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Nerd, do you really believe the SEC would have that much influence On a compaNy if it wasn't possibly hiding Something. The SEC is not in charge of Globetel's books. It is Globetel who made the books not the SEC. You had stock in a company that has had many SEC investigations and it never held the share price or the company down. They are executing before and during the investigations and the SEC is only considered a distraction. (Company in bold letters)
"Please cite for the board what they did that didn't work"
That is easy, no need to have to provide the nature of the service that didn't work when nothing has worked period. No matter what they did it has not been a good strategy nor has it been very sucessful. Can you name anything Globetel has been done since 2003 that is or was sucessful?
If the recommended strategy was for anything to do with Magic Money, Voip, obtaining customers, joint ventures nothing worked out. Now if it was for Centerline that would be a different story...they may have showed them how to grow revenues and not worry about profits.
From the record of success ICS had with Globetel would you hire this firm?
Why didn't Globetel ever mention privious work done by Peter Khoury/ICS? Yet they mention Przemyslaw Kostro.
http://businessweek.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?SessionID=QN30juNdQ....
Now he may have set up a very successful strategy for the likes of some of the former BOD, hedge funds and partners. Maybe the SEC will be able to find that out. I don't know.
Just curious about Khoury being Australian, having a company in England and working in the US. Just trying to tie up what all this might mean with past Globetel's connections....I can't connect anything.
Peter Khoury, had ties with Globetel in the past.
Globe Tel - US/Miami
April 2003: ICS has been appointed by the executive board of GlobeTel to provide board support and strategy for the organisation. The initiatives will assess the current capability of GlobeTel and look to position the organisation within global communications market with recommendations of market entry and products and services.
http://www.ics-uk.com/ICS/English/News%20Latest/englishNewsApr03.htm
http://www.zoominfo.com/Search/PersonDetail.aspx?PersonID=53281290
His company didn't do a good job the first time.
Hoovers description of Globetel, anyone know how old this is:
Company Description for GTEM: Related Resources
101 NE 3rd Ave., Ste. 1500
Fort Lauderdale, FL 33301
http://www.globetel.net
Phone: 954-332-3752
Fax: 954-332-3738
·Company Summary
·Institutional Ownership
·Event Calendar
·Insider Trades
Industry: Data Network Operators Sector: UTILITY
GlobeTel Communications is thinking big -- really big. The company is working to roll out a global Voice over Internet Protocol (VoIP) network with regional nodes it calls Super Hubs that will connect directly to points of presence (POPs) in the US. GlobeTel's Sanswire Networks subsidiary is developing airship "stratellites" (they're positioned in the stratosphere) to enable the Super Hub network with wireless broadband technology. In the meantime, the company provides a variety of telecommunications services, including a VoIP service called MagicPhone, marketed primarily in Mexico. It also resells international long-distance service and provides stored value debit cards.
2005 Sales: 1 Yr. Sales Growth: 2005 Net Income: 2005 Employees:
+81,100,000 +179.80% -32,000,000 65
"Otherwise, you're suggesting that the SEC is letting bogus documents be filed and that the Peraltas are permitting a U.S. company to report pilot tests, JV's and contracts which are totally false."
You mean like they have been doing over the years. If that has been their pattern over the years, then it would be almost too obvious to change just because the SEC is watching. It's almost like an admission of guilt
GlobeTel Communications Launches Travelex Money Remittance Service
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 17, 2006--GlobeTel Communications Corp. (AMEX:GTE) announced that it has launched its money remittance service program offered in conjunction with Travelex Currency Services, Inc., as previously planned. GlobeTel's technology has been deployed to enable remittance functions through Fidelity Express, a national leader in money order generation and walk-in bill payment solutions with a growing merchant base of more than 5,000 locations in 22 states.
Fidelity Express accepts payments through authorized retailers, primarily supermarkets and convenience stores, on behalf of utility companies such as Reliant Energy, TXU, Verizon, Atmos Energy, Westar Energy, Alabama Gas Company, Centerpoint Energy, Garland Power and Light, AquaSource, Northland Cable TV, Vycera Communications; municipalities such as City of Lake Worth, FL, City of Lakeland, FL, City of Atlanta, GA, City of Dallas Water; and government services such as Texas Child Support.
