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Mide, what became of the valuable VOZBrazil assets?
TIA
Jetmek....we may soon find out that NMC was in fact the Internafta of 2007. Stick around,,,the fun has yet to begin.
"AXTEL becomes the first telecommunications company to introduce the new WiMAX technology in Mexico"
Well, what they mean by first company....first company with a real company manufacturing the infrastructure. I happen to know that Motorola has more than 7 employees, pays their bills, has an active BOD and are you ready for this....trades for more than a dime.
Certainly not the paradigm shift we all witnessed in Stuttgart. Do you realize that they actually flew that thing around by remote control? Gosh....and to think it was almost 39 years ago we first walked on the moon...I gotta say...we've come along way baby!!! To da moon!!! I mean Jupiter!!!!
One can conclude that Due Diligence plays no part in pennyland.
Cole, if they're not bothered by Leinwand's past....why should they care about a SEC investigation?
IMHO, the proper context to review the 10-K narrative is this:
A seven person Nano company domiciled in South Florida where the two head honchos have a dismal track record of enhancing shareholder value in prior ventures. Moreover, the current CEO's past track record hints to "potential nefarious" dealings. Meanwhile, the company has by its own admission "no defined source of funding".
The other facts which are unrefuttable: Numerous default judgments, a Wells Notice, too many lawsuits to mention, pink sheet status and to this date...no definable source of revenue from any existing or prior business ventures.
One might ask the question: Why does Globetel continue to exist? To keep the shell company status alive (for future paradigm shifting opportunites)? To allow insiders to unload their holdings when financials are current?
Only Shimmi and Jonny-L know and they're not talking. Hopefully the SEC will get to the bottom of what appears to be just another South Florida SCAM company.
All the above is JMHO and conjecture.
It twas you Mide who indicated that GTEM.PK had secured their assets of note....perhaps it is time for someone else to securitize these assets? Problem is....they have no assets - lots of liabilities. And in the world of high finance - PRs don't count as assets. It won't be long now mi amigo.
BOL
Mide, do they plan on paying any of their bills?
TIA
In darkness you will see the SCAM
Yes but that didn't stop new management from:
Form 8-K for GLOBETEL COMMUNICATIONS CORP
10-Sep-2007
Entry into a Material Definitive Agreement, Unregistered Sale of Equ
Item 1.01 Entry into Material Definitive Agreement
Concurrent with the resignation of Peter A. Khoury as GlobeTel Communication Corp.'s (the Company) Chief Executive Officer as set forth in Item 5.02(b), below, the Company entered into a "Mutual Release and Separation Agreement" with Mr. Khoury.
The Agreement calls for the payment of Mr. Khoury's outstanding expenses, accrued unpaid salary in the amount of $83,333, and severance in the amount of $125,000. These cash amounts will be paid out over the course of 12 months. However, should the Company raise funds through a financing, Khoury would receive a lump sum payment 10% of the first financing and 15% of any subsequent financing as payment towards the amounts owed.
The agreement also calls for the issuance of 1,333,333 options to purchase GlobeTel Common stock at $.36 per share representing a pro-rata amount of options due under his employment agreement; 500,000 options to purchase common stock at $.26 per share also due under his employment agreement; and 801,045 shares of common stock for accrued stock compensation. He will forfeit 657,894 options with an exercise price of $.19 that were issued in May 2007 and retain 657,895 options then granted.
The Agreement provides for a mutual release between Khoury and the Company and reiterates the Company's indemnification obligations pursuant to the Company's by-laws.
Oh well...Just Frank only allows me to grace IHUB with 3 posts per day. I've extinguished that daily privilege and will now bone-up on Polish Stock Investing.
Have a nice day everyone!!!
You're right Frank...let us stick to the facts...such as Johnny L's & Shimmi's respective track records in rewarding shareholders...but hey...you told me you were a speculator in regards to GTEM.PK - ain't no speculating regarding these two titans of industry.
