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Anyone?
Have you seen this information? Read this book?
I know Hirschfeld has been discussed in the past. I'm wondering who might still be owners of the stock that carries a lot of weight and influence. Anyone?
http://72.14.253.104/search?q=cache:xxaANu9xf20J:www.larryjkolb.com/files.html+richard+hirschfeld+gl....
http://www.larryjkolb.com/file/33.html
http://www.larryjkolb.com/file/34.html
http://72.14.253.104/search?q=cache:xxaANu9xf20J:www.larryjkolb.com/files.html+richard+hirschfeld+gl....
There must be some people in high levels pushing this thing along. What are some thoughts on this?
Gil responds about once a week to week and a half. He is pretty good about getting back to you. I have had numerous responses from him and I save them all to refer back to.
I knew that the need to increase authorized shares to cover conversions have been included in the 8K's but I have never seen them include an actual figure of 60,000,000,000 and speak of shareholder approval. I thought with the inclusion of this information was some sign of advancing in the process. But, you say this has been stated in the 8K's for a while?
Cali, What is your interpretation on...
subject to obtaining Stockholder Approval (as defined in Section 4(k)), 60,000,000,000 shares are reserved for issuance upon conversion of the Notes and exercise of the Warrants (subject to adjustment pursuant to the Company’s covenant set forth in Section 4(h) below);
http://www.investorshub.com/boards/read_msg.asp?message_id=19708096
4. Covenants
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.
4. Covenants
h. Authorization and Reservation of Shares. Subject to obtaining Stockholder Approval the Company shall at all times have authorized, and reserved for the purpose of issuance, a sufficient number of shares of Common Stock to provide for the full conversion or exercise of the outstanding Debentures and Warrants and issuance of the Conversion Shares and Warrant Shares in connection therewith (based on the Conversion Price of the Debentures or Exercise Price of the Warrants in effect from time to time) and as otherwise required by the Debentures. The Company shall not reduce the number of shares of Common Stock reserved for issuance upon conversion of Debentures and exercise of the Warrants without the consent of each Buyer. The Company shall at all times maintain the number of shares of Common Stock so reserved for issuance at an amount (“Reserved Amount”) equal to no less than two (2) times the number that is then actually issuable upon full conversion of the Debentures and Additional Debentures and upon exercise of the Warrants and the Additional Warrants (based on the Conversion Price of the Debentures or the Exercise Price of the Warrants in effect from time to time). If at any time the number of shares of Common Stock authorized and reserved for issuance (“Authorized and Reserved Shares”) is below the Reserved Amount, the Company will promptly take all corporate action necessary to authorize and reserve a sufficient number of shares, including, without limitation, calling a special meeting of shareholders to authorize additional shares to meet the Company’s obligations under this Section 4(h), in the case of an insufficient number of authorized shares, obtain shareholder approval of an increase in such authorized number of shares, and voting the management shares of the Company in favor of an increase in the authorized shares of the Company to ensure that the number of authorized shares is sufficient to meet the Reserved Amount. If the Company fails to obtain such shareholder approval within thirty (30) days following the date on which the number of Authorized and Reserved Shares exceeds the Reserved Amount, the Company shall pay to the Borrower the Standard Liquidated Damages Amount, in cash or in shares of Common Stock at the option of the Buyer. If the Buyer elects to be paid the Standard Liquidated Damages Amount in shares of Common Stock, such shares shall be issued at the Conversion Price at the time of payment. In order to ensure that the Company has authorized a sufficient amount of shares to meet the Reserved Amount at all times, the Company must deliver to the Buyer at the end of every month a list detailing (1) the current amount of shares authorized by the Company and reserved for the Buyer; and (2) amount of shares issuable upon conversion of the Debentures and upon exercise of the Warrants and as payment of interest accrued on the Debentures for one year. If the Company fails to provide such list within five (5) business days of the end of each month, the Company shall pay the Standard Liquidated Damages Amount, in cash or in shares of Common Stock at the option of the Buyer, until the list is delivered. If the Buyer elects to be paid the Standard Liquidated Damages Amount in shares of Common Stock, such shares shall be issued at the Conversion Price at the time of payment.
What impact is 60,000,000,000 authorized going to have? Is it possible they are going to vote for the increase to eliminate default before announcing some news? It says they cannot payback the debt if they are in default. Any interpretations out there?
