posted
Thank you, I appreciate it, I really enjoy reading this. I just found insidercow 'dot' com seems to be easy to read also, just not sure how soon it is updated.
-------------------- w i k i s t o c k . c o m
IP: Logged |
posted
GlobeTel Enters Into Letter of Intent to Acquire Altvater GmbH, a Leader in Wireless Solutions in Europe
FORT LAUDERDALE, Fla., Jul 25, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE), today announced that it has entered into a Letter Of Intent (LOI) to acquire the assets and operations of Altvater GmbH of Germany (Altvater). Altvater is a wireless communications systems integrator for HotZone systems in Europe, with core operations in Germany. Altvater GmbH has existing sales partner relationships in Europe and North Africa. GlobeTel, through the acquisition of Altvater will form a new division which will be called GlobeTel Wireless. Mr. Ulrich Altvater, CEO of Altvater GmbH stated: "I am very pleased to expand our association with GlobeTel. This proposed acquisition will certainly enable a much faster deployment of our networks and activities across Europe and elsewhere, globally. We have experienced significant growth over the past few years and being part of the GlobeTel family of companies will propel our growth faster and more efficiently. The wireless broadband industry is at an exciting stage with interest in advanced wireless communication products and services reaching a high point this year. We are clearly at the forefront of this technology."
Leigh Coleman of GlobeTel, added: "This is a transaction that is a valuable key to the further development and growth of our already announced transaction of HotZone Wireless. GlobeTel is planning an aggressive development of our radio technology that we use in our Sanswire Networks, LLC Stratellite(TM) technology. We have found an ideal and qualified partner in Altvater and we look forward to the continued development of business, and the fulfillment of the contracts and services that are provided by Altvater in the marketplace."
Altvater currently supplies wireless hotspots in various areas of Europe with key cities of Kaiserslautern, Erfurt and Ruesselsheim Germany. These cities are the first major locations that are part of a longer-term plan to deploy HZ 4000 series Networks to 140 cities and towns in Germany, where DSL or cable is unavailable.
The proposed acquisition by GlobeTel will accelerate its roll out of its advanced WIMAX and WIFI systems through Europe. Technical and sales support staff is located in Bad Rappenau, Germany
Through GlobeTel's previous acquisition of HotZone Wireless, LLC. HotZone is currently developing WIMAX wireless systems for Sanswire's High Altitude Airship called a Stratellite(TM). This WIMAX system will provide radio technology for the wireless communications that will cover significant geographic areas up to 120,000 square miles. For more information on the Stratellite(TM), go to: http://www.sanswire.com .
The previously announced acquisition of HotZone Wireless, LLC. provides advanced wireless products and services for terrestrial wide area networks covering rural and city areas. Upon deployment of the Stratellite(TM), on a region-by-region and country-by-country basis, the communications technology will deliver high speed voice, data and rich streaming content, as well as other communications possibilities. For more information on HotZone, go to: http://www.hotzonewireless.net .
Timothy M. Huff, CEO of GlobeTel stated: "This acquisition of Altvater is part of our overall growth strategy. We are exceptionally pleased with our growth and synergy of business units and are confident in our continued development. We look forward to the completion of the transaction and to an enhanced relationship with the quality people that make up Altvater and HotZone in Europe."
About Altvater GmbH:
Altvater GmbH is the original creator of HotZone Wireless systems. Altvater is the corporate parent of the previously acquired company called HotZone Wireless LLC. HotZone develops, manufactures, and installs wireless metropolitan systems. The main products are wireless routers and customer premises devices. HotZone networks are operational in several cities in Europe and in the United States.
About Sanswire Networks, LLC:
Sanswire Networks is a wholly owned subsidiary of GlobeTel Communications Corp. whose shares are publicly traded on the American Stock Exchange under the symbol GTE.
A Stratellite (TM) is a high-altitude airship that when in place in the stratosphere (approximately 65,000 feet) will provide a stationary platform for transmitting various types of wireless communications services currently transmitted from cell towers and satellites. It is not a balloon or a blimp, but a high-altitude airship with a rigid structure.
The Stratellite (TM) is similar to a satellite in concept, but is stationed in the stratosphere rather than in orbit. Existing satellites provide easy "download" capabilities, but because of their high altitude are not practical for commercially viable "two-way" high-speed data communication. The Stratellite (TM) will allow subscribers to easily communicate in "both directions" using readily available wireless devices. http://www.sanswire.com
About GlobeTel Communications Corp.:
GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services Company. GlobeTel operates business units in Stored Value debit cards, as a certified MasterCard processor, the sale of Carrier grade VOIP of Long Distance to major Long Distance re-sellers, VOIP Technology and development, and high altitude airship research and development. These self-contained business units were developed to operate independently of each other. The symbiotic relationship however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.
