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Low, Thanks again!!!
Just found out about TNXI from my accountant. Looks very interesting. I will be follwing this one for some time.
Low,
What do you think of TNXI?
PS: I love the pictures!!! Have fun!
Thanks
Lowtrade,
Thank you posting the MOBL.OB chart.
Lowtrade,
Any thoughts on MOBL.OB? looks like things are moving.
Thanks
If you notice in all the Fool's articles that when they name other companies like (VZ), (MOT),(NOK)his story is also on their "News" releases and yet really have nothing to do with the story other than a mention. I believe he mentions these other companies to pile on the amount of exposure they can get. Check all those company news releases and you will find seth's article. If the press does't have to be governed by the SEC because technically they don't influence a market, then why are they allowed to post articles where company news releases are posted?
The timing of the article tells me that there is probably news out soon.
If you notice in all the Fool's articles that when they name other companies like (VZ), (MOT),(NOK)his story is also on their "News" releases and yet really have nothing to do with the story other than a mention. I believe he mentions these other companies to pile on the amount of exposure they can get. Check all those company news releases and you will find seth's article. If the press does't have to be governed by the SEC because technically they don't influence a market, then why are they allowed to post articles where company news releases are posted?
The timing of the article tells me that there is probably news out soon.
SAMdashada,
That was probably the most accurate post EVER. The next quarterly should/must reflect what Huf has said he would acclomplish by 6-31-06 or he should step down the day after they post. Huff has taken GTE down hudreds of millions in market shsre in a year. While at the same time he has had GOLDEN opportunities to build up Hundreds of Millions. Three words, ego, ego, ego, and no delivery. I am down significantly over the last year, but I still have faith in the company--not the CEO. We need a new well known CEO, or a partner.
ihubposter
How many times have I asked myself that question. If you look at last year when they promised a "Floating Strat" and instead presented a stripped down 1/4 built erector set. If the strat was floating the share price wou;d have gone from .30 to .60. Instead it went to .19. Huffs first big mistake. This and every deadline after has not been met. I have to say when I look at the AMEX saying the PR's are way over stated and in order to protect investors from this kind of BS GTE needs to be delisted, I think they are talking about protecting me! I have not sold my shares yet, and don't intend to. Huff needs to get his head out of his colon and stick to a deadline. What about his commitment to June 30th. you don't commit to a date and leave people hanging! Did he achieve his goal or not! He needs to respond to this ASAP!
I have been a share holder for 8 long years. In the last year can anyone tell me a deadline Huff has met? Just one. Anyone will do!!! At this point I have NO faith in Huff as a CEO. As a CTO yes but not a CEO.
This would be a no brainer for GTE
Citywide Internet access plan pushed
May 30, 2006
FROM STNG WIRE REPORTS
Mayor Richard M. Daley on Tuesday announced a plan to provide affordable broadband Internet access to all Chicagoans and to make computers more widely available to low-income residents.
The city is issuing a request for proposals for private-sector partners to provide Internet access throughout the city, including free wireless service in schools, parks and major public gathering places, according to a release from the Mayor’s office.
Daley also offered $250,000 in grants to help community groups come up with innovative ways to help close the digital divide, and appointed an advisory panel to make further recommendations on the matter, the release said.
“In the 21st century economy, everyone needs to have access to computer technology to succeed in life,” Daley said at a news conference at the Al Raby School on West Fulton. “Computer literacy is a fundamental skill in the modern world.”
The mayor said according to one estimate, though Internet use is on the rise among most Americans, 80 percent of households with incomes below $50,000 per year remain unconnected. “In technology, as in too many other areas of society, there’s a wide gap between the haves and the have-nots,” Daley said. “It’s known as the digital divide -- and the people on the wrong side generally have lower incomes and less education.”
Under Daley’s plan, the city will partner with a private firm or consortium to develop and deploy a high-speed, wireless network, the release said. The city could offer long-term use of its infrastructure, such as street lights and lamp poles, and if necessary, broker agreements with sister agencies and local utilities, the release said.
The private partner, according to the release, would provide:
Affordable, universal Internet access reaching every neighborhood;
Free hot spots in every Chicago Public School;
Free access in parks and other public places, such as museum campuses,
the lakefront and other neighborhood destinations;
Affordable computers and meaningful applications to low-income Chicagoans.
I agree, but which was dumber this or the strat viewing last year?
Pitbull74,
For Dumas to make the committments he has made, tells me that we are meeting those numbers NOW with centerline or the contracts are singned and buildout is complete. Dumas is not as wreckless as Huff when it comes to promises kept. Again, I have all the faith in the world in Tim as a Technology genius but not as a CEO. That's why I say Dumas and Huff make a great team. With these two guys working together we have balance.
