GlobeTel Announces Changes in Board of Directors Monday February 14, 3:10 pm ET
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--Feb. 14, 2005--GlobeTel Communications Corp. (OTCBB:GTEL - News) today announced that Dr. Jerrold R. Hinton has resigned as a member of the Board of Directors of GTEL and will be replaced by Laina Raveendran Greene, CEO of GetIT Multimedia Pte Ltd., a Silicon Valley company based in Singapore (http://www.getit-multimedia.com). Dr. Hinton founded American Diversified Company, Inc., the predecessor company of GTEL, in 1995. He previously served as Chairman, Chief Executive Officer and President of both American Diversified and GTEL. He resigned on February 8, 2005 in order to give the Company the ability to bring on a Board member who qualifies and can function as an independent member of the Audit Committee.
Mr. Hinton stated that, "The Company has exceeded my expectations under Tim's leadership. It is time for me to step aside to facilitate this growth and to make room for well suited board candidates, who can assist leadership with the next stage of growth. I am proud to have served the Company and our shareholders and feel very strongly that the company's best days are yet to come and we can all enjoy the fruits of our hard work. I wish the shareholders and the Company nothing but the best."
Tim Huff, CEO of GTEL, stated, "We owe a tremendous debt of gratitude to Dr. Hinton in holding the company together and maintaining its survival in some difficult times until we could establish the areas in which we could truly grow into what he and others envisioned. We wish him well in his future as I will not hesitate to call upon him if the need and occasion should arise."
Ms. Raveendran Greene, who will join the board of Directors of GTEL immediately, is the founder and CEO of GetIt Multimedia Pte. Ltd., a content development and delivery company providing solutions for e-learning and e-communications. She is a communications expert with a law degree, having obtained her law degree from the National University of Singapore and Masters of Law (Cum Laude) from the Harvard Law School.
Professional associations to which Ms. Raveendram Greene belongs, include, among others: International Advisory Panel member of the Asia Pacific Information Development Programme (UNDP), Chair of the Asia Pacific Policy and Legal Working Group; Charter Member of the Asia Silicon Valley Connection; Founding Member of the Global Telecommunications Society (Washington, D.C.); former Program Committee for the International Telecommunications Union (ITU).
Mr. Huff continued, "We welcome Laina to the GTEL family. We are extremely excited about our future and we feel that Laina's experience in telecommunications and her international reputation as a telecommunications expert, will greatly enhance our board. We are pleased that she has agreed to join us."
Additional information concerning other areas and topics of GTEL can be found on our web site at 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 Placement 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. The above are more fully discussed in the Company's SEC filings.
posted
IMO - GTEL went down today because of Dr. Hinton resigning from the Board, he was the founder of GTEL ( former adgi )way back. But we'll see what happends
GlobeTel Provides Sanswire Update Tuesday February 15, 8:30 am ET
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--Feb. 15, 2005--GlobeTel Communications Corp. (OTCBB: GTEL - News), today provided a construction update and schedule of events for their wholly owned subsidiary Sanswire Networks, LLC (Sanswire). Timothy Huff, CEO of GTEL, stated, "Our partners and technology summit will be held on the 22nd and 23rd of February. At this meeting, potential partners will be given presentation on the Stratellite(TM) and the different technology components of the Airship. They will also be given an opportunity to see Sanswire One under construction at the hangar. Vernon Koenig, chief engineer and inventor of the airship will also give his presentation on his vision of high altitude airships and their future."
Rick Searfoss, Director of Sanswire Networks, LLC, will be giving an address on the implications of Sanswire's airship and future "Near Space" initiatives. Rick was a Commander of the STS-90 Neurolab mission and a pilot for the Atlantis and Columbia space shuttles.
Business interests will be attending from the government, military and commercial sectors from various parts of the world, and in depth business meetings will be held to further the global rollout of the Stratellite(TM) program.
To keep the shareholders updated on the schedule of events and progress of the construction of Sanswire One, the following is guidance for the next 45 days.
February 16th - The propulsion team will arrive from the United Kingdom to install the engines and the guidance systems for Sanswire One.
February 21st - The rigid airframe will be complete and ready for FAA inspection. The airframe must be inspected before the final covering is placed on the airship.
February 28th - The final section of batteries will arrive from Germany. Shipments of the batteries will start arriving February 16th. Once all the batteries have arrived the final installation will be completed and tested.
March 1st - The final inspection of internal systems followed by the installation of the airship outer covering. FAA approval to be obtained before the final cover is applied to Sanswire One.
March 4th - The solar photovoltaic, which generate the majority of the power used on Sanswire One will be delivered by U.S. vendor and installed the following week.
March 15th - Testing of lifting gas cells will commence and final systems checks and structural inspections by all the section teams.
March 16th - Payload installation will be complete, including the first of three different packages that will be tested over the next 30 days.
March 23rd to 25th - the scheduled launch window. This will be decided based on the successful completion of the aforementioned processes and weather conditions. Updates will be provided one or two weeks before the launch to plan a public viewing of the airship and the date of the launch. There will be a video link on the GlobeTel website of the launch.
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 Placement 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. The above are more fully discussed in the Company's SEC filings.
posted
I think we will fly today with the news. I hope everyone bought yesterday. There will also be great news coming out of the meeting this weekend. I am sure they will come out next week and talk about how well received everything was by the potential partners.
-------------------- If all goes well then great, if not, make it work.
IP: Logged |
posted
man, i know that board member resignation was bad but i thought the news this morning was fantastic....also it was so difficult breaking 30 we had to work so hard for it...
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
IP: Logged |
Don't get nervous. The exciting times are still ahead. Maybe average down? Who knows what the bottom will be. i'd hate to sell and then see it go right back up.
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
IP: Logged |
posted
i hate those immature, retarded stop loss orders .. look what they have done to us with their stupidity!! god i hate them .. looks like it reversing now .. gl all
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
