Instead of retracting? Hmmm, study this paragraph closely. Note who is vouching for Uli's claims - his new partner and the former CFO whose financials are being restated:
"You are further aware that in January 2006, GlobeTel loaned my client $175,000 because he was unable to sell the first tranche of his shares because your company had a restriction on them. Because GlobeTel had a restriction against loans to officers of the company, GlobeTel booked the loan against the last payment of shares that my client was due, and the $175,000 was not considered a loan at all, but took the form of an installment of the monies owed him. GlobeTel properly reflected that the $175,000 was not a loan on its financial statements filed with the United States Securities and Exchange Commission. Mr. Larry Lynch, formerly Chief Financial Officer of your company, will be executing an affidavit confirming the veracity of the above facts."
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