BOL
Hey Mide, speaking of money - let's assume GTEM.PK obtains some coin....will they pay off the default judgments already in place? Will they pay Peter Khoury severance? Will they pay the Magnificient 7 some much deserved incentive / retention bonuses??? Will they purchase their TAO interest? Will they create a special "Free Leinwand" defense fund???
Just what will they do with some doe rae mi???
Ah yes the Mexico Deal...Fiesta gone muuy malo....well you see it's like this - since we're limited partners on the IP service provider side of the deal we're due limited information...thus we can't report what we don't know....but ironically we're the hardware supplier via the state of the art 2005 Hotzone 4000 which would mean to shareholders of GTEM.PK that we have a very easy way to measure market penetration via Hotzone sales.....but alas NADA...of course if you analyzed GTEM.PK from a Benjamin Graham point of view...you would have greater concerns such as the track record of companies that Jonny-L and Kostro have been previously involved with.....but hey...who needs Pachuca when you got the unverifiable T E A M I N G agreement?
BOL
"complimentary words the military had for the hotzone technology"
Glow...other than the 83 hotzone units sold to NMC.... why can't GTEM.PK receive any orders for this "already exisiting - already tested- battle ready paradigm shifting - wave of the future technology???
Seems like no one is really that excited about this several year old technology.
TIA
Question for Nerd:
Nerd, you mentioned to me that you liquidated your GTEM.PK position due to (no current financials). I certainly have no quarrel with your decision but why did you wait so long? Six months ago I told you to close out @.24 and their filing status was no different. Why is this such a big deal now??? We all know the paradigm shift is just around the bend.
TIA
"Without financials they will never be able to raise a dime"
Kind of ironic isn't Nerd....once the financials do become current (and pathetic)....they'll resort to their old ways....issuing more shares....and raising a dime....yet the dime they raise won't be a dime to the current shareholders...but at least Johnny-L and Kostro can get back some of their hard earned money!!! And boy do they deserve it....it isn't easy maintaining such a lofty share price when the world thinks you're out to screw the investment public.
JMHO
Crash....nice find....but that's a professional video....our video budget...well, let's just say, it's a bit constrained.
Just got off the phone with someone named Rob....
It seems there's been a mix-up. Due to the highly sensitive nature of these trial flights - management as well as several unmentioned "world powers" were concerned about central bank de-stabilaztion...that's right..the influx of funds to the US Pink Sheet market....could in one trading day....wreck havoc on world markets. That being said, this fella named Rob....has clarified the Panasonic / Blimp conumdrum. I hope everyone is sitting down.
There are two blimps.
One has the video camera...the other the Panasonic.
ps....I suggest "longs" update themselves regarding the status of on-going litigation. This includes you too Mide.
BOL
Mide...still waiting patiently for two answers:
1) How many Hotzone Units have been shipped to Mexico since the batch of "83"???? Hint, this isn't a NMC querry
2) The names of any companies Leinwand, Kostro and the much esteemed faculty member of Stuttgart U have had any involvement where investors are better off today than before these Titans of Industry jumped on board.
TIA
Mide...I'm growing a bit more apprehensive about our pup:
Let's review shall we:
Recently you pumped this stock whereupon days later the company was served up a Wells Notice.
NMC (what was to be the savior of GTEM.PK) is now a distant stepchild...I know...limited partners are due limited infomation...none the less we can measure the roll out another way....Hotzone Shipments....and yet nada!!!
Now we have SAS-51 starting to reek like the rotten tomato it has always been. And yes, we have pictures of the spoiled fruit!!!
What's a serious investor to do????
TIA
"why would Rob through Dan through Mide have claimed"
Gosh....let me see....it certainly isn't a question of Nano Company Veracity.....it's certainly not a question of GTEM.PK being caught with their skirt up...again....It's certainly not a move out of corporate desparation....wait I know....
It's those damn Russians...the sameones who pulled that WIFI Hoax...
