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"New" management completed on one of it's goals. They fulfilled this promise to the satisfaction to it's shareholders.
In Przemyslaw L. Kostro's letter to shareholders, he states, "priorities are to reduce our burn rate and to use our resources efficiently".
Baghdad Bob. Registered securities must report. That was discussed here many times, here are the links:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=18332261
http://investorshub.advfn.com/boards/read_msg.asp?message_id=18334397
Frank, does that mean the SEC won't turn the parties involved in this fiesco over to the justice department?
Your opinion please?
Justfrank, that was a great job of research. 5 STARS *****
Yes, I do think so.
http://www.sec.gov/litigation/litreleases/2007/lr20371.htm
last line states:
The Commission's investigation continues.
Well, Monterosso and Vargas are contesting it and are willing to go to trial.
http://www.sec.gov/litigation/litreleases/2008/lr20550.htm
Lynch consented to final judgment.
Huff consented to final judgment.
Jimenez??? Most likely all will be referred to the Justice Department.
I like this part:
By June 2004, GlobeTel owned a controlling stake of CGI's stock -73.15 percent of the outstanding stock- in return for which GlobeTel gave CGI millions of shares of GlobeTel stock. Three of CGI's four directors were Huff, GlobeTel's chairman, Przemyslaw Kostro, and another GlobeTel executive, Leigh Coleman. Huff and Coleman also had trading authority for CGI's brokerage account.
M. HUFF AND GLOBETEL CAUSED CGI TO MAKE UNREGISTERED SALES OF GLOBETEL STOCK WORTH MORE THAN $1.6 MILLION
And do you think Kostro didn't know about this? The Justice Department just has to find a way to lure him back to this country.
(off topic, do you remember Charles Manson. He was never tried of actually murdering anyone, but was convicted for life of being the mastermind.)
A formal investigation is not over until the SEC in Washington signs off. More will come. IMO
I could list many reasons why, but most people on this board think I'm a crackpot anyway. LOL
Who was really the brains behind Globetel?
I am waiting for these 2 names to come up on an SEC Litigation Release. Could be they are smart enough to avoid it.
Mr. Kostro has been an attorney engaged in international law.
Jonathan Leinwand, joined GlobeTel as General Counsel in June 2005 and became a director in 2005.
From the last 10-K/A
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5581286
Jonathan Leinwand, Chief Executive Officer and Director, joined GlobeTel as General Counsel in June 2005 and became a director in August 2005. He was appointed CEO in September 2007. Prior to joining GlobeTel, he was in private practice since 1996 concentrating in the areas of corporate and securities law, representing a number of public companies. As part of his practice, Mr. Leinwand also served as a deal-maker for several US and foreign corporations arranging strategic alliances and funding both in the US and abroad. Mr. Leinwand graduated from the University of Miami with honors degrees in Political Science and Communications and graduated cum laude from the University of Miami School Of Law.
Przemyslaw L. Kostro
Przemyslaw L. Kostro, Chairman, was first elected to the Board of Directors in November 2001. From November 2001 to April 2002, Mr.
Kostro also served as the CEO of GlobeTel before relinquishing the position to Timothy Huff. Over the past five years, Mr. Kostro has been an attorney engaged in international law, and has been providing professional and consulting services to several large and mid-sized entities in Europe. Mr. Kostro resigned as a Director in October 2005 and was reappointed as Director and Chairman of the Board in October 2006.
You were the guy asking about the Delta Aero deal and never got a straight answer.
"The Company wishes to thank its shareholders for their continued patience and understanding..." (from the last PR)
There was patience and understanding with the Sanswire unveiling.
There was patience and understanding with the Sanswire launch.
There was patience and understanding with the Russian Fiasco.
There was patience and understanding with the Mexican joint venture.
There was patience and understanding with the Centerline fraud.
There was patience and understanding with the SAC investigation.
There was patience and understanding with being suspended from the AMEX.
There was patience and understanding with the financial's not being complete on April 1st.
Now here it is 4:45 on April 30th, no financial's or PR made. Even if they do come out before the day is over, it's not a good way to treat patient, understanding and dedicated shareholders.
I am not a shareholder but truly my heart felt pain goes out to you....you people deserve better treatment....GOODLUCK!
Kevinoak you ask, "I wonder why someone would go to all the trouble to make a new pdf for the project dealing with Sanswire then?"
IMO the fluff wore out in the US and no one believes in this company anymore. Time to start the fluff in another part of this world. Quite a few stock exchanges to trade on in South America.
South American Stock Exchanges
Bermuda Stock Exchange, Bermuda
Rio de Janeiro Stock Exchange, Brazil
Sao Paulo Stock Exchange, Brazil
Cayman Islands Stock Exchange, Cayman Islands
Chile Electronic Stock Exchange, Chile
Santiago Stock Exchange, Chile
Bogota stock exchange, Colombia
Occidente Stock exchange, Colombia
Guayaquil Stock Exchange, Ecuador
Jamaica Stock Exchange, Jamaica
Nicaraguan Stock Exchange, Nicaragua
Lima Stock Exchange, Peru
Trinidad and Tobago Stock Exchange, Trinidad and Tobago
Caracas Stock Exchange, Venezuela
Venezuela Electronic Stock Exchange, Venezuela
Sanswire is mentioned.
