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That explains the slander. Thanks bro. EOM.
Rocky would you think that it would be a good idea to put this link as DD info on Mobile telecommunications via stratosphere ?
http://www.intercomms.net/AUG03/content/struzak1.php
ShakeyGuy regarding Kestrel there was a post by Rocky i think regarding this so perhaps you should ask him. How i interpreted that post was that Kestrel might be out of the picture or like someone just pointed out maybe perhaps because of the signed confidentiality agreement they did not comment and took Sanswire off of their website.
For Iowa film. Here is what i posted earlier.
http://www.investorshub.com/boards/read_msg.asp?message_id=6695090
ShakeyGuy thanks for the correction. Let's hope so. That would be even better. I took the more conservative approach but you are right president of GTE is more creditable source then any magazine source. ONE QUESTION THOUGH.
What does Leigh Colman president of Globetel consider as High altitude testing ? Is it 10,000 feet or 65,000 feet ? Can someone recall and find some statments reffering to altitude by Colman ? That would answer the this question.
For higher altitude testing High altitude propellers would have to be installed, which was Kestrel. It seems Kastrel is out of the picture. I'm not sure maybe NASA has better source for propellers. Remember my previous post also. Iowa Film is out of picture also. For solar film since it is at least 2x superior product Sanswire will use.
http://www.daystartech.com/lightfoil.cfm
SANSWIRE PROTOTYPE EVOLUTION S1,S1.5,S2 UPDATE
Here is most accurate gathered info on Sanswire prototype evolution process from company’s insiders.
Name Code name/Place of production Size(ft)
Sanswire 1(S1-San Bernardino) 188 feet
Planned purpose: Ground test only to test materials and construction techniques.
Projected Date: April 2005 (1). Status: completed.
Sanswire 1.5(S1.5-Palmdale)--- 245 feet Made from S1 but bigger and improved.
Planned purpose: Low altitude flight testing to 10,000 feet. (5)
Projected Date: August/September 2005 per President or End of 2005 per CEO. (2)
Sanswire 2 (S2-Palmdale) 450-800 feet
Planned purpose: High Altitude (stratoshpere)flight & communications.
Projected Date: First Q1, 2006 (3)
300 stratellites is projected to be produced by 2007. (4)
Sources in order: (Note that sources are articles however president, directors and ceo did made comments)
(1),(2),(3) http://www.investorshub.com/boards/read_msg.asp?message_id=6884064
(2) http://www.wirelessiq.info/content/qa/20.html
(4) http://www.telecomasia.net/telecomasia/article/articleDetail.jsp?id=165793
(1) (2) http://www.dailynews.com/Stories/0,1413,200~20943~2927986,00.html
(5) http://www.floridashipper.com/news/article.asp?ltype=feature&sid=697
Thank you Ray for kind comments. I also took a picture with Huff, in case he will become next Bill Gates. It would be cool to document that...LOL. I did very much like our chairman Przemyslaw Kostro. Maybe perhaps he is from my country and we talked in native language, but also he was very nice gentelman and easy to talk to. Althought i can't say the same thing about Mr.Huff because he was more proffesional trying to take care of business which is expected from him anyway so I do understand.
Take care. Perhaps at next unvailing we will meet again. I'm not sure if I will go to shareholders meeting yet since agenda seems very short but at the commercial unvailing i will be for sure. To take a look at football size field and nine stories high airship will be something to look at. It will be like a UFO convention with one difference that ship be will be parked.
Ray there might have been few people there with blue shirt but YES i did have a blue shirt on.
May I ask why you ask ?
mide directly as you stated it will not have a dilutive effect but inderctly by issuing shares later on to companies like MANDALAY INDUSTRIES INC. does have an effect on OS or float. A huge effect I would say. Look how many share they dumped on Jun 27, 2005.....2.44 million. Who is MANDALAY INDUSTRIES INC. for GTE anyway ? Does anybody know ? Do you see know why I would get upset over increase the size and issueing it to who knows who. I sure don't know know and never heard of MANDALAY INDUSTRIES INC. Did any of you ?
Why 45% partners don't invest some money into GTE or loan $.
