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"As of October 2007, Sanswire no longer occupies a hangar at Palmdale Regional Airport, the monthly cost of this space was $20,847. This facility is adjacent to the United States Air Force’s Plant 42 and Edwards Air Force Base. Sanswire constructs and tests Stratellite and Sky Sat prototypes at the facility. The hangar also includes administrative office space."
Shouldn't that read "constructed and tested"? The use of present tense makes it sound on going, which we know it's not. Probably a cut and paste that didn't get properly edited afterward.
The company should probably issue a clarification.
Yes, that sounds a bit too close to home for comfort. However, by the same logic used for the unfoundedly optimistic scenario, viewing a plane wreck from one that is in the air does not mean a crash is imminent.
It appears we have a product and that there have been earnest, but clumsy, attempts at marketing it.
So all is apparently not lost, at least at this time.
...but I could be wrong.
Just to put a point on the importance of good management, the Google story could just as easily have read along the lines of 'due to poor management, lack of business accumen, and incessant, counterproductive infighting, Page and his associates were never able to realize the full potential of the software that they had developed. That is why we have the second rate search engines that dominate the web business today.'
So pointing to successes as a rationalization for optimism seems like it is similar to pointing to a plane flying overhead while standing beside a crashed airliner...yeah, ok, but that doesn't mean that this one didn't go down.
Not bashing, just a little hard nosed realism. This one needs to pick itself up. It could happen or it could stay down and fade away.
Yes, good news. The personnel are changed plus we get to keep the tasks at hand. Nothing to do but to do them! Go team go!
You're right, my wording didn't reflect what I was trying to say. By 'being considered', I meant by the likes of us and not by Globetel.
Jon heard you express the idea, that is all that is known.
Mide, thanks for serving up something other than the usual fare around here. It is admirable that you would do this, and also appreciated.
Sad that a renegotiation of the JV is being considered. Once again, the personnel were not up to the task. Now the personnel are gone and what's left of the tasks remain.
Apparently it's feasible enough for Globetel to become propped back up financially. It seems Globetel has enough know how to get a shell ready, but then lacks the racehorses and resources to get the machine rolling right.
Hopefully Jon will make it happen this time, at least it is good to know that someone with the fundamental smarts required is in the chair. That is largely thanks to the sec, I'd say. (yes Virginia, sometimes regulation can be a good thing) I hope they don't loose their focus on requiring qualified personnel when and if the sec problems dissipate.
That is key.
Perhaps they already have the copy and are only too happy for any additional material that might show up.
As far as making the list is concerned, I have nothing to hide, I have had no contact with the company regarding anything, much less a focus group or inside information. Just the commonest of shareholders with opinions and speculations based on public knowledge, like anyone else on a message board. 'Enjoy the reparte, that's it.
I have not traded my shares since buying them in '05, so there is nothing I would not be happy to say in a deposition. I don't have time for a trip to FL though.
I have felt foolish for ever buying shares, but I did and there is no sense selling now. Just going to wait for things to turn around, or go down with the ship. I don't purchase individual stocks as a rule, this is just a flyer with money I can afford to loose. Granted, a bad investment strategy. Just a fool and his money, lol, nothing more.
not a leagle beagle but I imagine that is just the figure that pops it out of a small claims court. Rest assured the calculated damages will be much higher, if it comes to that.
basically agree with that assessment. We are back to where we were for a speculative stock with no reported revenues or profits.
There are huge motivations for issuance of financials, so expect to see them.
Normally I would be very impatient to see revenues and profits. Today, I am just glad Globetel is still alive and breathing. That has to be bad news for shorts.
Oh no! This will surely spell disaster for Globetel.
That's the kind of slip up that means he should be standing in a darkened room, peering through the blinds in fear of being discovered for the shameful things he has done.
Well Mr. CEO material himself has toughed his way straight into a nasty lawsuit. Right now the heading on his website says "OOPS!"; it's the only valid word on it, imo.
Talk about slamming one's finger in the door. I hate when that happens. I wouldn't blame anyone, mide or otherwise, for not disclosing personal identities or meeting with this guy. Wouldn't be prudent.
It looks like maybe the bottom line with Joe is he may be in deep trouble with the SEC and on top of getting fired, perhaps from his perspective running the risk of having this happen looked insignificant by comparison.
If he's been lying, then he richly deserves this. 'Should know better than to tempt legal action from a CEO who is a lawyer.
I know everyone noticed the parts in the lawsuit that state that the JV is not over or suffering in the ways that Joe stated it was. That equals another great PR for today.
