.yahoo.com/bw/070116/20070116005579.html?.v=1
Mide you think of the 32,000 shareholders some would be interested in the "Anywhere Caller" plan, like Skyvision. http://www.investorshub.com/boards/read_msg.asp?message_id=16508118
Heaven forbid shareholders just might want to know where the plan could be purchased. So how can you say:
Now..I have this image in mind of dozens or more of GTEM shareholders dunning 12 retail outlets clogging their incoming lines, preventing them from doing normal business, answering stupid shareholder questions.
And not making a dime selling their new products
By the why where can the Hotzone Wireless be purchased in Germany or Mexico?
SAM, I can't post a list of the 12 distributors because I do not believe they have 12. I was going by Mide's saying they have them when I posted the maximum profit potential (which won't amount to much). http://www.investorshub.com/boards/read_msg.asp?message_id=16477910
If you are willing to call distributors to see if they have the
"Anywhere Caller" plan, I have narrowed down the distributors who have "BILL PAY". You already called MetroPCS and they don't have it, so you can elinimate that one.
21 different payment centers in Detroit
http://www.metropcs.com/locator/locate.php?zip=&GA=&CFL=&DFW=&DET=Detroit%2C+MI&...
40 different payment centers in Dallas
http://www.metropcs.com/locator/locate.php?zip=&GA=&CFL=&DFW=Dallas%2C+TX&DET=&O...
Nerd, I gave maximum, unreal potential figures for the near future potential. You and I know how all the many other test marketing attempts have gone. I don't need to repeat them.
Nothing to be over excited about at this stage.
Mide I would hardly call that a whole new growth mode. How can you make it sound like such a positive and promote such a trivial partnership, you have to be talking to Rob to much.
Made a correction from $19.95 to $19.99 and revised the figures to be more accurate.
Lets look at the figures:
MetroTel averages more than 600 transactions per store per month, including both phone sales and BILL PAY transactions.
http://biz.yahoo.com/bw/070116/20070116005579.html?.v=1
With 12 stores, that equals 7200 transactions per month.
If the impossible happened, that all 7200 customers signed up for the ANYWHERE CALLER plan at $19.99 per month it would equal to $143.928 per month X 12 months = $1,727,136. That is with 100% signup and max. with no partnership.
Points to ponder:
1-the 600 transactions per store include bill pay transactions and not all phone sales. Are the bill payments for utilities such as electric, cable, phone or gas?
2-What is the % split between Globetel and MetroTel ?
3-What % would MetroPCS Communications want to allow this to be done through their independent stores?
4-Not much of a profit margin if it goes through Centerline.
5- All said not enough to give a very upbeat look at Globetel IMO.
Will it break it's 52 week high today? Just give us the good news.
Lowtrade, AURC been making some plays from your TA, Bought this at .16 and .12. In spite of the heavy volume have a hard time selling,ended up selling at .18. Your opinion on the next direction. With the PR I think the dividend will be in stock which only dilutes the share price. I decided to take the money and run.
Holding ERFW longer then I'd like.
Sold rev, eght. always appriciate your take.
My last post ever on GTEM.
I posted some questions yesterday and made some calls. After I found out a few things, I feel this company is not even worth bashing. Maybe I misunderstood this company and the revenue from Centerline. I was under the assumption the 70+ million in revenue was from sales of THIER wholesale selling of prepaid minutes, it is not. While I won't elaborate any further, as I did not speak to someone with authority, and maybe most here knew this. IMO, I no longer feel this company is worth spending my time on. I do wish everyone, pumper's, bashers and traders a lot of success.
I will do that today, I guess I am the only person who is really dedicated and willing to support this company and care enough to buy a product associated with this company to help improve their sales and profits.
Justfrank I know that, can you give me a name of a reseller aka
vender. I would think every shareholder would like to know where they could direct someone to buy a Globetel product. I know people from the Philippines, Mexico. India, Russia and just about every where else who would want to purchase these cards as gifts for the holiday's. You would think Centerline/Globetel would let it be known for their "35,000" so said, shareholders. I guess the real reason they don't want to let it be known is to keep the information away from its competitors. Thier great at that.
Thanks, do you know the vendors names, maybe I could purchase them on Ebay doing a worldwide search.
I asked this question yesterday and not one answer. I'd be happy just to hear about a call from someone using a Centerline/Globetel pre paid calling card. Anyone ever see the card or know of someone anywhere in the world who purchased one?http://www.investorshub.com/boards/read_msg.asp?message_id=15235981
I will expand on it: Does anyone know who is a vendor of the pre paid Centerline/Globetel calling card is and a link to where can I get one.
I'd be happy just to hear about a call from someone using a Centerline/Globetel pre paid calling card. Anyone ever see the card or know of someone anywhere in the world who purchased one?
You can add these to the list:
Rupert Murdoch because GTEM is such a threat to his DirecTV
Lockheed because GTEM is so far ahead in building the airship.
Verizon, ATT, and other Telcos because the Hotzone is superior to any technology they have.
American Tower Corporation; Crown Castle and other cell phone tower construction companies who will become extinct when replaced by the Stratalite.
Bank of New York "error". lol
Day Traders who make the money and run.
Asensio who has been shorting and bashing this company. http://www.asensio.com/Reports/ReportView.aspx?ReportId=734&CompanyId=154&CompanyName=Globet....
The new experienced management knows how to reorganize and turn this company around.
How can you expect a small start up company not to have a few setback with companies like the above doing everything possible to break them? But their leading high tech products will prevail.
gdb81-What is your take on these 3 companies all managed by Joe Monterosso, and all had an Administration Dissolution on 9-15- 2006 just before the SEC inquiry?
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=L04000060161&n2=NAMFWD&n3=0000&...
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=L04000067988&n2=NAMFWD&n3=0000&...
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=L04000064512&n2=NAMFWD&n3=0000&...
The one left standing:
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=L04000049096&n2=NAMFWD&n3=0000&...
ezey, the lead plaintiff was mentioned in the 120 page report.
She had about 200+ shares (off the top of my head). Just on this board alone there were 2 people who said they volunteered to be a lead plaintiff so I don't think you will find any shills in this case. Too many upset shareholders around. It is refreshing to know this will be a legitimate case should it go to court.
"asked how much of my investment i could expect to recover should they win...and he said 10-15%"
If that is the case 10-15% recovery it would be about what the stock is selling for now. Every shareholder is in this class action should GTEM lose. It is only up to you if you want to claim anything. I recently got a check for over $1000. on a interest bearing mutual fund that was overcharging.
The class action lawsuit going to trial is a win/win situation for all GTEM shareholders.
Should GTEM get the lawsuit dismissed or win the case, more confidence for the shareholder going forward.
Should GTEM go to court and lose the lawsuit, all the garbage about this company will come out and leave us much more knowledgeable and wiser.
The worst that could happen is the lawsuit being settled out of court. Now we are back to square one, never knowing what is going on.
Remember the class action attorneys in a lot of cases try to protect the shareholders interests. Think about how much fraud would go on in the stock market without them
Logandean, your right, might even be worth moving to Mexico just to have it.
I'm still thinking about getting a cell phone, but I don't want people bothering me with useless calls
I am glad that they will release fluff to pump the share price.
Like to see another PR tomorrow or I am out.
NO PATIENCE