Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
U of Miami should have offered a course on local scam operations. JL must have taken that course or maybe he is the teacher, he knows enough about it.
"I understand what it looks like," says GlobeTel's in-house lawyer, Jonathan Leinwand. "It looks like just another little South Florida scam company."
Good to hear Tim wasn't paid. At least he gave a little something back for all his screw-ups.
"near criminal organization"
That's giving them more respect then they deserve.
gdb81, I remember you when you were on the Gtem board talking about Joe Monterosso.
Thought you might be interested in this:
http://www.joemonterosso.com/index.html?1188843109640
Owlnight, you need to read the posts with more understanding.
Now try your best to understand:
Here were Coles figures:
They could have been losing money on it yet...100,000 shares? When the shares were worth $3 they could have been paying the equivalent of $300,000 for a million in revenue that was making 2% margin....
amazing why would a company do that?
My Reply:
The agreement with CSI was signed in April 2005. In May 2005 they had the reverse split, I would assume his shares would have been adjusted 15 of his shares for 1 new share.
Easy to figure out he already used the $3.00 post split price. (got it so far) He failed to make an adjustment for the reverse split. So 100000 shares divided by 15 (the amount of the reverse split) would now become 6666.66 shares multiplied by $3.00 would be $20,000.
So as you can see there was no need to adjust the share price regarding that post....only the number of shares. Use your own method, bet you might come up with the same answer.
No, The agreement with CSI was signed in April 2005. In May 2005 they had the reverse split, I would assume his shares would have been adjusted 15 of his shares for 1 new share.
Common Stock outstanding went from 1,078,145,447 to approximately 71,876,364 in May 2005.
Cole that was pre 15-1 reverse split.
He did take legal action, he stopped the sale of the equipment in CA.
That is why he can speak the truth. He already made his money and most likely dosn't need to work for someone else. The 100 grand he lent Globetel was just a good will jesture on his part and he got shafted. Who wouldn't be pizsed.
Good thing he didn't go postal, a lot of people would have.
meanmikeca, I would have done the same thing Joe did, especially when my friends were going to be the CEO and his director brother in charge of the NMC venture, both having close ties with the Pereta family and I convinced them to lend Globetel money.
From a post by Mide:
2). The "manager", Mr. G., (full name provided by IR at request), and his family, who are dear friends of Joe M., have been in charge of our entire JV roll-out.
see message: http://investorshub.advfn.com/boards/read_msg.asp?message_id=22503520
This should also explain why Joe M. lent money.
http://www.joemonterosso.com/email_Vern-July21-2007.pdf
Also the reason this post was made:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22513436
I guess I will have to take my rose colored glasses off.
Wizetradr, it has to be made up. Who in thier right mind would lie to the SEC? Maybe the SEC won't pick up on it.
Just today an 8K came out where the new CEO stated:
During the most recent fiscal year and through September 11, 2007, neither the Company nor any one on behalf of the Company has consulted with Dohan regarding the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, or any other matters or reportable events required to be disclosed under Items 304 (a) (2) (i) and (ii) of Regulation S-K
SEC QUESTION TO KHOURY:
4. We note that you have not discussed the restatement issue with your independent auditors. Explain to us why you did not consult your auditors in connection with the restatements.
Khoury's Response:
As disclosed in the Form 8-K Current Report filed with the SEC on April 16, 2007, the Company engaged Weinberg & Company, PA (“Weinberg”) as its independent auditors for the fiscal year ended December 31, 2006. Please note that Weinberg has not been engaged to audit the Restated Reports. As a cost saving measure, management elected to engage Dohan & Co. (“Dohan”), the auditors that initially audited the Restated Reports, to re-audit the Restated Reports. Management advised Weinberg and Dohan of their corresponding roles. As such, as management did not believe it was going to engage Weinberg to re-audit the Restated Reports, it did not believe it was necessary to discuss this matter with Weinberg.
meanmikeca, If it comes to believing Joe M. (an individual who many claim received a Wells Notice and is under scrutiny from the SEC)
Or believing Bleckman and the directors of Globetel. I would go along with Joe.
You are free to believe what you want.
