FACT-N-FICTION

[ICEMAN1CO]

MY ANSWERS TO "BUSTERS" QUESTIONS AND A FEW COMMENTS........

The Following is off the UMINING website and first of all...the company is LEGALLY GLOBEX INC. NOT UMINING RESOURCES..they have not received approval to OPERATE a publicly held company Under this name to my knowledge......I called N.Y. Division of corporations and the name they should be operating under is GLOBEX inc.........so the following information taken off this site when not referencing Globex inc. is all make believe basicly......in addition to that they stated the following.......

"In February 2007 the Company announced that it filed all the necessary documentation to change its name to "U Mining Resources Inc.". The filing was made and approved by the State of New York and the Corporation will also file a Form14C with Governing and regulating authorities and request a CUSIP change"

***EXCUSE ME? I just called last week and the division of corporations for N.Y. stated NO FILING has been made..and that they only reserved the name.......and that the name will expire later this month.......

O.K.....NOW ON TO SOME BUSTER REALITY..........


1) How many shares are issued and outstanding?

34,703,583 outstanding shares.

THE rumored float of 3.5 Million increased to 8 Million..DILUTION?

2) I was told that this is a Pump and Dump stock, is this true?

"Buster" When a Pink Sheet Company commences its operations it is common and regulated practice that shares are initially sold to allow new shareholders to participate and secondly to fund start-up costs. Pump and Dump stocks usually have hundreds of millions of shares outstanding. Our Company only has 8,000,000 shares that are not under our control. In the beginning of January our stock was trading at $0.012 (i.e. 12% of a penny) and thus it is logical to surmise that the founders of the Company sold stock at a very low price per share to allow new shareholders to come on board and take advantage of the investment opportunity. Think about it!


***12% of a PENNY? Nice Math! LOL!!!

3) How does the Company finance its operations?

In January 2007 the Company 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, and 43-101 reports.

***WOULD THAT CONTROLLING SHAREHOLDER BE ONE ANDREA CORTELLAZZI?

4) What is a 43-101?

National Instrument 43-101 (NI 43-101) is a rule developed by the Canadian Securities Administrators (CSA) and administered by the provincial securities commissions that governs how issuers disclose scientific and technical information about their mineral projects to the public. It covers oral statements as well as written documents and websites. It requires that all disclosure be based on advice by a "qualified person" and in some circumstances that the person be independent of the issuer and the property.

A qualified person (QP) is defined in NI 43-101 as an individual who:
a) is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these;
b) has experience relevant to the subject matter of the mineral project and the technical report; and
c) is a member in good standing of a professional association.

NI 43-101, together with its Companion Policy 43-101CP and Form 43-101F1 Technical Report can be downloaded from the Canadian Council of Professional Geoscientists website.

Extract from: http://www.apgo.net/news/pr/FAQ_Amended.pdf

So I take it the Prospector Guy/Resteraunt dude does not qualify?

5) What do proven reserves mean?

http://www.cim.org/committees/CIMDefStds_Dec11_05.pdf

6) The Company announced that it has signed a financing agreement with Trimax Capital Group. How is this possible and what are the terms?

"Buster" Trimax Capital Group is a privately owned Alberta Corporation specialized in providing non traditional financing tools and equity-based joint ventures to development stage oil and gas and mining Companies via a structured notes financing method. Trimax works as an intermediate broker or as an equity partner in ventures with prominent international banks and financial institutions. Financing and equity is potentially available based on the proceeds from asset investments, including but not limited to: cash, proven reserves assets, 43-101 and other financing tools. Structured financing is a well-recognized and time-tested practice that is offered by many financial institutions.

***NON-TRADITIONAL FINANCING? Does that mean they give loans to guys with MULTIPLE NAMES?

7) What is structured financing?

1. A synthetic medium-term debt obligation with embedded components and characteristics that adjust the risk/return profile of the security.

2. An instrument whose value is determined by the price movement of the asset underlying the note. It allows investors to realize a profit from favorable price movements.