Other past participants, such as Sanswire, were absent completely.
When you say shares of a new company owned by GTEM.
Gtem owned 100% of Sanswire, if what you say is correct, how can you say that's not dilution with 500 mil new shares added?
Maybe it would be a positive if they did the same thing to Hotzone and set up another company with 500 million authorized shares.
MM,You ask: i must be confused, why dilution?
Read PDF.
Article 1V,
Number of shares authorized to issue 500,000,000.
So even if they change names, there will be more shares authorized then they now have.
I also agree with your previous post: but most likely this is the way the merger with tao will be financed. gtem will own some of it, tao will own some , and somebody else will own some.
IMO, Globetel would be foolish not to give shareholders a new share for 10, 50, 100 or 1000 GTEM shares just to keep the cult like followers, which is the biggest asset they have.
Cole this could answer your question.
It appears to me that Huff & company are going back to the roots when Globetel was originally formed where they had an office in St Louis. Somewhere in the future "the good ole boys will reunite again", and start all over. I would like to know who were the three terminated employees were, are they back together with Network 1 again. Interesting and gets more interesting. A better question would be, could another scam be in the making?
NOTE 9 - GAIN ON DISPOSITION OF ASSETS
In June 2003, the Company ceased operations at its St. Louis, Missouri office.
As part of the termination agreement with the employees of the St. Louis office,
the employees were authorized to maintain and service the existing clients and
keep the property and equipment of that office, and the Company agreed to return
the customer deposits made by the St. Louis clients. The Company recorded a gain
of $34,365 in connection with these transactions.
Three terminated employee were issued a total of 1.2 million free-trading shares
of the Company's stock as severance pay. The Company charged $36,000 to expense
during the three months ended June 30, 2003, based on an amount equal to the
average bid and asked price of the Company's shares on the date of issuance.
http://www.secinfo.com/d11Cub.21.htm
"WHY WOULD OVER 1.6 MILLION SHARES BE COVERED IF GTEM WAS GOING BANKRUPT"
They covered to take the profit and move to short other stocks for bigger profit margins.
Simple answer to a simple question.
I have been looking for that report. Thanks.
My thinking is Kosko/Caterham isn't worried about that money invested in Globetel. They most likely have the controlling interest in the Stored Value Card aka Gotham Financial, Huff's Network 1 Communications and possibly Uli's Hotzone.
Kosko/Caterham has been providing money to Globetel to keep the doors open and his payback will be 50+% ownership of Globetel after filings are done or another creative arrangement. This would make Kosko/Caterham first on the list of creditors to be paid and a good way to get the 4 million from the Stored Value Card sale. Every other creditor in line get nothing. Why else aren't the bills being paid?
Caterham made all the money by shorting the stock and if Globetel goes under it never has to be reported because thier position was never closed out.
I think the Polish Sausage is the swindler who has prepared for this in the last year and half. One of these days these companies will all come together again under other names and possibly in other countries.
IMO of course time will tell...
I just wanted to get some honest answers from a resident in the know from O'Fallon, MO. Apparently Huff and the product is actually being sold and is on the level with the only problems being:
Your results may vary due to geographical situations and location within your home.
That means that if you live at the bottom of a hollow, and you’re trying to connect from your basement, you might lose some connectivity.
To quote Mr. Scott, “Ya canna change tha laws of physics, Cap’n.“
The only reported problems have been with “Acts of God”, like lightning strikes on high lines. .
Probably some of the reasons they are having problems in Mexico, and the Hotzone may not be good during wartime in places like Afghanistan.
IMO
SOME QUESTIONS & ANSWERS WORTH READING!
I made some inquiries into how well the O’Fallon Wireless service is going. If this is the same thing as Globetel is planing to use for the Armed Forces the problems in bold at the bottom of the page will have to be corrected. Read and decide.
Jim Says:
[ Wednesday - 26 March 2008 ] at 12:45:03
Any updates? How is this wireless network doing? Are they signing up customers? They say the whole city is now hooked up, is that true? Does it work without any flaws?
Thanks.
Scott E. Lee Says:
[ Wednesday - 26 March 2008 ] at 13:16:54
Honestly, Jim, I have no idea. My head has been wrapped around the whole Highland Terrace/King Arthur’s Court debacle.
But I will look into it by this weekend. I promise! I’d like to know more about it myself. If it’s going to be cheaper than my DSL, I’ll take it.
Jim Says:
[ Friday - 28 March 2008 ] at 18:52:31
Thanks Scott,
I appreciate any information tou can come up with.
Good Luck on your upcoming election.
Jim Says:
[ Saturday - 05 April 2008 ] at 08:39:53
Any updates on the wireless network yet?
Scott E. Lee Says:
[ Sunday - 06 April 2008 ] at 12:11:41
Actually, yes.
