FT. LAUDERDALE, Fla., April 20, 2007 /PRNewswire-FirstCall via COMTEX/ -- GlobeTel Communications Corp. (GTEM, Trade ) today announced that as part of its continuing effort to educate its shareholders about its services and projects it has launched a new Web site covering the Company's wireless activities and capabilities, which is now live and is available for viewing at www.globetelwireless.com .
"We believe our shareholders and other interested parties will find the site useful and gain clearer insight into the capabilities and advantages of GlobeTel's proprietary and exclusive HotZone systems, such as those being installed by No Mas Cables de Mexico," stated Rob Bleckman, director of investor relations. "The Company acquired all assets of HotZone Wireless LLC in June 2005. It owns all intellectual property associated with the HotZone 4010, 5000 and all derivative, products that would be developed utilizing the HotZone technology."
About GlobeTel Communications Corp.
GlobeTel Communications Corp. develops and provides an integrated suite of telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Individually, each of GlobeTel's business units function as distinct, strong stand-alone entities; together they form a powerful alliance of human talent and technological innovation resulting in the SuperHub(tm) worldwide VoIP network, Sanswire Stratellite(tm) platform and products enabling simpler, cheaper transmission of voice and data. GlobeTel has historically focused its business development on markets outside of the United States. For more information, please visit: www.globetel.net .
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, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
SOURCE GlobeTel Communications Corp.
Rob Bleckman, Director of Investor Relations of GlobeTel Communications Corp., +1-954-607-1295
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GlobeTel Communications Provides Operational Update to Shareholders
Apr 26, 2007 17:35:00 (ET)
FT. LAUDERDALE, Fla., April 26, 2007 /PRNewswire-FirstCall via COMTEX/ -- GlobeTel Communications Corp. (Pink Sheets: GTEM) today announced that it has embarked upon a significant realignment of its business goals and corporate structure commencing with the thrust of critical objectives for the Sanswire Stratellite program, a restructuring of GlobeTel Wireless, the winding down of the operations of its wholesale carrier division, Centerline Communications Corp., and a pressing commitment to bring its financial filings up-to-date.
"It is imperative that our focus targets the timely pursuit of Sanswire's Stratellite, low and mid altitude airship opportunities, and the continued construction of wireless broadband networks, such as that in Mexico," stated GlobeTel Communications Corp. Chief Executive Officer Peter Khoury. "We have been simplifying our focus with the intent of exploiting our developed intellectual property in the near term."
The streamlining began with the sale of the Magic Money division in November 2006, shortly after Mr. Khoury was appointed CEO. It continued with the re-evaluation of the then-current projects and pilots and the decision to not pursue any of these. Today it culminates with winding down Centerline, including the pursuit of plans to sell or redeploy parts of its infrastructure and the restructuring of GlobeTel Wireless.
GlobeTel Wireless will now be focused on sales efforts and the construction of broadband wireless networks in areas currently underserved by phone companies and cable companies which fail to provide adequate broadband internet access whether in the United States or abroad. In order to facilitate this change, we have engaged Uli Altvater, former President of Globetel Wireless, as a consultant to provide additional engineering and manufacturing support enabling the concentration on our core competencies. We have also taken steps to close our German operations by placing our German subsidiary under creditor protection. The German network did not meet our commercial expectations, and the cost and expense of maintaining our presence in Germany had become prohibitive.
Through our continued testing of Sanswire 2A Technology Demonstrator we have identified opportunities for a low to mid-altitude platform based on the Sanswire 2A. The new platform, SkySat, will fill the gap between tethered aerostats currently in use and the Stratellite high altitude airship designed to maintain and altitude of 65,000 feet. The SkySat is being designed to operate at an altitude of 8,000 to 15,000 feet and to maintain the station for up to 10 days.
CEO Peter Khoury continued, "In addition to our focus on the sale and implementation of broadband wireless networks and pursuit of opportunities for Sanswire, we are committed to bringing our financial statements up-to-date with the assistance of our new accounting team. This is one of our highest priorities as we continue to cooperate with the ongoing SEC investigation that includes a review of accounting practices related to Centerline."
With regard to the class action lawsuit, "Richard Stevens v. GlobeTel Communications Corp.," GlobeTel is pleased with the Court's decision with respect to the claims against the Company's officers and directors, current and former. We believe the remaining claims against the Company and its former CEO, Timothy Huff, are baseless and we intend to review our options with counsel.
GlobeTel is transforming to better exploit the technologies in which the Company has made significant investments over the past few years. We are aligning these technologies to the potential business opportunities at hand, and seeking patent protection for our innovations. With our renewed focus we look to move as quickly as possible to bring our filings up-to-date and move on these opportunities for our wireless, VoIP and Stratellite divisions.