I do not have any problem with GTE buying companies out with shares thought but have a problem with GTE issuing shares to entities like MANDALAY INDUSTRIES INC. Why they have unspecified relation.
http://finance.yahoo.com/q/it?s=GTE
http://biz.yahoo.com/t/44/4734.html
Company/Relationship Reported Shares Ownership
GLOBETEL COMMS CORP
Unspecified Relation
AMEX:GTE
(historical quotes, profile, other insiders) 2005-06-27 not reported
GLOBETEL COMMS STK
Unspecified Relation
OTC BB:GTEL.OB
(historical quotes, SEC, other insiders) 2005-03-16 not reported
Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction ADVERTISEMENT
27-Jun-05 2,444,167 GTE Planned Sale
(Estimated proceeds of $7,300,000)
16-Mar-05 9,135,630 GTEL.OB Planned Sale
(Estimated proceeds of $2,500,000)
28-Feb-05 641,478 GTEL.OB Planned Sale
(Estimated proceeds of $195,000)
15-Dec-04 9,134,964 GTEL.OB Planned Sale
(Estimated proceeds of $685,000)
Rocky you won't get it cause you were right. I forgot about that form 4 is used only for common stock not preffered shares.
So how do SEC and market track preffered shares purchase or distrubition especially among insiders. How can I validate press releases stating 250k and 1MM investments ?
Thank you.
Qreus i agree with your analogy and that is why i think this timelines and schedule in my post might pan out. Check it out and let me know what you think
http://www.investorshub.com/boards/read_msg.asp?message_id=6994987
Rocky we will see on 4 FORM instead of arguing it if I am wrong or not. If I see what i have posted in my previous post then TO ME that will mean what i said. If others want to believe in Santa Clause I will not argue with them. Can't beat the facts. Investigator starts with hypothesis (what i said) and then goes to evidence (FORM 4) and then puts EVENTS together to come to conclusion.
I have no problem whatsoever with COO or any other officer investing money into company. That is great great news but not at my expense...OK !! That's why when you recall one of my first posts ever on this board i was against AMEX and for NAZ. I guess i was right back then too.
Much respect Rocky
sebass
HD28 you will find out on soon to be filed 4 form. I will speculate and call it around 1.85-2.00 where wonderful "specialist" (wonder why they call them that) walked the price down to allow BIG BOYS TO accumulate at your cost. Whowwwwwwwww.... that can't be true right ? Also wonder why GTE chose a firm that has been guilty of that in their past.
TAKE A LOOK AT THE DATE AND PRICE WHEN FORM 4 comes out.
Sorry for being realistic guys but all I am trying to do is put some realism onto here
I somewhat agree with you about the future pps and market cap, however what I am disappointed and upset about management screwing investors over. The same thing that we are discussing now has been discussed when reverse split has been announced.
Well....sorry but PPS has went from $4 to $1.85. I won't call that a successful transition. What I have learned this time is that anytime any company for whatever reason will announce R/S. SELL SELL SELL will be what I will be executing and then buying it back.
Now getting back to increase of Authorized Shares, based on history of R/S where do you see this going ? Well I don't know but I hope not to 1.5 Billion like it was pre split.
What will investors say then ? All I am saying is HOLD MANAGEMENT RESPONSIBLE for what they say. Some people need to stop sugar coating every move company makes. Instead of neat picking what I say start neat picking managements PRs and we all be better off. I am a realist and do not put my head in the clouds when it is pouring rain. As I said before I have a big stake in this company but my vote will be NO.
Let big time investors, partners and bankers fund the company not just your hard earned money. THAT WAS THE PURPOSE OF MOVING TO HIGHER EXCHANGE hasn't it ? At least Huff said so. My memory has not failed me yet. What time better then now to let them fund the company after the move. Why you guys insist on using your own money after Huff himself said higher exchange would service that. WELL !!!!
No offence to you andtheretheygo.
Rocky what do you mean "here you go AGAIN" ?
I stated my opinion as you did or anyone else for that matter.
I will hold my investment until something with business plan goes south. Yes I am not happy with the way management stating one way and doing opposite of that...knowingly or not.
As far as partnership. Here you go.
http://www.investorshub.com/boards/read_msg.asp?message_id=6950171
Yes I know it's the individuals not the firm but that was not the point. Point was they now have big time investors and banks to handle acquisitions.
IT'S TIME TO STOP ISSUING STOCK LIKE IT'S A TOILET PAPER. So far my face has been rubbed in it. That is why on OTCBB we had 1.5 billion AS. Do you guys want to get to that point again ?
I don't. VOTE NO for increase AS shares. Let the management find alternative ways instead of screwing you...a hard working investor.
That’s my opinion. I have a right to it as you do to yours.
Reason why my vote is NO.
