Correct me if I am wrong but itseems only very recently has there been mention of a Letter of Intent.
If there was one then it would memorialise the intentions of the parties to enter into a formal contract within a specified time (usually 30 -90 days)if certain conditons were met.
One of those conditions would normally be the condition that a performance bond would be put in place against an advance payment of (usually)10%.
As the Russian stated they would be paying more than 10% as a downpayment. Was the problem with the Russians coming up with the money or the financial institutions reluctance to issue guarantees to a yet unproven company ?
So far GTE have not installed and proven one WIMAX system in a metro area.
This gets curiouser and curiouser.
I want to see that Letter of Intent. So do the lawfirms lining up to sue - it should stop any action.
I also want to see pics of the 'tethered' test which I seem to recall had been announced as completed some time earlier this year.
Is this a re run of last years pain of failed promises. I hope not. The faith and trust which GTE shareholders have given the company certainly dont deserve that.
mide, please do raise heck! Living on the west coast and working fulltime, it is impossible for me to attend. I am counting on Globetel investors like yourself to bring up valid points as needed at the shareholders meeting.
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