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db7, that info was thrown around these parts over 2 years ago http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49944141 by "zen" who brought the Geoworks board back to life, so to speak. If you go back and read those early posts from zen there's lots of interesting speculation that unfortunately has yet to manifest itself.
The dots seemingly pointed in the direction of MS's hedge fund reverse merging into this shell and going public but that was a long 2 years ago and nothing yet.
Hopefully a good business will eventually go public via NCMV and us shareholders will finally be rewarded for patience far beyond the call of duty, at least in my case. Good luck to us all.
Zen, thanks. Nothing to do but wait. My sentiments mirror yours in regards to going forward. Hopefully our patience/perseverance will be financially rewarded one of these days.
Zen, any idea on what's been going on here? Still thinking this eventually becomes a publicly traded hedge fund? The long deafening silence that's followed the symbol change has me now wondering about that particular speculation, as opposed to Schwarz still pondering the future use of this shell?
Their share holdings combined with what most assuredly would be a MUCH higher pps if indeed this became a traded hedge fund begs the question, was this (hedge fund) really their focus and intention from the beginning?
The one constant is the continuing action (albeit usually light) in the stock along with the ask remaining firmly entrenched in the .11 area, all minus any news of any kind for quite some time. Thoughts?
BTW, didn't you attempt to contact the company months ago? If so, any feedback?
There apparently was some sort of filing today by NCMV. Notice on the Yahoo Finance page for NCMV under "Headlines" there's a listing. I didn't go to EDGAR to check it out. http://finance.yahoo.com/q?s=NCMV.PK
Zen, thanks for the info. Since the change is dated 5/27 I'm assuming this starts trading under the new symbol tomorrow even though minus a PR I'm wondering a bit? BTW, are you going to start a new NCMV board or just continue posting here?
Zen, your point about any reverse split given the current O/S and overall situation with the share structure is well taken and makes perfect sense. In other words, I'm sure you're wrong. LOL Seriously, as a long time shareholder I've got my fingers (and even a few toes) crossed hoping that all your educated guesses and positive speculations eventually come to fruition.
Zen, you're definitely keeping the board updated with as much info as would seem humanely possible, especially considering how "invisible" Geoworks has been to the investing world since their descent to the pink sheets years ago. Great job!
In regards to what might happen next, some thoughts derived from all my years playing penny stocks. If Mr. Schwarz does indeed turn GWRX into a publicly traded hedge fund, where would he like this stock to trade? Most assuredly not on the pinks, I would assume. OTC BB? Not likely. One of the three major exchanges? If he wants to legitimize everything he's doing, the obvious answer is yes. However, one big problem......the current share price.
I believe we're talking anything north of $1 for starters to qualify for one of the big boys, and to eliminate any immediate worries of an initial drop to back below $1 once you begin trading on the new exchange, a much higher price is most preferable. In other words, you'd probably want somewhere between a $5 and $10 starting point.
Having said all that, the dreaded words "reverse split" come into the picture under this hypothetical situation of what happens next. And at the current SP, something like a 1 for 50 or 1 for 100 would be needed to get the SP into NYSE-Nasdaq-AMEX range for acceptance. Ouch!
I've owned many penny stocks that have reverse split their shares. Mostly fly-by-night outfits that could care less about the common shareholder, and mostly companies that weren't worth the paper their shares were printed on. But in some cases, the r/s was needed to boost transparency and shareholder confidence going forward as legit companies looked to honestly create the best situation possible for long term success. Either way, it was not what I was looking or hoping for when I was accumulating all my hundreds of thousands of shares pre split.
So, obvious questions. Does Mr. Schwarz want to go NYSE-Nasdaq-Amex with what is still GWRX? If so, how soon (could the current SP rocket up on it's own via possible future PRs)? If a r/s, how severe? Then again, other than the recent name change, maybe nothing happens which would make all this moot. Thoughts? Speculations?
This excerpt about Mark Schwarz was taken from an article written about 5 years ago.
"Schwarz, 44, founded Newcastle 12 years ago with an investment philosophy based on the intrinsic value of assets. Basically, Schwarz and his Newcastle partners find a small, publicly traded company that isn't performing well. That's step one. Step two: buy a controlling interest. Step three: insinuate yourself onto the board of directors, clean house, and get the company to perform to its potential. Step four: profit. Philosophy is good; results matter. Newcastle boasts a 12-year annualized return of about 27 percent."
So far, I like what I've read about Mr. Schwarz.
Zen, thanks for the reply. Potentially sounds interesting, but with a stock like this anything can happen, including not much or nothing at all. Bid/ask is .10/.20, yet how many even know (besides you and me) that GWRX even exists? Would love to see this stock take off after so many years of going nowhere, but I'm not holding my breath. At any rate, at least someone finally blew the dust and cobwebs off the cover. Let's see what happens next.
Zen, are you really there or just a mirage? LOL Long time since I've seen anything posted about Geoworks. I bought stock many moons ago so consequently I keep track of the share price. To my amazement this sucker has traded fairly regularly for years, never moving up or down that much, yet never any news to support any trading interest from the market in general. In other words, this entire situation has been a complete mystery to me. Do you have any idea what's going on now, and what could transpire in the future? Thanks for any insights you might have to offer.