Holter i agree with you 100%. GTE now has bankers and formed partnerships(like 45% Rubicon one) for them to invest some money into GTE. It is time for the managment to stop rapping individual investors. Huff has said in the past that there isn't going to be R/S and there was. I have a lot of money invested in GTE and i will not allow lies and deceptions to eat away my hard earned money. That is the reason my vote will be NO.
Remember this few months from now. After they get more Authorized Shares they will issue them to others and then other will dump it into Oustanding shares or/and float, therefore diluting the outstanding shares.
THINK PEOPLE THINK. DON'T BE LEMMINGS.
VOTE NO or watch the stock price dip lower.
SANSWIRE PROTOTYPE EVOLUTION UPDATE S1,S1.5,S2
Here is most accurate gathered info on Sanswire prototype evolution process from company’s insiders comments.
Name /Code name & Place of production/ Size(ft)
Sanswire 1(S1-San Bernardino) 188 feet
Planned purpose: Ground test only to test materials and construction techniques.
Projected Date: April 2005 (1). Status: completed.
Sanswire 1.5(S1.5-Palmdale)--- Speculated size 245 feet.
Made from S1 but bigger and improved.
Planned purpose: Low altitude flight (10,000 feet) testing.
Projected Date: End of 2005 year but could be as early as August/September per President. (2)(5)
Sanswire 2 Commercial(S2-Palmdale) 450-800 feet
Planned purpose: Commercial High Altitude flight & communications.
Projected Date: First Q1, 2006 (3)
300 stratellites is projected to be produced by 2007. (4)
Sources in order: (Note that sources are articles however president, directors and ceo did made comments)
(1),(2),(3) http://www.investorshub.com/boards/read_msg.asp?message_id=6884064
(2) http://www.wirelessiq.info/content/qa/20.html
(4) http://www.telecomasia.net/telecomasia/article/articleDetail.jsp?id=165793
(1) (2) http://www.dailynews.com/Stories/0,1413,200~20943~2927986,00.html
(5)http://www.floridashipper.com/news/article.asp?ltype=feature&sid=697
P.S
It is suspicious to me that this article (http://www.avpress.com/n/03/0703_s7.hts )is no longer available to read.
Glad we had it reposted on the board. When read it’s understood that inside info was leaked by Sanchez therefore
article is no longer available. Here is the repost http://www.investorshub.com/boards/read_msg.asp?message_id=6884064
Sanchez made a mistake by calling S1.5 second ship. That would be incorrect since Leigh Colman has said very clearly that S1 will be taken apart and bigger and improved ship will be constructed from S1. So if main 3 pieces were used to construct bigger ship then it would be S1.5. Also Leigh mentioned commerical sanswire as ship #2 so therefore that analogy.
SANSWIRE PROTOTYPE EVOLUTION S1,S1.5,S2
Here is most accurate gathered info on Sanswire prototype evolution process from company’s insiders comments.
Name Code name/Place of production Size(ft)
Sanswire 1(S1-San Bernardino) 188 feet
Planned purpose: Ground test only to test materials and construction techniques.
Projected Date: April 2005 (1). Status: completed.
Sanswire 1.5(S1.5-Palmdale)--- undisclosed actual size. Made from S1 but bigger and improved.
Planned purpose: Low altitude flight testing.
Projected Date: End of 2005 year but could be as early as August/September per President. (2)
Sanswire 2 Commercial(S2-Palmdale) 450-800 feet
Planned purpose: Commercial High Altitude flight & communications.
Projected Date: First Q1, 2006 (3)
300 stratellites is projected to be produced by 2007. (4)
Sources in order: (Note that sources are articles however president, directors and ceo did made comments)
(1),(2),(3) http://www.investorshub.com/boards/read_msg.asp?message_id=6884064
(2) http://www.wirelessiq.info/content/qa/20.html
(4) http://www.telecomasia.net/telecomasia/article/articleDetail.jsp?id=165793
(1) (2) http://www.dailynews.com/Stories/0,1413,200~20943~2927986,00.html
P.S
It is suspicious to me that this article (http://www.avpress.com/n/03/0703_s7.hts )is no longer available to read.
Glad we had it reposted on the board. When read it’s understood that inside info was leaked by Sanchez therefore
article is no longer available. Here is the repost http://www.investorshub.com/boards/read_msg.asp?message_id=6884064
PeaceDog you must have forgot about Naked short selling.
On that note. It was my impression that specialist job was to keep the stability and fair price of share on the market.
SO YES THE SPECIALIST IS TO BLAME !!!