The fact that they had to modify the dates in the PR tells me they rushed it out. I mean come on, these guys are supposed to be top lawyers.
Cookie01810,
It's not the amount of PR's, It's living up to them. I am as long as one can get in this stock. I think my first buy was 1998(ADGI). If the strat would have been inflated last May we would have gone from .30 to .50 overnight , but instead we went back to .20. I just want Huff to say what he means, and mean what he says. People are taking advantage of Huffs lack of CEO experience(shorts, Seth ect...), However, I think the technologies will counter that and move us ahead. I have complete faith in his "technical" abilities. I also think Dumas will offer balance. Remember the commitment Dumas made for the end of June? I think he made that comment based on the fact that that's what we are currently generating. This is only my opinion, but my gut agrees with me.
People are tired of waiting for Huff to put out something, anything on Russia. I think this is an attempt by some people with large investments that can't get any info. People want answers. If they were to get out of GTE now, they would take a bath. This forces Huff to move quicker and reveal some long awaited info on the Russia deal. If someone wanted to sue on fraud, just go back to the demo last May when we were told the strat would be floating, but what everyone saw was an old chevy on milk crates. Now that kind of fraud cost me over 100k in one day. I am still long for now!
PiT--The guy IN THE KNOW. What are great sources saying now? Lol
PiT--The guy IN THE KNOW. What are great sources saying now? Lol
It's up to Huff to prove him wrong and he hasn't yet!
mide,
You are right on with your questioning! Keep it up because you keep honest!
Thanks
Low
I too was wondering about the non-event of the 50/200. The only one to blame here is the company. Same situation in the public viewing of the Chop Shop version of the strat. in April/May of 05. It's going to take alot to rebuild trust and credibilty going forward. Still I hold and wait since the late 90's.
Mide,
It means I am a terrible typist. Lol He said you had great insight and would "Hire you on the basis of this post alone".
Looking for work? Lol
He was truly impressed
Mide
Ran your observations past someone in the business who keeps a very close eye on GTE. He said your insight was right on. the things he disagreed with was the tax rules. He said they have changed a bit. He also said that he would hire solely based on you post.
ps: He said from what he sees the MM count is closer to 7.
Transat 5
You nailed it! Stratelite compatible and "Big Brother capabilities!
This has been far too orderly to be panick or reversal.
the block sizes have been large yet orderly. This will end and then up we go.
design & Doc,
I thought that also. I use yahoo and they showed $3.90 but the time showed a 10:30 a.m. trade. I think that is because they are directly connected to one MM source. I think it is INET. So to me it appeared to be AH but might not have been.
TCR7309,
yeni is starting to sound like OGCJU. He is a fool on other boards.
OGCJ,
What happened you said news on Monday?
yeni,
Welcome. You say news tomorow. What kind of news?
pitbull74,
I will be at the game tomorrow. Tailgating in the parking lot beginning around 3pm.
I had to grab another 15K @ $1.91 I couldn't hold back anymore!!!
rocky301,
This begs the questions: Where is the Military prototype being built? Who are they partnered with?
I just can't believe they are building all three craft at Palmdale. Please correct me if I am wrong, but wasn't S1 supposed to be moved to Edwards, and the next thing we know S2 is being built at Palmdale? I think S1 was moved to Edwards and thats when the DoD people got involved.
Thanks rock.
Does this sound familiar?
"the Access 5 Project will begin its first technology flight tests later this month, operating an optionally piloted aircraft within restricted airspace in the vicinity of Edwards Air Force Base in California"
http://www.access5.aero/site_content/news/html/05sep13_a5_flighttests.html
are they putting a pilot in the strat for testing(optionally piloted)! The Strat is at Palmdale next door to Edwards(vicinity of Edwards)! Taboada is getting himself positioned to sell some shares! (thanks cam 66)
Form 144 filers
MANDALAY INDUSTRIES ... 09/01/2005 22,462
FIRST CLEARING CORP
PCM INDUSTRIES INC 09/01/2005 40,000
FIRST CLEARING CORP
TABOADA, PAUL C/F MO... 09/01/2005 90,000
FIRST CLEARING CORP
TABOADA, PAUL E. 09/01/2005 90,000
FIRST CLEARING CORP
TABOADA, PAUL E. 09/01/2005 133,334
FIRST CLEARING CORP
lowtrade,
It seems that in the last 2 weeks there were many calls using T/A that didn't pan out. Are the MM's disguising there trades somehow to throw all the T/A guys off ? Do you get a sense that this is happening? You would know better than me.
fashionman,
Aroon 5 has the double diamond with the red top on the second diamond. Is this the sign for a spike down, possibly followed by an up trend?
rocky301,
Thank You for all your efforts putting this board together.
I lurk here daily!