This is about a year old but still makes for some interesting reading. http://www.advancedsmallbusiness.org/positionpaper.htm
"Another shot to the foot" Firstly, do you understand what the word "goal" means? In this case, it DOESN'T mean someone on ice skates shooting a puck past a goaltender, and into a net. It DOES, however, mean an object of effort by GlobeTel. Secondly, if the untethered flight at a record-breaking altitude occurs at the end of July (60 days from the end of May), their "goal" will come reasonably close (30 days) to being met per the April 10 PR........Regardless of any flight timelines, the most important aspect of this latest PR is GTE's climb toward company profitabilty. GlobeTel will eventually trade in double-digits if their Stratellite project ends in success. But if not, GTE will still prove to be a good investment if they reach profitabilty, and then sustain and increase those numbers in the future.
Interesting observation from Rocky .........Subject: Observation: Posted By: Rocky1 Date/Time: 05/12/2006 8:00 PM CST Message #: 783 of 783.....I find it very interesting that Caterham Financial has not sold any of the almost 13MM shares they have since converting them in December, over 4 months ago. On top of that they are purchasing more shares per the latest 8K. (from 10K) "In December 2005, the Company entered into an agreement with Caterham wherein all 35,000 Series A Preferred shares were converted into 12,931,334 post-split shares of GlobeTel common stock in full settlement of all obligations of the parties."
Posted tonight on Rocky's board...... Subject: Re: rocky Posted By: Rocky1 Date/Time: 05/10/2006 9:50 PM CST Message #: 775 of 776This is a reply to message # 774 written by hogman5. This message has 1 reply. View ThemI will start by saying that if I believed any of the lawsuits and what they are saying I would have be gone by now. I apologize in my previous post to "DonandUrsula", I see the lawsuits are now around 5. I was out most of this afternoon so I was unaware of the latest two. I don't expect GTE to address each one as the "pile on" suits will probably continue. GTE will have their day in court and imo will resolve(show the facts) and the lawsuits will drop like flies. Again, jmo. Where are we at now and how did we get there? The 10K showed that 2005 was not all many hoped it would be. I believe many were expecting much better results in the 4th qtr but not real sure as to why since no new implemented programs had been announced. Couple the above with new reporting numbers (options and one time non-recurring charges) and the numbers looked worse than they actually were and many believe the compensation doubled which just is not true. The annual report pointed only to Centerline again being the revenue producer when it was reported throughout the year that other programs would be initiated, they were not. The profitability predictions and break even predictions did not happen and definitely did not help things at all. Now throw in the final closure of the Internafta deal, the countless negative articles and now the lawsuits. Those are some of the biggest reasons in my mind that GTE got itself between a rock and a hard place. I am a believer in what GTE has and I honestly feel they will start to prove that soon. If not, the troubles will continue. Results in their business units will show the masses how many good things GTE has going for them that are already being overshadowed by the negativity. I for one have not forgotten...thanks
Class Action Lawsuits...... While I'd MUCH rather see a bunch of PRs from GTE announcing gobs of good news, the sudden slew of GTE class action PRs is really not that disconcerting if you take the time to peruse the stock market these days. We live in a litigious society, and when people lose money, many will blame anyone but themselves for their sudden financial predicament, while attorneys will always be there to calm their nerves while collecting their money at the very same time. Just one example of "Lawsuits Gone Wild" would be NFLD. Count the number of class action PRs at NFLD's Yahoo site, and also see if you recognize any names in these PRs. http://finance.yahoo.com/q?s=NFLD .........It's good to remember that the Russian deal was handled from the outset in Moscow, not by a couple of GTE lawyers from Florida, but by a very prestigious law firm, Cleary Gottlieb (Cleary Gottlieb Steen & Hamilton LLP is a leading international law firm, with 12 closely integrated offices located in major financial centers around the world. For more than 50 years, the firm has been preeminent in shaping the globalization of the legal profession. Our worldwide practice has a proven track record for innovation and providing work of the highest quality to meet the domestic and international needs of our clients. In recognition of the firm's strong global practice, its effectiveness in dealing with the different business cultures of the countries in which it operates, and its success in multiple jurisdictions, Cleary Gottlieb received Chambers & Partners' inaugural International Law Firm of the Year award). I wonder what Cleary Gottlieb thinks about this "sham Russian deal"? LOL Right now, GTE's pps "hurts", but hopefully some "pain medication" is on the way. :) In the meantime, I think I'll sue McDonalds for emotional distress after eating cold french fries tonight. LOL
From Motley Foolishness....... IMO, reading MF is a general waste of time, but this morning there was an interesting piece written that ties the Reg SHO list to possible investment ideas. As much time as GTE has spent on the Reg SHO list in recent months (or is it years?), I thought this was worth passing along. http://finance.yahoo.com/q?s=OVTI (FYI, I have OVTI listed on my Yahoo stock page, and therefore saw this article which was linked to the ticker symbol. Scroll down to read "A Peculiar Investment Strategy")
GlobeTel and Travelex ...........Travelex bought by Coinstar. http://biz.yahoo.com/bw/060504/20060504006084.html?.v=1
"The pps started to slide on Friday" .........Started to slide to what? The pps had gone up for no apparent reason the previous day, now it was simply dropping back to the same price, on lower volume. Yes, it is a bogus lawsuit, but there's no comparison between some meritless lawsuit, and losing out on $600MM. Please! Again, the numbers are there if you want to look. On negative Russian news, GTE's pps dropped substantially on March 13. Until Monday, investors were biding their time waiting to see whether or not the deal would come to fruition. GTE can say all they want from here-on-out about POTENTIAL deals, but until something is finally for real, the market will continue to look at GlobeTel with a skeptical-eye. Anyone with an ounce of intelligence could see the lawsuit was a joke. To finally get news on the Russian deal was another matter, entirely...........I'm not much on conspiracy theories, but I do agree that there are certain agendas related to short selling that deserves attention. In that regard, the shareholder suit you drafted makes some good points. That said, I'd leave the legal maneuvering to GTE's attorneys. It can be frustrating to read things from people who are obviously not "friends" of GlobeTel, but if this damn company can walk-the-walk the rest of this year, all the critics will be silenced, and GTE shareholders will be smiling all the way to the bank. In the end, that's all that really matters.