We may prepay the AJW Note in the event that no event of default exists, there are a sufficient number of shares available for conversion of the AJW Note and the market price is at or below $0.10 per share. The full principal amount of the AJW Note is due upon default under the terms of AJW Note.
http://www.sec.gov/Archives/edgar/data/810932/000114420407026687/v075787_8ka.htm
c. Capitalization. As of the date hereof, the authorized capital stock of the Company consists of (i) 20,000,000,000 shares of Common Stock, of which approximately 12,200,000,000 shares are issued and outstanding, no shares are reserved for issuance pursuant to the Company’s stock option plans, subject to obtaining Stockholder Approval (as defined in Section 4(k)), approximately 15,000,000,000 shares are reserved for issuance pursuant to securities (other than the Notes and the Warrants) exercisable for, or convertible into or exchangeable for shares of Common Stock and--, subject to obtaining Stockholder Approval (as defined in Section 4(k)), 60,000,000,000 shares are reserved for issuance upon conversion of the Notes and exercise of the Warrants (subject to adjustment pursuant to the Company’s covenant set forth in Section 4(h) below); and (ii) 30,000,000 shares of preferred stock, of which no shares are issued and outstanding. All of such outstanding shares of capital stock are, or upon issuance will be, duly authorized, validly issued, fully paid and nonassessable. No shares of capital stock of the Company are subject to preemptive rights or any other similar rights of the shareholders of the Company or any liens or encumbrances imposed through the actions or failure to act of the Company. Except as disclosed in Schedule 3(c), as of the effective date of this Agreement, (i) there are no outstanding options, warrants, scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments or rights of any character whatsoever relating to, or securities or rights convertible into or exchangeable for any shares of capital stock of the Company or any of its Subsidiaries, or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries, (ii) there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any of its or their securities under the 1933 Act (except the Registration Rights Agreement) and (iii) there are no anti-dilution or price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security holders) that will be triggered by the issuance of the Notes, the Warrants, the Conversion Shares or Warrant Shares. The Company has furnished to the Buyer true and correct copies of the Company’s Articles of Incorporation as in effect on the date hereof (“Articles of Incorporation”), the Company’s By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock of the Company and the material rights of the holders thereof in respect thereto. The Company shall provide the Buyer with a written update of this representation signed by the Company’s Chief Executive or Chief Financial Officer on behalf of the Company as of the Closing Date.
http://www.sec.gov/Archives/edgar/data/810932/000114420407026687/v075787_ex4-1.htm
3.10 Default Under Other Notes. An Event of Default has occurred and is continuing under any of the other Notes issued pursuant to the Purchase Agreement,
then, upon the occurrence and during the continuation of any Event of Default specified in Section 3.1, 3.2, 3.3, 3.4, 3.5, 3.7, 3.9, or 3.10, at the option of the Holders of a majority of the aggregate principal amount of the outstanding Notes issued pursuant to the Purchase Agreement exercisable through the delivery of written notice to the Borrower by such Holders (the “Default Notice”), and upon the occurrence of an Event of Default specified in Section 3.6 or 3.8, the Notes shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the greater of (i) 130% times the sum of (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment (the “Mandatory Prepayment Date”) plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof or pursuant to Section 2(c) of the Registration Rights Agreement (the then outstanding principal amount of this Note to the date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be known as the “Default Sum”) or (ii) the “parity value” of the Default Sum to be prepaid, where parity value means (a) the highest number of shares of Common Stock issuable upon conversion of or otherwise pursuant to such Default Sum in accordance with Article I, treating the Trading Day immediately preceding the Mandatory Prepayment Date as the “Conversion Date” for purposes of determining the lowest applicable Conversion Price, unless the Default Event arises as a result of a breach in respect of a specific Conversion Date in which case such Conversion Date shall be the Conversion Date), multiplied by (b) the highest Closing Price for the Common Stock during the period beginning on the date of first occurrence of the Event of Default and ending one day prior to the Mandatory Prepayment Date (the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity. If the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable, then the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect.
http://www.sec.gov/Archives/edgar/data/810932/000114420407026687/v075787_ex4-2.htm
Cali, What significance is the 22nd? I must be missing something in the posts. TIA!
8K/A filed 5/16, Just in case anyone is interested and not aware of the amended filing.
http://www.sec.gov/Archives/edgar/data/810932/000114420407026687/0001144204-07-026687-index.htm
I assume volume will now dry up until 14th or 15th of next month. Their fiscal year ends 6/30/07 and I believe Cali posted that they have a 90 day period to file 10K's. It's possible that we will not hear anything until mid October which coincidently is when they must file their taxes that Gil said they were on extension for. Man! This stock can really test your patience! I don't even think I was this anxious to lose my virginity! damn!
