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Hall of Fame post of the week posted 10-9-2007 after Globetel received a Wells Notice on 10-05:
Multi, take a deep breath. Joe M. received a Wells notice, not anyone else at GlobeTel. He was fired. GlobeTel has continued in business and has been cooperating with the SEC. They are currently spending money to get their financials current. If this were a "sham", the SEC would have figured it out long ago.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23523181
But all is not lost there is interest with the U.S. Navy and an Isreali defense contractor. siriuslyricher you still believe this?
LOL
I have AHR on my watch along with RAS (Rait Financial Trust).
Got in on Ivan pretty low but I am going to hold that for awhile because of this, worth a look. its not a PR:
http://www.consumersforpeace.org/news_abboud_toxic_bob_waiting.html
Why? Good luck!
Feel sad about this. I lost a good money machine in 2005-2006 recognizing the scam it was. No need to say more. Good luck all.
What I find questionable is 34 million in revenues ending 9-30-07 and they only expect
$50 MM in sales over the second half of the year! That is only $16 MM in the 4th quarter. Not a sign of a good potential growth company. Last Dec revenues were 24.4 MM.
SOYO's shareholder letter stated that $50 MM and 16% were predicated on its ability to raise an additional $5 MM in capital. The Company has not yet raised that capital and this is the reason we were not able to maintain the 16 percent blended margin.
IMO the company made early shipments for Christmas in the 3rd quarter this year to drive the stock price up to allow them to sell shares to raise the 5 MM needed. What will happen when they show a big drop when they announce the 4 quarter revenues?
I would have to go to Comp USA, Office Depot or Office Max and see what products they have, and how it compares.
http://www.soyogroup.com/vendors/vendlist.php?type=Retailer
Just a few months ago I was looking into a stock that sounded good (Three Sixty Inc) whose products were to be in all CVS, Walgreen and Target Stores. I went to all the stores and no one ever heard of the product. Now this company (TSXT) was formed in May, 2007 and now they are changing the name and going into the aircraft business. Lot of companies like GTEM out there.LOL.
http://www.marketwatch.com/quotes/tsxt
All my own opinion.
Name change, reverse split and direct stock acquisition at no cost should explain any manipulation being done and why. Could that be where the added expense came from?
25-Sep-07 DE JOYA ARTHUR Officer 4,157,143 Direct Acquisition (Non Open Market) at $0 per share. N/A
21-Sep-07 CRIST MARK Director 571,429 Direct Acquisition (Non Open Market) at $0 per share. N/A
21-Sep-07 FLEMING JOHN Officer 6,952,343 Direct Acquisition (Non Open Market) at $0 per share. N/A
http://finance.yahoo.com/q/it?s=GMFX.OB
Webcore asked,"Is it mandatory they go to a publisher and incur publishing expenses for the annual report?"
Here is your answer from SEC changes made in Dec 2006.
They do not have to print and send an annual report. They have to send a notice 40 days before the annual meeting and another notice 10 days before the meeting.
http://www.oppenheimer.com/news/detail.asp?ID=721
So the way I see it they will incur a large expense to send out printed material or they will have to send a notice 40 days in advance, the way things are going they will not have an annual meeting this year because of the 40 day rule or because they won't have the money to print and mail the report.
Personally I don't think they will ever have another annual meeting because they are non complient by SEC listing standards and have a chance of getting delisted from the Pink Sheets. Which would be the best thing to happen for Kostro and JL. to be a non reporting company. They can hide everything with no stock trading and do not have to answer to shareholders and slip into a different shell.
I think most of the people who started posting negative comments started because of the open house for the Strat. From that time on it became over promoting by shifting from one division to another. From Sanswire to Centerline to Stored Value Card to Voip to Hotzone back to Sanswire all the while nothing being accomplished other then seeing the stock price move like a yo yo.
Now they are broke yet people still believe. If they couldn't do anything with a lot of money, haw can they do anything with no money?
