Good Value Penny Bottoms

[mike306oh]

Newbies corner: GTE

"A source familiar with the matter, who requested anonymity, says Amex is considering delisting GlobeTel and wants to hear GlobeTel's reasons why the exchange should do otherwise.

GlobeTel has put out many a bold press release since late last year, hyping everything from a $600 million deal to build a WiMax wireless network in Russia to a way to call across the world for the same cost as if you were calling next door. The releases sent the stock as high as $4.49, giving the erstwhile Bulletin Board penny stock a Wall Street valuation of more than half a billion dollars, despite the company's modest revenue and history of losses."

http://www.amtddj.inlumen.com/bin/djstory?StoryId=Crl2UqaebqLqWmdi3mdm

Lesson: When these companies promisse you the moon, be very, very cautious, and learn to listen to people that might better recognise the fakes. Before the AMEX listing (following the 1:15 R/S), I tried to alert those poor fools, but they got mad with me. Likewise, more recently, the "XSNX-s fools" got angry with me after alerting them about that fake company - the price was close to $2.9 then (a few months back); and it's below 0.6 now, and heading toward subpenny, IMO.

Mike