A structured note is a hybrid security that attempts to change its profile by including additional modifying structures. A simple example would be a 5 year bond tied together with an option contract for increasing the returns.

Hybrid products

What it Means
A security that combines two or more different financial instruments.

In Other Words
Hybrid securities generally combine both debt and equity characteristics. The most common example is a convertible bond that has features of an ordinary bond, but is heavily influenced by the price movements of the stock into which it is convertible.

New types of hybrid securities are being introduced all the time to meet the needs of sophisticated investors. Some of these securities get so complicated that it's tough to define them as either debt or equity.

Structured Financing

What it Means
A service offered by many large financial institutions for companies with very unique financing needs. These financing needs usually don't match conventional financial products such as a loan. Structured finance generally involves highly complex financial transactions.

Extract from: http://baystreet.investopedia.com/terms/h/hybridsecurity.asp


***SHORT ANSWER--DILUTION! Maybe Mr.Cortellazzi can give us a DEFINITION OF what DILUTION IS?

8) When will the Financing be available?

As soon as the 43-101 and lab results have been completed.

****Kind of like the Ethanol Deal? NEVER?

9) Someone said that only Canadian Companies could claim territories, how could Globex acquire claims and cells?

"Buster" For the past four years, Québec, located in the northeastern part of North America, has been rated the most attractive jurisdiction in Canada for mineral exploration investment, according to a Fraser Institute survey. Québec ranked 1st worldwide in 2001-2002, 2nd in 2002-2003, 4th in 2003-2004 and 3rd in 2004-2005 for its exploration investment attractiveness.

First of all, Québec has tremendous mineral potential, as indicated by the presence of several world-class ore deposits. Consisting of 90% Precambrian rocks, it is renowned for its precious and base metal production, namely for gold, copper, nickel and zinc. Moreover, Québec is the world's second largest producer of niobium and titanium slag, and is also the world's largest exporter of aluminum, and the second for magnesium.

One of most explored territories in the world

Québec's territory is vast and open to exploration as recent diamond, base metal and precious metal discoveries indicate. Exploration in established mining camps continues to yield very promising results, the latest example being a major discovery of base and precious metal mineralization at the LaRonde mine in the Abitibi region. Active mining titles cover less than 5% of Québec's surface area. Thus, vast expanses of land have yet to be explored in detail.
The government wants to attract new investments to develop Québec's mineral wealth, from the Far North to the U.S. border, and invites companies from abroad to come discover its true potential.

Mining regime

As opposed to what may be common practice in other states, the mining regime in Québec is based on the principle of free mining, which provides universal access to the resource. Thus, the first to obtain a mining title automatically obtains the exclusive right to search for mineral substances and the assurance of obtaining a mining lease upon request.

Mining tax system

Québec's mining taxation system is one of the most advantageous in Canada, featuring one of the lowest taxation rates, and a 12% credit on duties refundable for losses for exploration, deposit appraisal and mine development activities that is unique in Canada. In addition, Québec offers businesses having establishments and that carry on activities in Québec a refundable tax credit for mineral exploration activities, covering up to 45% of exploration expenditure. Québec also supports the industry at each stage of its development, from discovery through processing.

Expertise and know-how Québec's strengths include not only its raw materials, but also its highly-trained workforce, its training facilities and its specialized research centres. Québec is a world leader in the collection and processing of geo-scientific data, and its spatial reference database Sigeom is unique in its category. In addition to reducing the time needed to obtain data, Sigéom can make an exceptional contribution to the decision-making process.

Infrastructures

• Highly-developed road and rail networks.
• Three international airports.
• Several sea ports with access to the Atlantic Ocean.
• Abundant, competitively priced energy

Extract from www.mrn.gouv.qc.ca/

***WOW HOLD THE PHONE BUSTER.......I THOUGHT YOU WERE MOVING TO FLORIDA BECAUSE OF THE HIGH TAX RATE OF OVER 50%? MAKE UP YOUR MIND WILL YA!!!!!!!!!