OTCQX, Are we going to have the disclosure category icon of the Stop Sign?
http://www.pinksheets.com/about/pr_042407.jsp
I asked Globalnet IR (Gil) if there has been any development or activity by the company in regard to these new tiers. Below is his response.
Dear XXXX:
Thank you for your e-mail correspondence and patience for a response.
I requested input from management regarding the OTCQX and they are inquiring about eligibility for GlobalNet, which, as you know, is a non-reporting company due to the on-going accounting analysis.
We appreciate your concerns regarding the lack of information (e.g. periodic reports) available to shareholders. The Company is working to complete all of its outstanding reports. Until this action is finished, the Company is required to speak through current reports on Form 8-K.
GlobalNet Corporation continues to operate and is still working to complete its accounting analysis and file its outstanding periodic reports. As mentioned, no completion date has been provided and no assurances can be given that the Company will be successful in filing its periodic reports.
GlobalNet is committed to providing investors with the highest level of shareholder service. If you have questions, please contact me, Monday -Friday between 9:00 AM - 5:30 PM EST, at 941-650-4501.
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.
I would bet positive things start happening and information released after fiscal 6/30.
Cali, You're right there are several changes on the web site. That site needed some updating.
Is this OTCQX specific to securities quoted on the pinksheets or is the OTCBB included in this? I thought if it is just the pinksheets they could at least distinguish between themselves and the other perceived rif raf. If the OTCBB is included wouldn't getting listed on that (OTCBB) be perceived as a better move?
I do see now that this OTCQX is old news but has just recently started trading, correct?
http://www.pinksheets.com/about/pr_030507.jsp
Any response on emails or correspondence from the company that you have initiated lately? I sent an email today and have a couple of responses from Gil on previous inquiries.
I got this from another board. Don't know how valid it is.
By: mikedavis265
19 Apr 2007, 03:38 PM EDT
Msg. 32593 of 32593
Jump to msg. #
All Pink Sheet quoted securities of issuers that are not able or willing to meet the high standards of OTCQX will be placed in one of the following categories and labeled as such on www.pinksheets.com effective May 1, 2007:
For stocks with unsolicited spam, questionable promotion or other public-interest concerns, a Skull and Crossbones icon will be displayed next to the symbol on the company's quote page on pinksheets.com. If there is no current information available for a company that is the subject of unsolicited spam, the company's quotes will also be blocked.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
http://ragingbull.quote.com/mboard/boards.cgi?board=GLBT&read=32593
GLBT should at the very least apply for this...
New York, NY - March 7, 2007 - Pink Sheets, LLC has announced that Sanders Morris Harris Inc. has been accepted as an Investment Bank Designated Advisor for Disclosure (DAD) for OTCQX companies. As an Investment Bank DAD, Sanders Morris Harris will provide advice with respect to clients' OTCQX listing requirements and public disclosure obligations, generally.
"We are excited to add Sanders Morris Harris Inc to our list of Investment Bank DADs. Sanders Morris brings the experience necessary to provide a premium level of service to OTCQX companies that wish to raise their profile in the market and access public equity financing. Sanders Morris is a leader in serving small and micro-cap companies and brings to the DAD program a reputation that will distinguish issuers in the new OTCQX market tier," commented Cromwell Coulson, Chairman and CEO of Pink Sheets.
The OTCQX is a new market tier offered by Pink Sheets that provides a premier trading, quotation and disclosure venue for the securities of the highest quality companies in the U.S. OTC markets. Companies that have substantial operating businesses and provide credible disclosure to the public may qualify for the premium tier OTCQX, which commenced trading on March 5, 2007. Each OTCQX company must nominate either an Investment Banker or an Attorney as their DAD to advise them in providing disclosure to the market and meeting the OTCQX listing requirements. The DAD advisory role is designed to bolster investor confidence in the quality of OTCQX issuer disclosure.
http://www.pinksheets.com/about/pr_030707.jsp
Has anyone considered Globalnet going wholesale because Epicus is going retail with the Voip product line. "ECG On The Net"
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2007%5C04%5C10...
sounds a lot like how Globalnet describes its focus "On Net" as described in Surfkasts post.
http://www.investorshub.com/boards/read_msg.asp?message_id=18556657
This could be a sign of establishing operational synergy.