While I'm all for removing the "ambulance chasing" attorneys in our society, and these guys (GTE lawsuit) look the part, I believe the premise behind your "counter suit" is as weak as their frivolous claim. Did any GTE shareholder lose money because of last Friday's lawsuit PR? The FACTS say that's highly unlikely. GTE's pps closed at $1.73 on Friday (4-28-06). The PR was released after the market closed the same day. Twelve minutes after the market resumed trading on Monday, GTE released it's default PR, stating that the $600MM deal with Internafta was being called off due to lack of payment from the Russians. It was THIS news that resulted in Monday's selloff. Increased volume and an early selloff prior to Friday's close related to the lawsuit PR? Well, there certainly wasn't an increase in volume. On Thursday, volume increased to almost 2MM shares traded, and GTE's pps closed at $1.91 from an open of $1.73. Friday, volume DECREASED to 1.2MM shares traded, and GTE closed back to it's previous day's opening price of $1.73. And in fact, during the period of April 12 thru April 28, GTE traded in a narrow range of between $1.67 and $1.78, so Friday's closing price of $1.73 was just another ho-hum close on rather weak volume, and very much within the trading range of the previous two weeks. Before Monday's selloff related to the default news, GTE had also taken a hit on March 13, when the pps dropped from $3.23 to $2.56 on news that GlobeTel was giving the Russians one more week, or else (default). Subsequent updates that kept the deal alive resulted in a trading range of $2.56 to $2.10, until April 12, when Motley Fool came out with their "Silent Treatment" article, which dropped the pps from $2.10 to $1.78. (All of these price movements along with volume numbers can be viewed at http://finance.yahoo.com/q/hp?s=GTE ) So, in summary, while these so-called "lawyers" are apparently the kind that give a bad name to their profession, the news from Russia, along with a helping hand from the Fools at Motley, are the primary "culprits" in slowly bringing GTE's pps to where it trades today. IMO, the notion that the lawsuit news is a factor in the pps decline is incorrect, and simply not substantiated by GTE's trading numbers.
cpmac, you hardly need any guidance for Q1, since GTE's 10Q will be out very shortly, and you'll know EXACTLY how the first 3 months of '06 has progressed. As for the entire year, I found plenty of "guidance" in their PR issued just 2 weeks ago, or have you already forgotten? >>>>>>>> "30 June 2006: Centerline Communications, GlobeTel's IP Carrier Division, will reach $350,000 per month in net operating profit.30 June 2006: StrateVoIP Division, GlobeTel's IP Phone Division, will reach positive monthly EBITDA and will double net profits every 60 days throughout the remainder of 2006.30 June 2006: Sanswire Networks, GlobeTel's High Altitude Airship program, will have completed the tethered testing of its Sanswire II technology demonstrator and will have performed an un-tethered free flight test at a significant altitude.30 September 2006: GlobeTel's Magic Money Program will become EBITDA positive.30 September 2006: GlobeTel Wireless, GlobeTel's Wireless WiMax Division, will have at least one metropolitan network installed and operational.31 October 2006: GlobeTel will become EBITDA positive.31 December 2006: Shareholder value must be materially higher by the end of 2006." >>>>>>>>> And it was only last month that GTE updated you on the "STRAT" >>>>>>>>> http://biz.yahoo.com/bw/060301/20060301005557.html?.v=1 As the saying goes, "You can please some of the people all of the time, and all of the people some of the time, but you can never please all of the people all of the time." May God bless those 38,000 pissed shareholders. LOL
design333, I'm not sure what shareholder longevity has to do with whether or not GlobeTel is sufficiently communicating with it's shareholders, which was the point of my post. Your "wild guess" is correct, I'm well into the "black" with my investment in GTE. However, buying this stock 7 years ago has little to do with my profitable position. In fact, a little over 2 years ago, GTE closed at 3 cents, or a split-adjusted 45 cents. And if you check out this chart, you'll see that there have been MANY opportunities over the last 5 years to buy at prices that would have put you in a very comfortable situation today. http://finance.yahoo.com/q/bc?s=GTE&t=5y&l=on&z=m&q=l&c= Evidently, your timing hasn't been all that great, but in the end, the share price only matters when you sell. Hopefully, when you decide to sell your shares, you'll be wearing that same great smile (picture). :) Good luck. Steve
So, what's all the crying about regarding this so-called lack of shareholder information? Let's see, there's a helluva long 10K you can read, there were 6 PRs issued last month, and with a week to go in April GTE has released 5 PRs this month. Oh yeah, and their Q1 10Q will be out sometime within the next 2 weeks. I can never get over how people can constantly breakout in a cyber-sweat over this issue of company news. Here's a novel thought, instead of e-mailing or phoning IR asking for "updates", try waiting for the next PR to be released. As I previously documented, GlobeTel has "updated" their shareholders to the tune of 11 PRs over the last 7 weeks. This doesn't sound like a "company news blackout" to me. Gawd! In the 7 years I've owned this stock, I've not once called/talked to anyone associated with ADGI/GTEL/GTE. And the ONLY time I ever e-mailed Tim Huff was to encourage his continued efforts to do his best in running GlobeTel. I enjoy reading news as much as the next person, but