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Nice new institutional holder this evening "STATE STREET CORP" Over 500K shares.
http://www.nasdaq.com/asp/Holdings.asp?symbol=EGHT&symbol=GTE&symbol=MOBL&selected=GTE&a...
Kevin
Rocky - this is an old document from Sanswire Australia, but I don't remember seeing it before. If it has been posted already feel free to remove this post.
http://www.parliament.vic.gov.au/rrsdc/inquiries/telecommunications/rt_submissions/sub_22_Sanswire.p...
Thanks
Kevin
Rocky would not delete the post if supported by real information. Find some facts to support the rumor and it will stay.
EDIT by Kevin: otherwise it is just a rumor and has no place here!
Kevin
Luckyone - it appears to be a repost of news from Aug 1.
http://www.investorshub.com/boards/read_msg.asp?message_id=7184982
Kevin
Mitchell66 - as long as it is not classified government information you should be ok to share it.
Kevin
Rocky - you do a great job! Please do not "loosen up a bit". It is great to come here and get only the facts.
Thanks again
Kevin
Any ideas on GTE not trading? TIA Kevin
PeaceDog - an hour ago, that is the way I was looking at it.
Now taking into account that it can be viewed as a reward to a good employee (I did not understand this before), I don't agree with your comment: "It would seem that management made a bad decision".
Keeping and rewarding key people is a good thing. Also having insiders heavily invested is also good.
Kevin
Rocky,
I was trying to look at it from GTE's side, because that is the side I expect GTE to look at.
I kept throwing the "wrench" because I really did not understand.
I was only asking about why the did not sell on the open market because it did not make sense to me why GTE would sell shares for signicantly less than you could get on open market. It does make sense now when it is viewed as a reward to a good employee.
Kevin
Rocky, why didn't you just say that in the first place. lol
It explains to me why they did not just sell shares on the open market to raise the money.
"Siegel is an insider who has been with the Company for years and will be treated accordingly as most companies do...rock"
Sort of a employee benefit package, which I do not have a problem with as long as they do not abuse it. I do like having insiders investing in the company.
Kevin
So Siegel is buying his common shares in the end for 43 cents a share.
$2/share was a low number, because I assumed that as they sold shares the price would drop.
I would also sell all my shares today at $2.14 and buy shares GTE Preferred shares that work out to 43 cents a common share in the end.
I will even agree not to sell them for 4 years.
Kevin
Rocky -
"Would you invest half a million bucks for a 10% discount to market price? "
Answer: I bought my shares at the market price.
I still do not understand why GTE would sell shares for less than 43 cents a share when they could get over $2.00 for them.
If you are saying the shares were purchased for a 10% discount to the market price please show me where my math is wrong.
"... for a 500K investment that Mr. Siegel will end up with 1,166,666 commons shares? Which works out to a little less than 43 cents a share when the current share price is over $2.00."
Rocky- I am sure I am missing something, but can't figure it out.
Thanks
Kevin
Rocky - now I am really confused. I don't understand (Honestly) how it is a "10% discount to market price".
From my previous post, is my math wrong?
Are you saying for a 500K investment that Mr. Siegel will end up with 1,166,666 commons shares? Which works out to a little less than 43 cents a share when the current share price is over $2.00.
Kevin
Rocky - I am sure I must be misunderstanding something on this one. Are you saying for a 500K investment that Mr. Siegel will end up with 1,166,666 commons shares? Which works out to a little less than 43 cents a share when the current share price is over $2.00.
If the above is true, why would GTE not just sell 250K common shares (let's go low at $2.00 a share) and get the same amount of money with alot less dilution?
TIA
Kevin
Rocky - I'm trying to read the reply you made to my post, but cannot view it for some reason. If you get a chance can you email it to me.
TIA
Kevin
GTE short report from amex - To view GTE select short interest and enter GTE
http://www.amex.com/amextrader/?href=/amextrader/tradingData/RegSHO/TrDa_RegSHO.jsp
Kevin
CGI - Commitments Test Entity - Fourth Quarter Report
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&...
From report:
Disposed of 7,000,000 of the origional 16,500,000 Globetel shares
Kevin
Rocky - I agree with the reasons you stated also. I would add a obvious point, that for 45% of the joint venture they are probably bringing cash, which we also need.
Kevin
Again, Thank you! So far it appears that things are being executed as planned. I refer to Mr. Huffs statement from the July 8, 2005 PR.
"All four of our business units are operating as planned and I am pleased with their continued progress"
I guess we wait for the 2nd quarter numbers or a update from Globetel for official confirmation, but I take Mr. Huffs statement as a pretty good confirmation.
I like the "Cash Cow" part!
Kevin
Rocky - thanks for the great posts. I get too many things mixed up to respond properly. I will try to leave that to you from now on. (Although I reserve the right to backslide every now and then. -lol-)
Thanks for everything, I really appreciate all the research and input you provide to the board.
Kevin
Who said the core business was VoIP? If you look at the financials, the core business appears to be the money remittance program and stored value cards.
Kevin
The best part from todays PR in my opinion is:
"All four of our business units are operating as planned and I am pleased with their continued progress."
Higer revs at higher margins, stratellite moving forward, money remittance growing, stored value card up and running, voip traffic growing. Please add anymore you can remember, I know there are more.
Kevin
I remembered another - early retirement so I can spend more time with my 6 kids - coming soon! lol
GlobeTel Completes Expansion and Upgrade of the Los Angeles Telecommunications Facilities
FORT LAUDERDALE, Fla., Jul 08, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it has upgraded its telecommunications center in Los Angeles by acquiring additional state-of-the-art telecommunications equipment and that it has completed its move to a larger facility.
