Harbs, get a load of this, GBBI. Not a bounce play but has a 7.5 million float and is up hard and heavy. In @.23 average. Pigs do still fly. I did this "DD" LMAO
(BSNS WIRE) President's Letter to Global Bancorp, Inc. Shareholders and Other
President's Letter to Global Bancorp, Inc. Shareholders and Other Members of the
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--GBBI--
Global Bancorp, Inc. (Pink Sheets: GBBI) The
following is a statement issued by Romeo (Ray) Prescott, President and
CEO of Global Bancorp, Inc.
Dear Shareholders and Other Members of the Investment Community:
I am pleased that the corporate circumstances of Global Bancorp
Inc. now make it relevant and timely for me to write this President's
Letter to you - our first such contact. This relevancy and timeliness
stems from the considerable progress that Global has made, especially
over the past two years, and I want to share this good news with you,
while making it the central theme of this Letter.
Global Bancorp Inc. (Global or the Company) is incorporated in
Nevada (U.S.), was formerly known as Kismet Energy Corporation, and
has its corporate office in Vancouver, British Columbia, Canada.
Global's corporate objective is to become a leader in advanced digital
media technologies, including Video-on-Demand, Voice Over Internet
(VoIP), and a smart card bank platform for future integrated commerce
and e-commerce applications, such as Web-Enabled ATMs. The Company
plans to do this by assembling, managing, and funding various digital
technology/platforms and licenses, which enable us to focus on
vertically integrated marketing strategies. Global will concentrate
its resources in the following markets:
Backbone services to Wi-Fi service providers.
Wireless connectivity to multi-density residential buildings,
thereby delivering Internet access and VoIP.
Digital broadcast services, offering interactive TV and
Video-on-Demand.
Global Bancorporation has approximately 7,400,000 shares
outstanding. These publicly trade on the Over-the-Counter Pink Sheets
market in the U.S. under the symbol GBBI. The vast majority of shares
are held by the corporation's founders so the share float is presently
low, which limits market-making activities by OTC broker/dealers. GBBI
shares currently sell near $2.00 per share and have traded within
approximately the $2.00-$0.05 range over the past year. As Global
presumably grows in revenues, assets, and other financial measures, it
is our plan to develop eligibility to seek listing on the NASDAQ
market. This would help broaden investor awareness of Global and
increase the liquidity/marketability in the trading of its shares.
Our principal technological capability lies in the application of
licensed and unlicensed radio spectrum, network hardware, and the
carriage of voice, video, and data traffic. Ultimately, we believe
what will set us apart is the effective bundling of these applications
- voice, video, and data communication traffic - on an IP platform.
This will be a truly convergent platform built on today's
technologies, not on yesterday's antiquated infrastructure. Our new IP
platform will permit consumer and business users to view "what they
want / when they want / where they want." Accordingly, we believe we
have solved the "last mile" problem in delivering multiple content to
residences and businesses, by utilizing state-of-art wireless
technologies. While we do not want to sound boastful, Global would
then have created a paradigm shift in telecommunications and in
broadcast; namely, to view on demand. In addition, we believe Global's
core technology will also have major opportunities for application in
a separate market - the huge consumer banking arena.
We think our grand vision is laden with high profit potential for
Global and its shareholders; but vision alone is not enough. We
recognize management must successfully execute with realistic
strategies and tactics. So, let me tell you about two recent concrete
and exciting developments.
Our Vancouver Broadband Wireless Network
In November 2003 we closed on the purchase of assets of a defunct
wireless operator. Vancouver is a large Canadian city with a total
population of about 1,100,000, comprised of over 400,000 residences
(single and multi-family) and some 50,000 small/medium-size
businesses. Our primary product will be the installation of our
broadband wireless network in multi-density residential buildings,
which will provide voice, Video-on-Demand, data, and personal banking
services. We expect owners of these properties to license our unique
bundle of high-quality services and to become resellers. (Global will
also wholesale to ISPs and to businesses not in telecom). We plan to
commence a Beta trial this summer in three residential high-rises in
downtown Vancouver and confidently anticipate an enthusiastic and
positive result.
Our Pending Acquisition of Macro Communications Inc.
We announced the signing of a Letter of Intent last week for
Global to acquire Macro Communications (Macro) and we expect closing
shortly. Located in Duluth, Georgia, Macro is a facilities-based
Application Service Provider. Its business lines include: prepaid
calling card platforms, international gateway and arbitrage services,
enhanced IVR solutions, co-location services, and universal Point of
Sale Activation Services. Macro had revenues in its last fiscal year
of $19 million and total assets of $3 million, which would bring some
immediate financial strengths into Global. Longer term, strong product
synergies should appear, including the distribution of new products
through existing marketing channels and the advent of an immediate
cross-border presence in the U.S. Also, very significantly, the
talented management and staff of Macro, led by David Wilkie (CEO),
will be joining the Global fold.
Other attractive initiatives are also on our drawing board for
later time frames. Most importantly, I think Global has created a
superior combination of integrated technologies and an insightful
business plan. I look forward to guiding these winning attributes to
successful and profitable fruition for Global over the next few years.
Respectfully,
Romeo (Ray) Prescott, CEO
This release contains forward-looking statements that involve
risks and uncertainties. The company's actual results could differ
materially from those anticipated in these forward-looking statements
as a result of certain factors. This announcement does not constitute
an offer to sell or the solicitation of offers to buy any security and
shall not constitute an offer, solicitation or sale of any security in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
INDUSTRY KEYWORD: ADVERTISING/MARKETING ADVERTISING/MARKETING ADVERTISING/MARKET
SOURCE: Global Bancorp, Inc.
CONTACT INFORMATION:
Global Bancorp, Inc.
Mark Wolkos, 480-348-9282
*** end of story ***
AI
