A few questions Vern,
You state that, "Right up to March 15, 2005 Huff's PR's pertaining to the Strat were 100% factual." & "Why are they nearly a year behind schedule?"
Were statements made prior to March of 2005 factual in which Huff announced projected launch dates as early as January of 2005 and that Sanswire was working with NASA, USAF, and the FAA?
More specifically. . .
Was his statement factual when he stated, "Sanswire plans to launch a high-altitude airship into the stratosphere by the end of January, 2005."?
Was he factual in mid-January of 2005 when he revised the launch date, "We have scheduled the launch date for the Stratellite prototype for March 25, 2005."?
How could he come up with those dates when you state that, "Gas cells for the S-1 had not been fabricated as of 3/15/05 nor had we purchased one atom of helium."?
How involved was Rick Searfoss when he was added to the Board of Directors in January of 2005? Did he provide, "technical inputs, perspective, and representation to the public," as promised or did he just provide one appearance as a speaker for a Sanswire dog & pony show?
How involved did NASA become (and not their former employees) when Huff announced a Jan 2005 partnership with NASA in which Globetel would receive, "access to additional capable personnel and technology, accelerating the growth of both GTEL and our wholly-owned subsidiary, Sanswire Networks LLC. . .The agreement will provide NASA and other agencies the access to the Stratellite for the installation, integration, and deployment of NASA sponsored sensors and other projects. Under the proposed agreement, other government agencies may, in cooperation with NASA Dryden, utilize the Stratellite for their projects and requirements."?
Who was the lead engineer during this period? Who was giving Huff the impression that would cause him to issue this statement in March of 2005, "The high altitude record for a dirigible is around 20,000 feet. Our airship will more than double this record and perform operations never before done at high altitude. Once these tests are completed in April and May, we will immediately begin the construction of the full commercial vehicle that is scheduled to launch late in the fourth quarter of this year (2005). We will launch and recover Sanswire One multiple times over a 60 day period."?
Based on these statements and the following, how can you claim that the Strat program is, "nearly one year behind schedule"?
--Nov 2004 Globetel News Release
March 23rd to 25th (2005) - the scheduled launch window. We will be updating the public a week or two before the launch to plan a public viewing of the airship and the date of the launch. There will be a video link on the GlobeTel website of the launch.
--Feb 2005 News Release
While others are scheduled for 2007 and later for their prototypes, we are launching ours now.
-- March 2005 Letter to Shareholders
A new and improved Sanswire One will make its first high altitude flight in August or September, 2005. A full commercial airship deployment is planned for 2006.
I'd say the project was over two years behind.
As a side note, I believe you previously stated that you didn't receive promised funding for the buildout of Strat project. Globetel, in their financials, state that you received:
August 23, 2004 $70,000
September 23, 2004 $50,000
October 25, 2004 $30,000
November 23, 2004 $30,000
They also claim that they provided you, "in excess of the above amounts, including approximately $30,000 through September 30, 2004, and an additional approximately $60,000 through," November of 2004. Did you actually receive the funding for the project as the company claims?
Globetel finacials state that you were issued two million shares in 2004 for your Stratodyne assets. Are you still holding those shares?
Did you (Stratodyne) and Molen ever receive the additional millions of escrowed shares set aside in the Sanswire purchase agreement even though you never met the conditions of a Strat "commercial launch" date of December 2005. What brought about the later redefining of "a successful commercial launch?" and what has gone on since then in regards to these shares (Us ordinary investors have been denied such info since Globetel stopped reporting financials)?
AI