some of the sentiments expressed on these boards can be downright baffling at times for me personally. Give me 11 PRs out of every 7 week period and the last thing I'll ever cry about is a lack of COMMUNICATION. LOL It always comes back to the pps. If GTE was trading at $10 and hadn't issued any news for 3 months there would be nary a complaint. Well, the pps has lately headed south on weak volume and some Motley Fool garbage. IMO, after the next 11 PRs are released, GTE will be trading much higher. If not, then complain about the news itself. At least that would make more sense than what's going on now. Did someone say 38,000 pissed shareholders over this Bleckman thing? LMAO At least it's comforting to know that most of those 38K shareholders never post their thoughts on any message board. They might all be impatient, irrational, know-it-all dopes, but I'd hate for them to actually post and remove all doubt. LOL
Wi-Fi read (cont) .......... Still, HP said that there were only 842 help-line calls out of more than 50,000 user sessions in the first 45 days of service.At first, a desktop computer in Lusardi's house could use the Wi-Fi network with no problem, but his laptop would only work outdoors. Even then it was too slow and unreliable, so he kept his $20 per month Sprint DSL service.Now the desktop doesn't even work, and he's completely abandoned the idea of dropping his pay service and using the network."It's just total frustration," Lusardi said. "I'm going to stay with the DSL and just forget it, because I don't think it's going to work. Very few people are going to use it, and they're going to say it's underutilized and they're going to shut it down."Lusardi didn't shell out the money for a signal-boosting device St. Cloud recommends for those having trouble connecting ? City Hall sells them for $170.Fleishman said the fact that others share Lusardi's frustration is a crucial technical and public relations problem for the vanguard project. He said residents should understand many won't be able to use the free network without additional equipment to strengthen the signal."It's very large and it's very ambitious, so they're going to hit some of these problems before some of the marketing and technology is out there," he said. "Products have to catch up to this new market."Fleishman said other cities would likely have the same problems ? in bigger cities, even larger ones ? if they didn't fully inform the public of necessary equipment and network limits.Former Mayor Glenn Sangiovanni, who spearheaded the project, stressed that kinks were still being worked out, but noted that not everyone was having problems."There's a lot of variables, and that's part of it," Sangiovanni said. "It could be the block construction you have, it could be the tin roof you have. There's lots of different things that could be unique to your environment as opposed to my environment."We went into this with the expectation that it's really a year plan that we're going to implement," he added. "You don't know what you're going to get into when you take on the whole city because you can't stress test that."Ashley Austin, a freshman at nearby Florida Christian College, said she likes using the network to do homework on the city's picturesque downtown lakefront. She said it's also the only way to get online if Internet service is down at the wireless telephone store where she works."So far I haven't had any problems with the use that I've gotten out of it," she said.Resident Chuck Cooper, a former city commissioner, bought an antenna, but still gets a shaky connection. Navigating from one site to another still produces errors.Generally, he says, it's slightly faster than dial-up access. But even critics like him are quick to praise the endeavor in between grumbles over early problems."All in all, I guess it's a good idea," Cooper said. "I equate it to cell phones 10 to 15 years ago. You used to have a lot of dropped calls, but now they're substantially better. Hopefully, this will get a little better a lot quicker." ©2006 Associated Press
Interesting Wi-Fi read .........GlobeTel, why not help these poor St. Cloud folks out? :) Pioneering Wi-Fi City Sees Startup WoesBy TRAVIS REED, Associated Press WriterMonday, April 24, 2006 (04-24) 04:41 PDT ST. CLOUD, Fla. (AP) -- More than a month after St. Cloud launched what analysts say is the country's first free citywide Wi-Fi network, folks in this 28,000-person Orlando suburb are still paying to use their own Internet service providers as dead spots and weak signals keep some residents offline and force engineers to retool the free system.Joe Lusardi's friends back in New York couldn't believe it when he told them he'd have free Internet access through this city's new Wi-Fi network. "Everybody's happy they were going to have it, but I don't know if they're happy right now," said Lusardi, a 66-year-old retired New York City transit worker.The same troubles with the small town's big Internet project could be lessons for municipalities from Philadelphia to San Francisco considering similar networks.St. Cloud officials are spending more than $2 million on a network they see as a pioneering model for freeing local families, schools and businesses from monthly Internet bills. It also promises to help the city reduce cell-phone bills and let paramedics in an ambulance talk by voice and video to hospital doctors.Instead, what they have so far is a work in progress."All technology has its hiccups, and sometimes more than hiccups," St. Cloud Mayor Donna Hart said. "I think that it's going to be a major challenge, and it'll probably be a major challenge for some time until the technology is such