What about the statement from Luis' defense?
"After over a year’s investigation crossing two continents, the SEC was apparently unable to elicit evidence sufficient to charge GlobeTel’s executives who devised an “off-net” revenue program with any securities violations, undoubtedly because of these executives’ refusal to cooperate with the SEC."
Here is Luis' defense making a statement on 1/11/2008. Does he know something that we do not?
If Globetel did not cooperate, I would think Joe or Luis would have done so in order to bring down any guilty individuals along with themselves. But here is the statement on 1/11/2008, months after Joe and Luis received their Well's, and still no SEC charges.
Just as some are accused of ignoring the apparent guilt of GTEM, the argument could also be made that some are ignoring the possibility that minimal or no SEC charges will be filed.
If GTEM can avoid SEC charges just by refusing to cooperate, I think that sets the bar for all companies under SEC investigation. The problem with that is for every group refusing to cooperate, there is a group who is willing to do so or someone steps forward as the whistle-blower. There has been plenty of opportunity for someone to present compelling evidence to level SEC charges, but nothing as of yet.
Whatever happens, GTEM still needs a viable business to increase shareholder value. They have shown items of potential value, but without any sort of dollars tied to the technology, we have no way of knowing what they will mean to the bottom line and this company's future.
AI