Form 10QSB for GLOBETEL COMMUNICATIONS CORP
--------------------------------------------------------------------------------
16-May-2005
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
General
Three months ended March 31, 2005, ("2005" or "the current period") compared to the three months ended March 31, 2004, ("2004" or "the prior period").
Results of Operations
Revenues. During the current period, our gross sales were $18,010,643, representing an increase of 461.1% over the prior period when our gross sales were $3,210,333. Our revenues increased primarily due to revenues from our subsidiary, Centerline and its subsidiaries, which recorded consolidated revenues of $13,399,726 (or 76.1% of total revenues), consisting primarily of wholesale traffic revenues (telecommunications minutes) and related network management fees. The remainder of our revenues continued to be predominantly from telecommunications minutes going through our Philippines and Brazil networks.
Philippines network generated $3,491,970 (or 20.2% of gross revenues) and our Brazil network generated $101,368 (or less than 1% of gross revenues). Other domestic and international wholesale traffic revenues were $14,417,305 (or 79.0% of gross revenues), including revenues $2,988,375 (or 16.6% of gross revenues) from Mexico (unrelated to our Mexico network). Our Mexico network generated no revenues.
Additional revenues generated included $700,000 from a network built for an international client (netting in $35,000 of gross profit, after costs of $665,000). Revenues from our Magic Money program were $39,585 and $2,976 from the sale of IP Phones. There were no sales from these programs in the prior year.
Cost of Sales. Our cost of sales consists primarily of the wholesale cost of buying bandwidth purchased by us for resale, collocations costs, technical services, wages, equipment leases, and the costs of telecommunications equipment. We had cost of sales of $17,283,963 for the current year, compared to $3,164,741 for the prior period. We expect cost of sales to increase in future periods to the extent that our sales volume increases.
Gross Margin (Loss). Our gross margin was $726,680 or 4.0% for the current period, compared to $45,592 or 1.4% of total revenues in the prior period, an increase of $681,088 or 767.9%. The increase is primarily due to the fact that there was lower margin on resale of wholesale minutes related to the increased cost of the minutes to terminate, especially the Mexico network, where our margin was less than two percent, and initial activities of Centerline, where our gross margin was minimal or zero in the prior period. We expect to derive higher margins once we formally take over the operations of our customer's Mexico network as described in Part II, Item 1 "Legal Proceedings," and commence sales directly to the retail market.
Operating Expenses. Our operating expenses consist primarily of payroll and related taxes, professional and consulting services, expenses for executive and administrative personnel and insurance, bad debts, investment banking and financing fees, investor and public relations, research and development, sales commissions telephone and communications, facilities expenses, travel and related expenses, and other general corporate expenses. Our operating expenses for the current period were $4,299,018 compared to prior period operating expenses of $1,341,459, an increase of $2,957,559 or 220%. The increase is primarily due to the following.
Consulting and professional fees increased to $1,238,458 (including non-cash compensation of $716,400), from $194,405 in the prior period. Investment banking and financing fees increased to $439,715 in the current period, related to obtaining funding of approximately $4.8 million, compared to none in the prior period
In addition, employee payroll and related taxes for the current period were $570,501 compared to $72,288, an increase of $494,303 or 637.9%. This increase was due to expansion of our operations, facilities and workforce, related to additional services required to develop and expand our geographical and product markets and projects, including our Stored Value Program, our Sanswire Project, and international markets, primarily in Asia and Australia, as well as increased professional fees in maintaining and expanding a public company.
We incurred $443,924 of research and development costs for our Sanswire project
- development of the Stratellite during the current period, compared to none in the prior year, whereas the Sanswire assets were acquired in April 2004.
We incurred $724,513 of sales commissions for our Centerline operations during the current period, compared to none in the prior year, whereas the Centerline operations began in after the prior period in 2004.
Income (Loss) from Operations. We had an operating loss of ($3,572,338) for the current period as compared to an operating loss of ($1,295,867) for the prior period, primarily due to increased operating expenses as described above, including the expansion of our various programs. We expect that we will continue to have higher operating costs as we increase our staffing and continue expanding operations, programs, projects and operating costs related to our newly acquired subsidiaries.
Other Income (Expense). We had net other expenses totaling $27,715 during the current period compared to $2,700 in the prior period.
Net Income (Loss). We had a net loss of ($3,600,053) in the current period compared to a net loss of ($1,298,567) in the prior period. The net loss is primarily attributable to the increase in the operating expenses as discussed above.
Liquidity and Capital Resources
Assets. At March 31, 2005, we had total assets of $15,124,388 compared to total assets of $4,292,220 as of March 31, 2004.