that it works properly."Wi-Fi is the same technology behind wireless Internet access in coffee shops, airports and college campuses around the country.Several cities have Wi-Fi hotspots, but St. Cloud's 15-square-mile network is the first to offer free access citywide, said Seattle-based technology writer Glenn Fleishman, who runs a Web site called Wi-Fi Networking News.Other cities like Tempe, Ariz., have networks over a larger area (187 square miles), but access isn't free. Planned projects in places like Chicago and Philadelphia would also dwarf St. Cloud's network, but also require a fee for access.Google Inc. and EarthLink Inc. are teaming up to build a $15 million Wi-Fi network across San Francisco, and their proposal is entering final negotiations. EarthLink's faster offering would cost $20 per month, while Google would provide a slower, free service financed by advertising.St. Cloud launched the network on a trial basis in May 2004 in a new division of town to help give businesses an incentive to relocate. After further exploring the benefits, officials decided to expand it citywide.Project supporters say increased efficiency in city government will cover the network's $2.6 million buildout and estimated $400,000 annual operating expense.For example, phones that use the Wi-Fi network will allow it to cut cell-phone bills for police and city workers. The city can avoid adding 10 more building inspectors because the network will existing employees to enter and access data onsite instead of driving back to the office.The network also could keep the estimated $450 that St. Cloud households now spend each year on high-speed access in the local economy.As of last week, nearly 3,500 users had registered for the network, logging 176,189 total hours of use. St. Cloud contracted with Hewlett-Packard Co. to build the project and provide customer support."HP is working with the city and its partners to optimize the solution and install additional access points to help improve signal strength in isolated areas of the city," the company said in a statement.So far, there have been plenty of calls from frustrated residents. Some can see receivers from their homes and still can't sign on ? even on the porch. Others have tried to connect countless times.Still, HP said that there
Where's SEABASS? The next time he starts mumbling about "lawsuits", he should read this. >>>>>>>>>>>>>>>>>>>>>>Shareholder Lawsuits Not Path to RichesFriday March 24, 5:16 pm ET By Ellen Simon, AP Business Writer NEW YORK (AP) -- Suing: it's the American way. But when it comes to shareholder lawsuits, it may be time to reconsider.Class-action shareholder suits remain a popular fixture in courts throughout the land, although they very rarely pay shareholders much of anything. Nor are they a stellar way to change a company's bad behavior.Some might argue the lawsuits serve as a deterrent to bad behavior. That's a hard sell: Because there are so many lawsuits, they carry little stigma. That shareholder suits will almost immediately follow a company's bad news is now a matter of custom. In the last few weeks, shareholders sued H&R Block Inc., Northfield Laboratories Inc. and Bausch & Lomb Inc., to name just a few.There were 182 federal securities fraud class actions in 2005, according to the Stanford Law School Securities Class Action Litigation Clearinghouse, which keeps numbers in cooperation with Cornerstone Research, a consulting firm that does financial and economic analysis in commercial litigation.The suits are hardly a path to riches for shareholders. Consider Milberg Weiss Bershad Hynes & Lerach, the law firm that was lead or co-lead plaintiff in more than 50 percent of federal shareholder suits settled from 1997 to 2004.The firm's median settlement as a percentage of the estimated damages in each case was 3.7 percent, according to Cornerstone. Other firms didn't do much better: The median for the top 10 firms was also 3.8 percent.So, if you lost $10,000 when your stock declined and you proceeded to join a class-action sheparded into federal court by the biggest names in the field, you might get a whopping $380 when the case was settled.Except you won't.The lawyers customarily take one-third of the settlement.And who pays for the settlement? Maybe the company's insurer, so the company's rates go up, cutting into profits.Or maybe the company itself pays. That would be a vindication, unless you still own the stock, in which case, "You may be suing yourself, in a sense," said Cindy Ma, vice president of National Economic Research Associates Inc., an economic consulting firm that studies shareholder suits.Stanford just counts the federal suits. Another wave of suits can hit companies in state court. Do shareholders do better there?No.Robert B. Thompson and Randall S. Thomas, both law professors at Vanderbilt University Law School, studied 1,000 corporate ficuciary duty cases filed in Delaware state court between 1999 and 2000. Because of its laws favorable to business, Delaware is a popular state for companies to incorporate in.Of all the litigation at the state level, "the only real dollar recovery occurs in one subset: cases against controlling shareholders who squeeze out the public shareholders at too low a price," Thompson said.Even those cases have a lottery-like element to them. Litigation is brought in about 150 such cases a year; cash recovery occurs about 20 percent of the time. Still, the settlements in these cases count for roughly 80 percent of all state-court corporate law settlements.As Cindy Ma sees it, "There has to be a better way to prevent fraudulent activity." Copyright © 2006 The Associated Press. All rights reserved.
