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.
zgoldies2, this is your post from the RB MB:
By: zeegoldies
20 May 2007, 10:52 PM EDT
EOM = End Of MobilePro. AIMHO
So, you have no position in MOBL but you spend weekends to bash the company on different message boards. I guess you are really worried about the next 30 days and all the big positive things MOBL will announce (imo).
zgoldies2, you have no idea what you are talking about. Jay didn't borrow 'an additional +$1MM from Cornell' and he has plenty of funds to meet the payroll.
MOBL issued a promissory note to Cornell Capital in the principal amount of $1,100,000.
Here is one definition for you: A promissory note is a contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the other (the payee). The obligation may arise from the repayment of a loan or from another form of debt.
pkhoury@globetel.net
Email or call Khoury. He always responds to my emails and several times we talked on the phone. I have never received any response from Bleckman.
Anyone willing to speculate about GTEM's revenues in the current quarter? My take is less then $1 million (generated by Wireless and VoIP divisions).
nerd86, you could be right. I expressed similar opinion on Tuesday (May 15) but my post got deleted.
We are OFF the Reg SHO list again. I guess naked shorts were busy covering in the last few days...
http://www.nasdaqtrader.com/aspx/regsho.aspx
Reg SHO List statistics for GTEM (updated 05/17/2007):
1st trading day on the pinks: 10/11/2006
Total trading days on the pinks: 150
ON the list: 113 days or 76% of total trading days
OFF the list: 37 days or 24% of total trading days
ON the list: from 10/11/2006 to 10/16/2006, from 10/23/2006 to 01/26/2007, from 03/05/2007 to 04/25/2007, from 05/08/2007 to 05/16/2007.
OT: crashman, I see you enjoy GTEM main board as well. lol
We all know the Mexican JV is not a trial. I referenced my post to the US Navy HotZone trials.
The current management gave away our Magic Money division and divested our Centerline division. I see no progress regarding our Stratellite project(s). As I stated in my previous post, the Mexican JV is my only hope for GTEM's future.
"croinvest- the JV is not a trial! The pilot was the trial. They are rolling out the networks as we speak, and yet people like yourself continue to say that Globetel has never delivered on anything!
Past management failed numerous times, I agree. However, do you deny that the current BOD has done more in 6 months than they ever did!!!"
It's only a TRIAL, not a contract. Remeber the US Forestry trial? What happened with that one?
Mexico is my only hope at the moment.
"Yes, that's why the Peraltas signed a JV with GTEM, for a network which is now being installed in Mexico, and the U.S. Navy is sponsoring HotZone trials at the CWID! LOL"
SAM, hate to agree with you but your point 3a) best describes GTEM's past and present achievements.
"GTEM has gone from "concept" to "new concept" to "newer concept" to "newest concept" -- company has become known for their "FTD" (Failed To Deliver) on anything/everything."
We hit $0.205 (new 52-week low) eom.
crashman, I'll take $150 million!
MOBL still owes to Cornell approx. $16 million. Do you think that Davel's sale can generate proceeds in that range? I don't think so.
I have faith in Jerry's skills and BB&T's expertise to make this IPO happen.
MOBL has close to 800 million O/S. At 5 cents the market cap = $40 million, at 10 cents the market cap = $80 million (still way too low, imo).
Reg SHO List statistics for GTEM (updated 05/16/2007):
1st trading day on the pinks: 10/11/2006
Total trading days on the pinks: 149
ON the list: 113 days or 76% of total trading days
OFF the list: 36 days or 24% of total trading days
ON the list: from 10/11/2006 to 10/16/2006, from 10/23/2006 to 01/26/2007, from 03/05/2007 to 04/25/2007, from 05/08/2007 to 05/16/2007.
http://www.nasdaqtrader.com/aspx/regsho.aspx
Endless manipulation.
Kite happy with response to Longmont network
By Trevor Hughes
The Daily Times-Call
Publish Date: 5/16/2007
LONGMONT — The city’s three animal control officers have begun using the citywide wireless Internet network to check pet registrations online as a test of how the system may help municipal government work more efficiently.
