UPDATES FROM IR
Spoke with IR, here is what rob told me:
1. The Russian deal is not dead, by any means. I asked a couple of times if he was positive the deal would go through and he said GTE was positive they can still pull it off.So there is still a chance pals. Don't write off this just yet.
The 2 leading banks are Deutsche Bank and UBS, being Deutsche the primary, there are also others banks involved. This is great news because 2 serious banks are involved. He aslo told me that Banco do Brasil, was going to do it first but then GTE and internafta decided to go with another because of the limitations the bank was imposing (not surprised since banco do brasil is a much smaller bank then deutsche or ubs)
They will not PR anymore until they get material news on the deal.
2. They will be testing the stratellite soon. no floating but actually make it go airborne. He confirmed that they have just assembled the whole ship with the equipment etc.. but they were not going to PR it because they did not think a PR titled "Bolt A sucessfully connected with part B" made any sensed, plus he did express concern investors were getting used to getting 2 PR's per week from GTE, and they wanted to slow it down a bit.
So I think this is positive on this front.
3. Regarding Mexico, he mentioned they have a joint venture but no actual signed contract. the mexicans first wanted to test the equipment and later commit if it works. He mentioned the testing is almost over and it worked.. so i think we could hear from Marcatel in the near future. Lets just hope it pans out.
This all my research which i wanted to share. This is a tough market but GTE has been down before. I strongly think GTE will rise above all this BS from Seth Jayson, the NY post and motley faggot to the stratosphere.
Come on guys keep your chins up!!GO GTE!!!!!!!!!!