OK, I feel better now....for just a second there I thought we were talking about business as usual for a South Florida Scam Company.
Mide...how many Hotzone units have been shipped to Mexico since the initial 83 units? And, do you know who's manufacturing them?
TIA
Glow...much like everything else GTEM.PK "a picture's worth a thousand words"!
BOL good buddy
"large sums of money"...Risk...I'm sure they'll accept an I.O.U. backed by the full strength of a S.Florida T E A M I N G Agreement.
Of course Rhaps you could look at it another way:
http://finance.yahoo.com/q/bc?t=5y&s=LMT&l=on&z=m&q=l&c=gtem.pk
BOL
Cole...scratching my domed shaped orb, that thing you call a (head) trying to figure out what GTEM.PK brings to the table?
1) Now marketing "Der Hindenburg" made by someone else. Someone so desperate they plan to give up "the goods" to a de-listed, under SEC investigation, default judgment ridden - Seven person Nano company from South Florida.
2) Marketing an outdated "Hotzone model" which ...well we don't know who the hell builds.
3) Participating as a junior partner in a Mexican Fiesta gone muuy malo. But since limited partners are due limited information...we're not permitted to even whisper just how bad things are going.
4) T E A M I N G Agreements o'plenty (which can't be substantiated by anyone other than the IR guy) but lacking the infrastructure to build upon....
Geeez...this company is much better off than I ever imagined.
Mide, since you got into the "minds" of the Peraltas family before:
"Despite all the slice and dice on the Uli contract announced today by others, this was, psychologically for me, a KEY up piece of the puzzle, at least regarding the Hotzone division. As an aside, at $500K a year as a consultant, I can only wonder what he got paid as an employee. Bringing him back in the fold was ‘brilliant’ by the K-boys strategically. I have to believe the Peraltas are thrilled as well. They nailed down a sound OEM for our “wholly-owned” Hotzone technology, off-loaded that in-house burden and all those associated personnel and Naples associated costs, and struck a going forward incentive deal with him to get off the dime, hire his own sales force and hump for new Hotzone contracts! Parallel that next to the ‘reorganization’ announcement of GTE Europe and I read this as Germany is not dead, but squarely back in the hands of Uli to get the “right crew” on the hunt to get ‘er done. And he now has an incentive to do it. Win-win."
Could you please give an update on their current mindset? When can shareholders expect GTEM.PK's interest in the J.V. to start yielding cash flow???
TIA
Cole...do the words "Magic Money" mean anything to you???
TIA
Does anyone know if the TAO purchase is being funded through the SANSWIRE Umbrella??? Assuming it is, I would suspect that the entities that have default judgments in place against SANSWIRE (e.g. City of L.A.) might have a small problem with funds being put to this paradigm shifting use. Thoughts???
TIA
"IS THERE LIGHT AT THE END OF THE TUNNEL?????????"
Contrary to IHUB hype...no light that can be substantiated beyond Company PRs.
The facts (which are voluminous spell doom).
Again....I think every investor should stop and ask one very simple question:
Name a company (just one) that Leinwand, Kostro and the much TAOed (touted) ....Dr. Bernard Kroplin have been involved with where the investors are better off today than before they made their Leinwand, Kostro, Kroplin based investment.
This sure gives all the appearances of just another South Florida Scam Company but hey I care about things like financial statements, cash flows, legal & listing status....
JMHO & BOL
Please provide any supporting information (other than GTEM.PK's PR) as to a T E A M I N G Agreement.
Also, which one of the SEVEN employees @ GTEM.PK oversees the T E A M I N G Agreement?
For that matter...which employee oversees:
No MAS (Is this person able to respond to any technical problem that might arise)???
VOIP?
STRAT? (Who's filling the voluminous shoes of Doug Murch)?
Are the debt holders going to fund the default judgments? Are the debt holders going to approve the twelve month installment severance to Khoury?
How does GTEM.PK pay their mounting legal bills? What about the next installment on their Insurance premium? What about payroll & rent? How are they going to finance the vaunted TAO acquisition? How will they pay for the audits???
