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Open Letter to Board Members - I intend to publish this letter on all GTE Member boards including the board which I own and moderate. I think every GTE shareholder should contact Tim Huff(preferably by email) regarding the near disaster yesterday that was CAUSED by our esteemed specialist, J. Streicher & Co., dumping an enormous number of shares on the market thereby causing the collapse in the share price. This company has been indicted and fined for past misconduct of this type. In many respects this was worse than anything the MM's did to us when we were over on the bulletin board. Tim Huff has shown amazingly good judgement in many areas over the years but when he screws up he also does a masterful job and the selection of J. Streicher has been one of them. We also need a professional IR/PR operation and he is being made aware of some ideal candidates.
Note to Rocky: I have great respect for both you and your board and I hope this doesn't violate your rules. If you wish to discuss this with me contact me at fynley@yahoo.com.
Lap - What are your predictions for a breakout and how far up do you think it will go?
I think we can all agree that PLNI has an intelligent gameplan in place and good future prospects. Mr. Turek has been very forthcoming about his plans and for now I'm prepared to take his word. I've spoken with people who know a lot more than I do about the construction industry and they are impressed with PLNI's product line which is reason enought to own this company. In the short term this absurdly low S/P is simply an opportunity to pick up more shares which I for one intend to do.
Laptop and others. Yes, I am still involved with GTE and optimistic about its prospects. Lately I have expanded my horizons to others such as HISC and PLNI, both of whom I believe have great possibilities even though, as you say, they are pinkies. I don't know if it's OK to say this but we have a board on yahoo for GTE AND small caps stocks and we also have a chatroom which I am inviting all of you to use. I am allways interested in sharing information with others about making money which is what this is all about.
I invite all of you to check out our board at:
http://finance.groups.yahoo.com/group/GTEInvestors/
Laptop-It's good to see you over on this board. I'm a great believer in fundamentals and I'm puzzled not only why the stock dropped in S/P yesterday but why it didn't go through the roof after what happened in London. I'm impressed with their product line and balance sheet as well which makes it even more unlikely that this company should be selling for under .04. Enlighten me please.
Report of The Goodyear Crash:
ATL05CA100
On June 16, 2005, at 1842 eastern daylight time, a Goodyear GZ-20A airship, N1A, registered to Goodyear Tire & Rubber Co., and operated by Goodyear Airship Operations, collided with trees, power lines, and the ground in Coral Springs, Florida. The aerial display flight was operated under the provisions of Title 14 CFR Part 91 with no flight plan filed. Visual meteorological conditions prevailed. The commercial pilot and the passenger reported no injuries, and the airship sustained substantial damage. The local flight departed Pompano Beach Airpark, Pompano Beach, Florida, about 1530.
According to the chief pilot of the Pompano Beach base of Goodyear Airship Operations, the pilot received a weather briefing from an Automated Flight Service Station about 1245, prior to the airship's previous flight that day. The pilot stated he departed Pompano Beach Airpark about 1530 and flew south to the Miami Beach, Florida, area, and "the weather was good along the coast with a few isolated showers southwest of Miami." At 1630, the pilot turned the airship back toward Pompano Beach with an intended landing time of 1800. The pilot stated, "I made radio calls to the home base to check on the weather status. ... At approximately 1725, we were two miles northwest of [Pompano Beach Airpark] when the isolated showers in the area north and south of us appeared to be strengthening. At this time I made a radio call to the base to ... state my intention to land as soon as possible."
As the pilot headed the airship toward the airport for landing, he stated he saw numerous cloud to ground lighting strikes within one mile of the base. The pilot stated he did not want to expose the ground crew to the risk of a lightning strike, and he decided not to land. According to the chief pilot, ground crew operations include the handling of a tall metal mooring mast, as well as the handling of the nose lines of the airship. The pilot decided to fly the airship out of the area to wait for the storms to pass. The chief pilot stated the airship was equipped with a weather radar system that was capable of scanning an approximate 45-degree arc directly in front of the airship. The chief pilot stated he was at the base monitoring area weather radar, and he maintained radio communication with the pilot to provide weather updates every few minutes.
