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[QUOTE]Originally posted by ehya: [QB] October 18, 2006 08:34 PM Eastern Time GlobeTel Communications’ Chairman of the Board Issues Statement FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--GlobeTel Communications Corp. (OTC:GTEM) announced that the Chairman of the Board of Directors, Przemyslaw Kostro, has released the following statement: Dear Fellow Shareholders: I return as Chairman to deal with the recent events that have had a negative effect on the Company and to resolve them — a goal which I am working toward. Also, I’m moving the Company forward by helping with additional investments that will assist us during this rebuilding process. I can assure you these funds will be used responsibly and focused on bringing tangible benefits to the Company and the shareholders. I believe in our technology and in the abilities of Mr. Peter Khoury, our new Chief Executive Officer, or I wouldn’t continue to bring new investors into a difficult situation. Peter Khoury is a proven talent who has worked with telecommunications companies throughout the world and has helped roll out a range of products. He has the expertise and the vision to create and implement a business plan that may require many immediate changes and sacrifices on our part, but will ultimately deliver our exciting technology and products to market with the best possible chance for acceptance and success. We will review each and every fiber of the Company’s current business channels in order to find the best way to create shareholder value. The production of tangible results has never been so important and this is our priority during the rebuilding process. I realize that many of you have questions, however I would like to communicate to you through our actions instead of just our words. As I previously stated, our challenges are many and they should not be underestimated, but we will work hard and work smart. This is my commitment to our shareholders that have invested in our Company in good faith. Sincerely, Przemyslaw Kostro Chairman of the Board 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 Securities Litigation Reform 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. [/QB][/QUOTE]
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