Here you go IJO,just to clear it up a bit.It's just my opinion that GTC doesn't generate recurring revenue from the appliques,haven't any proof of this and the revenues aren't detailed enough to figure it out at the moment. Also imo,is that Eactcor is also a company owned or created by Mr Phipps,possibly could spend 40 plus dollars with the SOS of the state it's registered and the agent to prove this out.Before the purchase the old GTC website made mention of an engineering firm in Maryland.Below is a post from BBB on the subject and have read this on the old site. ==============================
GTC is a privately owned company headquartered in New York with an engineering facility in Maryland and sales offices in the US, Europe and Asia.
6.05. Shares of Buyer. At or prior to the Closing, the Company shall assign or otherwise transfer to Global Telesat Services Corp. (“GTSC”) all of the shares of Buyer Stock owned by the Company as of the date hereof (the “WSGI Shares”) and all of the warrants to purchase shares of Buyer Stock owned by the Company as of the date hereof.
6.06. Appliqué in Easton, MD. At or prior to the Closing, the Company shall assign or otherwise transfer to GTSC an appliqué owned by the Company that is currently located in Easton, Maryland (the “Easton Appliqué”), such that as of the Closing Date, it shall own the Easton Appliqué. Notwithstanding the foregoing, however, Phipps hereby agrees, on behalf of GTSC, that Buyer shall have the exclusive right for a period of three (3) years from the Closing Date to purchase the Easton Appliqué from GTSC for a purchase price of $500,000 if and when Buyer, the Company or any of their Affiliates enters into a contract for the construction of a ground station (including a contract for the construction of a ground station in Afghanistan).
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