From the last 10k: Globetel said:
Wireless Network in Mexico:
"At this time, the Company cannot determine whether or not this venture will be successful in its current form"
IN OTHER WORDS A FAILURE!
Sanswire projekt:
"We are aware of other companies that are also developing high altitude platforms similar in nature to our Stratellite project. Our competitors, though, may have more resources available to develop their respective products. Furthermore, since the Sky Sat and Stratellite project are currently in the development stage, there can be no assurance that the project will successfully complete the development stage and result in a commercially viable product. Even if a properly functioning, commercially viable product is established there can be no assurance that revenues will be achieved from the sales of Stratellites or Sky Sats or that the costs to produce such revenues will not exceed the revenues or that the project will otherwise be profitable. There can be no assurance that we will be able to successfully achieve the results we anticipate with this project.
IN OTHER WORDS A FAILURE!
ITEM 3. LEGAL PROCEEDINGS
The staff is also considering recommending that the SEC authorize and institute proceedings to revoke the registration of Company's securities pursuant to Section 12(j) of the Exchange Act.
SOUNDS... THE COMPANY IS DONE!
