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.
With GTEM owing $140,000 in past due rent I think LA is just trying to recoup what they can at this point. It's not a good sign that GTEM failed to execute the agreement and pay the first installment. We had better pray for funding prior to the court date.
There has been no S-3 filed registering the shares.
"This is still not worthy of really investing in yet, the sec, litigation, and the financials are all still in a wait-state. That's what I'm waiting for. Play the runs, short the corrections until then."
Are you shorting this correction? I thought only the "big boys" could short a Pink.
If filing can not be extended further hopefully that means we may have a resolution to the investigation next week or shortly thereafter.
Kevin,
Any idea on whether the company can file additional extensions or is this it?
Pit,
The stock price can't get much lower than it already is. From the NT 10-Q filed yesterday it stated that the audit committee hasn't reached a conclusion yet about the Sanswire and Hotzone transactions. The investigation seems to be limited to how they were capitalized as intangible assets which I view as a positive. I think things will begin clear up once 3rd quareter results are finally released.
Now that would be a great way to end the year! I believe the VPN pilot contract read that upon sucessful completion Globetel would recieve $10 million per 100 sq km ($5 million before,$5 million after completion). I appreciate your mature response.
He stated this on the day he took over as COB, and we haven't heard anything about it since, including in his letter to shareholders. Maybe the reorginzation is going better than expected or maybe like you stated earlier they just haven't been able to get any funding yet. I'm not trying to argue with you, just making an observation.
See Mide's post below regarding Rob's explanation of the previous funding agreement. If it's accurate, with the major cost cutting taking place, maybe it's no longer necessary. Or they could be waiting until the SEC investigation is complete.
Posted by: mide
In reply to: None Date:10/12/2006 7:53:36 PM
Post #of 52002
Recent Funding---
Turns out it was done as a "cushion" finance in a "just in case" they needed it for unusual expenses to meet the time-line plan. Purposely it was done with multiple parties with only bits and pieces of holdings. Rob told me he was glad the company is smart enough to stay away from a certain major shark hedge fund one that had not worked previously in GTE, and any company that uses this hedge fund ends up in a "death spiral" financing reality. The fact it did not get fully subscribed, is a blessing currently, as Caterham has a huge incentive going forward to maximize return against their losses to date
From Kostro in the October 12th PR:
"I will also focus in the next week on securing the necessary funding to underpin our plans to restructure the Company and complete key projects already underway."
Anyone want to comment on why we have not seen a PR regarding additional funding? In the Kostro's letter to shareholders on November 2nd he made no mention of this, only that significant cost cutting and a reorganization were taking place. Could this be a good sign?
Jim,
Thanks for clarifying that. Please let us know if you get any more information. I hope the company releases an update along with 3rd quarter results about the status of all projects including the wireless networks in Germany. With Huff now acting as CTO I find it hard to believe that Kostro is planning to sell off the divisions in order to recoup Caterham's investment.
Let's see how this plays out before we jump to conclusions about the reasons for the bk filing. If the filing is legit it would be corporate suicide for GTEM not to disclose this while a SEC investigation is taking place. Klaus Bonn was let go on October 31st and the bk was filed on November 3rd. Was this an act of revenge? Sometimes people do crazy things. Please keep us updated if and when the filing is removed.
Jim,
I appreciate your input. Wouldn't the bk filing be considered a material event and have to be disclosed to the public?
Thanks
From the September 20th PR:
"GlobeTel expects, in October, to begin to sign up customers and to provide those customers with access to an initial portion of the network, covering a specific geographic area. During this initial phase, GlobeTel will closely monitor the network's capacity and stability and, once satisfied, will provide customer access to additional areas of the network based upon demand. GlobeTel expects that it will be able to give customers access to the entire network, encompassing all network access points in the city, within approximately 60 days. Once the network is fully accessible, customers who subscribe to both the broadband and voice service will be able to access their account, surf the Web or place a voice call within any part of the city and to anywhere in the world, at low cost, over GlobeTel's VoIP network.
The Company continues to build out HotZone wireless networks in the German cities of Kaiserslautern and Erfurt. It expects to begin marketing these additional networks to customers following the full activation of the Heilbronn network."
With Klaus Bonn fired I am wondering if the customer sign up/network performance is not going as well as they had planned. Hopefully we'll hear a progress report next week on all ongoing projects and when we can expect them to start producing.
Exactly! We all know Sans III will be the commercial demonstrator. Will "2B" be a military version?
"Sanswire 2A" - Has anyone else ever noticed the "A" in previous PR's?
Sinful,
I think he's bsing/trying to find investors for his company:
How else can you explain his mood swings?
Posted by: vkoenig
In reply to: None Date:10/16/2006 12:46:16 AM
Post #of 47169
I can't understand why GTE seems hell-bent on hiring all of these Englishmen. They come aboard and GTE touts them to the fullest and the shareholders eat it up. His Royal Lordship Sir Christopher Meyer, Knight of the Realm and Consort to the House of Windsor, turned out to be a flash in the pan. They all arrive with these grandiose resumes and their work, at best, is less than mediocre. Meyer arrived with what seemed to be more 'baggage' than a Dolly Parson's concert tour. I can't see where any of them have made any significant contributions of note to GTE other than lending their 'royal names' to the company roster.
What GTE truly needs is a kickass CEO who won't take "No" for an answer and willing to open up a can of Whupass and force feed it to his board of directors.
