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PV is the one undermining investor confidence. If shorting exists to the extent tat you claim, they in turn take advantage of the weak investor sentiment.
Right now we either don't have the volume or the investor confidence to overcome the naked shorting you speak of.
Incidentally if PV is thinking about the move to AMEX being a cure to this problem he is mistaken once more. AMEX is just as bad as the OTC-BB
I don't believe it either. Just an excuse bad CEOs make to cover for their own failings.
I hope PV isn't one.
There are problems with NMKT's management. Simply doing a "mea culpa" isn't enough. Then he keeps doing what he has always been doing:issue more fluff PRs. The latest example is the APII deal which was flogged with numerous PRs only to go nowhere.
What was the point of these PRs? Did management not know whether or not the price of admission would be too high relatively early in the game (ie. outstanding warrant issues and perhaps others)?
The good thing is that it didn't go on and on and then fall of the radar screens.
There are other disagreements I have with PV: one has to do with the reasons he has advanced for not doing a reverse split. His reasons are not true. If a reverse split is done for the wrong reasons then the market will punish you for it, if you have a sound business plan (not a blizzard of fluff PRs) then you will be rewarded.
As for me I've had my fill of PV. When this stock goes near my entry price I'll be bailing out.
PV is not completely sincere and the market is suspicious of him. Another example: in one of yesterday's PRs he brags about dilution having come to an end, yet in the official 3rd quarter 10Q the need for issuing more shares to raise money is clearly stated.
Does PV really think we are a bunch of fools that will rely on his PRs rather than official filings?
Nake shorting amounts to printing counterfeit money. Legitimate shorting can check excess exuberance. I trust the S.E.C. knows the difference (sarcasm).
Was this a documentary on PBS? I heard of something of that nature but where or when I am not sure.
I don't think it is a case of the SEC "turning a blind eye" as it is going after the most flagrant cases to make an example to the rest.
The SEC has limited resources so they'll prosecute the most flagrant cases to serve as notice to the rest.
How can we confim that we have a serious FTD case with NMKT?
Is the FTD the same as the naked shortage of the shares? The nerger would have forced covering of the naked shores.
Where can we get accurate figures on how may shares are illegslly shorted?
That may be true, unfortunately the deal was touted as the next best thing to sliced bread prior to deciding against it.
Doesn't help NMKT's credibility. We still come across as another OTC-BB company.
Time for PV to go. Why?
Look at this:
http://newmarkettechnology.com/newsreleases/news-20061019_2.htm
Looks like PV put a great deal of emphasis on the merger with APII going through and flogged this non-event to Hades.
Is PV a liar? No. Is he a loose cannon? Looks that way and that is the reason why our share price is tanking. The market is sceptical of anything PV has to say. Why? Because he has a propensity of jumping the gun. Repeatedly!
How do we replace PV with someone with a proven track record and greater credibility?
Yes it was. There were unresoved issues such as the warrants outstanding, one item that I am aware of after having talked to Mr. Lutz last week.
Wow! I noticed too that it was in a bearish trend until November/December of 2005.
I post under lmckeen in RB.
Cannot find what you are talking about.
How was it a hoax?
That is your opinion. The SEC and AMEX have what they need.
I am sure many other shareholders and the SEC will be interested in Delta Aero.
Wonderful. More dirt from GTEM's management!
That is exactly what I said. No retraction whatsoever. The SEC will fry him.
They aren't independently audited. Not that it would make a difference to GTEM's management.
In a few words: No growth quarter to quarter
I haven't attacked anyone except Tim Huff who still has a job at GTEM. He lied but he got well paid. That is an outrage!
Are you suggesting that we become like the Chinese?
If there is a crook I am sure the SEC will get them this time. Huff will not get away with it.
My ilk? Bear raids? Are the bears also responsible for the LOIs going nowhere? Flat revenues? Generous executive compensation (for doing nothing) while the company hobbles along?
You have to wait until the 10K to see all of them coming to naught.
What about minority shareholder rights? You'll be squealing the loudest when Kostro acts on behalf of the 'large shareholder' and against yours.
August 2004 Letter To shareholders
http://www.globetel.net/about/letter081604.html
To Our Valued Shareholders,
In this letter to you, I want to give you a more detailed update on current activities and plans for the rest of this year. I will cover our financial goals, the makeup of our revenues, internal investments, a market update and our ongoing vision for the company.
We have made considerable investments in the future of our company over this year, and I would like to describe these investments and the payoffs expected from them.