Hydrogen lighter-than-air ship
A lighter-than-air ship using hydrogen or other gas as a lift gas with at least one hydrogen fuel cell aboard. The fuel cell can draw hydrogen fuel from the lift gas reservoir to produce electricity both for the ship's use and optionally for propulsion. The waste product of the fuel cell is water which can be used for the needs of a crew on the ship. The hydrogen lift gas chamber, which can be compartmentalized for lift control, can be surrounded by a safety jacket filled with an inert gas and contain optional hydrogen and/or oxygen sensors.
Dossas, Vasilios; Kraft, Clifford H.
ORO Grande Technology LLC; May 24, 02005
#6896222
http://www.iee.org/oncomms/pn/aerospace/patents.cfm#Hydrogen%20lighter-than-air%20ship
Any chemists there to address water issue ? I mean at -65oF water is instant ice. I do not think this is the what GTE is reffering to as "Priopriotary Lifting Gas technology" but perhaps this sheds some light on that subject. This is not a worry to me but I thought i would bring this up so perhaps some can shed some light on it. Thanks in advance.
Willsimon GTE will only become profitable when Stored Value cards are in operations. Based on the latests press relase of the L.A expencion and switch being added it seems like GTE is right on track for Q3, 2005 operations to begin on stored value cards as they have annouced a while ago. I would advise everyone not to expect profitablity on VoIp business unless some major contract happens.
VoIP business is only 3-5% margins
Stored value cards is 30-40% margins.
Strat too big to estimate.
Just my 2 cents.
WTF is going on with GTE PPS ?
It's not like strat has crashed. WTF !!!!!!!!!!!!
How will you vote on AS increase ?
I will vote NO. I don't care what the reason is. GTE now has banks to loan money from and institutional holders. No reason to keep raping individual investors anyomore by issuing more and more shares. What was the reason for R/S so they can keep issuing shares so we will get again to 1.5B outstanding.
VOTE NO !!!!
Where to check AMEX SHO list ?
jacques0. No not GTE IMO.
GTE bought Wi-MAX wireless company and to my knowledge does not deal with xMAX.
6,615,000 shares order on NASD
1323x5000size order@ 2.82 Whow what a big order on ameritrade level II from NASD. Am i reading thie wright ? Would that be 6,615,000 shares ?
Batteries won't operated at strat temps per data.
"We believe that our GAIA cells and batteries have the following differentiators:
Large and modular cells for design flexibility
Common building blocks (cylindrical, prismatic cells and flexible flat cells) allow for various sizes, shapes and performance demands
Very low and high operating temperatures from -40oC to +55oC
Vern has stated that operating temperature in stratoshpere is -65oF. These batteries only are rated to -40oC.
-65oF= -53.9oC so stratospere temperature is over battery operating temperatures. Anyone cares to comment on this
Construction & Size of S1
Regarding to construction of airship:
http://www.investorshub.com/boards/read_msg.asp?message_id=6733228
Regarding size of S1 and mass production:
"According to GlobeTel president Leigh Coleman, the governments of Peru and Colombia have already placed orders, along with unnamed US companies. The US Army and Air Force are interested. The production goal is some 300 airships a year by 2007. "
"The company unveiled a near-complete 188-foot-long prototype in mid-April. Launch of the first of the full-fledged commercial versions, which will range in length from 450 to 800 feet and carry payloads ranging from 500 to 2,000 lbs., is scheduled for early next year. stratellites will stay aloft 18 months at a time before returning to earth for retrofitting."
http://www.telecomasia.net/telecomasia/article/articleDetail.jsp?id=165793
KEVINOAK, ROCKY & GREGMASTER
Here is my take on it.
Per my email exchanges with Globetel at the time this is the setup. Globetel has taken apart Sanswire1 at San Bernardino into major pices and shipped it to Palmdale. The ship has not been totatly dismantaled. Because ship was taken apart into few major pieces the reconstructions process will not take as much time as building it from scratch.
Also what this article has stated is that Sanswire1 prototype will be upgraded to bigger size. Here are the quotes from the article:
"GlobeTel Communications Corp.'s Sanswire Networks is leasing part of a former bomber assembly plant in Palmdale, where the airship is to be assembled using components from an earlier, somewhat smaller prototype airship unveiled this spring in San Bernardino."