"Fidelity Express' locations provide an excellent built-in money transfer agent network for our state-of-the-art technology, which is part of the Travelex Money Transfer program," stated Timothy Huff, CEO of GlobeTel. "The rollout of our remittance technology helps Fidelity Express retain its leadership position in this fast-growing segment of commerce. Creating a one-stop shopping experience for our customers is consistent with the GlobeTel mission of providing unmatched expediency and convenience for anyone, anywhere at any time. This consistency follows through from our communications platforms and delivery systems to our remittance technologies."
Pat Odom, Division Manager of Fidelity Express, added, "Offering money remittance adds a product to our services that exactly meets the needs of many of our current customers and will attract many new customers to Fidelity Express locations, further increasing customer traffic and generating additional revenue for our retailers. Money orders, in-person bill payment and other Point Of Sale financial services offer a valuable service to consumers, while at the same time help to increase customer traffic and generate additional revenue for our retailers. Industry reports indicate that at least 20 percent of the U.S. population pays its bills in person in retail locations around the country. One of our payment location providers, the second largest supermarket chain in North America, reports 66 percent of all people who come into its stores to pay their bills buy something."
http://investor.globetel.net/phoenix.zhtml?c=67726&p=irol-newsArticle&ID=843373&highligh....
or this: http://www.globetel.net/about/letter033106.html
Not really... it's the reasons why they got delisted from the AMEX and the SEC, which makes everything about this company not creditable. It has turned to a company who's execution has failed to a company that has to prove they can do it before there is any interest again.
"If Lockheed's CEO commented about a deal with us in a PR..it would seem pretty credible to me"
I agree, if it came from a PR from Lockheed and not just Globetel. Weren't you the one who asked about the Delta Aero relationship and couldn't get a straight answer at the shareholders meeting.
Look at it this way,
If Lockheed ....or if Peraltas, Grupo IUSA/VPN mentioned Globetel in a news release. That would have alot of credibility.
If Globetel mentioned Lockheed or Peraltas, Grupo IUSA/VPN what's your thoughts for credibility ?????
Now you have the reason the stock shows very little movement or interest.
Has there been a press release from Grupo IUSA/VPN which mentioned Globetel?
'Unexamined acceptance'
That was a Globetel press release.
When Globetel puts this in their 10Q, they could tell anyone anything, true or otherwise. Yet you state. "Only what is reported in a 10Q is what counts for me."
Words or phrases such as
"believe", "plan", "will likely result", "expect", "intend", "will continue",
"is anticipated", "estimate", "project", "may", "could", "would", "should" and
similar expressions are intended to identify forward-looking statements. These
statements, and any other statements that are not historical facts, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995,
http://sec.edgar-online.com/2006/08/14/0001144204-06-033471/Section2.asp
Could be all smoke and mirrors. Until they show some money it could be just another Russian fiasco.
"It isn't about right and wrong, it is about being in business to do business."
That is what we really need to know are they in business to do business. They have yet to prove it, since Huff was CEO.
If there is a settlement for the plaintiffs and you bought shares during the specified period of the class action lawsuit can a person be able to share in on the award even if they made money on the stock during that time frame?
I realize it won't be much after the court expenses, but if the money is not claimed by shareholders of the stock, who would get it?
sirius "VPN de Mexico is paying GTEM cost PLUS for the Hotzone technology."
Are they paying GTEM 100% of the cost plus or VPN/No Mas 51% portion of the joint venture?
LOL! You read that on a message board and you believe it?
"GTEM has a very nice office in their new headquarters and advised sharklady not to believe anything she read on the message boards"
futuristic4stocks, I previously posted a good link that could answer many questions about the length of time etc. of an SEC investigation. I am posting it again if you have not read it Without an internal investigation committee it could take a very long time. Worth the read:
http://www.allbusiness.com/finance-insurance/288977-1.html
Risk, Those were the words this company used in the 8K sort of like a disclaimer. They probably want to protect themselves in case something else comes up. I guess you can't get a straight answer from any company nowadays.
Now that's a good question, I cannot answer.
SEC investigation took over a year for this company (name withheld so post won't be deleted) with 76 million in sales to finish, at a cost of 2.1 million. Just got this notification in my email, this is just what Globetel needs right now. This company DID release earnings in Jan. before the SEC investigation ended.
Item 7.01. Regulation FD Disclosure.