According to Mr. Mark O’Neil of O’Fallon Wireless (Network 1), all of O’Fallon is currently covered and services are available to all.
The first 30 days are free, and the prices are listed on the web site.
Standard: $19.95/month
Classic: $24.95/month
Premium: $49.95/month
With an additional setup fee of $45.00.
According to friends of mine, the service is just as advertised, and most technical problems are user related. Also, the system is available outside of O’Fallon where the signal leaks out of the City limits.
That’s what I have for now, I’ll call Mr. O’Neil on Monday to see what else I can find out.
O’Fallon Wireless Covers “Most” Of The City
Posted by Scott E. Lee on [ Monday - 07 April 2008 ]
I just got off the phone with Mr. Mark O’Neil of ofallonwireless (Network 1). I got all of the information I think you’ve been asking about since I first brought it up. According to Mr. O’Neil:
All of O’Fallon is covered except for some areas at the extreme south end of town (say south of 40)
The different prices are for different speeds:
Standard: $19.95/month for 1 meg srevice
Classic: $24.95/month for 3 meg service
Premium: $49.95/month for 6 meg service
All service levels have a set-up fee of $45.00 and that includes a desktop USB wireless receiver.
Your results may vary due to geographical situations and location within your home.
That means that if you live at the bottom of a hollow, and you’re trying to connect from your basement, you might lose some connectivity.
To quote Mr. Scott, “Ya canna change tha laws of physics, Cap’n.“
The only reported problems have been with “Acts of God”, like lightning strikes on high lines.
If you’re close to the borders of O’Fallon and you can receive a signal, you can sign up.
Network 1 is also going in in other local municipalities and they will be rolling out a new web site under the moniker Network 1 Wireless.
Works with Windows and OSX
If you are interested in signing up, or if you have any questions, call Mr. O’Neil at O’Fallon Wireless: 636-614-1364, or visit their web site: https://www.ofallonwireless.com/Payment/?Portal=Ofallon
A little refresher from the past. Almost brings tears. Jail Time?
Dear Fellow Shareholders:
I am constantly asked by my friends and colleagues: �What is GlobeTel?�� If you happen to be one of GlobeTel�s more than 37,000 long-standing shareholders �many of whom exhibit an almost cult-like dedication to the company� this probably sounds like a silly question. In fact, as the new Chairman of GlobeTel, I must confess that I spent more than a year attempting to get my arms around the many technology and business strategy nuances which are really critical to understanding this vibrant, outside-the-box company. Indeed, it is GlobeTel�s �mining� of these very nuances which is allowing it to break virtually all the rules of traditional telephony, while creating new wireless paradigms which will re-define digital communications in the immediate future.
For the many thousands of you who have closely followed the evolution of the company over the past three years� we hope that you have marveled, as we do every day, at the dramatic transformation of what was, so recently, nothing more than an odd little company with a nine million dollar market cap.� Oh yes, to be fair: three years ago, when the young engineering visionary, Tim Huff, arrived at the entity that would become GlobeTel, it had an OTC Bulletin Board listing, it had a one cent share price, it had a confusing and rather unappetizing history, and it had no products or strategy. Under Tim�s nurturing eye, the company soon brought aboard a small group of dedicated employees whose ranks continued to swell as the business began to take shape and move in new directions.
Today, GlobeTel is truly a global business. With roughly a $250 million market cap, a share price which is more than 15 times its level only three years ago, a headcount approaching eighty (still largely made up of some of the most entrepreneurial engineers in the world), a powerful, reconstituted Board of Directors with experience and access at the highest levels, and with a unique strategy built around five different (but highly synergistic) digital business lines, the company is positioned for explosive growth as it rapidly transitions from a highly innovative R&D company into a global Sales, Marketing and Project Management organization with impressive new business initiatives underway in more than 25 countries around the world�� including in China and India.
Is the strategy huge and challenging? Yes. Does it seem to represent an eclectic collection of cutting-edge technology opportunities that even some institutional investors find daunting? Yes. Does this multi-prong strategy make sense? Absolutely! In fact, for investors willing to take the time to truly understand what is going on at GlobeTel, it becomes evident that GlobeTel has thought about, and understands, the �puzzle� of the digital marketplace in a way that few other companies do. In fact, the company�s strategy has been woven around Tim Huff�s vision (which he first discussed with me more than 15 years ago at the young age of 26) �that the world of communications, in all its forms, must ultimately become interconnected and completely seamless.��
As I watched Tim�s professional career progress rapidly over the years, with startling levels of responsibility given to him at a very early age at the top of the technology ranks of MCI and Sprint, and later in his own, entrepreneurial businesses built around his growing vision of where the communications business would be going, I had a powerful sense that the young engineering genius that I had met earlier, would someday find a way to make his vision come to fruition.