ECG On The Net could be a private label situation of using Globalnet wholesale offerings? If Globalnet and Epicus are collaborating another interesting tidbit is Sacandaga Investments, Harry M. Samuel and Epicus filing of SC-13D Item 4 1/29/2007. I can't remember who said it but they referred to this year being the year for consolidation in the industry. Someone also mentioned that before all this is over Globalnet corporate offices will be located in Florida.
This is all my speculation and interpretations of postings; take from it what you will and leave the rest. Food for thought!
When the risk metric is comparable to the S&P 500 and Nasdaq risk figures; I would think that is a good time to file 10K's and announce their submission of application for pursuit of listing on the OTCBB. IMO but then again it is bias.
Risk metric 99.
The market should remain closed Monday and drop this risk metric another 32 points. Currently at 142. I hope this adds to the stars aligning.
125 shares? Is this some kind of MM signal?
Are we now looking at end of June or mid October to not hear anything from this company?
Are they using a damn abacus to recalculate these financials?
zzzz....zzzzz....zzzz! em
Surfkast, Now that is what I would like to see here on GLBT. They are in bankruptcy and still up 16900%+. I think I will Sh*t myself from uncontrollable glee when it happens here. Of course I am optimistic, I know!
Dropping three points to 234 is not fast enough for me to get to your estimate of something happening at 190 riskgrade.
Cali, I copied this from the 8K form 11/1/06. It says that the audit process would take approximately $250,000 and the 8K's filed in '07 show that the company has raised an additional $150,000 above what they say needed to fund current operation. Does this mean that they have a total of $280,000 to allocate toward the audit process? Or has this $130,000 already been expensed in the audit efforts? Is this how you interpret this as well?
"As a result of these additional issues, the time and expense associated with the Company’s audit process will be significantly greater than previously anticipated. The Company currently believes that its remaining 2003-2005 audit and audit related costs will be in the approximate range of $250,000. With lender approval, the Company has sold approximately $130,000 of excess equipment to assist in funding previous audit and audit related cash requirements."
http://www.sec.gov/Archives/edgar/data/810932/000114420406044791/v056252.htm
Cali, Is that Monica Lewinski? She has nothin over Ms. Rubbermaid!
This sounds positive
"The Company is also in discussions with the investors regarding continued funding of the audit and restatement process."
It is interesting to me that the only additional information aside from the sale of securities for short term financing is discussion for funding the audit. Nothing else! Usually they add a little something. Waiting patiently!
http://www.sec.gov/Archives/edgar/data/810932/000114420407012910/v06556_8-k.htm
Gooozfraba, Booozalota. LOL! Waiting for news em.
Cali, I did watch but...
I don't recall them mentioning a plan of resolution ready for implementation. Do you think this will pressure the naked short sellers into covering?
I submitted several other questions on Friday. When I get a response I'll let you know. I remain optimistic.
Globalnet fiscal year ends 6/30. Doesn't March 31st constitute the end of 3rd quarter? We might not hear anything until the end of June? Something to think about.
Mark Schaftlein and Epicus launch ECGOTN Voip Service today. Could Globalnet be tied in there somewhere?
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2007%5C03%5C09...
Hear hear!
On the other hand, maybe his job is almost complete with some of the companies he has his finger on the pulse of. Just a thought!
He's all over the place. He was just named President and Director of Pacificap Entertainment Holdings Inc. on 1/26/07.
http://www.secinfo.com/d12TC3.u4c4.htm
Either he is really good or spreading himself too thin.
OAA would fall in the category of stockholder sellers below taken from the MOBL SB-2 9/30/05. OAA most likely would have been acting in a consultant or advisor capacity.
"Certain holders of warrants to purchase an aggregate of 32,950,000 shares of our common stock that were issued to current and former employees, consultants, advisors and directors."
By OAA retaining its shares it would have created a conflict of interest in matters of closely held relationship of EPCG, GLBT & MOBL if they were to collaborate in efforts toward future possible opportunities? Just knocking this around trying to get a grasp.
I found Bertspick's theory from the RB Board interesting between MobilePro, Globalnet and Ocean Avenue Advisors. I have only been able to find that as of 9/30/2005 OAA only owned 2000000 million shares. At which time it appeared as though they were being asked to sell all shares. I'm not sure if I'm interpreting this correctly. Even if OAA still holds its shares of MOBL, I wouldn't think 2000000 million shares would be enough to be pursuasive with the company. Does anyone know if this link between these companies runs deeper than what the SB-2 form below indicates?
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D05...
Stock Buzz #1 & #2
http://www.thelion.com/bin/forumlist.cgi?cmd=roar20