About GlobeTel Communications Corp.
GlobeTel Communications Corp. develops and provides an integrated suite of terrestrial and aerospace telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Its proprietary HotZone and Sanswire platforms enable simpler, cheaper transmission of voice and data. For more information, please visit: www.globetel.net .
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, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
posted
Isn't Centerline Communications Corp GTEM's only source of revenue?
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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GlobeTel Communications Files Form 8-K Reporting Intention to Restate Certain 2004, 2005 and 2006 Financial Statements
May 8, 2007 10:44:00 (ET)
FORT LAUDERDALE, Fla., May 8, 2007 /PRNewswire-FirstCall via COMTEX/ -- GlobeTel Communications Corp.(Pink Sheets: GTEM) (the "Company") today announced that it reported on Form 8-K to the U.S. Securities & Exchange Commission that the Company will restate its financial statements for the years ended 2004 and 2005, as reported on Form 10-K, and for the interim periods in fiscal 2005 and the first two fiscal quarters of 2006 for which the Company filed reports on Form 10-Q. Accordingly, the Company advises that prior financial statements for such periods should no longer be relied upon.
The Company anticipates that certain of the revenue attributed to Centerline Communications LLC, a former subsidiary, will be restated.
About GlobeTel Communications Corp.
GlobeTel Communications Corp. develops and provides an integrated suite of terrestrial and aerospace telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Its proprietary HotZone and Sanswire platforms enable simpler, cheaper transmission of voice and data. For more information, please visit: www.globetel.net .
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, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
SOURCE GlobeTel Communications Corp.
Robert Bleckman, of GlobeTel Communications Corp., +1-954-607-1295
posted
GlobeTel Delivers First Order of HotZone Equipment to Extend Joint Venture No Mas Cables' Coverage in Mexico
May 10, 2007 12:32:00 (ET)
FT. LAUDERDALE, Fla., May 10, 2007 /PRNewswire-FirstCall via COMTEX/ -- Fulfilling the first purchase order under its recently formed joint venture with VPN de Mexico, GlobeTel Communications Corp. (Pink Sheets: GTEM) (the "Company") today announced that 83 HotZone 4010 devices and accompanying antennae were shipped to the Company's No Mas Cables de Mexico (NMC) joint venture. The equipment is being used to extend NMC's wireless broadband network, envisioned to cover communities located between the city of Pachuca, State of Hidalgo, Mexico and Mexico City, Mexico.
Between six and twelve HotZone 4010 devices are capable of covering one square kilometer of area, depending on conditions within the area including landscape, density, water content and existing noise within the usable spectrum. When installed in a contiguous pattern, the HotZone devices form a seamless wifi broadband "cloud."
"We've already begun to benefit from outsourcing our manufacturing to OEMs, who will help us ensure that the demand for HotZone equipment will be met quickly and accurately," stated Peter Khoury, Chief Executive Officer of GlobeTel. "In addition to the benefit of supply fulfillment at a fixed cost, OEM relationships are expected to save the company nearly 50% of the costs associated with our wireless activities, and free up our staff to pursue additional markets and opportunities."
Given the surgical way the HotZone technology can be installed, the plan includes covering areas within the heavily populated Mexico City . Pachuca corridor that are commercially viable, including the two middle-class communities (an aggregate 14,000 households) with very poor Internet penetration for which this lot of HotZone equipment was shipped. NMC was formed by GlobeTel and VPN de Mexico in April 2007 to build wireless broadband networks within Mexico. NMC expects to serve approximately 250,000 wireless broadband customers by the end of its third year of operation.
About GlobeTel Communications Corp.
GlobeTel Communications Corp. develops and provides an integrated suite of terrestrial and aerospace telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Its proprietary HotZone and Sanswire platforms enable simpler, cheaper transmission of voice and data. For more information, please visit: http://www.globetel.net .
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, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
SOURCE GlobeTel Communications Corp.
Contact: Robert Bleckman, GlobeTel Communications Corp., +1-954-607-1295
posted
I think the time is approaching for some new flip opportunities. Restated financials to be out soon. Company IR says they will become current on reporting in August. Mexican buildout seems to be progressing as well. End to the SEC investigation should coincide with restated/current financials. Looks as though downside has been priced in. Seems to have bottomed in low .20's on low volume over last 30 days. I'll picking up some flip positions in this range for potential swings. Just IMO of course. GL!
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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posted
Just keep this stock on your radar Tex. Volume has picked up a bit leading into the coming crapstorm. Crapstorms aren't bad.....given you are down wind and ready to sell with the spikes. As always...JIMO.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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posted
Anyone make a few dollars today? I forsee increased trading oppotunities on the horizon. Keep a watchful eye.....but definitely take your profits as you get them. IMO of course.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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