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GLXI...rumors of big acquisition!
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[QUOTE]Originally posted by 10of13: [QB] March 27, 2007 - 10:32 AM EDT Globex, Inc. Announces Decision to File Disclosing Statement Form 10 to Attain Bulletin Board Status Company Takes Immediate Action to Protect Shareholders' Interests NEW YORK, March 27 /PRNewswire-FirstCall/ - Globex, Inc. (GLXI: Pink Sheets) today announced that it has ultimately decided to file form 10 in order to become reporting and attain OTC Bulletin Board status. After evaluating the various potential measures to attain this goal and subsequent to legal and accounting counsel, management believes that the best method to uplist the Company's shares in a realistic and timely manner is to file an internal disclosing statement via form 10. This concerted decision involves the completion of audited financial statements; the disclosure of current control stock positions; and the nomination of executive officers, namely a CEO and a CFO. Considering the recent orchestrated email spamming campaign and multiple posts on investor message boards against Globex, initiated by external competing organizations who recommended GLXI shareholders to sell their stock and buy another Company's stock, management affirms that it will take any steps necessary to protect shareholder value and has decided to inform all its shareholders of the following: There are a total of 49,203,583 shares issued and outstanding. A sum of 15,000,000 shares has recently been issued to cover acquisition expenses, consulting fees and the compensation of key staff; all of which will be included in the disclosing statement. The Company neither has a current need nor does it intend to issue more stocks. The Company has received a $150,000 loan as a payable note advanced by a controlling shareholder for the payment of consulting fees, site surveys, geologic analysis and other operating expenses. The note bears interest of prime + 3% and is payable when the Company obtains financing from financial institutions based on its proven reserves. As disclosed previously, the Company has reoriented its bioethanol operations under a licensing agreement structure and has concentrated its development efforts in North America, subsequent to unsuccessful attempts to obtain permits in an ethical manner in Brazil. Based on recent positive discoveries and acquisitions, the Company has initiated negotiations with financial institutions to fund its working capital requirements by leveraging its assets. The Company anticipates that it will secure this financing as soon as the external third party validation of its reserves is finalized. Finally, management would like to take this opportunity to thank all shareholders for their support and assure everyone that it will take all the necessary steps to protect the Company and achieve our common goals, including maximizing shareholder value and attaining profitability. Forward-Looking Statements [/QB][/QUOTE]
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