Some years later (indeed, only a year and a half ago), Tim re-appeared before me in London� completely unexpectedly.� He had become a 40-year-old man, fully formed, a little grey at the temples, full of energy and enthusiasm and as� intellectually adept as ever. He told me he�d been waiting for the right time to get me involved in his vision, initially as a possible investor. And, he said the right time was now.� He told me of his decision, eighteen months earlier, to �back into� a public company vehicle (today�s GlobeTel), as a means of achieving his dream of creating a �Super-Hub� (a global, entirely private internet). We discussed it.� I researched it. We discussed it some more. And, nearly a year after this meeting, I agreed to join the company as its Vice Chairman. Since then, in the face of some early head scratching and head shaking by my private equity partners, I have become completely entranced by Tim�s vision of the Super-Hub and by the certainty that his vision can be achieved.� Much of this certainty is unquestionably due to a flurry of major technology breakthroughs in recent years. But my deep conviction in the achievability of Tim�s vision of the Super-Hub is due, equally, to the creative organization that he has built virtually from scratch in order to break the wireless �sound barrier.�
By quickly moving the wireless model well ahead of the pack, and we are doing it now, we are creating unprecedented commercial benefits for businesses and exceptional social benefits for the billions of our fellow global citizens who cannot access the wonders of the 21st century. This fascinating organization is built, much like the Super-Hub, around a central corporate structure which serves as a virtual �incubator� for each of the five businesses which are about to put GlobeTel on the international technology map in a big way.� Let me tell you about them.
GlobeTel Wireless Division.�� Under the inspired leadership of Ulrich Altvater, our GlobeTel Wireless Division has, to our almost certain knowledge, leapt significantly ahead of all our possible wireless competitors. Our remarkable wireless solution is currently being installed in Mexico, Malaysia, China and Germany, in significant municipal areas that will eventually average 400 to 600 square kilometers� with the ability to provide ultra-high-speed broadband/DSL� and mobile DECT-VoIP telephony to millions of users who previously had no access to such service. Our proprietary Hotzone� 4010 wireless communication system offers dramatically lower equipment, installation and operating costs than any of our competitors, and at a cost that makes these services accessible by the average man-on-the-street in these important emerging economies.� And, of course, our system completely eliminates the �last mile problem�� a problem which has caused incumbent telecom companies around the developed world to pour literally billions of dollars into the ground in the pursuit of customers connected via fiber-optics or �conditioned� copper-pairs. This hugely expensive �trenching strategy� will be a thing of the past if we have anything to say about it.� With our over-riding focus on the emerging markets, we see the opportunity to not only do well (very well), but to do good. Soon-to-follow upgrades to our Hotzone� system will include the marvel of IPTV � bringing thousands of channels of television from around the world into millions of homes � wirelessly.�� At the moment, GlobeTel Wireless is our leading contender for near term profitability on a significant scale.� Like the other Divisions, GlobeTel Wireless will achieve its greatest potential when it is integrated with our (i) Stratellite� near-space airship, (ii) our �Magic Money� digital, Stored Value Cards, (iii) our StrateVoIP telephony services, and (iv) our Centerline switching backbone which will tie many of these services together into a neat GlobeTel bundle.
Magic Money Stored Value Division.� �After two years of long, hard, technical and regulatory brain damage, Division Head Joseph Serrousi and his team have reached �lift off.� Magic Money� has produced what seems to us to be immediate potential for almost unprecedented revenue generation linked to the digital sorcery of our GlobeTel Magic Money� system.� What has been sculpted, shaped and developed over these two long years � at great R&D expense � is a digital system which gives us the ability to reach that 90% of the global population that is �un-banked� and that, as a result, has absolutely no access to bank accounts, credit cards, affordable telephony or reasonably-priced money-remittance mechanisms.�
In an exclusive Joint Venture with Travelex, the world�s largest retail foreign exchange business, our Stored Value Division has just installed our first Point-of- Sale terminals located in what will eventually be more than 6,000 retail locations around the U.S., allowing this un-banked community to �load� (endow with value) their Magic Money� digital cards which will, in turn, give these customers the ability to access low-cost, pre-paid, VoIP telephony services from any phone-box in the world and, separately, to transfer moderate amounts of money around the world (under $5,000 in order to fully conform to the Patriot Act, FDIC and other federal and state regulations relating to money movements) to their friends and to their family members at very low cost. And all of this will be processed through our MasterCard� certified switch, which will take over transaction processing this month.�
Conceptually, the ability to create �virtual wallets� (i.e. stored value) using global, high security, digital networks will allow several billion people around the world to �digitize� their cash hoards for secure storage and for secure remittance to any other person in the world who has access to a telephone (and, of course, to a Magic Money� card). This is, statistically, (to the extent that it can be measured), a market exceeding a half trillion dollars per year. And, in fact, it is really only an embryonic market at the moment because, until now, the technology has not existed to create such a virtual, digital financial services (and IP-based telecommunications) system� all targeted directly, and almost exclusively, at those �forgotten� members of the global economic community.�
In India, for example, in an exclusive partnership with the largest financial processor in the country, FSS (partly owned by the Carlyle Private Equity Group, of which President George H. W. Bush is a Senior Advisor), our Magic Money� Division will shortly enable more than 25 million, existing debit card holders to become immediate members of our Magic Money� network, giving them access, at very low cost (i) to money remitted from relatives abroad, and (ii) to inexpensive telephony so that they are able to stay in touch in a way that was unimaginable even a year ago. A remarkable breakthrough. The money remittance market alone is projected to grow to $257 billion per year by 2009.� And, GlobeTel�s Magic Money� Division expects to be one of the near term leaders in capturing a large part of this market through its unique digital technology in major remittance markets and, ultimately, globally, through its Super-Hub. Full Divisional profitability expected in the third quarter of this year.
