Faq's update
Question: Good Day, On August 20 , a poster by the alias name of
BOZO217 posted the following on the GTEL Raging Bull Message Board. Is the information correct/accurate that he claims ? If so when did GTEL plan to advise it's shareholders ? And how are planning to safeguard the investment $$$$ of GTEL Shareholders. Thank you In Advance for your anticipated Response.
Here is the posting by BozO217:
To Strikeitrich and all who read this Board.
You are correct when you assume that Management are not keeping
shareholders or the market informed. Two days ago IPW was put into liquidation by the Court in Australia, as a result of ongoing action by a number of creditors. The creditors had been waiting for over 12 months for GlobeTel to [honor] its agreement with IPW. GlobeTel has only ever delivered 1 network (Brazil) and more importantly never paid any income from that network to IPW.
I believe readers of this Board can come to their own conclusions as to GTEL Management being open, honest and [competent].
The implications of this development are also obvious for the future of
GTEL. The Shareholders of IPW have a very different view as to the Management skills of GTEL compared to some of the glowing views expressed on this Board.
I regret that this news had to come to readers in this manner as it was the responsibility of Management.
Bozo 217
Response: Well, as usually is the case, some of what he said is correct, most is
not. IPW is in liquidation and the court appointed administer is
working with IPW and the creditors to agree to a pay out that would
bring them out of liquidation. It is our opinion that this is a good
move for IPW, since it will clear up all their creditors at one time and
stop the distractions that have slowed its list. As far as the other
claims by Bozo, they are far from the facts and the agreements that have the IPW shareholder's approval and that form the basis of the
relationship between IPW and Charterhouse and then Charterhouse and GTEL. GTEL has stopped the rollout of networks to IPW until the issue of their list is resolved.
--------------------------------------------------------------------------------
Question: It is great to see a reduction of almost 50 million shares. Is
there a potential for additional shares to be retired? If so, how many
shares? Thanks for your continued efforts.
- Eric Stamps
Response: Yes there is an opportunity to retire more shares and we are working on doing so. The company is in the middle of fund raising and new shares will be presented to investors into the company so it is important that we manage the process.
--------------------------------------------------------------------------------
Question: As a long time investor, I have been very pleased with the recent announcements regarding GTEL, especially it's recent new high
stock price of $.047.
What concerns me is that the stock is never able to maintain interim
daily highs. Example, the stock price is back to $.03.
I realize that senior management is very busy with building this company. But how are we going to build stockholder support the stock price.
Last year I remember management stated that during 2003 brokerage
support would be expanded in the U.S. and Europe. Can someone explain what is currently being done in this area and what are the time frames.
-Stephen Ehrling
Response: The company will soon turn its sights on the Public markets. We are
planning in this area but we are trying to finish the fund raising and
the telecom plans for the rest of this year. I do realize your
frustration but this needs to be built one step at a time to make sure
that the structure will support the fruits of our labor. I am in the
beginning of the second year of a three year plan. Year two we will
focus on fund raising and the public markets as we expand our business.
--------------------------------------------------------------------------------