10) I was told it's impossible to drill in the winter because it's too cold and there is too much ice on the ground,
how can Globex have teams on the field?

"Buster"First of all, winter is the best time to drill since it is easier to move equipment around through ice-covered roads and take short cuts on frozen lakes. A majority of the key mining area is in swampy surroundings. Modern drilling equipment is made to drill through hard rock, so don't you think it can drill through ice? Think about it!

Take a look at a US OTC company drilling during the winter:

http://www.uraniumstar.com/download/Bulls&Bears-2007.pdf

***BUSTER DO YOU REALY THINK THEY WILL EVER EXTRACT ANYTHING BESIDES HARD EARNED MONEY FROM UNSUSPECTING SHAREHOLDERS?

11) I've heard it's so cold in Ungava Bay; when planes fly over the territory they freeze instantly. Is this true?

"Buster" Every day planes leave JFK airport destined for China. They fly over the North Pole 30,000 feet above the ground. Where do you think it's colder? Think about it!

***BUSTER THAT WAS A STUPID QUESTION

12) When will the Company begin extraction?

The first task is to assess the value of the proven reserves and then secure non-dilutive financing for working capital such as: line of credit from financial institution, structured notes, and other financial tools.

***THE FIRST TASK is USUALLY NOT WHAT THE END RESULT IS..DONT COUNT ON EXTRACTION.......EVER......

13) Does the Company have staff and equipment to begin extraction?

The Company is specialized in exploration. When substantial discoveries are made the Company can either employ external services that are abundant in Northern Quebec or enter into joint ventures with operating Companies. Obviously the better the Company's access to cash, the more favourable or advantageous JV agreement terms it can secure.

***BUSTER YOU ARE NOT ALLOWED to TALK or see the staff and you will not be allowed to know who is running the company either.....its a SECRET!!

14) The Company announced moving its headquarters to Orlando, Florida. I heard that the decision was largely based on management's desire to bask in the sun, please explain?

"Buster" The first reason why the Company is moving to Orlando, Florida is to facilitate bank transactions and operations between a US Corporate account to a Canadian operating account. The Royal Bank of Canada offers combined services allowing management to receive proceeds and investments in the State of Florida, and easily wire funds to our Northern Quebec offices for operational purposes. Secondly, the relevant corporate tax rate in Florida is below 30% as opposed to more then 50% in Quebec. So when the Company begins to generate profits it will have a serious impact on shareholders' dividends.

Now if we would have chosen the State of Nevada, for example, do you think the "bashers" would have said "they are moving to Vegas to gamble"? Think about it!

***SEE ITEM 9 ABOVE..ya just contradicted yourself....is it the best place for taxes or the worst?......make up your mind...and if ya moved to nevada there is a cozy little trailer on 61 shady tree lane, carson city,nevada that appears to be appropriate for a corporations listed address!

15) Why can't we speak to the new Board Members?

Because they are external, objective and reputable individuals who have joined our team to assist in maximizing our growth and profit potential as a development stage company, according to Corporate governance directives set by the Board of Directors. In addition, they make a significant contribution to the Company's knowledge pool with their respective business expertise, work experience and contacts. They will be attending 6 meetings a year and will receive stock or option compensation for their work, which is common industry practice. They are non- executive directors and an additional 3 members will join the board including: a CEO, a CFO and a geologist.

"Buster"Considering the numerous attempts from external parties to contact and perturb our new board members in their daily responsibilities, the Company would like to inform everyone that it will create an email box which the new board members will be able to access at their convenience, and that under no circumstances should they be bothered in their own duties. Think about it!

***BECAUSE they ARE GAGGED LIKE THE T/A or they may not know there name appears on this website....I would recommend every shareholder attempt to contact them ASAP.....NO SECRETS!

16) I received an anonymous email bashing your Company, and read the same comments on investment boards, is it true?

"Buster" First of all, on March 23rd starting at 5 am. a massive emailing and posting campaign began simultaneously, which originated from different sources. So is this kind of practice done by a defender of shareholder's rights or by hostile concerted parties? Think about it!