I think Accel is shell shocked along with the rest of his motley crew. arrggghhhh
'love it when a plan comes together, eh HotSauce?
Reports of the death of Globetel have been greatly exagerated. If the SEC were bearing down on Globetel for fraud, as some have amplified for benefit of shareholders, then this PR would not have been released.
Actually the discussion has been elevated out of the pits and into the more traditional topics of products, earnings and profits, which is a development that I whole heartedly welcome.
Otherwise it sounds like a lot of whining. Isn't today, the 15th, supposed to be significant vis a vis the grandfather clause? Nice way to celebrate.
This is absolutely fantastic news.
thank you very much bagelboy. I was asking because I wanted to make sure that the reference to 2004 in Rob's e-mail could be applied to JM. Apparently the answer is yes, it could be.
That is good in my mind because it does not raise new questions. The plural used for the 'officers' apparently means JM and someone else, although I do not know this to be a fact.
...maybe easier to answer to ask was JM was around in 2004? That was when the switch was purchased, was it not?
Does anybody know when JoMoe started with the company?
TIA
Just for the f'ing record, it would raise Globetel up from a level six feet below the business end of an outhouse to provide a comprehensive update of "its previously announced initiatives".
Nerd, you said you thought the delay in issuance of the Wells Notice indicated wrong doing that occurred after the start of the investigation. Could it still all be in Joe's lap or perhaps in Joe's and Peter's?
Since Peter is no longer part of current management, that would be consistent with the PR message of yesterday. Could that also explain why trading was not halted? SEC gunning for people who are gone and willing to give benefit of a doubt to current guys to save shareholders for as long as possible, but must have reporting or else they will have to put them up against the wall?
There are ongoing concerns whose history is there to learn from, like the joint venture for instance, and there are also people involved that are now running the company.
One can make informed judgements about the future on that basis.
You know what they say, those who do not learn from history are doomed to repeat it.
More information can't hurt. Lack of it can.
I think what Owl is saying is try to get past the personality of the man and look at the inside workings of the company you are invested in. It begins to become clear why things are always getting screwed up. To not take the time to read the documents is to remain unnecessarily, and intentionally, ignorant about Globetel. This is not conducive to intelligent decision making.
wow, the negotiating skills of Joe and Tim appear to have the combined affectiveness of a two year old looking for extra pablum.
Review this e-mail exchange where they are discussing the price of the radios http://www.joemonterosso.com/khoury-4-20-07_0001.pdf
Tim gets the ball rolling by quoting a rediculously low price, and if he didn't then Peralta's are clearly opening the negotiations by taking that position. In either case Peter at least has the sense to go into the room with a padded price and is seeking the support of Mr. CEO material himself in preparations for taking that position.
Joe's attitude is 'Oh no, Pablo will be looking at it so very closely, and we must not include the nut and bolt cost because he may not be interested in that.' (Joe, put in everything including the kitchen sink plus labor at billable rates, and make sure that includes all of the extensive overhead associated with this complex operation)
He's not interested in any of the costs there JoeMo, he'd like to take 'em fer free and you look like you're out there to help him do it. It's called negotiation and you're about as helpful as a box o' rocks.
On what basis does Rob make this estimate, and on what basis do you evaluate it as probably correct?
Not disputing but really, what possible bases could be used?
"...what's another couple of years..."? well, you and I probably both know at least someone who unfortuately will likely be dead by then. I'd say that's a lot that can happen in two years. I wouldn't toss years around like they're nothing.
Also, why should the incompetence and greed displayed by this group be suffered lightly. I know, sell and move on or agree with me and my opinions. Even if I were to sell and move on, I'm not one of those 'never look back' people. The truth would remain that I was mislead and as a result I lost my money.
That was not really the risk I signed up for. I was gambling on the market viability of the products CLAIMED to be offered, not on "how far can delusional executives get while sailing the yacht backwards". LOL
Nice job owl, good reasoning. The 4/03 e-mail sounds like Joe is becoming unhinged, and Jonathon more or less says so when he says he knows they are all under a lot of pressure. Joe feels that it is necessary to outline Tim's responsibilities for the JV ('the project manager in Mexico'). That seems weird in the context of discussing the matter at hand, unless he is making the point that he is being stonewalled by superiors and only gets info from below. But the weirdest part is when he states that he had not said the JV would hold GTEL in default in response to Jonathon's answer to Joe's preceding e-mail to Jonathon. Ok, maybe those literal words were not used, but there is no question that is exactly what he meant. It sounds like he is quaking in his boots, for real and/or imagined reasons, and writing in a frame of mind where he is imagining the trail of evidence that will be left for future reviewers. No wonder they canned him.
