To all, I e-mailed Mr. Huff, CEO of GTEL, and asked about the S-8 that was filed and when we could expect to see the filing of his recently purchased shares. Mr. Huff responded with the following e-mail. I asked permission to post and he granted permission....rock
Reply-To:
From: "Timothy Huff"
To: "'Gary Rogness'"
Subject: RE: Shareholder Question
Date: Wed, 23 Jul 2003 10:23:46 -0400
X-Mailer: Microsoft Outlook, Build 10.0.2616
Importance: Normal
The S-8 that was filed was done so for employees in the St. Louis area and an Asian consultant helping us in the Australia market. Most of the stock was issued to employees that we laid off in our St. Louis operations. These operations are being moved to Miami and these employees have worked with the company for several years. We felt as management that a severance package was in order. I nor any member or management received any of the S-8 shares. My 6 million shares came from my own investment into the company and I purchased 144 stock that I will hold for one year until the restriction comes off. Then it will be able to be cleaned up if I wish. The S-8 is free trading stock that was issued to other parties. I hope this clear it up. As far as why it is not on the web yet, I forwarded the paper work to the SEC last week. They will then, after their review, post it on Edgar.
Tim
Chief Executive Officer
GlobeTel Communications Corp
Office 305.579.9922
Fax 305.579.9930