"Engineers are still working out the plans for how big the airship will be. The craft floated by tether in San Bernardino was 188 feet long, which Sanswire said made it the largest rigid airship in existence"
Source:
http://www.dailynews.com/Stories/0,1413,200~20943~2927986,00.html
How did you hear about that ? Cramer does not like ANY communication copany. He dislikes whole sector. I care less if he likes it or not. He pumped eyet and next day was bashing it. He still does. Does not matter to me.
Company will succeed or fail on performance, not speculation and certainly not publicity.
Sanswire1 size, Solar film and now batteries to be upgraded.
Sanswire1 size is getting upgraded, solar film is getting upgraded and now possible batteries are going to be upgraded. Very nice. Maybe they should just go to full size 800 feet Strat. I would definitly go to take a peek at full size one at next shareholders meeting.
SANSWIRE1 GETTING UPGRADED TO BIGGER SIZE.
Sounds like Sanswire1 is going to be upgraded to bigger size from it's earlier assebly at San Bernardino.
"Engineers are still working out the plans for how big the airship will be. The craft floated by tether in San Bernardino was 188 feet long, which Sanswire said made it the largest rigid airship in existence"
"...assembly plant in Palmdale, where the airship is to be assembled using components from an earlier, somewhat smaller prototype airship unveiled this spring in San Bernardino."
Good news considering that bigger size costs more money. Makes me more confident that with each day passing by managment is getting more and more optimistic about its success due to size upgrade of airship. At least that is how i see it. It's amazing that with each month passing by project is being improved constatly. Good job on improvments. Now no more delays and I will be a happy camper. What i don't understand is why news like that does not show up under GTE press releases. It's in the interest of the company after all.
High Hopes I could be wrong but blimps do not have helium "balloon like cells" so once blimp is punctured it will go down. Our strat will have "balloon like" helium cells so when the helium in "balloon cells" expands the strat rises. Even if strat's kevlar layer is punctured it will not go down. Most helium cells would have to be ruptured in order for the strat to start descending.
http://www.ragnardanneskjold.com/GTE/html/p1010050.html
Not only that. How is UAV going to float at 60,000 stationary. Only thing it has is wings so it would have to move around. That's not viable for satallite replacement
PeaceDog and likegtel regarding Daystar.
"GTE might know about it already" -likegtel
YOU ARE 100% CORRECT ON THIS and i will go a step further and say that IMO please do not be surprised if that will be a product used on Sanswire1 and Sanswire ships. I have gotten a replay to my email and i can not recopy its content but the main keyword is "WORKING". And I am not referring to the product here. Now make your own conclusion what that means.
Study both products and you will know that Daystar's product per millimeter produces twice as much energy then Iowa film's. That type of efficiency is precious in stratosphere especially for recharging batteries and possibly drawing the power from moon light and stars.
Iowa's is Thin Film Amorphous silicon (a-Si, Thin Film Silicon) Power 600W/kg with density of 100
http://www.iowathinfilm.com/technology/index.html
Daystar is CIGS Solar Cell Foil. Power 1100W/kg with 150-200 density
More details here: http://www.daystartech.com/pdf/lightfoil_haa3_4.pdf
Look at both company's slogans as well. Looks like their business models are synergetic as well.
Globetel: "Delivering tomorrow’s communication networks today."
Daystar: "Bringing you tomorrow’s technology today"
Currently we have no official contract with any film supply company. After reading this whole thing you should get an idea what I am trying to say here without actually saying it. You Dig or not? LOL.
Best wishes to everyone here. Love this board.
Candle TA says Buy-IF due to Bullish Harami Cross Pattern formation.
http://americanbulls.com/StockPage.asp?CompanyTicker=GTE&MarketTicker=AMEX&TYP=S
http://www.candlesticker.com/Cs31.asp
Candlestick Analysis
Today’s Candlestick Patterns:
Doji
Bullish Harami Cross
Today a Doji was formed. This shows indecision about the direction of the market and it represents a tug-of-war between buyers and sellers.
The last two candlesticks formed a Bullish Harami Cross Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
New Superior Solar Film product
I have sent an email to Mr.Colman for the Sanswire engineers to evaluate this product. Someone should help in R&D dept....LOL..might as well be me. Let me guys what do you think. Rocky what do you think about this comparing it to Iowa Film ? It could easyly double the charge for battries and also be more sensitive towards moon light charge.
http://www.daystartech.com/govrelease.htm
http://www.daystartech.com/pdf/lightfoil_haa3_4.pdf
http://www.daystartech.com/
DayStar Technologies Unveils LightFoil™ Photovoltaic Product for Military and Homeland Security Applications
Specifically Designed for High Altitude Airships, Winged Unmanned Aerial Vehicles and Orbital Applications for Next Generation Satellite Craft
HalfMoon, NY – (PR NEWSWIRE) – March 3, 2005 – DayStar Technologies, Inc. (NASDAQ: DSTI), a developer and manufacturer of patented and proprietary high performance, silicon-free solar cells on specialty metal foils, today unveiled LightFoil™ for high specific power applications. This proprietary alternative energy solution is the first of many highly anticipated Photovoltaic Foil products expected from DayStar.