GlobeTel VoIP Division -� StrateVoIP �Okay, no doubt your initial reaction to any VoIP telephone service is:� so what?� You know about VoIP via Skype. You know about VoIP via Vonage.� But, you have to know about VoIP via GlobeTel in order to really understand how exceptionally insightful the engineers at our company can be about what others might view as a commodity telephony market. At GlobeTel, our amazing VoIP team has cunningly focused its platforms, its marketing, its pricing and its quality voice services on narrowly-defined, niche, �ethnic� markets (eth � nick.� adj.� Of, or relating to, a sizeable group of people sharing a common and distinctive national, religious, linguistic, racial or cultural heritage.) The first of these highly targeted VoIP initiatives is focused on such an ethnic minority community based in our home state:� Brazilians living in Florida with many relatives in Rio and Sao Paolo. At the moment, the costs of telephone calls between Florida and Brazil, and between Brazil and Florida are (i) hugely expensive using their incumbent carriers or (ii)� neither user-friendly nor ethnically-friendly when using other VoIP providers.��
Our approach is to tailor our services to meet the special needs of these special communities who reside in large numbers throughout the United States. In particular, in our first Portuguese-language-focused VoIP roll-out, we will very soon be able to provide Portuguese speakers in Florida and in Brazil with a �local telephone number� which, using our highly proprietary, in-house developed platform, will make it possible for a nephew in Rio to call an uncle in Ft. Lauderdale by dialing a local Rio number, as if the uncle lived across the street.� Likewise, for the uncle in Ft. Lauderdale, he will now be able to dial a local Ft. Lauderdale number in order to speak to his grandson in Sao Paolo, etc.� And, this will all be achieved at a small fraction of the cost of the available alternatives.�
Our GlobeTel VoIP Division, operating under the dazzling technical and commercial insights of its President, Dan Erdberg, has developed two �ethnic portals� on the internet which will allow customers in both Brazil and in the U.S. to quickly, easily and cheaply become GlobeTel VoIP customers in a matter of minutes using our web-based, interactive technology which makes the sign-up process a snap and the user-friendliness unprecedented.�
The objective for our VoIP Division for the remainder of this year and into the next will be to create a network of such platforms which are intertwined through our proprietary VoIP system, giving users expanded reach to both members and non-members of their ethnic communities around the world.� Simultaneous with these initiatives, which we anticipate will produce a Divisional breakeven in the third quarter and significant profit in the fourth quarter, the Division is also working aggressively to integrate its unique technologies into the Hotzone� Wireless system which will add a multitude of new applications and opportunities as GlobeTel Wireless rolls out its wireless networks around the world. This represents another strand in the ultimate Super-Hub strategy, while creating significant stand-alone profitability in the meantime.
Centerline.� Centerline is probably our most challenging business, because its revenue base sits squarely in the middle of pricing models driven by white markets, grey markets and even some �black� markets in the global market for voice termination traffic. It is, in short, a commodity business based on the most competitive pricing for the termination of telephone calls over the incumbent networks. Frankly, it�s a business that can be described as �difficult, on a good day.� However, because we happen to have one of the smartest, toughest and best �traders� in the business running our Centerline Division, Joe Monterosso, we have been able to establish this as a significant revenue generator for the company.� And, its revenues are growing by the day.� We are helped by the fact (and this is part of our secret) that we have recently installed our wholly-owned, state of the art, VOIP and TDM switches at our main Network Operating Center.
While Joe was able to eke out a profit before the installation of our own switches, it amounted to daily hand-to-hand combat in order to compete with the other traders in the gladiatorial pit of commodity terminations. While each day is still very much gladiatorial in nature, Joe has now professionalized his operation to such a level that when, married to his own personal reputation, an increasing number of major incumbents are coming to him, in order to squeeze the other grey market players from what he politely terms� �the market.��
Joe�s profitability is expected to continue to increase over the course of this coming year� stabilizing at what we anticipate will be a gross profit margin something on the order of $500,000 to $750,000 per month. And, this reliable revenue source has, and will continue to be, important to us while our other Divisions complete their run-up to profitability during 2006.� Another secret, by the way, is that Joe�s company-owned switches, combined with his significant network of fiber-optic cable leases� will form a valuable part of our global Super-Hub, once it is in place.