Rocky just posted some interesting information on his board.--------------------------Globetel is now listed as a partner on the FSS(Indian Financial Processor)website. http://www.fss.co.in/partners.htm ACI Worldwide Globetel Comm. Integrated Research Hewlett-Packard IBM Sun Microsystems ATM Vendors: NCR Corporation, Diebold International and Wincor-Nixdorf. POS Vendors: Verifone, Ingenico, Lipman, Hypercom and Schlumberger (Axalto).----------------------------On February 23rd GTE made application for a new Mark(symbol) through the Madrid Protocol Process. The new Mark represents the description below. telecommunications services, namely, personal communication services, wireless cable television transmission services, and wireless cellular telephone services Mark is registered to following countries: China Japan Morocco Russian Federation Ukraine Also filed under the EM (European Member States- list of countries linked below) http://europa.eu.int/abc/governments/index_en.htm To view application and new Mark, go here and type in Globetel. The following are already trademarked. Globetel, MagicMoney and Stratellite. http://www.wipo.int/ipdl/en/search/madrid/search-simp.jsp
"Fair value" at $2.40? .......The latest blog from Mr. Upside Surprise. http://www.upsidesurprise.com/
E-mails are no different than phone calls. If MAILMAN, or anyone else, were to call Tim Huff, their conversation (and the information exchanged) would be privy to no one else. Huff could be telling the caller everything from the weather in Florida, to what's in the next PR (which, of course, would be inside information). The openess of re-posting their "conversation" via a message board lets others "hear" what was said, something that's both harmless and convenient for everyone involved. An IR person is fine, but no one knows more about a company than the CEO, so if the man has a few extra minutes he can share, there's no other person I'd rather hear from. Extra minutes, you say? Please stop with the idiotic notion that a person, regardless of his/her profession, has no "extra minutes" in a day to spare. We all take breaks, whether it's the President of the US, or a street sweeper. If Tim Huff wants to clear up some issues with shareholders while he's having a coffee break, GREAT! A re-posted e-mail via a popular message board is an easy way to accomplish this. Sure, not everyone reads these boards, but if it's not inside info, this is much more shareholder-friendly than a phone call, where only two people share the conversation. If you don't care what Tim is telling someone in a private phone conversation, why in the hell would you be bothered by a posted e-mail? Authenticity of the e-mail? If you're worried about authenticity issues, what are you doing reading message boards? Bottom line, if you don't trust Huff (afterall, he could be giving out inside info over the phone at this very minute), you're a buffoon to be invested in GlobeTel..........A brief opinion on the "uproar" over the delay in the Russian/GTE transaction: I don't get it. I've owned stock in this company for 7 years, and to this date, my money has appreciated over 700%. Someone, my friends, is doing something right, and it all starts at the top. Regardless of the Russian deal, GlobeTel has never been in better shape. Despite showing he's human, at times, Tim Huff has built GTE into a real player in this industry. And with any luck at all, the best is yet to come. Enjoy the ride, for gawd sake.
SEBASS, I remember when you briefly took over as moderater of this board from Rocky. You seemed to be someone who was far too emotional and mentally high-strung for the job. Your subsequent posts on this board from that time period till now have only served to cement my opinion......you're in way over your head when it comes to investing in the stock market. IMO, you run too hot-and-cold with your expectations, and your emotions blind you to the simple realities of investing (scared money will ALWAYS lose). It's analogous to buying a successful restaurant, then spending all your time in the kitchen looking over the chef's shoulder. It's amazing to me how so many people (yep, I'm not just picking on you, SEBASS LOL) worry about every little thing that happens once they've decided to invest in a company. I'm not preaching blind-trust, but somewhere along the way, you have to become a believer, then step back, relax, and let those in charge run the business. If the "believer" part never happens, then your money belongs somewhere else. I wrote the following last summer in a post on RB....... By: andtheretheygo 18 Jul 2005, 03:01 AM EDTMsg. 45706 of 127316(This msg. is a reply to 45692 by jamesssss.)Jump to msg. # Over the last 6+ years, only a fool and an idiot would whine and moan about the history of ADGI/GTEL/GTE. When I invested $8000 of my money into ADGI back in 1999, I was able to purchase 400,000 shares (400,000 X $.02 = $8000). If I had left those shares untouched, had gone on a 6 year vacation to a far away tropical island with no internet or phone access (i.e. no message boards or stock quotes to read or hear), then returned this evening to American civilization, I would find that my 400,000 shares of ADGI, once worth $8000, were now 26,000+ shares of GTE worth over $61,300 (that figure was as of last July. As of 1/24/06, the numbers are just under $88,000). Try leaving $8000 in a bank for 6 years. LOL I also would find a company minus Hinton, but plus Huff.....a company growing both revenues and number of employees.....a Stratellite project that is immensely intriguing.......and guidance suggesting that profitability is soon-to-come. Hmmm, I'd say that overall I'd be one, very happy and suntanned, ADGI/GTEL/GTE investor. A $53,000+ profit (as of 1/24/06, an $80,000+ profit in 7 years) in 6+ years, and 26,000+ shares in a company that is still "alive and kicking", with potential for further pps appreciation, is something only that proverbial "fool and idiot" would be whining and moaning about.........SEBASS, how could GTE be such a great investment for me, and such a tortured one for yourself? Maybe you should try the tropical island method in the future.