Financial Components - An important part of understanding GTEL is that our current carrier-based revenues that will start to build over the last half of this year will produce low margins and is not our long term focus. However, it provides a base in which to build. As our retail products such as Magic Money, one of our stored value programs and Magic Phone, our IP-Telephony program, start to build customer loyalty, they will create increased margins and revenues to add to the already ramping carrier business. We will move from high revenues with small margins to higher revenues with large margins.
Financial Goals - As I mentioned in past releases, we expected our first and second quarter growth in revenue to be flat as we focus our efforts and attention to developing, launching and supporting the new product initiatives of the company.
This doesn't mean that we have forgotten carrier sales. Late in the second quarter we started our relationship with a well established carrier group, Carrier Sales, Inc. We formed a company named Centerline Communications in which will draw from both parties' strengths. This initiative is already producing results as we expected.
Our carrier sales will grow significantly in the third quarter and be in full swing by the end of the fourth quarter 2004. Our fourth quarter revenue will grow to approximately $4M to $5M per month, which equates to a $48M to $60M annual run rate. The end of the first half of 2005 should see us grow to a $100M annual run rate.
The goal is to be a $250M company in 2006. Remember that these are goals, and we will devote all of our efforts to achieve them. As such, I will try to give our shareholders the most reasonable forward-looking picture possible.
Project Chart of Revenue to Margin Ratios
View Graph
Carrier sales creates large revenue base per client. One client can bring hundreds of thousands of dollars per week if not millions. The drawback of this revenue stream is that as you grow it, it becomes harder to achieve desired margins. This is demonstrated in many carrier-based telecommunications companies today. Our goal is to combine the carrier business that is a by-product of our IP networks with the business of our high margin retail based business to create a high-revenue with high-margin stream.
The monthly fee based income from our stored-value card or our IP telephony may not create large scale revenue from each customer but is much higher in margin, and as our client or subscriber base grows incrementally every day, the gross margin becomes a larger portion of our bottom line, daily, weekly and throughout the years. Thus, a $50M carrier business trying to maintain a 5 to 7 percent margin can be combined with a $25M Value Added Product business with a 30 to 40 percent margin to create a $75M business with a 13 to 20 per cent margin, and it grows! As we acquire new customers and retain our existing ones, we will build a business that is solidly diversified in the wholesale and retail markets.
Investments
We have invested heavily this year in the organization, both at home and overseas. We have made investments in key people, like Leigh Coleman, GTEL President, who moved to Miami from Australia. Joseph Seroussi is working with us to develop the technology and stored value programs. We further added depth to our marketing team with Laura Garfinkel, helping us support and develop marketing programs as Director of Marketing. David Savitch assumed responsibility for U.S. carrier sales. Overseas, we appointed two (2) country managers, Phil Harris in Australia and Anton Romulo in the Philippines. This is not to mention the substantial investments made in equipment and corporate structure made around the world to support these efforts.
These are serious investments made to develop and support the opportunities and programs that I mention in my letters to you. You only have to see the progress being made by the number and frequency of major announcements being made on our web site, to appreciate the need for such investments at this point.
These investments and the return on them will occur in 2005. However, these investments needed to be made now in 2004, if we are to grow GTEL.
Company Vision
Mission Statement - "To enable individuals to communicate at anytime, anywhere in the world; allowing them to transact and interact personally, financially and in a simple and straightforward way that they have never been able to do before. To free individuals from the confinement and inflexibility of current technology and provide them with more freedom, choices and options."
We believe that the world is about to undergo a Paradigm shift. GTEL is positioning itself to take advantage of this shift.
We believe that, as digital technology created whole new multi-billion dollar industries and companies, IP technology and the deregulation of the communications industry on a global scale will also create multi-billion dollar industries and companies. A little known microwave company mainly designed to handle communications for the trucking industry in the Midwest was aware of such a Paradigm shift in the communication industry. MCI (Microwave Communications Corp.) saw the digital age coming and road the wave to become one of the worlds premiere carriers and a multi-billion dollar company. Digital technology had been around for decades, but when opportunity and market conditions crossed, MCI stepped into the void and created one of the best success stories of our time. Yes, MCI competed as a carrier but added value-added products to the product base. This was the difference. GTEL stands at the door of this opportunity.
There is not any question that the world of communications is about to undergo a global change. We feel with the combination of IP technology, financial based products, last-mile solutions (Sanswire), and CPE (Customer Premise Equipment) will enable GTEL to provide a door-to-door solution for just about any transaction.
We plan to integrate the needs of our customers, their communications needs, credit card, international funds transfer or remittances, education, surveillance, content delivery, TV broadcast and cell phone services all on our networks all over the globe.
Yes, this is a very aggressive set of goals, but we feel we have the plan and the resolve to achieve this. With the construction of the prototype of Sanswire, we will get GTEL international attention. This will truly change the world and how we communicate with each other.