Sanswire� The Stratellite. �� The icing on the cake of the GlobeTel strategy (and admittedly, the butt of some unfounded jokes from the tabloid financial press) is our near-space digital platform, called the Stratellite�. This rigid airship (not a blimp, not a balloon as the pundits remind us), when it becomes operational later this year, will produce what we believe will be the single greatest revolution in communications technology in the history of the world.� Sure sounds like an outlandish statement, doesn�t it?� And, I admit it is hard to make such a statement in an annual report to the Shareholders of a public company.� But, if the regulators will allow me to get away with saying it, I have to say it, because I firmly believe it.�
What makes the Stratellite� so special is that it will provide (i) an incredibly cheap (ii) fully-recoverable (iii) high altitude (13 miles from the surface of the earth) (iv) stable, geo-synchronous digital equipment platform� that will flood more than 125,000 square miles beneath it with every conceivable flavor of digital radio spectrum.�� �The Highest Tower in the Sky� is the way we think about it, except that unlike ugly cell towers which blight our landscapes and whose signals are blocked, diverted or diminished by surface obstacles (hills, trees, buildings, etc.), our Stratellite� will have a direct, vertical, line-of-sight shot immediately beneath it with no obstacles in the way of its signals� whether broadband signals, cellphone signals, IPTV signals, data signals, infra-red photography, high resolution photography, electromagnetic sensors, �radar, etc.�
When (i) integrated with our GlobeTel Wireless installations on the ground (all mounted on a series of roof-top masts about six feet tall), (ii) tied into our VoIP platforms, (iii) meshed with our Magic Money� digital stored value cards, and (iv) married to our Centerline terrestrial backbone and switches � we will have a remarkable, entirely private, subscriber-only, world-wide web with the ability to provide � wirelessly � (i) mobile and fixed line telephony, (ii) very high speed broadband (iii) IPTV, and (iv) security, educational, medical, environmental and other data services, all at remarkably low prices. This � is the Super-Hub.��
While the successful, commercial deployment of the Stratellite� will surely add a large measure of synergy and �market reach� to the GlobeTel strategy (allowing us to communicate wirelessly with literally every human being on the face of the earth), it does not define GlobeTel. It is simply the final brush stroke on the canvas which will bring our other four digital businesses� which in at least two cases (GlobeTel Wireless and Magic Money) have the capability to become multi-billion dollar companies in their own rights� under a single, integrated umbrella to form a worldwide Super Hub.�
The Sanswire team is planning to flight test Sanswire II, our final �technology demonstrator�, in the immediate future at Edwards Air Force Base. Currently, Sanswire II is undergoing various systems tests and systems integration at our Palmdale, California facility. We�re waiting for clearance from the Edwards Range for the test flights.� Having floated Sanswire II in the California desert at the end of February, our Stratellite� Division, under the energetic and visionary leadership of former NASA Mission Director and decorated Air Force Pilot, Bob Jones, is now prepared to commence its high altitude testing in June, and continue through the summer. First, however, there will be further testing of various subsystems leading to further tethered flight tests. The tethered tests will be followed by un-tethered taxi tests at Palmdale, which is located just a short distance from Edwards AFB. After validating and completing the Combined Systems tests, we will conduct an un-tethered flight test at Edwards, and this is when we will be preparing ourselves, shortly thereafter, �to break the World Altitude Record for an Advanced Rigid Airship.
Our Stratellite� airship� -� for the technically-minded among you� -� �utilizes a state-of-the-art carbon composite frame integrated into an advanced envelope, with power generation from photo-voltaic panels attached to the envelope.� Using the latest battery storage technology and electric engines to power the airship, we believe we have the ability to keep the airship aloft, and in position, for many months on end.
Simultaneously, plans are currently underway to begin construction of Sanswire III, our first commercial variant, for expected delivery to a Latin American country for use in digital communications and border security. The completion, final testing and delivery of Sanswire III is targeted for early 2007. From there, we hope the world will be our oyster.
Conclusions.�� When I sat down to write this letter to our shareholders, I asked myself: �If I were a shareholder of this company, what would I like to know?�� After reflecting on the question, I concluded that I would simply like to hear an honest, comprehensible statement about what this, sometimes confusing, company is really all about. I realized, because of my personal enthusiasm, that there was a risk of communicating something that might sound more like an advertising commercial than a cut-and-dried statement of the financial facts. If what I have produced here sounds too much like a Ferrari commercial, I apologize.� But, I have genuinely tried to convey the very exciting facts to you as I understand them.
I am no engineer. I am a businessman with a lot of years under my belt� working in virtually every sector and in virtually every market around the world.�� And, indeed, it is this background and this perspective that attracted the company to me, and me to the company.� My job, as I see it, is to do everything professionally possible, in concert with our CEO and his management team, to ensure that GlobeTel achieves its great potential.� As a shareholder myself, and as one of your most committed representatives � along with my fellow Board Members � I am convinced that we have an exceptional opportunity to create new markets, create new business models, reach new constituencies, generate exceptional profits and, also, to do some good for the world. Nothing in life is ever certain, of course. And at GlobeTel � because we are inspired everyday by our supporters and diverted by our detractors� we are fully attuned to the fact that what we are striving to do has few precedents. But, we believe in what we are trying to do, down to our toenails.�
The greatest revolutions in history have had few or no precedents.� I am often reminded of the London Times description of Alexander Graham Bell: �He is an �impostor�, a �ventriloquist�, a �crank� who says he can talk through a wire.�� Or the New York Herald�s statement that his (technology) is �weird, almost supernatural.� Clearly, we assume we are beyond the plague of petty superstitions and skeptical, uninformed �journalists.� But, in many ways we are not.� We remain perplexed by the handful of casual, uninformed, tabloid press artisans who simply fail to do their homework, fail to investigate the facts, debunk original research and, instead, fly into the grasping arms of their flighty, gossip-mongering readership.�� But, perhaps this is the way it has always been.
