Ok, after a day of thinking about Mide's post, which of course I appreciated, logic and common sense tell me that the vindictiveness of previous employees is about as bad if not worse than any I have ever seen. This sheds a lot of light on Vern's comments and the actions of many on this board.
There is no question in my mind that the Mexico venture was created through the efforts of Tim Huff due mostly to his relationship the the Peralta's. That relationship thrust Joe M into the picture and Joe became an intregal part of the JV which we now find out he was on the BOD of NMC. We also find out that a family friend of his is put in charge to represent Globetel's interest in the venture.
Then comes SEC findings that there is a problem with Centerline's financials which of course were the responsibility of Joe M. Joe M is fired due to those financials which now affects the JV.
Joe M is bitter over the firing and he along with other former employees do their best to destroy new management of the company and in essence drive the final nail in the coffin of Globetel.
Joe M's family friend with loyalty to Joe helps in this effort and with the help of "leaked" email to a few former employees interestingly gets posted on this board and elsewhere all further creating doubt and promoting bankruptcy so that former employees can come in and scoop up what is left of the company after bankruptcy.
Interesting plot and certainly a set back for Globetel. My questions however remain as to why the Peralta's allowed this to happen as the majority partner? Since Globetel is the minority partner where is the marketing effort on the part of the Peralta's? Why would Globetel allow this to happen on their end?
Guess we all have to wait for the next chapter to be released but the heartening thing for me is the reality that and again I emphasize it appears that HotZone works. It further appears that there remains a lot of interest in Sanswire and if Mide is correct the company has access to potential new financing thus will not be declaring bankruptcy which would be the easy way out.
Like most bagholders I remain holding my share of the bag as I have no real choice at this point. I do not know how close the ties were between Tim Huff and the Peralta's but at this point NMC seems to be our best hope at this point for HotZone. It is imperative that the company get its act together, rebuild any relationship damaged with the Peralta's, and update the shareholder on what is going on there and with Sanswire.
I do agree that this is poor management on Globetel's part but I also believe it is salvageable. The two main reasons for my investment in the company remain but as in the past execution remains a problem. I will say it is obvious to me, more so now, what a poor judge of people Tim Huff was. Although he had the vision he sure had the wrong people in charge and all those people now are proving that reality.