On April 2, 2007, xxxxxxxx received written notification from the staff of the Securities and Exchange Commission (SEC) that the SEC's investigation in connection with xxxxxx accounting review of a series of contractual arrangements with a certain customer has been terminated and no enforcement action has been recommended at this time. The decision of the SEC to terminate the investigation is not a finding or judgment regarding the matters investigated, and should not be construed that the parties have been exonerated or that no action may ultimately result from the SEC's investigation of the matter.
--------------------------------------------------------------------------------
3/1/06 xxxxxxx: SEC has issued formal order of investigation
http://www.pinksheets.com/quote/filings.jsp?symbol=TERN
Bank of America has a $20.00 target. Latest News.
Dendreon Stock Jump Reflects
Optimism About Cancer Drug
By GEORGE STAHL
March 30, 2007 11:49 a.m.
Dendreon Corp.'s share price surged Friday after a Food and Drug Administration advisory panel recommended the agency approve the company's proposed prostate-cancer treatment.
The gain reflects optimism about the Seattle company's new cancer treatment -- for which some project world-wide sales of more than $1 billion. Many investors had doubted the treatment's chances for approval; according to FactSet Research, 33% of the company's float was sold to short sellers, who buy stock on the expectation it will fall.
Dendreon's Provenge has provoked much debate in the medical and investment community, with some questioning the strength of the data and the treatment's merits. The panel's recommendation, however, appears to reflect physician interest in the novel therapy, which spurs a person's immune system to fight the cancer. Current treatments attack the cancer cells directly.
In late-morning trading, Dendreon shares were up $8.36 at $13.58 on the Nasdaq Stock Market. Trading in the stock had been halted Thursday during the panel hearing. The stock rose as high as $19.40 before the opening bell Friday.
The FDA panel unanimously said Dendreon's Provenge was safe. It also said the FDA should consider approving Provenge despite two clinical studies showing it didn't meet study goals. The Provenge studies showed the treatment failed to meet a goal of reducing so-called time to progression, or the advancement, of cancer.
However, a subsequent analysis of one of the studies, which involved 127 men, showed those receiving Provenge lived about 4.5 months longer than men not receiving the treatment. Most panel members said that survival data suggest that the treatment might work.
Some panel members said the FDA should require the company to complete a larger ongoing study of Provenge to demonstrate whether the therapy really works, while others suggested the product be allowed on the market on a limited basis until final data from that trial are released in 2010.
The FDA usually follows the advice of its expert committees but isn't bound by them. An FDA action on Dendreon's Provenge is expected by May 15.
Momentum for Immunotherapy
Banc of America analyst William Ho, who raised his price target on Dendreon to $20, wrote in a research note that the panel's actions reflect the momentum at the FDA behind cancer immunotherapy and the agency's desire to see that type of product approved.
The FDA's presumed openness to cancer immunotherapy is also lifting shares of Biomira Inc., a small Canadian biotech that also specializes in this area. Biomira shares recently traded at $1.21, up 15% from their close Thursday. Other biotechs developing related drugs saw their stocks move, including Cell Genesys Inc., up 28% at $4.48; Favrille Inc., up 16% at $3.03; Genitope Corp., up 12% at $4.16; and Antigenics Inc., up 15% at $2.27.
Despite the panel's recommendation, Mr. Ho remains cautious on Dendreon's stock. "We believe the stock should trade well [before the FDA acts in May], but longer term, without scientific rigor, we are maintaining our 'neutral' rating given the uncertainties surrounding the statistical significance of the survival efficacy signal."
Mr. Ho estimates Provenge could generate peak U.S. sales of $630 million and world-wide sales of almost $1.1 billion in 2011 before succumbing to competition from new products. He estimates Provenge could sell at $37,500 per course, or a 25% discount to what appears to be the threshold for Genentech Inc.'s Avastin.
In an interview Friday on CNBC, Dendreon Chief Executive Mitchell Gold said the company had an adequately sized sales force to market Provenge in the U.S. but that it would be open to an international partner.
Dendreon has a lot riding on Provenge. The company has no products currently on the market, and Provenge is the furthest along in development. The company has earlier-stage studies under way of proposed experimental immunotherapies to treat cancers of the breast, ovaries and colon.
Because of Dendreon's heavy reliance on Provenge and the doubts about its ability to reach the market, the stock attracted a lot of short interest, pressuring the company's share price. Investors who "short" shares borrow and then sell them, betting that the price will fall and that they will be able to buy back the shares later at a lower price for return to the lender.