To you, our shareholders, I can only assure you that you have one of the most committed, dedicated, hard working, focused and energized management teams to ever occupy the American Stock Exchange. We eat, sleep and breathe GlobeTel.� We believe, as we rush to populate our management ranks with more high quality, deeply experienced, international business executives, that the next stage of the company�s growth is now at hand. Our R&D costs and our capital expenditures are behind us and, now, �this is the year for ramping up our people resources and our operating profits. Our expanding management team has as its mantra:� Deploy the technology. Generate the revenues. This, during the remainder of 2006, is our overwhelming focus. We are striving to make every Division in the company profitable by year-end. Considering the unique, highly marketable technologies that we have created and the many markets that we are already tapping, the future for GlobeTel and its owners (i.e. you and me) �has never looked brighter.� We thank you for continued support and hope to reward you handsomely for it.
J. Randolph Dumas
Chairman of the Board
GlobeTel Communications Corp.
http://www.globetel.net/about/letter033106.html
"What kind of people sue a company has straightened out and is looking forward?"
Dah...People who want to get paid for thier services.
Time for the SEC to step in and shut down this joke.
Regardless when they file the 10K, the only possible good news is they filed it. Other then that nothing could possibly be good news.
This company will show investors what April Fool's is all about.
It seems no one wants to post about the positives of Globetel going forward.
1- So far the SEC has not notified the justice department of any wrong doing... yet.
2-The dead silence and reorganization of No Mas Cables can only be considered good...no more overly promotions from this management.
3-Globetel has many interested parties, Chile, Columbia, Navy, National Security, Lockheed,Raytheon, Elisra... all they need is a product that works.
4-Employees of a Globetel division are being brought to trial for fraud.... Always a positive when criminals within a company is brought to justice.
5-Financial statements for 2006-2007 to be filed by March 31...
Only slight negative I see is after the SEC sees this there could be a chance for them to declare this company insolvent.
GREAT FUTURE
I'd say that's more of a proven fact then a theory.
After the Smoke and Mirrors Clear O’Fallon Wireless is Just a Trick
February 12, 2008 |
O’Fallon, Mo’s City Hall has completed a city wide wireless network installed and managed by Network 1 Communications. The city is using phrases such as “it’s free for the city” or “doesn’t cost the city.” One would think a non-profit organization is providing charitable services to the city.
First, clarification regarding this article is needed. A wireless network is an asset for any city and I support such programs if they are capable of doing what the provider claims they can.
My contention with O’Fallon officials is how O’Fallon Wireless was selected behind closed doors with no transparency to the citizens of O’Fallon. Brian Bazzell, O’Fallon Director of Information Systems, points out O’Fallon chose Network 1 because O’Fallon obtains wireless access to the Internet free.
Free for who? The irony is the service is free only for the O’Fallon government; the citizens bear the cost of $19.95 to $49.95 a month Network 1 charges for access.
City officials report the feedback is “overwhelming” in support of the wireless network. Not according to an article by Tim Logan of the St. Louis Post-Dispatch. The article reports Network 1 currently has 150 customers. One-hundred and fifty customers, after three months in operation, isn’t saying much when Mark O’Neal, the company vice president of sales, has to pay 12 employees. That tallys out to 12.5 customers per employee after 90-days of operations.
Who side is the government of O’Fallon on? St. Peters offers it’s citizens the Internet for free in city parks and other areas of the like. O’Fallon offers it’s citizens the Internet for a fee not free.
http://www.netnetblog.com/?p=289
What is actually left of Globetel:
A possible 50% ownership in Sanswire/Tao
A less then 50% ownership in No Mas Cable; which is under reorganization with the Peralta's.
A possible 4 million dollar kickback from the Stored Value Card sale.
Can anyone add anything?
PS I didn't pick this name from random.
If you want to go back to 2006, do you still believe this?:
How much money was lost by newbees believing your posts?
Posted by: siriuslyricher
In reply to: followingte who wrote msg# 35000
Centerline is now profitable, VOIP division producing revenues, all pilot testing of Hotzone paid for by interested parties ($250,000 so far),stratellite built, plus zero debt. Increasing revenues from current and future operations will cover an increasing percentage of the operations. Your assumptions that revenues will not continue increasing is the glass half-empty view
http://investorshub.advfn.com/boards/read_msg.asp?message_id=12407305
It is the same Rob Blackman he even said so. In a previous post he mentioned he got his job through Monster.com. Seems to me many people on this board have a memory bloc of the past.