The current assets at March 31, 2005, were $6,390,994, compared to $3,877,848 at March 31, 2004. As of March 31, 2005, we had $3,604,441 of cash and cash equivalents compared to $333,917 as of March 31, 2004. The increase in cash and cash equivalents is primarily related to private placement funding during the current period.
Our net accounts receivable were $2,575,932 as of March 31, 2005, compared to $3,039,427 at the same point in 2004. Approximately 94% of the March 31, 2005, receivables were attributable to four customers, including 27% or $695,087 (net of allowance) related to the Mexico network, 19% or $485,800 (net of allowance) related to the Brazil network and 48% or $1,232,310 related to the Philippines network. We have increased our allowance for doubtful accounts by $94,095 for the year.
Other current assets included $49,307 in prepaid expense, primarily prepaid minutes with carriers, compared to $245,300 in 2004; $60,976 inventory of IP Phones, compared to none in the prior year; and deposits on equipment purchases and other current assets of $88,994 compared to none in 2004.
We had other assets totaling $3,181,363 as of March 31, 2005, compared to $27,057 as of March 31, 2004. The increase was attributable primarily to the acquisition of the Sanswire intangible assets valued at $2,778,000 and investment in CGI, our unconsolidated foreign subsidiary, totaling $352,300 as of March 31, 2005. Neither of these two items existed as of March 31, 2004.
Liabilities. At March 31, 2005, we had total liabilities of $2,765,146 compared to total liabilities of $1,423,180 as of March 31, 2004.
The current liabilities at March 31, 2005 were $2,761,176 compared to $1,423,180 at March 31, 2004, an increase of $1,337,996. The increase is principally due to $1,163,786 due to CGI, our unconsolidated foreign subsidiary, contractual obligations netting $481,363 due to CSI, and $300,000 in sign-on bonuses payable to Sanswire employees with GlobeTel stock. There were no significant long-term liabilities as of March 31, 2005 and 2004.
Cash Flows. Our cash used in operating activities was ($2,525,356) for the current period, compared to ($1,137,403) for the prior period. The increase was primarily due to the increased level of operations and operating activities and changes in our current assets and liabilities.
Our cash used in investing activities, including acquisitions of property and equipment totaling ($5,151,177), relating primarily to our expanding telecommunication program, compared to ($3,792) in the prior year.
Net cash provided by financing activities was $10,679,415, principally from proceeds from the sale of preferred stock of $5,085,200 for the current period, compared to $1,132,060 in the prior period; proceeds totaling $1,800,000 (before related costs) for convertible notes payable; $2,631,120 from sales of common stock, relating to the exercise of warrants by convertible note holders; and proceeds of $1,163,786 (net of repayments) from the loan payable to CGI.
In order for us to pay our operating expenses during 2005, including certain operating expenses of our wholly-owned subsidiaries, Sanswire and Centerline, and the overall expansion of our operations, we raised approximately $10.7 million during the current period. An additional, private placement funding approximately $3.5 million is expected to be received during the second quarter of 2005.
As detailed in the financial statements, we have stock subscriptions receivable for preferred shares that will raise a total of approximately $7 million in cash in 2005, primarily in the form of financing provided by Series B preferred shareholders. Of these funds, $5 million is committed to the purchases of equipment (two data switches) for our stored value program. With this funding, as well as the additional funding received to-date in 2005, we will have the existing capital resources necessary to fund our operations and capital requirements as presently planned over the next twelve months. However, if we do not receive the full amount, then we may not have the existing capital resources or credit lines available that are sufficient to fund our operations and capital requirements and therefore we may have to pursue additional funds through the issuance of debt and/or equity instruments.
Furthermore, the capital markets have responded favorably to our growth and business strategies through to-date in 2005, particularly as a result of our Stratellite project, and increased investment is anticipated in the near term.
As reflected in the accompanying financial statements, during the period ended March 31, 2005, we had a net loss of ($3,600,053) compared to a net loss of ($1,298,567) during the prior period. Consequently, there is an accumulated deficit of ($43,261,089) at March 31, 2005, compared to ($27,792,733) at March 31, 2004.
This Form 10-Q and other statements issued or made from time to time by GlobeTel contain statements which may constitute "Forward-Looking Statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934 by the Private Securities Litigation Reform Act of 1995, 15 U.S.C.A. Sections 77Z-2 and 78U-5 (SUPP. 1996). Those statements include statements regarding our intent, belief or current expectations, our officers and directors and the officers and directors of our subsidiaries as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results and the timing of certain events may differ materially from those contemplated by such forward-looking statements.
Forward-looking statements include, but are not limited to, statements about our plans, objectives, expectations, intentions and assumptions and other statements that are not historical facts. Words like "expect", "anticipate", "intend", "plan", "believe", "seek", "estimate" and similar expressions identify forward-looking statements.
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