Secondly, a lot of our shareholders were advised to sell shares in the Company by the same parties who presented them with another stock recommendation. Think about it!

Since the beginning of the year our Company has completed a significant amount of work; accomplished several corporate goals; and informed its shareholders of its activities on a weekly and continuous basis by: issuing press releases, creating and maintaining its Web site, answering phone calls internally, responding to emails, etc.

The corporation is up-to-date in its filings and has always informed the public and shareholders that we are in the development stages and disclosed all forward looking statements and risk factors as per OTC regulations.

The Company also hosted several shareholders in our offices, and we are currently in the process of preparing financial statements and disclosing documents.

In your opinion is all this signs of a real Company? Think about it!

***FILINGS UP TO DATE? LIKE WHAT? ITS a PINK SHEET COMPANY NO FILING IS REQUIRED....except for the one you are in DEFAULT on SINCE 2001...it appears the N.Y. Division of Corporations has been attempting to get the information on who the CEO is as well as required by N.Y. Corporate LAW.....Globex, Inc is currently in violation of that law as of last week.....

17) Why did the stock price move down from $ 0.39 to $ 0.10?

Firstly, the Company has a duty to focus on the operations and not on the stock. But obviously it has an impact on the potential ongoing negotiations and financing. If we would have to make an educated guess, the above-mentioned email bashing campaign more than likely has something to do with it.

***The Float is now 8 Million....I would start with a DILUTION Scenario first.....

18) How does the Company plan to overcome that issue?

1) Continue to accomplish our duty by focusing on operations.
2) Continue to inform our shareholders and to increase the public awareness on our Company.
3) Continue to conduct research on our properties and prepare all geologic reports and analysis to financially leverage our assets.
4) Nominate additional qualified executive officers and Board members.
5) File all necessary documents to uplist our Company's stock.
6) Employ professional legal services to protect our Company against illegal interference.
7) Sign an Investor Relation (IR) agreement with a credible organization.

"Buster" We received numerous proposals from IR firms who were promising the moon and claiming that they knew large groups of investors. They would take "Discounted Free Trading Shares" and so on and so on. Curiously some of them utilize these investment message boards to recruit investors. Even more some of them were sending emails on March 23rd at 5 am. Think about it!


****FWD LOOKING.....NO SUBSTANCE..........

19) What does naked shorting mean?

The Practice

Short selling is the practice of borrowing stock, then selling it in hopes that the price will go down and it can be bought back at a lower price, generating profit and allowing one to return like shares for the borrowed ones.

"Naked shorting" refers to "shorting" a stock for sale without first borrowing it.[1] The risk that one may not be able to then acquire the shares needed to deliver on the sale is a contributing factor to the controversy surrounding this practice.

On American exchanges, pursuant to Rule 203(b)(2) of Regulation SHO these short sales of securities may be legally permitted: (1) broker or dealer accepting a short sale order from another registered broker or dealer; (2) bona-fide market making; (3) broker-dealer effecting a sale on behalf of a customer that is deemed to own the security pursuant to Rule 200[2] through no fault of the customer or the broker-dealer.[3]

http://en.wikipedia.org/wiki/Naked_shorting

*** I knew it would not be long until the company threw that out........that is a common practice for companies to use the NAKED SHORTING EXCUSE when the PPS is FALLING......REALITY is it is almost always DILUTION..........

20) Conclusion

Finally, the Company would like to thank all of its shareholders who continue to support us and promises that we will use all of our best efforts to build shareholder value.

As a growing corporation we will take all the necessary steps to protect the interests of the Company.

Thank You.

***Companies always thank the shareholders.....they are paying the BILLS!!!!!!!!!! They may apologize as they close the doors and move on to the next HOT sector and open a brand NEW promising Company!!

The Above is all my opinion/speculation..do not take my comments as investment advice.......do your own DD and verify the FACTS....and as always CAUTION IS EXTREMLY ADVISED!!!!!!