KenW Good example of some forward thinking. You have to look at Globetel or any company with a clear mind and not just look at what looks good.
Now you know the rest of the story.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22128341
I agree, its about time they thought about "executing plans to provide competitive products in the marketplace," as stated by Mr. Leinwand.
What a good idea!
Would like to see more "executing" we have already seen more then enough "plans".
Not on Ihub but on Joe M website he reported the following with authority:
"Leinwand did in fact leak confidential information to outsiders and to personal friends prior to the public being informed that he was as of the September 4, 2007, “the new CEO.” Jonathan Leinwand was the leak. Be sure to report this breach to the SEC immediately. Be sure to include Kostro in your report."
Like I said in a prior post (msg# 87389), it's common for leaks to happen in unusual ways especially when traveling to a foreign country and representing your company for the first time at a foreign company not under SEC regulations. Information like that shouldn't be leaked out before it's made public to any foreign country if you are only a minority partner. LOL, didn't they leak out enough information to the Russians. If I were to venture to guess who was selling my guess would be the Mexicans who were paid off with stock.
Kenw, so now we find out it was John L. in Mexico that made the slip of the tongue. Leaks like this happen all the time. And you tell me I am a basher for being correct.
This has happened before with you and you were dead wrong. You need to have an open mind and not be so focused on your holdings. Good pumping try.
Wrong again in your reply to a prior post:
http://investorshub.advfn.com/boards/replies.asp?msg=14117681
Read both the message you responded to and the message received. I told you then you needed to do some forward thinking!
Like a horse race, you try to pick the winner with forward thinking before the race starts. Once the race is over is too late.
I believe him. He has been right and I have yet to see any proof where he is wrong. Not Bashing...neutral opinion.
Would have made a good CEO. IMO Speaks his own mind.
SEC will find that out. Always been on my mind and posted about it before. What was Huff doing in Switzerland during the Russian negotiations?
Here is a good example.
Why did Huff call Kostro when he resigned before any information was made public. Kostro was only a director of Caterham Financial who made an investment in Globetel. Did they also call any other funds or investors? Wouldn't that make it Globetel has a history of leaking inside information to a select few such as Caterham?
The first post on this was from Axel without confirmation. Not from Vern.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22603351
Well please give me the hard information you have.
Welcome to the stock market, insider leaks happen every day.
PS: JM and Vern are they insiders or are they just speculations by people that happened to be correct?
Hard to prove.
Ken, what's the big deal about information leaking out. How many times have we seen this stock go up for no apparent reason and people commented on this board:
"MUST BE NEWS COMING"
....and sure enough news came.
Happens all the time, once in a while the SEC will step in on a high profile case like Martha Stewart just to set an example.
Khoury could have told a flight attendant, waitress, hotel clerk or even the receptionist at the virtual office to refer calls to JL who is taking his place....goodbye and thank you for your service. From there word spread.
I know of a big collector of wrestling memorabilia who used to pay the janitor of the WWE for all the rubbish in the wastebaskets. Got some unbelievable stuff which was absolutely confidential if word leaked out. The Enquirer would have loved to get some of the information. LOL
Sure the Sec goes after little fish. They went after Globetel....they were never a big fish.
(Except for the longs)
Always a good sign when the CEO of a struggling company resigns and a is replaced by its attorney.
He knows what's involved.
Would be nice if Khoury would post here, even if it's through the VK Newswire.
Off topic so I will not continue. Globetel has no proven proof Hotzone Wireless even exists. To even mention competing against VZ is ridiculous.
Quality and reliability are worth the extra cost.
1985 the Yugo went on sale as the cheapest car sold in the USA. With a base price of $3990, it was thousands cheaper than the next car what happened to them?
The price and volume movement this week seems to agree with the statement of Jonathan Leinwand.
"I understand what it looks like," says GlobeTel's in-house lawyer, Jonathan Leinwand. "It looks like just another little South Florida scam company."
My patience paid off (even though I missed a quick flip) Got AHR at $8.56, can't understand why it is going down after declaring a dividend, and earlier announcement of a share buyback.