As far as a ray of hope, it is always there, until the dog is dead it always has a chance and that is what has kept everyone interested.
As far as your other post about annual reports:
Not every shareholder has a computer or access to the Internet so I would think the mailing would still be required.
From Wikipedia:
"annual report to shareholders", which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document). The 10-K includes information such as company history, organizational structure, executive compensation, equity, subsidiaries, and audited financial statements, among other information.
http://en.wikipedia.org/wiki/Form_10-K
Long term is good for a start-up company that shows continual progress.
Let's see this company spent over 70 million in the last few years and are smaller and then ever. Won't be long before they shift into a shell company that is not subject to SEC filing. IMO
If they ever come out with any financial's, to be compliant with the SEC they will have to come out with an annual report.
If they claim to have 30,000 shareholders will they be able to come up with the cost to produce the report and mailing expense?
I'd agree if you also included present employees. No one cares about shareholders, period.
jfburk: "I don't have any respect for Joe or any former employee who gave us a lot of promises yet never delivered any results."
One potential positive out of the TAO acquisition is it could renew interest in the 50 million dollar letter of intent to fly blimps over Columbia.
You know how positive that could be.
Nerd, I passed on IMMR. Did well on INVC, made a quick .45 per share. Like INVC a lot but hate to pass up on quick money. Looking to by again at around $3.30. Going to be a matter of a short time when this stock will pop big. I just hope my timing will be right. This will be the best internet or banking security ever to come along. I got one of the security cards from Bank of America for a trial and it has to be used for now when purchasing OTCBB and Pink Sheet stocks, INVC supplies the cards and Verisign supplies the tech. The card is the size of a normal credit card and once you log in to your brokerage to purchase a pinkie you push an area on the card and a random led number shows up. You enter the number and that verifies it is you. You need to log in a number the first time to activate the card.
Someone can break into your computer steal your passwords and accounts but will not be able to do anything without this card. Even making a transaction over the phone will require a number from the card. The company has all the patents on the battery and the LED screen and only sells the cards at $1.50 each to banking and brokerages. I don't believe in the hype or the PR's but I have this product, I know it is under trial with BoA. and I think it is great. I think this will be a good trading stock for awhile until the trials are over and it is accepted by a major company(s).
http://www.verisign.com/press_releases/pr/page_042055.html
Nerd you replied on the wrong board.
Innovative Card Technologies, Inc. (INVC) INVC Quote/Level II - News - Quote - Chart
I got to study IMMR, looks like a steady climber all year, not far off its highs. Need to look into that one closer.
Nerd, I am pretty impressed with this product and I think this company will go far. Made this post, take a look.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23249135
I received a card from BoA Friday and it can only be used to purchase OTCBB and Pink Sheet stocks. Most likely this is a test study and will be expanded when accepted. I was impressed and purchased the stock. Supprised there is no announcement about BoA using this, once it does come out it should move this stock and become a household name. Ground floor opportunity IMO.
I did, you are correct. My mistake.
Sorry
Khoury promoted the Strat soon after he got into office, now JL is doing the same. LOL
"Most employment agreements have a terminated for cause clause"
Nerd, Now that makes it too easy for a company to terminate anyone with false, unproven causes.
I worked for a major defense contractor years ago and during lunch hour an employee brought in a rifle and killed a general forman and wounded a forman. The employee after 3 years in prison was awarded his back pay from the company and his prison sentence was cut down. It was proven the company added to his stress by discriminating against him and giving him the dirtiest lowest paying piece work jobs. He had problems at home, went to personal for help, went to the union for help and no one helped him or wanted to even listen. Not only did he get his back pay from the company he was also awarded judgement from his case against the union who also made a settlement with him. True story.
The moral of the story, pay the employee (Joe in this case) and take any charges against him to court.
I believe the SEC inquiry will go far beyond Centerline. Without proof I think the real culperts of this scam are presently in office. Suppositaly Kostro visited with the SEC.