Posted by: PNizzle
In reply to: glow_beatle who wrote msg# 34843 Date:8/1/2006 4:16:16 PM
Post #of 99432
I just spoke to Rob. He doesn't understand what all the fuss is about. His status with GenesisIntermedia and his ongoing role as a witness for the prosecution in the investigations by the SEC and FBI were all disclosed to GTE before he came on board. In fact, several of you seemed to make an issue of this back then and the company stood behind Rob because he's a good man. Globeatle-- you are right, he still is not sure how the company found him and his main focus is private equity and mezzanine stage debt, and he says if you truly have his home phone number, call him on it. If you feel he's not being upfront with you, or disingenious, call him and tell him like a man, not like a coward hiding behind the anonymity of a firewall.
Then, he did some freelance for US EURO Securities, which was founded by his mentor, writing the web site copy and press releases about the firm being retained by different companies and people joining the firm, never about the clients' themselves, and then he helped out Aidan Capital, apparently the CEO is a friend of his, for a few months when they acquired New Morning and made it Window Rock. He said he has the stock certificate for the 100k shares he was paid (about $600) sitting in his bottom desk drawer in his home office. He doesn't get you people... you'll crawl on any bandwagon that's already headed downhill just to place blame somewhere. He also questioned the identity of the poster.
I'm sure this post will get pulled off quickly because the only ones that are staying on today are the ones bashing him.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=12385691
Rob fits in well whth this group. LOL.
PMEI went from .40 to $500.00 on share volume of 225 shares. Someone is going to learn a big lesson about bidding open market on BB stock.
http://investorshub.advfn.com/boards/quotes.asp?ticker=PMEI
"This is a major step forward for the Company," said Jonathan Leinwand.
Nice to see the CEO just realized that.
What a joke.
Rhap, this whole company is "For Amusement Only." How many times has it been said on this board, "you could write a book about Globetel." Would be a good money maker for someone in prision with a lot of time on their hands.
"For Amusement Only" I like that.
Scion, look at the bright side. This high tech, change the world communications company has out performed the Dow since the first of the year. The DJI lost 1142 points while this company gained 11%.
A recession will have no effect on this company. Their sales and earnings won't go down no matter how bad the economy is.
2008 has been a great year for Globetel so far. With all the problems....they are on a roll right now.
I pay no stock commissions, so it makes no difference what the stock price is, it's the % I am interest in. Times I will settle for a 2% profit, usually I buy and sell quick, hardly ever make more then 20% on any trade. If it's running I let it run and get lucky once in a while. (Need that too) Cautious about my trades right now, don't like the looks of the market. Experience has taught me take what you can get when you can get it...let the experts make the big money, I'll take the crumbs.
Don't usually play penny stocks, alot of the stocks I owned in the past ended up being penny stocks anyway Lol. (GTEM one of them). Made a lot of money on ERFW, biggest % gain of any stock I ever owned shot up from .11 to $1.40 in a couple of weeks, sold and never looked back. I have a rule that I never buy a stock once I sold it unless it goes below my original purchase price. Have my eye on SONS, last time I purchased it was $4.20. Been following this one for years, same pattern all the time, everytime they get a big contract they have disappointing earnings the next quarter or manage to have some problems with the SEC. Company is a loser for shareholders but a winner for themselves. A company (Senate) owns 67 million shares and has been buying most of 2007, stops buying and the stock tanks.
I am a negative person by nature, and always look for what is wrong with a company before I make an investment. Seldom look for the good. One of the reasons I don't post much....make too many enemies. LOL
Nerd, Have you listened to or read about the AHR/DB conference.
On the Yahoo board there is a very knowledgeable person for2net12, his posts are worth reading. I like this stock for both trading and long term.
I like this part:
What about dividend cuts???
Shea: Dividend rates are based upon credit performance. It means nothing when spreads widen! The spreads do not touch the dividend cash flow! The $0.30 dividend is expected to remain stable and sustainable…Operating earnings will go above and below .30 from Q to Q…AHR looks at it on a 2-3 year horizon not a quarter to quarter basis. Credit performance is the key. The assumptions for losses are much higher than the current performance and actual losses are not expected to change by a magnitude higher than the assumed loss rates in the next 2 years. So div is expected to remain stable.
Jetmek, This was discussed long ago on this board. Globetel has to report. They could be suspended from trading from the Pinkies for not reporting. These posts explain everything, also why I wouldn't touch this stock. http://investorshub.advfn.com/boards/read_msg.asp?message_id=18136306
follow-up from SEC
http://investorshub.advfn.com/boards/replies.asp?msg=18136306
Thanks for sharing, your right it is fun to watch.
Nerd, Sounds logical, which would explain all the flickering.
Happy Holiday's to you and everyone on this board!
According to the PR it was to demonstrate surveillance capabilities.
With the clarity of the video taken from the airship it will be like giving a free pass to illegal immigrants crossing the border. Gee. You can't blame Globetel for sending someone on top of the building and taking pictures after looking at that.