The wireless network, built by the private company Kite Networks last fall and winter, permits customers to access the Internet wirelessly, instead of using a phone line, cable network or DSL connection.
Kite says it has had “thousands” of paying customers since it launched Feb. 20, but a company official said federal regulations bar him from releasing actual numbers.
“We are well exceeding our expectations and our business model,” said David McIntosh Jr., the company’s vice president of business development. “We can tell nationally this has been the fastest network deployed in the country.”
McIntosh acknowledged that there are still some parts of the city lacking access to the network, which he attributed to a lack of access points in neighborhoods with decorative lamp posts. He said Kite has gotten 585 of 675 transmitters installed and will be working over the next few months to set up the remainder.
McIntosh said other cities across the country are approaching his company to seek a similar network, and he’s telling them they may have to wait up to a year before they can even begin discussions.
Longmont did not pay any money to built the network but is planning to become a major user of the system. City officials have visions of linking police cars to vehicle-registration databases, providing links to up-to-date street and development maps on fire trucks and even controlling traffic lights. Longmont is one of only a handful of cities nationally that have a wireless network up and running, although many others are seeking them.
In addition to using the system to connect to the pet-registration database, the city police department is also experimenting with wireless video cameras, said city chief information officer Jim Wall. He said he’s working with consultants to create a security system that will allow city workers to access the city’s secure computer network over the wireless network.
Kite competes with Qwest and Comcast to provide Internet access to city residents
http://www.longmontfyi.com/print.asp?ID=16378
Up 14%. Closed at the HOD. Not bad!
Up 10%, good volume. eom
That's a pitiful attempt to bash the company!
I think this 8-K is a great news for MOBL. Jay gets 45 days to complete some or all of previously announced strategic transactions (Kite IPO, Davel, ProGames merger, partnerships) without Cornell's selling pressure.
Form 8-K for MOBILEPRO CORP
Item 1.01. Entry into a Material Definitive Agreement.
On May 11, 2007 the Registrant ("Mobilepro") and Cornell Capital Partners, LP ("Cornell Capital") entered into an agreement to defer until July 1, 2007 the making of $300,000 in weekly principal and interest payments due under the terms of convertible debentures, as amended, that Mobilepro issued to Cornell Capital in connection with a financing of up to $7,000,000 under the Securities Purchase Agreement dated August 28, 2006 between Mobilepro and Cornell Capital as reported on Form 8-K filed September 6, 2006 (the "Seven Million Dollar Debentures"). The foregoing is only a summary of the terms of the amendment to the convertible debentures and is qualified in its entirety by reference to Amendment No. 4 to Convertible Debentures, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.
On May 11, 2007 Mobilepro also issued a promissory note to Cornell Capital in the principal amount of $1,100,000 (the "Promissory Note"). Cornell Capital deducted an origination fee of $15,000 and interest due under the Seven Million Dollar Debentures in the total amount of $36,449.87 for net proceeds of $1,048,550.13. The foregoing is only a summary of the terms of the Promissory Note and is qualified in its entirety by reference to the Promissory Note, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.2 and incorporated herein by reference.
Item 8.01. Other Events.
Since the last Form 8-K filed April 23, 2007 by Mobilepro, it issued a total of 39,857,046 shares of its common stock to Cornell Capital to pay $799,343 of principal and interest due under the terms of the Seven Million Dollar Debentures. In addition, Mobilepro issued an additional 4,510,933 shares of common stock as payment of principal in the amount of $70,822 due under the terms of a convertible debenture dated June 30, 2006, as amended, that it issued to Cornell Capital in connection with a financing of $15,149,650. Mobilepro paid principal and interest in the amount of $36,449.87 due under the Seven Million Dollar Debentures through a deduction of this sum from the Promissory Note.
So MOBL went down on low volume (4.1 million), up on very high volume (56 million in 3 days) and, according to you, this is not a good sign?