The whole story remains to be seen, it could still be a pile of nothing for GTEM, but this does reveal that they were at least struggling toward the proper goals, and not some sort of a scam, as some are convinced this is.
oneeyedjacs..absolutely. This could come to pass and they could even make money some day. My post was basically meant to say that I believe this to be their earnest intent, which is good.
Interesting that some will only be encouraged with nothing less than GTEM in a box six feet under.
Like I said, that has not happened and that's a good thing.
It is true that in the past LOI's and endless pr's have come to naught and meant only temporory price gains. Over the years, the affect on sp has become less and less as they've been released. Excpept for the excitement of the moment, it really means nothing.
I'm not complaining. I like that fact. TAO knows this also. Therefore they have no motivation to participate in a p & d scheme since they know it wouldn't work at this point in time. I don't think GTEM conned them, so this could actually be good news in the sense that it is what it appears to be. No increase in share price is fine, it's not justified on this basis. At least we're still sucking air.
...and yes, I do not recommend this as an investment.
..something having to do with 'honor among thieves' seems to be coming to mind.
Use of the word cash may have been an error. Perhaps it would have been better stated that further accrual of debt will be abated, stemming increased liabilities to the balance sheet, which will improve the financial condition of GTEM compared with what it would otherwise have been.
Some good points being made on the TA board that might be noted here.
Being out from under further cash drain by a non-productive entity such as the hanger facility will improve the ailing financial condition of GTEM.
Shorts may recognize the dual nature of this 'bad' news and be covering on the down pulse while recognizing things may be turning around ahead with financials pending.
In a perfect world you are right, but the reality of leasing space to aeronautical concerns is a dicey proposition from the get go.
I googled LAWA and found court cases on a number of leased hangers. It happens all the time. One case went on for ten years and then was settled, and the tennant got to stay for another 30 months!
Jetmek...what I mean is that given a set of documents that are real, one could then falsify additional documents and then write opinions based on an emalgamation of real and false documents. So, the challenge is to sort out what is real from what is false. I have no idea which is which or even if this is actually what is happening, but imo it is reasonble to have doubts that all are real, while some do appear to be authentic.
As far as contacting people involved in this, I prefer to watch it played out by those involved. If it is Joe, he'll have to prove it on his own, if it is not, I don't care to have any contact.
Jetmek...as far as the documents, they are what they are and I would not say they are more or less damaging in either case. The question in my mind is 'Are they being used as a foundation for facts or for fiction?'
Just because we do not see action or a public denouncement is not reason to believe nothing is happening. If there is an investigation he is cooperating with, that would be one scenario.
Another would be that he simply does not wish to waste his time and money on message board claptrap. Taking his possible standpoint for a moment: It's not me, I'm not in Globetel anymore, I'd rather take some time away from it all.
If it is a case of a stolen hard drive, imagine the goldmine of information that it would be to someone wishing to use it in this way.
The reason I am not asking for logical inferences relating to the web site content is this:
If someone outside of the company got hold of a hard drive with those e-mails on it, then anything is possible.
Theft of hard drives happens all the time, by the way, especially when legal matters are involved.
Is there anyone(other than Vern, of course) on this board who purports that Joe's web site is actually authored by Joe M.? I mean on some other basis that the content of the web site itself. In other words, do you have contacts who confirm it?
Saying it must be Joe because only Joe could post this or that on the web site is not what I mean, but is probably the best anyone can do.
Sometimes I wonder if someone is taking advantage of the Wells Notice by impersonating Joe, knowing that to start any kind of a response to such an impersonation would be next to impossible for him to manage, given his circumstances. It sure reads like a lot of manufactured tripe.
customers?....money?.....this could be good.
Sanswire still in the hanger and will be on Monday?...that's gotta be good if it's true and those good feet on the ground say it is.
No after hours news? That's a good thing.
None of the many, many dire predictions that were said to be due by now have come to pass? good.
Looking forward to the good words of Mr. Vazquez.
Thank you Mr. xs alan (and of course serious1 as well). I see you have been around quite a while and do not post excessively. Only when you have something important to say, eh? That is good too.
And a QUE TENGAS UN BUEN FIN DE SEMANA to you too, sir. Good night!
Joe would probably consider the job..lol.
..."Oh, you're the one with the 10,000 questions. Yes, we'll deal with them."
So that just turned out to be another lie.
You should have replied (if I may be so bold) by saying, "We would be happy if you would deal with just one of them."..which of course he never did.