The new facility has over 6,000 square feet and has the capability of terminating over 500 million VoIP/TDM minutes per month. In addition to the ability to accommodate the company's current wholesale carrier traffic, the Los Angeles network will accommodate the expected volume from the pre-paid calling card function of its Stored-Value Card program and IP phone operations and still has expansion capabilities to enable the handling of the wireless traffic from the Company's Stratellite and HotZone Wireless operations.
Timothy M. Huff, CEO of GlobeTel, stated, "The expansion of our Los Angeles facilities is a planned growth move for us to meet our planned growth objectives. The expansion illustrates the way our independent business units interact and complement each other. I am exceptionally pleased with the progress of all of our business units and we are looking forward to continued business growth and increases in revenues. All four of our business units are operating as planned and I am pleased with their continued progress."
About GlobeTel Communications Corp.:
GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services Company. GlobeTel operates business units in Stored Value debit cards, as a certified MasterCard processor, the sale of Carrier grade VOIP of Long Distance to major Long Distance re-sellers, VOIP Technology and development, and high altitude airship research and development. These self-contained business units were developed to operate independently of each other. The symbiotic relationship however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.
Operating on a global basis, GlobeTel has historically focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.
Additional information concerning other areas and topics of GlobeTel can be found on our web site at http://www.globetel.net
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Placement Act of 1995. The words "forecast", "project", "intend", "expect", "should", "would", and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements. The above are more fully discussed in the Company's SEC filings.
SOURCE: GlobeTel Communications Corp.
Just notice Globetel is looking for more team members.
http://www.globetel.net/about/careers.html
Kevin
Ms. Laina Raveendran Greene joined the Board of Directors of the Company in February 2005.
Since 1998, Ms. Greene has been the CEO of GetIT Multimedia Pte. Ltd., a Silicon Valley company based in Singapore. GetIT Multimedia is a content development and delivery company providing solutions for e-learning and e-communications. Ms. Greene has also worked as Business Development Manager for Singapore Telecommunications Limited; an adjunct lecturer at the National University of Singapore; worked with the Singapore delegation during the 1990 GATT-Uruguay Rounds; and acted as a legal consultant and advisor to the International Telecommunications Union (ITU).
http://www.equitygroups.com/amex/gte/messages/5081.html
Kevin
ASIA PACIFIC FORUM ON TELECOMMUNICATIONS POLICY AND REGULATION
Report from 15-17 June 2005. Sorry if it is a repost, I don't remember seeing it. Looks like GTE is getting noticed:)
Link to the word document:
http://www.aptsec.org/meetings/2005/PRF05/docs/PROCEEDINGSPRF(FINAL-27th%20June).doc
From Page 15
"Ms. Laina Raveendran Green, GetIT, Singapore, reviewed private sector initiatives and new players influencing developments including GlobeTel stratellite initiatives, Globeltel’s role in private equity funding, privatization of incumbents, and new players in infrastructure, content and services. Access to capital remains a key issue, with a move away from traditional sources (national treasuries, debt financing, multilateral agencies, privatisation) and toward newer forms (IPOs, strategic partnerships, public-private funding, corporate funds). Social funding was also important in some cases – including micro-financing, community financing, self-help groups, “social philanthropy” from some corporations). Venture capitalists are prepared to take risks for high returns and funding sources need to be matched to the purpose. In conclusion, she encouraged regulators to consider the full range of options that might be available in particular circumstances.
Responding to a request for further information about stratellites, Ms.Green explained that the airships were equipped with wireless broadband services that could cover an area the size of Texas. She also mentioned that in the early stages some countries opted for concessions rather then privatization – other options that could be examined."
Enjoy
Kevin
It is people like you who make it hard for shorty to cover. lol Keep up the good work!
Day 7 on short list.
Have a good night
Kevin
S-3/A released 7-1-2005 EOM Kevin
AeroEngr84 - you stated "I am not a stockholder". So why are you so interested in GTE and what GTE shareholders choose to invest in?
You talk so much about Huff coming clean with us. I think you need to come clean and explain why you would waste your time posting about a stock you do not own, unless of course you have an agenda.
Either way your credibility is suspect.
Post some facts to support your accusations against GTE hiding information
Kevin
Rocky - I also just notice that I probably should have posted my previous post to the other board. If you want to delete or move them, that is fine.
Kevin
Same goes with this post.
Rocky - thanks, I just noticed myself it says institutional volume, not necessarily buying.
Sorry for stating buying
Kevin
52% institutional buying yesterday?
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=GTE&mgp=20050627&i=2&h...
Kevin
GTE day 2 on short list.
http://www.amex.com/amextrader/?href=/amextrader/tradingData/RegSHO/TrDa_RegSHO.jsp
Kevin
Juststocks - I received your message, sorry I can only respond on the public board. (no premium service)
I use ameritrade command center with level 2 and last sale info.
Hope this is what you were asking about
Kevin
Note: bid\ask always look really weird when the market is closed.
For those of you who don't watch the TA board there is a update on TA board you might all want to look at. Could have something to do with the unusual activity today.
Kevin
GTE on AMEX short list as of today!
http://www.amex.com/amextrader/tradingData/data/RegSHO/daily/AMEXth20050624.txt
Rocky - thanks for the response. Do you have any thoughts on the large blocks of after hours shares.
TIA
Kevin
Rocky - do you know if the 144's filed by Terry, Michael and Roth, Andrew are pre or post splint numbers. I would assume they are pre split, but I have been wrong many times.
http://www.nasdaq.com/asp/Holdings.asp?symbol=GTE&symbol=EGHT&symbol=MOBL&selected=GTE&a...
TIA
Kevin
lowtrade - question - who's shares are they buying?
Kevin
Could be, kind of fits with my thoughts. If this is the buy in level of the big guys, I feel bad for the longs who got impatient.
Kevin