SEBASS,
Love the fact they aren’t paying cash for any acquisitions, just shares.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 6, 2005--GlobeTel Communications Corp. (AMEX:GTE) today announced that it has acquired the assets of HotZone Wireless, LLC (HotZone). HotZone is an advanced developer of WIMAX and extended range WIFI Systems with operations in the United States and Europe. The acquisition was paid primarily in GTE shares and cash. The agreement calls for certain performances by the sellers to achieve the full consideration.
Also, approx. $350K cash went into CGI...rock
As of December 31, 2003, the Company had remitted $302,300 to ATC and ATC's assignee. The Company remitted an additional $25,000 in February and $25,000 in March 2004 for a total of $352,300 and as of December 31, 2004 as partial payment towards the completion of the transaction.
