quote:Originally posted by gmh37: Press Release Source: GlobeTel Communications Corp.
GlobeTel Initiates Global Strategy for Sanswire Tuesday March 8, 9:58 am ET Establishes Sanswire Europe Through Joint Venture Structure Sanswire Europe to Make Wireless Access Available to All European Citizens
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--March 8, 2005-- GlobeTel Communications Corp. (OTCBB:GTEL - News) today announced a global strategy for its Sanswire Networks Corporation subsidiary. It has signed a Letter of Intent to immediately establish Sanswire Europe S.A., its first regional operating subsidiary. Sanswire Europe will be a joint venture between GlobeTel's wholly owned operating subsidiary, Sanswire Networks, LLC and Strato-Wireless Ltd. (SWL), in which GlobeTel will own 55% and Strato-Wireless will own 45% of the shares of the European Venture. The new operation will be managed jointly by J. Randolph Dumas and John A. Jensen, Jr., both former senior Managing Directors at global investment banking firms. Both principals have decades of business experience throughout Europe and the Middle East. ADVERTISEMENT
Sanswire Europe is being formed to generate government, military and corporate contracts for Sanswire's Stratellite platforms within Europe. Stratellites are specialized airships, that will be placed in the stratosphere to be used for transmitting virtually all types of wireless communications and content. Sanswire Europe will extend the Sanswire franchise into Europe, the Middle East and Africa. Eventually, other regional Sanswire entities will be created to develop opportunities in other regions including Asia and Latin America.
"Our strategy is to create geographical action teams with highly qualified partners whose access to capital sources and direct access to senior government and business leaders, will allow for rapid deployment of our Stratellite technology. Our Partners have the capability to mobilize and seize on the advantage of Sanswire being the first mover to launch and have commercial use of a high altitude platform airship, in our case, the Stratellite," Timothy M. Huff, CEO of GlobeTel stated. "Sanswire Networks, LLC will remain a wholly-owned subsidiary of GlobeTel and GlobeTel will maintain majority ownership of each of the world-wide partnerships we will be forming. These partners will bring significant value to our Company."
Mr. Huff added: "SWL represents an ideal partner for both GlobeTel and Sanswire. SWL's global business experience and relationships, combined with the entrepreneurial style of SWL's principals, creates an exceptional foundation for the launch of Sanswire's wireless capabilities within Europe. We believe that the initial relationship will rapidly expand into other countries with the SWL partnership."
J. Randolph Dumas, Chairman of Sanswire Europe, remarked: "We are excited about the opportunity to develop the Sanswire franchise in Europe. The unprecedented technology inherent in the Stratellite airships represents a unique opportunity to deliver a full array of communications services for the benefit of governments and commercial interests alike."
"The access to wireless communications through Sanswire will enable millions of people to benefit from this technology in areas where cost-effective communications have been limited or impossible, historically," added John Jensen, Vice Chairman of Sanswire Europe. "To this end, we intend to move quickly to establish Sanswire as the preferred platform for delivering wireless communications in the twenty-first century," he concluded.
Sanswire Europe will drive the European strategy by integrating clients' special voice, data and video requirements with the resources of Sanswire's newly established Research and Development Division. This division will provide technological and operational expertise and support to meet each client's particular needs. The first prototype of a fully operational Stratellite is scheduled for launch in early April in California.
Randolph Dumas, a resident of London, England, has lived and worked in Europe for the past 25 years. He was a partner of Salomon Brothers International Limited responsible for the firm's European corporate finance, mortgage securities and real estate investment banking businesses for a number of years. Subsequently, Dumas founded and became the Managing Partner of two prominent private equity firms: Dumas West & Co (a 50:50 partnership with the "Baby Bell" telecommunications company, US West) and Rubikon Partners, a firm focusing on European LBOs. Dumas has had extensive experience working in virtually every business sector and in every country within Europe and in much of the Middle East. He maintains strong relationships in these countries at the highest levels.
John Jensen, also a London resident, has lived and worked in Europe since 1992. He spent 32 years in various management positions at Merrill Lynch, from which he retired recently as Vice Chairman of Global Equity Capital Markets. At Merrill Lynch, he led the management of more than 500 equity offerings including large, high profile European and Asian privatizations, primarily in the telecommunications, technology and natural resource industries. Jensen's experience provides an in-depth knowledge and keen understanding of the dynamics of the relationships between governments and commercial enterprises globally. He is also Chairman of Pelham Sloane Ltd., a designer, manufacturer and marketer of patented, all-in-one computers, based in London, England.
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.
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STOCKS 100...now do understand my statement [selling at .28 or something thinking you are just going walk back in at .25 you are not going to like the results!!!!
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I sold some this morning 37,000 shares at .28 to move to CNES it worked okay so far but then news came on GTEL....I am still hoping to swing CNES back to GTEL by Friday.
-------------------- If all goes well then great, if not, make it work.
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Just bought a boatload Of GTEL this baby Is very bullish and will fly fly fly..Gonna hold as well.On the way up as we speak lets hope It stays..
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So far I lost 500 on GTEL but made 2k on my swing to CNES this morning. And the news on CNES has not hit the wire yet. Love GTEL though and my money will all be back once CNES tops out.
-------------------- If all goes well then great, if not, make it work.
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quote:Originally posted by George: Hey Peaser.. I was closest to the news release time...PAY UP... even though it was not the news we were talking about...
quote:Originally posted by windjunkee: that wouldn't be sarcasism would it thorn?
Sorry; a character flaw of mine. MSEP isn't doing anything right now.
I have nothing against MSEP; however, I've jumped ship on other stocks after getting tired of waiting, only to end up not making much...and then the news came in. I think for GTEL we're better off just waiting.
-------------------- May your trading build your character as well as your portfolio.
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www.otcbb.com posted a GTEL new headline, they have signed a letter of intent for the stratellite to cover all of Europe joint venture with company in Europe. I went back to the site to print out the news and it was off the screen. (Don't know how to retrieve their headlines, by the hour) Will have to wait for 3/8/2005 headlines tomorrow.
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Hey did you guys catch this in todays PR: "The first prototype of a fully operational Stratellite is scheduled for launch in early APRIL in California."
It used to be: March 23rd to 25th - the scheduled launch window.
There must be a delay that they have not mentioned yet.
-------------------- If all goes well then great, if not, make it work.
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quote:Originally posted by BchOus: www.otcbb.com posted a GTEL new headline, they have signed a letter of intent for the stratellite to cover all of Europe joint venture with company in Europe. I went back to the site to print out the news and it was off the screen. (Don't know how to retrieve their headlines, by the hour) Will have to wait for 3/8/2005 headlines tomorrow.
It has already been posted earlier.
-------------------- If all goes well then great, if not, make it work.
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quote:Originally posted by George: Hey did you guys catch this in todays PR: "The first prototype of a fully operational Stratellite is scheduled for launch in early APRIL in California."
It used to be: March 23rd to 25th - the scheduled launch window.
There must be a delay that they have not mentioned yet.
Read toward the bottom of the PR.
-------------------- If all goes well then great, if not, make it work.
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