Well from what i understand the companies goal is to become current on filings. They are 50% complete after releasing two last week. Two more anyday is possible.
Next they intend hire a new CEO and be listed on OTC. That could happen this month as well.
Finally they intend to restructure all debt in better terms. I don't think shares hit the market before several of these things or all these things are done. And if R/M or buyout happens in the meantime that will be huge.
You know like I know that the reasons why any stock trades down here are for reasons that are not positive.
However, you know like I know that the reasons why we invest in a penny stock at these levels are for reasons that are positive and not because of the negative reasons. GLBT has plenty of them of which I did not create, but they exist.
Let’s talk about the good first then you can tell me if the good out weighs the bad. I will just center these thoughts on facts with maybe a pinch of speculation here and there since all has not been brought out yet.
The key is to find a penny stock that has major support from some entity/company with deeper pockets than ours here within these message boards. I think from reading the above posts, you can see that.
I think there is a major deal between GLBT and a major player that had to have GLBT prove to them their potential that will be revealed as GLBT becomes more transparent with their upcoming filings. I think this or these major entities will provide major support to get GLBT to the next level.
Major players don’t get involve with stocks trading in the triple sub-penny levels with the intentions of losing. I would guess that they have a better idea of how to get there than what we do since they are already there. Buying now means that you believe in the risk for gains that GLBT will make because of the potential major support waiting to be revealed behind Door #1.
** GLBT had their Chapter 11 Bankruptcy terminated. ** GLBT had a debt forgiveness/settlement/elimination granted to them in the amount of $36.4 million by Cisco/CSCO, MCI Worldcom, and GEF.
Do you think Cisco, MCI Worldcom, and GEF eliminated that debt for them because they felt sorry for them? Or because they know something we don’t know about GLBT’s potential?
Actually I don’t know, but that’s enough to make me think that GLBT is worth the risk. I’ve been holding shares for years and I will continue to hold as long as it takes to confirm that GLBT was a wise move or not.
Those shares you spoke of hitting the market have not and I think will not hit the market. It was filed in one of their 8-Ks back in 2006 that… The Investors have contractually agreed to restrict their ability to convert the Notes and exercise the Warrants and receive shares of our common stock such that the number of shares of the Company common stock held by them and their affiliates after such conversion or exercise does not exceed 4.99% of the Company's then issued and outstanding shares of common stock…
That piece was kind of hiding and buried in a filing for one to dig to find. What they are being so subliminal about is unknown and has been unknown for years, but now from their recent announcements, it’s all about to come out now. I felt it worth to continue holding my ticket for this show.
Back in 2005, I had questions about something similar to that too. I don’t recall if it was the IR guy or the CEO I had spoke with at such time, but I was informed that that won’t be an issue. See it as a preliminary deal until more finite terms are agreed upon for elimination. I was told that everything is dependent upon the financials getting done as it appears that the ball is rolling and everything nearly complete.
Look for a restructuring of that debt you speak of. I think if they can thus far have eliminated $36.4 million in debt from the likes of Cisco, MCI Worldcom, and GEF, then I think restructuring of the debt you speak of in the same manner is definitely not far from being out of the question.
Before you think that such is not so, $ 11,019,335 eliminates all of what you were referring to and if GLBT can get rid of $36.4 million in debt from the likes of Cisco, MCI Worldcom, and GEF, then do you really think they don’t have a plan for dealing with a little over $11 million? (Especially since they are making millions of dollars.) Personally, I like the odds.
But wait… all of the above are things that are facts so now I think it’s fair for me to speculate on something just a little. GLBT is making money as confirmed in their Operations Reports filed at the Pacer government site to the tune of $4 to $5.5 million per month (that was a fact). So why would they not pay off certain debt to have kept from creating those CDs?
I think it was because GLBT and their major support entities wanted to mask any and all Expenses by using funds from CDs to allow for any Expense to be captured from that funding. This would allow GLBT to be able to reflect a greater amount of Income on their Balance Sheets/Financials. Just look at how the .03 per share EPS was derived for their 2004 10-K just filed. It reflected over $400 million for Derivative Income (see links above to read about that). Imagine them filing an EPS of .03 per share for their next 10-Ks as they did with their 2004 10-K just filed. Even with a conservative PE ratio of 12 that's .36 per share. Remember in the filings it stated that the CDs are prorated based upon the price too so .36 ÷ .0001 = 3600 so you could then divide 685,039,000,000 shares by 3600 to equate to 190,288,611 shares as your new dilution concerns.
Keep in mind too that in the 2004 10-K just filed that the every single share of the OS and Float are accounted for to an amount above the OS and Float that is available for the public to buy. Now throw in the 2 billion+ that have been reported through the buyins.net report as of 1 May 07 and you have a deficit of - 2,060,673,574 naked short shares/FTDs needing to be covered. Consider too that under 245 million shares of GLBT traded since 1 May 07 (minus the last two days of trading) so I would have to guess that no covering has transpired for the GLBT naked short shares. See the post below: http://investorshub.advfn.com/boards/read_msg.asp?message_id=23552572
Lifegear, heck, I don’t create these situations, I just try to kill some brain cells in trying to figure them out. GLBT is like most any other penny stock in that it has its own story as to “why” it is an awesome play. I personally just think that GLBT is worth the risk for the variables and characters involved with their story. Hopefully I didn’t buy a ticket for a movie that puts me to sleep. Right now it has me sitting on the edge of my seat!
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