Why? He is COB and wasn't in office during the Russian ordeal or the Huff over promotional PR's. This will go real deep, SEC just has to follow the money and see where it went.
Funny, Joe mentions he received a Wells Notice and you believe him. Anything else he said you don't believe.
Good open minded thinking. Did you really believe in the Russian deal after Seth, Byron etc. thought it was a scam?
So I say this: "You ever think everyone both past and present could have gotten a Wells Notice? A Wells Notice is an inquiry and he has a chance to respond to it to protect himself. Does not positively mean it was him that was guilty. Time will tell."
You ask for proof and then you ask me "Then why bring something like that up, if you have no intentions to back it up?"
HELLO!!!
Last paycheck is a different story. It goes much further then Joe not receiving his last paycheck.
To get any government contracts or sub contracts you have to be an equal opportunity employer. Good luck to Globetel on this.
Now that is just plain dumb. If no one else admits to receiving a Wells Notice how can I prove it. After all the scams and being thrown off the Amex do you really believe Joe is the only one to receive a Wells Notice?
Of couse I could answer with a dumb question to you and ask to prove no one else received a Wells Notice but that is just childish and I wont stoop that low.
So present management is acting as judge and jury, so they don't have to pay him what is due. What are courts for?
Pay him and then take him to court if he is responsible for any wrong doing.
You ever think everyone both past and present could have gotten a Wells Notice? A Wells Notice is an inquiry and he has a chance to respond to it to protect himself. Does not positively mean it was him that was guilty. Time will tell.
Good way for a company not to pay someone....Terminate them.
LOL
So that's a reason for a company not to pay it's employees what is due?
What is this world coming to.
A company has problems so employees at all levels don't get what is due.
You Retire or take an early buyout from a company and later find out they changed your benefits or require you to contribute to your medical insurance and you will feel just like Joe does. Government needs to clamp down on companies like this. If there is a problem with Joe's performance pay him and take him to court to settle any wrong doing he may have done.
It's shameful so many on this board support this company with such unethical practices.
Wyzisk talks about breaking the shorts and the potential of Globetel. Note: stock he was talking about went to $18.50 a share at the time of this email. Scam didn't seem to work this time.
http://www.joemonterosso.com/wyzick-break-short-1-31-07.pdf
Wyzisk wants news to go out to all shareholders of 50,000 or more shares, so they will buy more:
http://www.joemonterosso.com/wyzick-email-1-30-07.pdf
Wyzick needs Joe to push for "us" on this one:
http://www.joemonterosso.com/wyzick-email-1-30-07-001.pdf
How the stock reacted to the big push. LOL They set up for the sting, no takers.
5-Feb-07 0.39 0.41 0.39 0.41 218,200 0.41
2-Feb-07 0.42 0.43 0.39 0.40 521,900 0.40
1-Feb-07 0.45 0.45 0.42 0.43 350,800 0.43
31-Jan-07 0.42 0.46 0.41 0.45 895,600 0.45
30-Jan-07 0.40 0.43 0.38 0.43 306,600 0.43
29-Jan-07 0.43 0.49 0.40 0.41 468,500 0.41
26-Jan-07 0.48 0.48 0.42 0.43 131,800 0.43
Nerd, nice play and IMO a smart sell. I spent some time looking CNO over yesterday. To me it looked like a good long term play, which I was not interested in. They have been a big underperfomer since they recovered from BK. Motley Fool likes the stock. Very supprised they moved up .92 today. Nice play for you. I didn't see the move coming. Won't be the last time. I once owned Paypal shares, sold it quick and couldn't see it ever making it. Sold the stock and along came Ebay to buy it. Won't be the first time or the last. IMO buying right now one has to be careful. Biggest gains of the year this week. Next week could be the biggest loss of the year. Market is far from stable. I am 80% in cash and waiting.
That was a shame. Once they took a shareholder count on this board and it showed how much power could be had in numbers. A seat could have been possible.