The pilot stated that, as he flew the airship west to avoid the storm, the weather deteriorated rapidly, and he encountered "heavy rain, lightning, and severe outflow and downdrafts." The pilot stated the airship became "unable to climb, make headway, or maintain directional control" with full power on the engines, and at one point the airship was "being pushed backward and down at full-power climb." The pilot's efforts to regain full control of the airship were unsuccessful. He stated he attempted to guide it away from residences, and the airship struck trees and power lines and came to rest on the ground in an industrial complex.
Witnesses on the ground reported seeing the airship pitching and rolling before losing sight of it in heavy rain. One witness, who stated he is a certified storm spotter and HAM radio operator, observed the airship and the developing weather from before 1815 to approximately 1835. He stated, "the blimp looked to have been to have been caught in a very quick developing storm and got stranded from home base."
Examination of the airship revealed the envelope was torn, the right propeller was damaged, and the lower fin was damaged. The pilot reported no mechanical malfunction of the airship.
A review of recorded weather data for Pompano Beach Airpark revealed at 1553 observations included wind from 140 degrees at 9 knots, visibility 10 statute miles, and scattered clouds at 2,500 feet; at 1730 observations included wind from 160 degrees at 13 knots, visibility 10 statute miles with thunderstorms in the vicinity, scattered clouds at 2,000 feet, lightning distant south and northwest; at 1845 observations included wind from 300 degrees at 10 knots, visibility 2 statute miles, thunderstorm, heavy rain, mist, ceiling 700 feet broken, 2,100 feet broken, 7,000 feet overcast, and lightning distant all quadrants.
A review of weather forecast data revealed Convective SIGMET 20E was issued at 1455 for an area that included the Miami Beach area and was valid until 1755. Convective SIGMET 20E included the following information: Developing area of thunderstorms moving little, tops to FL [flight level] 400. Convective SIGMET 26E was issued at 1755 for an area that included the accident site and was valid until 1855. Convective SIGMET 26E included the following information: Developing area of thunderstorms moving little, tops above FL 450. A Miami Center Weather Advisory was valid from 1735 until 1935 for an area that included the accident site. The weather advisory included the following information: An area of widely scattered Level 4 and Level 5 thunderstorms with moderate rain moving little, maximum tops to near FL 450, coverage increasing slightly through 1935.
A review of the published FAA Approved Flight Limitations for the GZ-20A revealed the airship was certificated for operation in "extremely turbulent air: 20-30 ft/sec gust." The operating limitations stated the airship's maximum level flight speed is 50 mph indicated airspeed, and its maximum rate of climb is 2,400 feet per minute.
The distance from Pompano Beach Airpark to the Miami Beach area is approximately 28 nautical miles.
Mr. Turek is not lying and neither am I. An R/S at this time would be a disaster and would not accomplish any of the objectives that he stated in his interview so I am certain he is not only telling the truth but showing good judgement. At some point in the future when this company achieves the financial success we all feel that it will achieve we might have to review this policy in the interest of the shareholders. Read the requirements for listing on AMEX and NASDAQ and you'll see what I mean. The biggest single advantage of getting off the Bulletin Board is that institutional investors will then be able to purchase PNLI stock which they cannot do now and which will give great support to the S/P which we don't have at present. If Mr. Turek failed to take advantage of this possibility then he wouldn't be doing his job as a CEO.
Actually I didn't come here to argue. I've made a significant buy of PLNI shares and I intend to buy more. I was impressed with Mr. Turek's interview on Greenbaron and it's possible that I may have met him since we both worked for McDonnel-Douglas at the same time doing virtually the same job. There is a dearth of real information available on PLNI and I would appreciate hearing from any of you who have done your DD and are willing to share it. Additionally, I'll close by saying it doesn't matter who owns the shares, they are all part of the float. If we get our house in order and get back on the OTCBB it could very well be that once we have a couple of profitable quarters we could easily do a sensible R/S as a way of getting listed on NASDAQ.Mr. Turek said virtually the same thing in his interview. Then all of our shares would really be worth something. JMO.
