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I was scrolling through financial statements and it just caught my eye. I'm not sure.
OAA owns 1.6+ billion shares.
check out 10 year ending 2004 filed 10/02/07
2 down (10K's) 2 to go!!!!
10K #2 year ending 2004 out!!!!!
Not our Globalnet!
We have never had a Sergio Salgado as CEO.
Anyway, someone would have found that release over the last year with all the free time we've had to dig on this one.
Wish it was though!
I'm just saying that they are so far behind in reports that they could pick any 12 month period, label it an annual report and they wouldn't be wrong. It is logical to use a calendar period ending 12/31 when restating previously filed reports. I think fiscal may only come into play when they may be held to deadlines when they are timely in their filings. If fiscal ends 6/30 they have 45 days for quarterly reports and 90 days for annual reports, which would have put them at 9/28/07. Like I said they are so far behind it will not effect them or shareholders until they are current or attempt to be current and maintaining that status. I go by the SEC site in hopes that they were shooting to become current last month, thats why I sent Gil the email I posted earlier.
All and all I'm pleased to finally see them file something that has substance at least enough to build on. As I'm sure you would agree.
That just means that they have picked a 12 month period ending 12/31 2003 & 2004 to report on. It does not mean that that is the fiscal calendar. A 10K just has to be a 12 month period snap shot of the financial condition of a corporation.
SEC and Pinksheets correlate, I'll need to stick with it. 6/30.
In my post from earlier today Gil responds as saying the audit reports will be filed sequentially as they are completed. I too think we will see them very soon. I don't think he liked me referring to the IBS link either. He seemed to want to follow up on where that info came from. Hmmm?????
There has been debate, I just go by:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=glbt&filenum=&State=&SIC=&o...
http://pinksheets.com/pink/quote/quote.jsp?symbol=glbt
International, and IDNW may have had year end of 12/31. This may have caused some confusion.
9/28/07 was the close of the 90 day window to see something from end of fiscal 6/30/07. I thought we were done, put to pasture. Step by step things should begin to role.
Cali, Gils' response 9/21/07 to my questions. They just may attempt to make it back to OTCBB, I'm thinking through merger with EPCG. Lot of activity going on with them and now GLBT begins to file?????????
From: News Updates and Filings <investorrelations@sharell.com>
Date: Friday, September 21, 2007 10:45 AM
To: xxxxxxxx@cox.net
Subject: Re: GlobalNet Corporation - GLBT
Size: 11 KB
Dear xxxxx:
Thank you for your correspondence today.
GlobalNet is wholly focused on its IP based wholesale business, which accounts for its current revenue.
The Company has announced no projects with the Department of Defense since its restructuring more than 2-years ago. This may be dated or company unrelated information.
If you forward me a source for the information, I would be pleased to look into it further.
Also, the Company has no announced plans to merge with Epicus Communications Group. Neither public company has indicated any such future plans.
The outstanding periodic reports referenced in our communications are still being worked on by the Company's corporate counsel and auditors.
The reports are expected to be completed soon but no date has been provided. The filings of outstanding financial reports will likely be completed sequentially, in order of each report's completion. As such, there may be multiple submission dates over an unspecified period of time.
The completion of the above costly accounting work is highly contingent on the receipt of additional funding from GlobalNet's institutional investors, due to the current cash deficit created by operating losses.
For the Company's most recent Current Report on Form 8-K, please click here.
GlobalNet is committed to providing investors the highest level of shareholder service. If you have questions, please contact me, Monday -Friday between 9:00 AM - 5:30 PM EST, at 832-778-9591, ext. 222.
Sincerely,
GlobalNet Corporation
Gil Sharell, Investor Relations
Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in this communication are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
xxxxxxx@cox.net wrote:
Gil,
How has International Broadband Services (IBS), a subsidiary of Globalnet working with the Department of Defense, contributed to increasing revenues?
When is Globalnet merging with Epicus Communications?
When are the 10K's going to be filed? 9/28/07?
xxxxx
Shareholder
That was the first thing I thought as well. LOL!
Globalnet subsidiary? International Broadband Services (IBS).
Read Klaus Scholz resume for business development 2005.
http://www.klausscholz.com/Business_Development.html
Schaftlein owns 47% of
Epicus and their 10K is due at the end of August. FY ends May 31. 90 days to file puts them at the end of August. Surfs expecting by Sept 4 for GLBT 10K's and/or Q's. I still think their could be a link between the two. Will be interesting.
http://biz.yahoo.com/ic/108/108504.html
Just so I'm clear, this would mean that shorty must cover by 10/15/2007 correct?
Nathanial, thanks for posting. I can't wait to see what happens next.
http://www.researchandmarkets.com/reportinfo.asp?report_id=39723
It's good to see that they are linked to companies that are involved in the triple play market.
VTR Globalcom is one of Idials networks?
http://www.idialip.com/voicesolutions.php
On Idialip site click Voice Solutions then Web Phone or link posted below.
http://www.webphone.cl/
They seem to be doing very well. Wonder how we (GLBT) fit into this?
http://www.spss.com/success/pdf/VTR.pdf
http://point-topic.com/cgi-bin/showdocument.asp?Doc=operatorsource/profiles2/vtr-metropolis.htm
http://www.schange.com/News_events/Releases/2007/pr530.asp?a=580
This is excellent news!
Thanks for posting. I've been waiting to see an update on pinksheets for a long time.
It is published daily M - F by 6 a.m.