Are Kostro and the board intending to have the company bought out, or are you suggesting it will fail in 07, even with a sucessful Strat test at high altitudes which you referred to in a previous post.
"The Company also announced it intends to issue information within a short time frame related to its current status and state of affairs."
Needless to say this will be the most important update the company has ever released in its short history. Hopefully it's good news. We are way overdue.
I was also expecting a statement today. I wouldn't be surprised if it was released after hours. This is obviously the low point for me in the history of owning this stock. Just when you think it can't get any worse it does. The only thing preventing me from selling is that their technology is in the marketing phase. Partnerships with established foreign telcos/governments is very important in implementing their technology since their reputation has been kicked in the face by the AMEX and media.
With these latest developements with the company IMO it will be nearly impossible to increase share holder value by the end of the year. The only hope management has is rapid execution of all business units during the 4th quarter and being cleared of any accounting irregularities by the SEC prior to the end of the year. If there was ever a time for Huff to write a letter to the shareholders it would be now. We deserve to know why the company was delisted and what steps are being taken to ensure this will NEVER happen again. We deserve to have updates on all business units, including projected financials for the 3rd quarter. Honest communication between management and shareholders is key to surviving this horrible time.
If history repeats itself like December 2005 look for the S-3 to be filed followed by blockbuster news, IMO
If I recall correctly Blue Horizon would have the funding by September for the Silicon Valley project. My guess is that Blue Horizon would provide the money and GTE would provide the technology and build out in Sacramento. Looking at the joint venture with VPN in Mexico GTE would recieve $10 million total for a 100 sq km network buildout. Is the latest funding deal specifically for this project? I don't know. I guess we'll find out when the proposal is available to the public.
IMO the lack of funding eliminated Blue Horizon/Globetel right from the start. Hopefully the funding is already in place for the Sacramento bid.
Thanks Mide for the update. I am anxious to hear status reports on the progress of Magic Money in India, the Mexico City pilot results, the fire detection pilot results, and obviously an update on Strat testing. It's a shame management was forced to place a gag order on PR's during this delisting period. The share price has definitely suffered.
Since I was unable to attend the shareholder meeting did management indicate that Centerline was on track to reach its goal of $350,000/month in net operating profit? All I remember from viewing it online was that they stated it was profitable.
Has this happened in the past?
"In simple supply and demand economics, artificially increasing supply will push down the price of even the strongest of shares."
The above quote is regarding the Pegasus short attack. Since we are on the naked short list, can this also suppress any upward momentum if we are not delisted or recieve good news?
Would you be tempted to place an order higher than the current share price next Thursday just in case we're not delisted, or are you going to play it safe and wait until a decision is made?
Glow,
I asked this yesterday but no one responded. What if we aren't delisted? Would we move up to pre-Amex notification levels, or higher with the Germany news?
Given yesterday's news and assuming no other PR's until after the AMEX decision, how high do you expect the price to go if GTE is successful in their appeal? IMO, the delisting is mostly priced into the stock at this point.
"To date, the Company has received more than a quarter of a million dollars in pilot deposits. As we continue to advance our HotZone technologies, we anticipate being able to bring a wider array of services and applications to our partners and clients. For example, our newest wireless technology advance, the HotZone 5000, currently scheduled for launch at the end of the third quarter 2006, will incorporate over 1,000 channels of wireless IPTV."
Does Germany have this many free channels? Even if people don't need IPTV, if you package this feature with voice and internet at a rate similar to what the local telcos are charging for phone and DSL, you could see many customers making the switch IMO. It's a pretty cool technology!
So it seems that even without a license for wimax the Globetel Wireless network can still function for wireless internet and voice services. Does everyone understand this to be the case? Also in order to provide IPTV is wimax a necessity?
Thanks
Don't worry it happens to all of us. Your mind starts to go after all the stress this stock puts us through LOL! Have a good night!
Gil
Glow, can you please show how you calculated that?
Thanks
The pilot contract is in the last 10Q. I have a feeling you won't bother reading it.
A wireless network in at least one German city is scheduled to be complete, as well as the Mexico City pilot by September 30th. If VPN accepts the pilot, Globetel will recieve a deposit in the amount of $5 million to start build out of a wireless network for no greater than 100 sq km. Obviously a completed wireless network in Germany could start generating revenue for the company which is what we need as investors. If a reputable company like VPN of Mexico has enough confidence in our technology to parnter with us in building wireless networks, it would serve as validation to me that this company is legitimate.
Stunkstox,
Hopefully we find out about the Mexico City pilot results prior to the next quarterly report. That should be a good indication of where the company is heading.
My guess is the money will be used for an immediate need to implement their technology, as we were told by Huff at the SHM. Which division is this for? I don't know. From my previous post I was suggesting what might potentially happen based on last years funding agreement.
I've been doing some research on a similar funding agreement Globetel entered into last year. I'm not an expert on this, but I wanted to see if there was any correlation to the filing of the S-3 and potential good news from the company. The S-3 below was filed on December 5, 2005, just before the anouncement of the Internafta contract.
http://investor.globetel.net/phoenix.zhtml?c=67726&p=IROL-secToc&TOC=aHR0cDovL2NjYm4uMTBrd2l...
According to the current funding agreement Globetel has 30 days to register these shares. I would watch closely on when the S-3 is filed. IMO, if last years S-3 is any indication we may see a blockbuster PR released shortly thereafter (hopefully a signed contract with money in the bank this time)