They allways deny R/S's until they happen. This float is enormous and if PLNI has any hope of eventually getting on NASDAQ they will have to reduce it. Hopefully we will have earnings by that time and won't suffer the fate of most companies that do an R/S. I'm presently holding a company that issued similar denials until they recently did a 1:15 reverse in order to get listed on AMEX. So far the S/P has sagged almost 40%.
Let's hope Turek and company use some of the projected earnings I've been hearing about to buy back shares and reduce this bloated float.
AeroEngr84. In addition to whatever technical credentials you may possess it is also obvious that you are a master at mixing metaphors. Ex: "poisoning the well" refers to creating a situation where others with similar interests will not be believed or trusted. "Sucking all the oxygen from the room" means that you (or your ideas) are so exciting that others attempting to be heard are not noticed or are simply ignored.
Further down you make reference to some us "peeing in our pants" but then you go on to state that this is a result of GTE Investor Relations knowing how to hit our "G" Spot. Of course only females have a G spot and many of our investors are males. Likewise I don't believe the G spot is associated with elimination.
What you are doing here is open to question but I do appreciate the link you posted and I would advise other to do their DD here and anywhere else reliable information might be available.
Latest Results From AMEX
Company Symbol Last Sale Net Change % Change Volume News Chart
Grey Wolf, Inc GW 6.40 0.04 0.62 2,639,100
GlobeTel Communications Corp GTE 3.00 0.25 7.69 2,043,700
Bema Gold Corp BGO 2.18 0.09 3.96 1,773,900
Nabors Industries Ltd NBR 56.84 0.66 1.15 1,225,300
IVAX Corp IVX 19.59 0.21 1.06 1,054,900
Northgate Exploration Ltd NXG 1.16 0.02 1.69 740,500
Golden Star Resources Ltd GSS 2.93 unch unch 679,500
Crystallex International Corp KRY 3.70 unch unch 531,200
Provident Energy Trust PVX 10.12 0.04 0.40 507,600
ENGlobal Corp ENG 3.87 0.19 5.16 464,700
Tim Huff is getting paid to run this company with the assistance of what appears to be a pretty competent bunch of people, excepting the PR department of course. Personally, I'd rather see him talking to potential clients than answering emails. I've been hearing a lot of these types of complaints since I first bought in back in 1999 and yet we've survived and are now listed on the American Stock Exchange and may soon be selling low altitude satellites to the United States Goverment. A lot of things could still go wrong but after 5 years of watching this company snatch victory from the jaws of defeat I prefer to be optimistic. And yes, we probably could use someone on the staff to handle IR/PR problems and answer emails.
We got our butt kicked for nothing. I was one of many people on this and other message boards pleading with people not to call Jim Cramer regarding our badly named stock (GTE). He hates small cap telecom companies for good reason, none of them, including us,have ever made a dime of profit. GTE here in California was so bad they used to run TV commercials making fun of themselves. To repeat an oft quoted lament, when is this outfit going to hire someone who knows PR. On the bright side I've been with this outfit since '99 and I remember quarterly reports which stated frankly that we might not SURVIVE until the next quarter. Well, we're still here and it looks like our prospects have improved. Now if we can only wait until some of these good prospects come to fruition, maybe we will see a significant rise in our share price. In the meantime, would somebody please tell Gia in New York to stop calling Jim Cramer.
Please don't call Jim Cramer. From what I know of him he wouldn't have anything positive to say about us at this time and we don't need any negative publicity, especially after today.
pick_the_one - Go to yahoo and then to groups and check out GTE Investors.
Unfortunately for me I live in California and I will have to be up at 6:30 AM for the opening of the American Stock Exchange but I wouldn't miss it for the world after 5 years of holding ADGI/GTEL. Sperry Younger of Fordham Securities(our banker) has been invited by AMEX to ring the opening bell which tells me that GTE is allready being taken very seriously by people who matter. I don't know which, if any, of the financial TV channels covers the AMEX opening so if any of you know please pass it on.
Best of wishes to those of us who have.....
Hung in there!!