Federal Register: About
Published by the Office of the Federal Register, National Archives and Records Administration (NARA), the Federal Register is the official daily publication for rules, proposed rules, and notices of Federal agencies and organizations, as well as executive orders and other presidential documents. It is updated daily by 6 a.m. and is published Monday through Friday, except Federal holidays. GPO Access contains Federal Register volumes from 59 (1994) to the present.
Documents are available in Summary, PDF, ASCII text, or HTML format. HTML documents are available from 2000 forward and provide hypertext links to Web sites mentioned in the FR document. The active HTTP-link feature will be added to previous Federal Register databases in the near future. The HTML documents can be saved as text files with no loss or change in data.
The Unified Agenda, which appears twice a year in the printed version of the Federal Register, is maintained as a separate application on GPO Access.
http://www.gpoaccess.gov/fr/about.html
OK, It has been brought to my attention that we now have to wait until it appears in the Federal Register before the sixty days go into count down.
http://www.gpoaccess.gov/fr/index.html
Would all longs agree? If there is a different link please provide. What a racket this is. I guess it is a good sign that it at least appeared in the final ruling on the SEC web site. Now does anyone know of anything further that they would have to do beyond the publication in the federal register to get this into action?
Now maybe we will hear from the company. I forwarded the link of the final ruling to Gil.
SEC Final Ruling GFC
The elimination of Grandfather effective day is sixty days from today. OH YA!
http://www.sec.gov/rules/final/2007/34-56212.pdf
While they are at it they should negotiate long term funding.
If they are making us wait this long; when news is made available everything should be complete and ready to run, otherwise, lock it up and say goodnight.
If I'm interpreting this correctly wouldn't this mean that after filing the 10K's they are going to announce the name of the new CEO?
pulled this off a newer 8 k embedded in section 4k
k. Naming of New Chief Executive Officer. The Company shall publicly announce, within 3 business days of the Company becoming current with its 34 Act Reports, the name of the new Chief Executive Officer of the Company.
Maybe they are conducting interviews?
Whatever it is @#!$@# get it done!
Alright, bring on the NOVOCAINE! em.
Schaftlein's moving forward with his other companies.
EPCG - 8K on 7/16
PFEH - PRE 14A 7/10, DEF 14A 7/23
What about GLBT, Lets get on with it people!
Still no final ruling on Reg SHO Grandfather Clause.
This might take as long as GLBT's audit.
http://www.sec.gov/rules/final.shtml
Cali, in addition they were smart not to go after the North American market and stick to countries that make more International calls.
http://www.redherring.com/Article.aspx?a=22819&hed=U.S.+Lags+Europe+in+VoIP§or=Industries&a...
Nathanial, Don't they have 90 days to file a 10K after end of FY and 45 days to file after quarters end? This would put us into September for an up to date 10K. I would welcome the 2003,2004,2005 10K's in preparation for getting back on track with current filings in September. Gil has already mentioned that they file extensions for their taxes on an annual basis so it would be nice to have everything take affect concurrently (Taxes, 10K's, 10Q's, Grandfather short covering) and add some news to the mix. Although, I'm still waiting for the Grandfather final ruling to appear on the SEC Web Site, this could be a recipe for the "PERFECT STORM" depending on what the final rulings effect date will be, IMO!
IMO! Globalnet is showing us that it has positioned itself perfectly by going wholesale. The successful companies in Voip are going to be the ones that bundle services. Globalnet's market is ISP's, Cable CO's, International Telecoms. Like Cali has mentioned in the past, keep your eyes open for IPTV, if they were able to add an additional product line such as IPTV to their offering at wholesale, it would assist in making clients competitive. The U.S. statistically makes fewer international calls than other countries so it makes sense not to target the market. However, if Globalnet introduces IPTV to their lineup one day the U.S. would be all over it. By this time the stand alone Voip plays would be long gone or acquired by other providers to bundle services.
Two page article:
http://www.fiercevoip.com/story/sunrocket-demise-casts-doubt-business-model/2007-07-23
So, with SunRockets demise and Vonage's verge of bankruptcy makes Globalnet's decision to 86 retail voip pretty insightful. Not to mention they chose not to make attempts to market and compete in North America where competition is tight and consumer adoption of the technology has been slower than that of European and South American countries. What ever they are doing I'll wait it out and see. IMO!
http://www.redherring.com/Article.aspx?a=22914&hed=VoIP+Firms+Mull+SunRocket%E2%80%99s+End§....
This is a statement of the proposed rules published Mar 30, 2007.
Filing the final ruling may take as long as this audit. Ah Sh*t!
If there has not yet been a final ruling filed with the federal register than the 60 days have yet to begin, correct?
This is all I have been able to find. I don't believe this constitutes an official filing for the Grandfather provision being eliminated.
Search for "Grandfather" in the PDF, there is not much there.
http://www.sec.gov/rules/final/2007/34-55970.pdf
Have the amendments for Reg SHO Grandfather clause been filed with the federal register documenting that they are now in effect?
Your right the 8K's are clear. They have sought and received and will continue to seek to receive on a monthly basis until the completion of audit efforts.
Not trying to sell, just waiting. Yes I know can't sell right now even if I wanted.
Again I ask,
Meanmike, has Globalnet received funding every month for the past two years? If not longer. If yes, can you provide verifiable evidence that the funding is not allocated toward audit efforts? I myself can quote the 8K again for you, "The Company is also in discussions with the investors regarding continued funding of the audit and restatement process."
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D07....
Hey Cali! Things are gettin busy but that's the objective. Maybe next year this time I too can travel and have it be vacationing rather than work related.
I'm looking forward to developments on this. Their end of fiscal just passed on the 30th of June, the Grandfather clause somethings gotta give.