Somehow, I don't get it...
Last 8-K was on April 23, 2007 (21 day ago).
From 8-K: Since the last Form 8-K filed April 5, 2007 by the Registrant ("Mobilepro"), it issued a total of 21,646,296 shares...
So, MOBL can file a new form 8-K today and state the same as they did on April 23: Since the last Form 8-K filed April 23, 2007 by the Registrant ("Mobilepro"), it issued a total of...
Why do you think they delayed payments to Cornell?
I believe we need at least one strategic transaction (Davel, Kite IPO, ProGames/WNED merger, CLEC partnership) completed by the end of June. If not, MOBL will probably trade below a penny in a month or so.
From Jay Wright:
My Questions:
1) ProGames merger with Winning Edge. Proceeding according to the plan?
2) Kite IPO. Still working with BB&T? End of May still a reasonable deadline for something firm on the IPO?
3) Why don't you pay Cornell in cash? At least a few weekly installments before you accomplish some of your strategic alternatives.
His Answers:
1) The Progames deal is not yet closed. Certain closing
conditions including SEC clearance of the 14C and financing
have not yet been completed.
2) Still working with BB&T on Kite. We will announce things
as they are completed.
3) We are seeking to preserve cash for operations.
ProGames merger with WNED still on track?
May 18, 2007 is only a week away...
From 8-K:
As a condition of the Acquisition, Winning Edge will complete a 1 for 30 reverse split of its issued and outstanding shares of common stock reducing the issued and outstanding shares of common stock from 124,849,845 to 4,161,662. Upon closing of the merger, Winning Edge will issue an aggregate of 34,129,823 post reverse split shares of common stock to the shareholders of ProGames Network, Inc. After the merger, shareholders of ProGames Network, Inc. will own more than 85% of the issued and outstanding common stock of Winning Edge.
The Acquisition is subject to closing conditions including restructuring Winning Edge’s current debt, issuance of Series B Preferred Stock to Winning Edge Shareholders, and the completion of $2,200,000 in financing. The majority shareholders of both Winning Edge and ProGames have approved the merger agreement and subject to the closing conditions set forth in the Agreement, consented to the transaction. If the parties are unable to close the Agreement by May 18, 2007, either party may terminate the Agreement. The Agreement may also be terminated by consent of either party with a $250,000 liquidating damage payment to the non-terminating party.
MOBL is ON the reg SHO list again! Not good (imo). It usually means there is more donwside to come...
http://www.nasdaqtrader.com/aspx/regsho.aspx
bid 0.025 / ask 0.026 (eom)
In April MOBL filed only 2 Cornell related forms 8-K (on April 5 and April 23). Let's see if we get another 8-K tomorrow.
0.025 eom
Deadheded, excellent summary. Sad but true.
invitro, if my calculation is correct, our remaining 'Cornell' debt is $16.5-17 million.
We are ON the Reg SHO list again.
http://www.nasdaqtrader.com/aspx/regsho.aspx
Reg SHO List statistics for GTEM (updated 05/08/2007):
1st trading day on the pinks: 10/11/2006
Total trading days on the pinks: 143
ON the list: 107 days or 75% of total trading days
OFF the list: 36 days or 25% of total trading days
ON the list: from 10/11/2006 to 10/16/2006, from 10/23/2006 to 01/26/2007, from 03/05/2007 to 04/25/2007, from 05/08/2007...
Endless manipulation.
Please let us know what 'other (small) companies' incurred cost of $5 million to restate financials for 3 years.
More than 3 million shares traded in the last 30 minutes (mainly at the ask).
5 million shares traded in the first hour. Not bad! Hope we close above 2 cents.
crashman, you could be right as well. We don't know how big that naked short position was.
It's interesting to look at our share price on both dates. 01/19/2007 (the first day ON the list) the price was around 5 cents and currently we are below 2 cents. Nice profit for naked shorts!
I see on my chart a huge buy transaction (close to 5 million shares) on 05/02/07. It looks like a covering of a naked short position.