The rush by investors to cover their short positions are adding to Dendreon's gains Friday. The stock is at levels not seen since late 2000, shortly after the company's initial public offering. The stock's all-time high is $26.63 a share, hit in September 2000, three months after the IPO.
New Class
Provenge may be the first of a new class of "active-cellular immunotherapies," according to Dendreon. These are designed to stimulate a person's immune system to fight a disease such as cancer.
Provenge is considered a therapeutic vaccine that is made using a patient's own white blood cells -- combining them with a protein and infusing this back into a person. Existing therapies are aimed at killing cancer cells or choking off blood supply and other proteins involved in cancer growth.
Dendreon had asked the FDA to approve Provenge to treat men with advanced prostate cancer who stopped responding to hormone therapy.
The FDA agreed with Dendreon that Provenge was "generally well-tolerated," with the most prominent side effects being fevers, chills and fatigue. However, the FDA said it was concerned about an increased number of strokes among patients treated with Provenge compared with patients who didn't receive the treatment.
The only other treatment for advanced prostate cancer that has been shown to improve overall survival is Taxotere, a chemotherapy drug from Sanofi-Aventis. Chemotherapy drugs often have significant side effects, including nausea, vomiting, anemia and infection.
An estimated 218,890 new cases of prostate cancer will be diagnosed in the U.S. in 2007. Prostate cancer will result in 27,050 deaths this year in the U.S. More than 65% of all prostate-cancer cases are diagnosed in men 65 and up.
--Jennifer Corbett Dooren and Peter Loftus contributed to this article.
Write to George Stahl at george.stahl@dowjones.com
Nice call Orlander, glad to see a Globetel'er (past or present) make it. Wish it was me to.
Previously Posted by: rocky301
In reply to: villas who wrote msg# 68794 Date:3/22/2007 9:35:09 PM
Post #of 69650
villas,
Reporting company--means a company that is obligated to file periodic reports with the Securities and Exchange Commission under section 15(d) or 13(a) of the Exchange Act.
Globetel is definitely a "reporting company" and is obligated to file periodic reports(q's and k's). Because we have delayed filing 3rd qtr 2006 does not make Globetel a non reporting Company.
Globetel would have to meet one of the following criteria to be exempt or suspended from duty of filing said reports.
Rule 12h-3 -- Suspension of Duty to File Reports under Section 15(d)
http://www.law.uc.edu/CCL/34ActRls/rule12h-3.html
You ask, What is you're opinion on the possibility that GTEM just decides not to report and how does that really impact the current situation as we are now on the pinks?
Not being a reporting company would not allow Globetel to
a)solicit certain financing like the private placements we have done and needed many times
b)no acquistions could be made with stock
c)When you are a reporting company and file with SEC, information about your company is made available to the public. Having a means to get information about your business, helps the public evaluate whether or not they want to buy your stock.
d) any intentions of moving up the ladder to the OTC require a
a Company to be reporting.
Let me put it this way, if Globetel were to announce they were no longer reporting I would be gone the second I read it. It is vital for transparency, disclosure and all the things necessary to move forward again. Filings can be wrong but I will take them over nothing any day.
You said, "Many companies on the pinks do not report."
You are right, they are not required to. I know of many companies who have traded for years on the pinks and have never filed one report to the SEC. You cannot find one thing out about financials or anything else in most cases...on the other hand, if a company was fully reporting and no longer files with the SEC as a pink sheet then I would suggest they met the criteria in the link I provided you above.
Note: I have e-mailed the SEC recently and asked what transpires if a company does not meet the criteria from link above and yet does not report for whatever reason whether it is lack of monies to file etc; They almost always call within a few days with an answer or refer me to another department. Will definitely share what I find out in that regard.
http://www.investorshub.com/boards/read_msg.asp?message_id=18136306
Let me twist this to good news.
McKean, Paul, Chrycy, Fletcher & Co, were appointed in Jan. They did no work...Globetel saved money not paying them and can just leave the job to the SEC, they will do the audit for free.
Thanks Frank for making this board. Tomorrow I am going to try to grab PGSW for .68 and sell for .76. I'd love to recommend a good long term stock but not my trading style. My long term stocks are in Mutual Funds and I am almost ready to shift into high yield interest. I personally don't believe the stock market will hold up much longer.