Not very many people left at Globetel to point a finger at anymore, the only other place to point a finger at is message boards. Not a very upbeat message to me.
"and of general conditions within the Company are all of critical importance to me, and to the management"
critical
1 a : of, relating to, or being a turning point or specially important juncture <critical phase>: as (1) : relating to or being the stage of a disease at which an abrupt change for better or worse may be expected ; also : being or relating to an illness or condition involving danger of death <critical care> (2) : relating to or being a state in which or a measurement or point at which some quality, property, or phenomenon suffers a definite change <critical temperature> b : CRUCIAL , DECISIVE <critical test> c : INDISPENSABLE , VITAL <a critical waterfowl habitat> <a component critical to the operation of a machine> d : being in or approaching a state of crisis <a critical shortage> <a critical situation>
2 a : inclined to criticize severely and unfavorably b : consisting of or involving criticism <critical writings> ; also : of or relating to the judgment of critics <the play was a critical success> c : exercising or involving careful judgment or judicious evaluation d : including variant readings and scholarly emendations <a critical edition>
3 : characterized by risk or uncertainty
4 a : of sufficient size to sustain a chain reaction -- used of a mass of fissionable material b : sustaining a chain reaction -- used of a nuclear reactor
Owlnight you say:....if the JV is dead there really is NO revs...just whats from magic money.
Where you been Magic Money/Stored Value Card is long gone.
That is where they began shifting the assets to the VC & friends pockets
http://investor.globetel.net/phoenix.zhtml?c=67726&p=irol-newsArticle&ID=928608&highligh...
Bought at .18 sold today at .135. took the loss rather then lose it all. Was lucky to get that as I sold on the open market. I think the company is done. Made this post as reason I think that way:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22615425
This post sums everything up IMO:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22618084
It is people like you who got hurt by much of the hype from a message board and the company over promotional press releases. I posted just about the same message as you did 6 months before and learned I had to tone it down a little by the reply's I received. I traded it quite a few times and made out well all on all the hype.
Just bought recently and sold at a loss today.
Reason why I sold:
Too much volume on the downside. Who is selling, most of the people who wanted to sell already sold, has to be insiders dumping what they can. If the rumor is true Khoury resigned and (which I believe, Khoury was only an Interim CEO)and Leinwand is the new CEO why would an attorney become a CEO if it weren't to close the next chapter. They would have 3 days to issue an SEC filing. Should something good come out I could always buy back at a higher price on positive news. http://investorshub.advfn.com/boards/read_msg.asp?message_id=8878072
You knew this was coming when you made this post:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=11335876
One of the reasons to have a balanced board with both positive and negitive views with respect for each other.
LOL! Sanswire or Sanswire Networks still a limited liability company. If IR said there is no Sanswire LLC then every single word needs to be carefully scrutinized in every comment they make.
As an example here is a PR release with no mention of No Mas Cables de Mexico. It makes no mention of any partnership. Should it be assumed it is not in the partnership with NMC because it wasn't mentioned correctly? An example of IR not being clear and concise and assumptions made by shareholders.
http://biz.yahoo.com/prnews/070709/clm079.html?.v=49
Copyright © 2006 Sanswire Networks, LLC.
http://www.sanswire.com/
Keep listning to IR.
Posted by: siriuslyricher
In reply to: vkoenig who wrote msg# 86272 Date:9/5/2007 10:20:38 AM
Post #of 86315
Vern, per IR, there is no Sanswire, LLC. Keep trying, Vern.
Kind of feel sorry about some of the people there. Don't feel sorry for the heavy pumper's who twist things around to make things look good. Globetel has over 70 million of accumulated losses and what do they have to show for it.
A strat that is no more then a glorified airbag.
A 49% stake in Mexico moving at a snails pace.
To raise any money will cause major dilution.
Sad, they had the right ideas at the right time and blew everything.
Even if they got the Strat freefloating you would still have to question their ability to be able to do things right the first time something which they have never been able to accomplish.
I understand, I had a lot of cash in my investment account, I just went overboard in a brief time span. I don't want a margin account, not when I am keeping the amount of cash in my investment that I do. It was just an opportunity for trading that doesn't come along very often.