Perhaps if GTEM.PK could answer these fundamental questions then the Motley Fools of the world wouldn't warn investors about South Florida Scam Companies.
Perhaps Yahoo performed some DD and found the T E A M I N G Agreement to be overly promotional since no-one can seem to produce any evidence of a T E A M I N G Agreement?
Mig - are you aware of any progress regarding Khoury's severance as posted in the 9.10.07 8-K:
10-Sep-2007
Entry into a Material Definitive Agreement, Unregistered Sale of Equ
Item 1.01 Entry into Material Definitive Agreement
Concurrent with the resignation of Peter A. Khoury as GlobeTel Communication Corp.'s (the Company) Chief Executive Officer as set forth in Item 5.02(b), below, the Company entered into a "Mutual Release and Separation Agreement" with Mr. Khoury.
The Agreement calls for the payment of Mr. Khoury's outstanding expenses, accrued unpaid salary in the amount of $83,333, and severance in the amount of $125,000. These cash amounts will be paid out over the course of 12 months. However, should the Company raise funds through a financing, Khoury would receive a lump sum payment 10% of the first financing and 15% of any subsequent financing as payment towards the amounts owed.
The agreement also calls for the issuance of 1,333,333 options to purchase GlobeTel Common stock at $.36 per share representing a pro-rata amount of options due under his employment agreement; 500,000 options to purchase common stock at $.26 per share also due under his employment agreement; and 801,045 shares of common stock for accrued stock compensation. He will forfeit 657,894 options with an exercise price of $.19 that were issued in May 2007 and retain 657,895 options then granted.
The Agreement provides for a mutual release between Khoury and the Company and reiterates the Company's indemnification obligations pursuant to the Company's by-laws.
Will Khoury subordinate to the outstanding default judgments already in place???
Don't forget to read the lawsuit Siegel has filed against GTEM.PK...ya know...where he's the plaintiff and GTEM is in the business as usual "Defendent" position.
Does anyone have an update on who the third party manufacturer is for the Hotzone 4000 series? With the re-organized NMC deal...I should think they're flying off the shelves....anyone know???
TIA
So Mide...is history going to repeat itself?
Huff's demise might have been overcome had he a more independent board providing greater oversight...asking tougher questions...and following up on poor results....
Now we have no independent directors...and only you to keep an eye on Johnny-L.
Sounds like a recipe for disaster.
JMHO
"why you dont ask, mention, or care about the filing against Joe"
For exactly that reason...it's a filing...City of L.A. / Wells Fargo have already been played out in our judicial system...and in both cases GTEM.PK lost - judgement awarded to the Plaintiff.
This means that both the City of L.A. & Wells Fargo have a court ordered right to past due monies owned them.
If we're going to speculate about the case against Joe...we should also speculate about Wachovia, Mitch Siegel, KinzBrunner Rodriguez, Floyd Bradley, Uli / Trimax, too name but a few...
In fact...perhaps I shouldn't be inquiring as to how GTEM.PK is going to pay off the judgments already in place....how are they going to pay all their mounting legal bills? And if Leinwand decides to represent GTEM.PK...then you certainly have a fool for a client.
BOL
If you take your investing seriously - you have to wonder.
Modlam made a definitve statement which requires definitive information. Yet no one on this board has an answer to the following questions:
How will GTEM.PK finance the Tao acquisition?
When will GTEM.PK pay off the default judgments - City of L.A. & Wells Fargo?
Will Khoury receive all of his severance???
I'm sure some one has the answers to these legitimate and timely questions due to large sums of money (relative to GTEM.PK's questionable financial status).
BOL
Crashtest...what do you feel is a better use of corporate funds:
Paying off the City of L.A. & Wells Fargo or paying Khoury's well deserved severance???
And of course...where will any or all of these funds come from???
TIA
Please explain to me how GTEM.PK will finance the Tao Acquisition.
TIA