Within the following article there's some brief mention of the "Global Hawk", an unmanned bird that flys around 65,000 feet. Interesting stuff. Too bad that wasn't the "GlobeTel Hawk". On second thought,,,,,,? :) http://www.msnbc.msn.com/id/10966809/site/newsweek
Wireless Race Heats Up in Russia http://ragingbull.lycos.com/mboard/boards.cgi?board=GTE&read=122009
followingte, here are your answers. "While I am happy to see this stock go up I have to ask why?"......GTE's pps has been going up because more people have been buying GTE stock than selling it. Why have these people been buying GTE stock? You'll have to ask them. "With the potential dilution of a possible 10 million more shares hitting the market what will be the effect?"......The effect will be a continued rise in the price if more people buy GTE stock than sell it........All of your other questions can be fully and completely answered by the passing of time (patience), and by reading all past, current, and future GTE SEC filings and press releases. See how easy that was? Now you can go play with your Tonka Toys, and relax.......From an equally very open and concerned (about making money) shareholder (BTW, since I have 5x the number of shares you have, I figure I'm 5x more concerned) Ciao
"Promises"? There's been recent mention of so-called "promises" made by Huff, and GlobeTel, in previous PRs. Maybe I'm reading different PRs than some of the others here are reading, but I've NEVER read the words "I promise" in ANY PR issued by GTE. Please show me where Huff stated "I promise" while communicating with shareholders via company PRs? What Huff and the company have done is state goals that they hoped could be achieved. This gives shareholders a reasonable "picture" of what the company hopes to accomplish, both short and long term, while at the same time letting them (shareholders) decide if these "goals" are indeed attainable. If you believe, you buy (hold), if not, you sell (or simply pass). To start interpreting "goals and guidance" as promises is pure folly, and will almost assuredly lead to disappointment in your investing expectations.
BTW, "Their 10Q for Q3" was obviously incorrect. Stay tuned for Q2.
From the jungles of YaHOOOOOOO....... Re: MOST INFOMATIVE POST THIS WEEK.by: the2andonly 08/04/05 10:13 pmMsg: 6650 of 6687 RUN FOR THE EXITS AS FAST AS YOU CAN!!! SCAM!!!!!!!!! SELL SELL SELL SELL!!!!!!!!! LMAO Stock message boards are hilarious, in a "sick" sort of way, given what's written by the obvious combination of investors who are either misinformed and/or "convictionless", and those who will say/write ANYTHING to try and make a quick buck by attempting to influence others. The NY Post article was jumped all over by the pack of drooling, anti-GTE hyeannas, yet it was a garbled mess of misleading paragraphs, which I alluded to the other day........"The article written in the NY Post is a perfect example of writing a story to fit the perception that most "penny stocks" are scams. I've been a GTE shareholder since 1999, and I found the whole piece to be extremely misleading. The author jumped on the Columbia Stratellite PR, but ignored an earlier PR from GTE http://biz.yahoo.com/bw/050712/125839.html?.v=1 that announced Stratellite deployment in other areas of the world. Why? Obviously because the Columbian jungles sounds "scammier" than the aforementioned PR that associates some well respected businessmen with GlobeTel. His reference to Paul Taboada was also misleading. Back in 2002 when Hornblower and Weeks was sanctioned, the Enron scandal was fresh copy, and many brokerages were coming under fire as the SEC looked to restore investor confidence. If you look back at Taboada's report on GTE (ADGI at the time), and compare it to the current state of the company, it was actually quite accurate.".......Stock Patrol's piece about ADGI was 3 years ago, and there was never a follow-up story written. Why? Because there was never anything more to write about, at least from Stock Patrol's perspective. ADGI became GTEL, GTEL became a Delaware corporation, and all related filings were cleared by the SEC.......GTE's shareholder meeting is next week, and their 10Q for Q3 will likely be released during the week. If you're expecting a positive SHM, and an equally positive 10Q report, our thinking is similar. If you believe that holding GTE for the next 12 months will make you $$$, we again are on the same page. However, if you're biting your nails, sweating, twitching uncontrollably, and generally in a tizzy over what you read on this, or any other message board, you're on your own, and ALL messed-up. Ciao Posted as a reply to: Msg 6630 by texaspaulster Copyright © 2005 Yahoo!
KarlH, your memory has failed you a bit. You stated, "Remember prior to the Strat project this stock was languishing at 5-6 cents." The Sanswire sale to GlobeTel was announced on March 25, 2004. Approximately 3 weeks earlier (March 1, '04), GlobeTel's pps closed at .16, or a post split adjusted $2.40. So, who needs the Strat project? We're down a dime since the announcement. LOL
SEBASS, you're obviously in an irritated state-of-mind when it comes to management, and much of that, IMO, has to do with the depressed pps since the reverse split. I'm quite sure you wouldn't be complaining if GTE was asking for your vote to increase the AS back to 1.5 billion if the current pps was at, say, $10? Personally, the value of my shares has dropped over $34,000 since GTE reversed, and became listed on the AMEX, but I still believe in the management team, and the potential for much more growth in this company still exists, IMO. Back to management, this is from a follow-up post I made tonight on Yahoo........by: the2andonly 07/19/05 11:22 pmMsg: 3181 of 3192 If management does a good job then my investment will be a money-making investment, and over the last 6+ years, management has done a good job, PERIOD. I don't worry about how much money Huff and Co. are making, or will make, I'm only worried about my ROI. I know nothing about running a telecommunications company, and I have no desire to start making GTE corporate related decisions now. The moment I no longer have confidence in GTE management, then I'll quickly sell my shares and move on. That day, 6+ years and counting, has yet to come. They want my vote, and they've got it. And they'll continue to get my vote(s) as long as the company continues to grow and prosper. As the saying goes, "Don't tell me how to run my business, and I won't try and tell you how to run yours." And it makes investing a lot less complicated...........SEBASS, my mindset as it pertains to GTE is much different than yours, but in the end we all want the same thing, and that's to make money with our (GTE) investment. Good luck.
