Globe Photos Inc (fka GBPT)

[tjak]

http://www.petel.co.uk/site/index.php?option=com_content&task=view&id=108&Itemid=50

Shareholder Update
Tuesday, 02 October 2007
On Monday 24th September the Company was notified via emails from shareholders that the Company’s outstanding shares had expanded by some 6,000,000 shares on the Pink Sheets ‘Company Information’ page. On inquiry the Company found that a serious breach of Pink Sheets online security had occurred on Friday 21st September at 10:02 am (EDT) when an unauthorised update was made.

On investigation it was found that an email had been sent via the Pink Sheets web site instructing an increase of the outstanding shares by 6m increasing the total outstanding by approximately one third. This email clearly had not been sent from Petel Inc. the email address was from petei.com and not petel.co.uk and the phone number given was a US number when the Company operates from the UK employing only UK phone numbers.

This was a deliberate and malicious attempt to try to discredit the management of Petel Inc, cause distress to our shareholders and to devalue our stock.

Our Transfer Agents (Island Stock Transfer) have confirmed that outstanding shares as at 17th September 2007 were 17,347,694 and at 25th September the number of outstanding shares remained the same, 17,347,694. We can categorically state that no additional shares have been issued to the officers of the company.

Pink Sheets have so far been unable to track the perpetrators of this malicious act however they assure us that steps have been taken to ensure this does not happen again. Pink Sheets tells us:

“Pink Sheets is currently developing a new company update form located in the secure portion of OTCIQ.com. Once it is in place, we will only accept updated company information via this service for any company that subscribes to OTCIQ. This means that we will not accept any information changes for your company unless they are submitted by someone who has the OTCIQ system credentials (login and password) assigned to your company. In addition, we are implementing an additional layer of security to OTCIQ itself …… “

We are encouraged to learn that Pink Sheets are rectifying this issue but we are alarmed that a member of the public gained access to the service undertaking a deliberate and fraudulent action such as this, especially when only authorised individuals are listed and recorded by Pink Sheets for all and any company filing. Needless to say, we are furthering our investigations and will put every effort into trying to identify the culprits, and when we do, we will prosecute in any way we can.

David Morton Phil Evans
Chief Executive Officer Chief Operating Officer


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