Click here for LightFoil™ product PDF
Military and Homeland Security applications for LightFoil™ include high altitude airships (HAA), winged unmanned aerial vehicles (UAV), and orbital applications for next generation satellite craft. The product meets the low weight, high power, and form flexibility metrics required by onboard power generation systems for these weight sensitive applications.
LightFoil™ consists of high efficiency CIGS solar cells deposited on thin titanium foil. Less than the thickness of common household aluminum foil, LightFoil design allows for high power production from sunlight without excessive weight. The Company has achieved a specific power level of 1440 W/kg (15.2% AM0 efficiency) in the laboratory setting, which is approximately 50% more energy dense and 60% lighter than all known thin film alternatives. Manufacturing development of LightFoil™ based on the laboratory benchmark is currently underway with a specific power target that will exceed 1000 W/kg. Engineering samples should be available in 2Q 2005.
In addition to high specific power, LightFoil™ is also flexible both physically and in form factors. The product molds to curved surfaces and can be cut to shape to conform to complex geometric requirements.
"LightFoil™ is specifically designed to meet the unique challenges posed by stratospheric airships, other UAV's and orbital craft," stated Dr. John Tuttle, DayStar's CEO. "Without the constraints of adapting an existing silicon-based product manufacturing line, we were free to produce a low cost, lightweight product which exceeds specific power requirements in many cases. As a consequence, DayStar is able to dedicate manufacturing capability specifically for LightFoil™, should demand warrant."
To achieve cost and quantity benchmarks, the Company produces its Photovoltaic Foil products using proprietary, low cost, high volume manufacturing processes adapted from commodity computer component manufacturing. As a result, LightFoil™ is not only lightweight with high power but also cost effective for specialized military, homeland security and commercial applications.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is a global leader in low cost, high efficiency Photovoltaic Foil that converts sunlight into energy. The Company's patented and proprietary products utilize silicon-free CIGS solar cells, which are deposited on specialty metal foils using production processes adapted from commodity computer component manufacturing. DayStar believes the unique combination of its CIGS solar cell design coupled with inexpensive manufacturing processes can lead to solar electricity at commercially viable rates. For more information on the Company, please visit www.daystartech.com
Lowtrade CMF ?
"All this is indicating continued small guys entering, and selling EOD AH, shows larger guys moving out daily! IMO
Lowtrade for last 5 days CMF is positive. Wouldn't CMF show negative money flow rather then postive if that were true ?
http://stockcharts.com/def/servlet/SC.web?c=GTE,uu[w,a]daclyyay[db][pd20,2!b50!f][vc60][iut!Uc5!Ub14...
SEC due date is Monday, August 15. If ext filed due Monday August 22, 2005.
Bday43 operations on store value cards are suppose to begin in Q3, 2005 per 10K2004. I can't find the source for installation thought. I thought i read it on this board. My educated guess if not already installed then in Q2. In either case no margins increases until then therefore the statment of Huff of profitability by end of year, if everything is on schedule of course. On CGI's subsidiary carrier traffic we will not become profitable IMO since only 3-5% margins where on stored value cards margins are 35-40%. Sorry i couldn't provide a link to source. Maybe others will help.
Processing Switch Agreement
In August 2004, through Englewood Corporation, we entered into an agreement to join with Grupo Ingedigit C.A. ("GI"), a certified MasterCard third party transaction processor and the leading electronic financial transactions services backbone provider for the banking industry in Venezuela, establishing a new venture in Miami, Florida providing domestic and worldwide financial transaction processing services. This domestic venture combined with GI's current international processing capabilities will support on its own network all the Magic Money and other private label GTEL stored value card programs around the world, as well as other third party cards. Both parties will contribute equally to the operation of the Miami switch. The switch is expected to be certified to process MasterCard, Visa, Cirrus, and other independent ATM network transactions. Operations are expected to begin by the third quarter of 2005. The switch will be installed and integrated by Englewood Corporation.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D05...