I believe that you must be able to dream it before you can achieve it.
Market Update -- Many of you are long time shareholders and have been very patient with your investment. Our management team is committed to creating a company of substance and value. This doesn't happen overnight. Our plans were first to restructure the company, which we have. The company today has a clean corporate structure and is incorporated in ways that give it the ability to grow. Second was to develop opportunities and products that gave GTEL competitive advantages in the marketplace and to do this on a global scale. We have produced several products and services that give us the advantages and we have invested in developing a global reach and an international workforce to deliver these products and services. Finally, we planned to create shareholder value. We have been actively working to recreate GTEL into a company that can give value to its shareholders.
GTEL currently trades in the OTCBB, where value is not necessarily given to companies that have potential and are making progress. We plan to move from the OTCBB to a larger trading Board.
These plans will be released by the end of the year and most likely will be a move to the Small Cap NASDAQ Board or the American Stock Exchange Board (AMEX). The AMEX offers us the ability to move easily and quickly. We technically meet the requirements for the AMEX now. Since we are a $50m plus market cap company, we fit within an exemption that allows us to list without any consideration to price per share. Which board we decide to go to is still being decided.
Our plans are to start effectively telling our story, not only to the general public but to funds and money managers and to complete this process by the end of the first quarter of 2005.
I want to thank you for your time and I have never been more excited about the future of GTEL.
Best regards,
Timothy Huff
CEO
GlobeTel Communications Corp.
I am raising my doubts about the company and posting them as such and that is my right.
Sorry but are you an insider? How would you know this?
All the dirt is not out on GTE(M). Carterham and the new <em>'interim'</em>CEO to me spell conflict of interest and the dismantling of GTEM's assets.
One of the AMEX charges was about irregularities in filing and witholding information. Have these been resolved? When will the SEC shoe drop?
If on the other hand you wish to cling to the fiction that everything is well with GTEM that is your choice.
The share price of GTEM did not recover with the last PR from interim CEO Kostro. That ought to tell you something.
Damned right! It stinks. There are other shady innuendoes about Tim Huff that Seth Jayson mentioned.
Oh really? You mean the SEC is done with its investigation? The lawsuits are all settled? Tell us more.
I would be much more suspicious of management, especially GTEM's, given their track record.
Huff should have been booted out, not given another position in the Company. Same goes for Dumas.
There are still many loose ends that they are not forthcoming with.
I am very uneasy with Kostro and his relationship with Caterham and GTEM's 'dependence' on Caterham.
It is my hunch that the stratellite project will be scrapped: How unique is GTEM without that?
Do we have any proof that both Kostro and Khoury are experts in turning basket case companies around? That would help.
On the other hand we don't really know what the true 'finances' of GTEM are. Nothing that this company has stated has been believable. If financials are to be restated (I believe they will) as there are charges AMEX has made in this regard.
So brace yourself for more dirty laundry to come out of GTEM. It will come out not because of the new management's say so but because they will be forced to.
No. The 10K is not due in December.
November 15th or thereabouts
GTEM management plainly blew it! No conspiracy, nothing!
I didn't say 10Q. I said 10K.
See message 46364
Page 36 of 10K
http://www.secinfo.com/d12TC3.vCu4.htm#10nn
The company anticipates increased cash flows from 2006 sales activities;
however, additional cash will still be needed to support operations. Management
believes it can raise capital from various funding sources, which when added to
budgeted sales and current working capital, will be sufficient to sustain
operations at its current level through January 1, 2007. However, if budgeted
sales levels are not achieved and / or if significant unanticipated expenditures
occur, or if we are unable to obtain the necessary funding, the company may have
to modify its business plan, reduce or discontinue some of its operations or
seek a buyer for all or part of its assets to continue as a going concern
through 2006.
Or did you want to know how much management compensated itself in 2005?
In view of the litigation, SEC and AMEX investigation(s), the public disclosure of GTEM's association with "shady" characters and accounting irregularities, I take issue that GTEM's ability to raise cash will be a cakewalk.
Not where he ought to be ;)
It is very likely speculation, IMO.
It will be to the advantage of Caterham (Kostro) and disadvantage to retail investors.
Isn't this a conflict of interest? Or am I wrong?
Misleading PRs on a repeat basis, LOIs that went nowhere, no follow up, the Russian fiasco, Letters To Shareholders versus the actual filings.
Who was responsible for both?
I have been here for a very long time. I know all the people and ADGI/GTEL/GTE/GTEM's history.
I think my outlook since 2001 on GTEM has changed considerably and it looks like we will soon have 'closure' on the matter.
It won't be good.