It will sound good and positive, WHEN AND IF THE FIRST PAYMENT IS MADE, Why wasn't a payment made at the signing or very soon after? Now that would be POSITIVE. Nothing is positive until the money is on the table.
Holter Writes:
Read this from 8K NO install untill first payment. That will be a lot of money. Sounds good and positive to me.
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Globetel Wireless Corp. a wholly-owned subsidiary of GlobeTel Communications
Corp. has entered into an agreement with LLC Internafta, a Russian corporation,
whereby Internafta will pay Globetel $600 million to construct and install a
communications network in the 30 largest Russian cities. This communications
network will utilize Globetel's HotZone 4010 WiMax (802.16e) capable radio. It
is intended that this network will provide wireless broadband access, Voice over
IP capabilities, DECT functionality, and IPTV capabilities.
The networks will be installed in the cities over a 27-month period. Payments to
Globetel are pursuant to a schedule that includes certain milestones. Payments
will be made via a Letter of Credit confirmed by a US money center bank.
Globetel will not commence construction until the first payment has been made by
Internafta. Additionally, Globetel will help operate the Russian networks once
constructed and will be a 50/50 joint venture partner with Internafta in the
networks' operations.