"VOTE NO or watch the stock price dip lower." SEBASS, your premise that shares added to the OS decreases the pps, thereby "diluting", or decreasing, the overall worth of your investment in GTE, is more perception than reality. I just posted the following on Yahoo, and as I'm sure you can guess, I'm voting "Yes" for more of that wonderful "dilution". LOL.........by: the2andonly 07/19/05 09:35 pmMsg: 3175 of 3177 Please, spare me from anymore nonsense about the increased AS diluting your/ANYONE'S investment in GTE! I posted the following the other day on RB's GTE board..... http://ragingbull.lycos.com/mboard/boards.cgi?board=GTE&read=45706 While statistically there's a dilutive effect (EPS) whenever the OS/float increases, the reality of the matter is that the subject of stock dilution is one of the most overblown and meaningless topics on message boards near-and-far. When any publicly traded company shows progress, and potential for further growth in the future, the pps will always react favorably over time, regardless of the size of the OS. And whenever "hot" news breaks, investors don't stop and worry about the market cap, they just start buying like everyone else, figuring as long as they can sell for more than what they're paying, the stock is worth buying at whatever the price. Anyone who argues that over the longer term the "dilutive effect" will be reflected on your monthly brokerage statements (i.e. declining value of your investment) need only read my RB post to see that the size of a company's OS/float can be largely irrelevent as it pertains to making a successful investment. As posted, ADGI's OS was about 250MM when I invested in the company. Six years, and approximately some EIGHT HUNDRED MILLION (800MM) SHARES later, with an OS of over 1 BILLION shares, my investment had INCREASED by over $86,000 (opening post split price of $3.62 X 26,000 shares minus intial $8,000 investment)! And now, going forward, just like the previous six years, my investment will either prosper or decline depending on management's competence, vision (foresight), and hard work. Dilution? The only time I worry about that is when I'm cooking (more/less liquid?). LOL Copyright © 2005 Yahoo! Inc. All rights reserved.
AMEX trading ........Bob, I've held shares in ADGI/GTEL since early 1999, so I understand your excitement with regards to Globetel finally exiting the OTCBB. However, while the AMEX will eliminate a lot of the OTC "funny business", it might not be as "exciting", especially for the posters who have been sitting on these boards throughout each trading day, watching and posting about each and every trade. Remember, now that GTE will be trading in the dollars instead of pennies, each trade will involve a higher level of capital. It will now cost $36,000 to buy 10,000 shares, whereas last Friday the cost to buy the same number of shares was only $2400. In other words, the volume will be MUCH lighter on an average, everyday basis, which equates to far fewer trades. The bid/ask spread will also obviously change. If the opening b/a reflects Friday's closing b/a, for example, you'd be looking at bid $3.58/ask $3.63. That's five cents, instead of 3/10's of a penny. Don't be surprised to see a much larger b/a spread than that, at times. Overall, change is good, especially when it comes to moving from the OTCBB to a higher exchange, but I think you'll also see that it's a bit more "boring" from a day-to-day perspective. If a person is long term, and doesn't sit glued to their trading screens Mon-Fri, I'm sure they won't have any problems with the tradeoff. Good luck, and go GTE!
Rocky, good to see you back. The last time we "spoke", you were on your way out as board moderator. Since then, I haven't read too many messages on either RB or here, so excuse the late "welcome back". I decided to peruse the board this morning to see how many "investors" were searching for razor blades after yesterday's drop in price. LOL It never ceases to amaze how so many are influenced by daily pps fluctuations. Yesterday, GTEL closed at .23, but only two weeks ago (March 29), GTEL traded at that same exact price. Yet, after reading some 200 posts this AM, a number of "investors" act as if the stock is in a freefall, even selling their position in the company. The more telling numbers show that the pps is still at more than double the price from the first of the year. In other words, I'm very happy this morning. My shares continue to appreciate in value over the longer term. The Stratellite project is still in progress, with many highly qualified people hard at work on it's hoped-for ultimate success. The company's revenues, totally unrelated to anything called "Sanswire One", or "Stratellite", continue to grow ($11MM in '03 to $29MM in '04), and the prospects for further revenue growth, as well as eventual company profitability, still appear promising (Q1 10Q due shortly). The CEO (Huff) still comes across as hard working, determined, extremely prideful of the company's heretofore accomplishments, and, at times, irrationally exuberant. Since the latter trait can derive from the other aforementioned perceived qualities, I can excuse the fact that his PR statements are, at times, too overly optimistic, especially since my investment in GTEL isn't based on hourly, daily, or even monthly, pps figures, OR, on any one specific press release. As it's always been for me, dating back to my first purchase of ADGI shares in February of 1999, as long as the overall goal of management appears to be towards increasing shareholder value for the longer term, and as long as that goal appears to be a successful work-in-progress, I will continue to remain a content and satisfied shareholder. In that regard, April of '05 is no different than February of '99 for yours truly........BTW, thanks to everyone who attended Tuesday's meeting for expressing your thoughts, and for passing along those photos. Rock, have a good one. Steve