Update Regarding Stratellite Production and Timeline Please be advised that we will provide a public update during the week of March 25 to March 31, 2005 concerning the launch schedule of our Stratellite prototype. Upon approval of FAA flight plans and continued vendor deliveries, we will announce a date range for launch. This date may fluctuate to accommodate for weather or other variables outside of our control.
We fully expect to have completed the airship construction within our previously announced timeline. We are unable to provide an exact date until we get closer to the scheduled launch due to the various factors such as weather, flight plan approvals, and other variables as stated above.
We maintain our commitment to the Stratellite project and anticipate releasing photographs of the completed Stratellite by the end of March, 2005.
GlobeTel Communications Corp.
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.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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From the wording of this update..."Upon approval of FAA flight plans"...it would appear the FAA airframe inspection has been completed IMO. Any opinions?
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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quote:Originally posted by Pagan: From the wording of this update..."Upon approval of FAA flight plans"...it would appear the FAA airframe inspection has been completed IMO. Any opinions?
I agree with that. That's what it sounds like. This would indicate that they are on-track:
We fully expect to have completed the airship construction within our previously announced timeline.
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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" We fully expect to have completed the airship construction within our previously announced timeline." _____________________________________ Sounds to me like they must have FAA approval; at least for the structure. Otherwise wouldn't they be 'behind schedule'??
Original Schedule: 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.
Posts: 798 | Registered: Jun 2004
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Just wish they would have released this over the BusinessWire...or even on GTEL website....not just posted it on Sanswire website. Might have seen a nice little pop in PPS....more so than what we are seeing IMHO.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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My two cent's worth I would say they are approved. Now they are working on flight approval.
Posts: 10729 | From: oregon | Registered: Feb 2005
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I can't imagine that it wouldn't be approved....it's just a matter of when they release the damn report
Posts: 101 | Registered: Mar 2005
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Timothy Huff to FAA: "Well, can we announce the FAA Approval now?"
FAA to Huff: "No. You need to wait until a flight plan is approved."
Huff to FAA: "But our stockholders are waiting for the good news."
FAA to Huff: "Tough. Let them sweat. We're the government. You always have to wait for the government. That's the way things work."
-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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GTEL discussion: "Those news reports are really causing the stock to go haywire. We'd better hold off on any more until the thing is set to fly. Too much activity and we'll get the attention of those naked sellers...."
-------------------- May your trading build your character as well as your portfolio. Posts: 1763 | Registered: Jan 2005
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quote:Originally posted by Thorn: GTEL discussion: "Those news reports are really causing the stock to go haywire. We'd better hold off on any more until the thing is set to fly. Too much activity and we'll get the attention of those naked sellers...."
Thorn, You are 100% right, I said that a long time ago in here in one of my postings. GYEL will not go anywhere untill we have a positive report after the Launch, til then its just a guessing game and the MM,s and naket short sellers will take advandage of it. So, people just let it go for now, hold your shares and see what happens in. April. I know I will. JIMO
gmh37
Posts: 929 | From: usa | Registered: Jan 2005
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I think GTEL has some mods to make to the strat first. We probably won't see approval till March 20-27th at the earliest. I'm gonna chance it today if the price is right.
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
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