Bob
Rocky - I may have missed it since I don't allways have time to check out the message boards but what I haven't seen yet is any detailed analysis or justification for GTE being considered a $4 per share stock or being able to stay at that price very long after joining the AMEX. Due to the R/S we may very well open at that price but are the institutional and other professional investors going to support us at that price? One big advantage of being on the bulletin board was that you could inflate the value of any stock, at least temporarily, with nothing much more than hot air as evidenced by the 2 runups we've had this year so far. Do you or any others on this board genuinely feel that the 1Q report just released makes GTE at $4 company. I have doubts but I sure would like to see some other opinions.
One Other Possibility - Somewhere in the hundreds of PR's and thousands of messages postings I've seen since I bought into this company back in '99 was the refrain that ADGI/GTEL was structured in such a way as to be taken over by a larger company once it demonstrated its bonafides in the marketplace. Obviously this couldn't be done while we remained as a 2-digit stock on the bulletin board. We have allready demonstrated that we are far in advance of some of the giants in the telecommunications field who have come late to VoIP. Is it possible that there is a tender offer somewhere in our not to distant future?
Rocky - Is it possible that there are persons who might be protected from the consequences of this reverse split? I'm no expert on the various types of financial instruments that are available but I do know that GTEL issued an instument to investors not long ago that contained an anti-dilution clause. Every time the company increased the size of the float these investors received a corresponding amount of shares. Is it possible that some people have an anti-deflation protection that will save them from losing 14/15ths of their shares are the rest of us are going to experience. Are some of our executives who are holding 25,000,000 share blocks really going to be happy seeing that number dwindle to 1,666,666. I realize that the split is supposed to raise the share price to $4.00 but there is nothing to prevent that price from being bid down once we are being sold openly on the AMEX. A scant few weeks ago Tim Huff's 25,000,000 shares were worth $9,000,000. I've met Tim and I find him a forthright, open person. I'm hoping that he didn't make a
rash decision here. For example, if the 1Q report is as good as everyone says it will be then why didn't they wait until it came out.
I decided to stand fast. I've been with GTEL since it was ADGI back in '99. I'm just saying what I'm sure you've heard from many others that I would have like to see this done differently.
Anyone know what the opening price will be on the AMEX for GTE?
San Bernardino Meeting
I've been long in ADGI/GTEL since 1999 yet I feel that today marked a milestone in investor relations that I hope sets a precedent for the future in company/investor relationships.
There were more than 300 people at the meeting which was quite a surprise considering where it was held. We all had an opportunity to speak with the GTEL and Sanswire people who were there and we were introduced to them during the meeting. We can now attach a face to names like Przemyslaw Kostro, Leigh Coleman, Paul Taboada, and the others whether we spoke to them or not. All of the Sanswire people who were introduced had impressive credentials in government and aerospace and presented a positive and dedicated image.
Tim Huff struck many positive notes and where there was negative news he handled it well. No, we will not be launching the stratelite later this month and in fact it might not happen until sometime this summer. This is due to objections by the FAA which were mentioned in today's PR release. It helped to hear Tim talk about it. We are still negotiating with AMEX and we are still on track to be approved but, again, it's not going to happen as soon as we hoped, not because there is anything inherently wrong with GTEL, but because both sides are going at this in a manner that will guarantee that all sides, especially the investors, will benefit from the relationship. The way our company is growing there is no real doubt that we will be approved for AMEX membership in the very near future. At that point we will also become an attractive investment for the many institutional investors who have been following our progress.
The first quarter report should be out before the end of April marking another milestone for GTEL. Remember when we were getting those "E"s on our stock symbol. That is now a thing of the past. There should also be additional good news out later this month.
All in all I was very pleased by the outcome of this meeting and I hope it sets a precedent for out future relationship with GTEL management.
Hang in there!
Bob
Russ. I will be in San Bernardino tomorrow and I will post everything I see there. I'm assuming that there will some kind of get together either before or after the event and I'm looking forward to meeting as many of you as I can.
Bob
California Board Members - I will be at the showing on Tuesday, April 12th, at the San Bernardino Hilton, along with some friends of mine who are also GTEL investors. I would like very much to meet some of you and, if possible, get together with Tim and some of the other company officers for a chat. It's been a long time but I think we are about to see our hopes for this company fulfilled. See you tuesday!
Bob