GlobeTel Completes Expansion and Upgrade of the Los Angeles Telecommunications Facilities
FORT LAUDERDALE, Fla., Jul 08, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it has upgraded its telecommunications center in Los Angeles by acquiring additional state-of-the-art telecommunications equipment and that it has completed its move to a larger facility. The new facility has over 6,000 square feet and has the capability of terminating over 500 million VoIP/TDM minutes per month. In addition to the ability to accommodate the company's current wholesale carrier traffic, the Los Angeles network will accommodate the expected volume from the pre-paid calling card function of its Stored-Value Card program and IP phone operations and still has expansion capabilities to enable the handling of the wireless traffic from the Company's Stratellite and HotZone Wireless operations.
Timothy M. Huff, CEO of GlobeTel, stated, "The expansion of our Los Angeles facilities is a planned growth move for us to meet our planned growth objectives. The expansion illustrates the way our independent business units interact and complement each other. I am exceptionally pleased with the progress of all of our business units and we are looking forward to continued business growth and increases in revenues. All four of our business units are operating as planned and I am pleased with their continued progress."
About GlobeTel Communications Corp.:
GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services Company. GlobeTel operates business units in Stored Value debit cards, as a certified MasterCard processor, the sale of Carrier grade VOIP of Long Distance to major Long Distance re-sellers, VOIP Technology and development, and high altitude airship research and development. These self-contained business units were developed to operate independently of each other. The symbiotic relationship however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.
Operating on a global basis, GlobeTel has historically focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.
Additional information concerning other areas and topics of GlobeTel can be found on our web site at http://www.globetel.net
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Placement Act of 1995. The words "forecast", "project", "intend", "expect", "should", "would", and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements. The above are more fully discussed in the Company's SEC filings.
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