FACT-N-FICTION

[Bull Trader]

NEW PR out by GLXI. Here's my take on it.

More forward looking statements from the boys running this shop out of their residential home at 1212 Redpath Crescent.

GLXI (.16) Announces Decision to File Disclosing Statement Form 10 to Attain Bulletin Board Status

PR Newswire "US Press Releases "

NEW YORK, March 27 /PRNewswire-FirstCall/ - Globex, Inc. (GLXI: Pink Sheets) today announced that it has ultimately decided to file form 10 in order to become reporting and attain OTC Bulletin Board status. After evaluating the various potential measures to attain this goal and subsequent to legal and accounting counsel, management believes that the best method to uplist the Company's shares in a realistic and timely manner is to file an internal disclosing statement via form 10.
interesting that the company has decided to come out with this statement ONLY after admitting on the interview with MN1 that they were pressured by "spammers" to "uplist" when in fact any GOOD company would release this information as a benefit to its shareholders - not in response to "spammers"

This concerted decision involves the completion of audited financial statements; the disclosure of current control stock positions; and the nomination of executive officers, namely a CEO and a CFO.
if its completed, then why not release it? And why has the company taken so long to merely relase the names of the officers of this company??

Considering the recent orchestrated email spamming campaign and multiple posts on investor message boards against Globex, initiated by external competing organizations who recommended GLXI shareholders to sell their stock and buy another Company's stock, management affirms that it will take any steps necessary to protect shareholder value and has decided to inform all its shareholders of the following:

There are a total of 49,203,583 shares issued and outstanding. A sum of 15,000,000 shares has recently been issued to cover acquisition expenses, consulting fees and the compensation of key staff; all of which will be included in the disclosing statement. The Company neither has a current need nor does it intend to issue more stocks.
Gee, I wonder what the FLOAT and A/S is??? Why is there no mention of it???? Why is the TA "gagged"?? Why no PR about any of these so called "expenses"?? As a shareholder I sure would like to know if the company was selling 15 million shares on the market!!

The Company has received a $150,000 loan as a payable note advanced by a controlling shareholder for the payment of consulting fees, site surveys, geologic analysis and other operating expenses. The note bears interest of prime + 3% and is payable when the Company obtains financing from financial institutions based on its proven reserves.
interesting that the company still needs a 150k loan to cover costs when they just sold 14.3 million shares for upwards of $3,000,000!!!

As disclosed previously, the Company has reoriented its bioethanol operations under a licensing agreement structure and has concentrated its development efforts in North America, subsequent to unsuccessful attempts to obtain permits in an ethical manner in Brazil.
I never saw this disclosed anywhere except in the email to the shareholder posted and then removed from the board shortly thereafter. Last PR I could find regarding ethanol says the company is making "progress".
http://biz.yahoo.com/iw/061206/0192082.html

Based on recent positive discoveries and acquisitions, the Company has initiated negotiations with financial institutions to fund its working capital requirements by leveraging its assets. The Company anticipates that it will secure this financing as soon as the external third party validation of its reserves is finalized.
thats funny they dont mention trimaxcapitalgroup here. Maybe they realize their cover there is blown!! Also, interesting that now the company needs to "validate" their reserves! Interesting choice of words considering from all their past PR's they indicated clearly what the reserves were.

Finally, management would like to take this opportunity to thank all shareholders for their support and assure everyone that it will take all the necessary steps to protect the Company and achieve our common goals, including maximizing shareholder value and attaining profitability.
Selling 14.3 million shares in 2 weeks sounds like real shareholder value to me. Just look at HRRN and COHG to see how the guys running this company "maximize shareholder value.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

SOURCE Globex, Inc.
This is the only source of the information available on this company. They like to keep it that way for a reason