Always was wondering why no one ever came up with the idea long ago. Also getting involved in the financing as a group. Course may be late now.
LOL sure Huff made him answer and he had to lie. Huff didn't want to say anything because if he told Mide the truth he could be accused of passing on inside information, he couldn't look Mide in the eye and lie. So I am willing to bet he thought for a little while and passed it on to Joe. Joe felt he wasn't going to get involved so just tell him what everyone else knows and what the CEO released in a PR. The company already had a list of shareholders questions weeks before to go over. Apparently that question wasn't on the list and came as a big surprise without a rehearsed answer.
Dumas is the one that really lied, yet Joe gets blamed for not leaking out insider information.
Longs will not listen to anything that doesn't come from the company. And what has this company ever done ----- lied
Khoury said he was going to bring this company from less talk to more action. Just looking at the situation I guess he did.
Here is something to make you laugh in Joe's defense:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=14119450
in reply to:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=14118514
On 9-6 I bought AHR at 8.56 and RAS on 9-11 at $8.09 Sold them both for a dollar more. Thought both would go down before the x dividend date. Have to wait a long while or say goodby to both of them before I buy again. Been trading sons for years now, what a piece of crap that stock is. Been around at the right time, best product in the market, continues accounting screw ups and missed goals. I swear this company will never get it together. It has been a faithful 4-7% profit for me. My next buy will be in the $5.30's range.
GLTU!
I could add my own perspective, regardless, you summed it up pretty good. Continued lack of information from the company keeps everyone guessing.
I wouldn't say that Nerd. Did you catch this part, where Joe claims Kostro had some money sent to Poland from the sale of stock?
http://www.joemonterosso.com/email-Nightowl-Vern-9-1-07.pdf
Most people who were betrayed, eventually speak the truth when they are pissed.
Nothing to lose anymore.
There isn't a person past or present who hasn't lied. Just look at the Dumas letter. I wish Joe would post something about that. Dumas claimed it took a year to understand what the company was trying to do. How can a shareholder understand when the COB couldn't.
Joe is the only source for the truth. He lied and cheated for this company and look how they treated him. Joe is the lesser of the evils.
Sirius, As far as your question: Did you miss Mide's question to Joe asking why Joe lied about Centerline profits to Mide at the SHM?
Obvious answer, Huff as CEO couldn't look Mide in the eye and lie to him so brushed off the question for Joe to cover for him.
Your next question: Also, Please confirm your "assumptions" with Raytheon and Elbit/Elisra or you are just blowing hot air.
Another obvious answer:
It was a teaming agreement with no money mentioned past, present or future. The only thing Raytheon ever did was put some equipment on the blimp exactly what Elbit/Elisra does. Arrangements like that are made by defense contractors everyday. Do you really think that if Sanswire really had something good one of these companies wouldn't step up to the plate and either purchase the division or offer monetary help.
How much more wrong can a company do for you to not be able to see the light.
Even Khoury left the sunken ship. Have you ever seen a company lawyer become CEO before? I am sure his strong points are business management.
Did you miss this from Joe, nice way to sell off shares and have the money go to Poland. If Europe was given $200,000 a month why did Germany go bankrupt?
http://www.joemonterosso.com/Kostro-funding-ltr.pdf
I think the SEC has the top 3 real scam artists right there within the company now. Khoury realized that and left the country when he had a chance.
CWID, SPAWAR, the U.S. Navy those are demonstrations paid for by Globetel, even Bleckman stated to you it went pretty, good. It is also debatable if Globetel is invited or Trimax which I won't go into because it has been discussed.
As far as Elbit/Elisra, and Raytheon it is easy to assume Sanswire who was using some of Raytheon's agreed upon equipment during the float tests and switched to an agreement with Elbit/Elisra and as Axel pointed out on this board the Raytheon lawyers are talking.
Read Joe M's former insider website carefully and with an open mind and I am sure you also will believe this company is a scam.