I posted about my broker where I pay no commission on buys or sells on the other board and the posts were deleted. I just love the convenient's of having a checking, savings and Brokerage account with Bank of America. So far everything has gone flawless and never had a problem purchasing any stock. A daytraders dream. My goal isn't to get rich, just to make money and have fun doing it. I recently had a string of 48 successful trades broken. I am going to try very hard to break that record even if it is only a 2-3% profit. For me this is a real challenge and more fun then just watching a few stocks.
I predict this will be the future for Globetel and its past and present management. The IRS is going to crack down on this in 2007.
Next for Globetel the IRS
Disguised Corporate Ownership
Domestic shell corporations and other entities are being formed and operated in certain states for the purpose of disguising the ownership of the business or financial activity. Once formed, these anonymous entities can be used to facilitate underreporting of income, non-filing of tax returns, listed transactions, money laundering, financial crimes and possibly terrorist financing.
"It's very doable. We're sure it's going to be happening," Murch said, "and in some way, we are going to be a part of it."
Not very encouraging, "Some Way" could mean anything such as retrieving the blimps of other companies, supplying Velcro, or just watching the launch done by another company.
Nothing seems to ever change with the Musical Chair Directors. From a past post.... nothing has changed.
Posted by: followingte
In reply to: doctorS who wrote msg# 10617 Date:12/27/2005 10:17:42 PM
Post #of 33711
Looking on the bright side you are right, looking on the darker side maybe Laina left because she has a lot of scruples and feels she wants no more of the PR to fluff the stock with no follow ups on why things are not happening as scheduled. Just maybe she feels the company is taking advantage of the shareholders just to keep the company going. There are always 2 sides of the story. Keep an open mind, many scams have happened over the last few years and this company has not proved anything but to be a dream. I would rather buy this stock at $6.00 a share with some proof of something good happening.
http://www.investorshub.com/boards/read_msg.asp?message_id=9024728 some interesting replies.
A HALL OF FAME POST!
I agree and the AMEX wording contained a broad range of wrong doings.
If you read the whole article you will see that Globetel has to give the SEC thier internal audit findings once an internal audit is done. Who knows if they completed it yet?
(PS Globetel dosn't have to give the findings but that could be very costly if they don't)
Vern, in a formal investigation the SEC has to give a reason to get it's foot in the door. The formal investigation is no easy task to close as it has to be signed off in Washington. It also means anything could be investigated.
"While the SEC staff, as a matter of practice, never identifies the "targets" of an investigation, every effort should be made to determine the investigation's nature and the corporation's role in it. The SEC staff handling the investigation should be asked to provide whatever information they are willing to share. Because a formal order of investigation describes an investigation in general terms, a copy of this order should be obtained as soon as possible."
Good read:
http://www.allbusiness.com/finance-insurance/288977-1.html
Sirus left out this little bit."among other things"
GlobeTel Announces SEC, Audit Committee Investigations, AMEX Delisting Decision
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 6, 2006--GlobeTel Communications Corp. (AMEX:GTE) today announced that it has learned that the Securities and Exchange Commission has issued a formal order of investigation concerning, among other things, certain accounting issues, including the treatment of certain acquisitions and the valuation of certain intangible assets.
http://investor.globetel.net/phoenix.zhtml?c=67726&p=irol-newsArticle&ID=913165&highligh...
Nerd, thank you for your honest down to earth neutral opinion.
If the obstacles you mention do turn out good, I tend to agree with you. The next few months will tell the story. Funny, I never thought you were a pumper....you just don't like bashers.
Just the opposite for me.
Nerd, no beating around the bush. What is your true opinion of this company and where do you think they are headed in the future?
Of course it was mainly for her Raytheon past, why else would Globetel come out with a PR mentioning Raytheon at the float test. It was to soften the blow of her resignation and show that she did help the company by getting them to make a demonstration. No other reason.
"the only reason for bringing her to the board was because of her Raytheon past, shareholders didn't buy this and now there is no need for her anymore."
Nerd, it is also possible the internal investagation was done, the plaintiffs received a copy presented it to the judge. Once the judge read it, felt there was no need for a verbal hearing. The internal investagation said it all.
How time consuming can it be to be a cyber BOD in a cyber office. Seems every director that has had a good reputation has resigned. And there were many!
"survival mode" Nerd, LOL you are right on that post.
Nerd, what do your comments have to do with what I quoted? Maybe you should re-read my post and read the link.