Operating on a global basis, GlobeTel has, historically focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.
Additional information concerning other areas and topics of GlobeTel can be found on our web site at http://www.globetel.net
Certain statements in this release constitute forward-looking statements or statements that 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. GlobeTel and its strategy for launching the Stratellite(TM) may vary as conditions and technology changes. There is the possibility that parts of the process may change or be delayed. While GlobeTel plans for the success of the Airship, there is no guarantee that it will achieve any or all of its objectives. The Letter of Intent with the named parties is subject to a complete due diligence and the agreement of certain contractual documents which are necessary to effect in a transaction like this. There is the distinct possibility that the proposed transaction may not be consummated in the event of misrepresentations by the Sellers, or the Seller's inability to deliver on certain representations and warranties. The transaction has other risks which may affect the outcome of the transaction. Any reference within this release that refers, or implies a forward-looking statement, is herewith incorporated into this Safe Harbor language. The full terms of the asset acquisition will be included in the Company's required filing, at the time when the transaction is complete and the filing is prepared and filed.
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
IP: Logged |
<jps>
unregistered
posted
Wow, that is really great news!
IP: Logged |
posted
This may be good news in the lomg run but short term it drives the price down. Probably end up loosing about .10 today after the good news.
IP: Logged |
posted
For this stock it has been the hostory. Good news ----> down price. At some point this cycle should (we hope)turn around - specially when news of the first flight planning starts hitting the wire.
IP: Logged |
posted
You have to understand that good news is not always good news on the finance side. This is good long term news but it also shows that they are spending money. It has the opposite effect than posting news about revenue increase, a large sale is closed or something like that. Once the deal is done if it will be a positive cash input then that PR will be really good. If they buy them and it cost more money upfront it can be bad. Of course like everything these rules are not written in stone. I am planning to get back in to GTE around 1.70 -1.80 or 2nd week of Aug. Then great news of a completed test flight at 60,000 feet will blow this thing out of the water. stay tuned to gtel . org for the latest news.
-------------------- If all goes well then great, if not, make it work.
IP: Logged |
posted
Is there any news of the launch? Or of final preparations before the launch? Any news? I'm down almost 50% since the R/S!! C'mon gte...you're killing me too...
posted
No news that I am aware of. We could end up testing the post R/S low of 1.85 before the bleeding stops. If it breaks thru that price level - not sure where it'll stop. Hope some news on the launch comes out soon.
IP: Logged |
posted
sharkone... im down 50% too. Cant really sell at this point. But look at the bright side, when news of a sucessful test flight hits, we'll be in the green for sure.
IP: Logged |
posted
I bought at 3.34, 2.89, and 2.34...believe that Tim Huff bought at 2.34 also. I thought that was the low, but stockcharts, point and figure chart, shows a bearish price of 1.00. If it goes to 1.00 I will hopefully have funds to buy. I haven't checked institutions buying, but that was their main objective on AMEX. Could be low prices to attract big funds.
IP: Logged |
posted
People are just guessing for now but this is still a good price was waiting for 1.80 entry but dont want to miss the train. may be news tomorow. still holding on the buy
IP: Logged |
posted
GlobeTel Communications Corp. Today Announced Development Plans for its New GlobeTel Wireless Division via COMTEX
July 29, 2005
FORT LAUDERDALE, Fla., Jul 29, 2005 (BUSINESS WIRE) --
GlobeTel Communications Corp. (AMEX:GTE), today announced that it has named Leigh Coleman as President of Sanswire Commercial and Uli Altvater and Leigh Coleman, as Co-Presidents of its new subsidiary GlobeTel Wireless. Mr. Coleman will focus on business development, sales and marketing while Mr. Altvater will focus on the technical development and the deployment of GlobeTel Wireless Networks.
This strategic initiative will provide for an accelerated program to launch GlobeTel Wireless products and services worldwide utilizing its line of HotZone Wireless products and services.
This new business unit is due to worldwide and unexpected increase in demand for advanced wireless communications technology. With recently announced acquisitions, GlobeTel Wireless has enhanced its delivery channels and expects to add to its already existing networks on several continents.
Mr. Coleman and Mr. Altvater are responsible for the marketing and deployment of wireless networks globally using the proprietary radio technology which was developed for GlobeTel's High Altitude Airship called a Stratellite. These terrestrial networks are designed and engineered to be linked to the Stratellite high altitude wireless network. Once a Stratellite is operational over a territory that has deployed the HotZone wireless technology, the Stratellite will enhance and enlarge the capabilities of the terrestrial wireless network.
Timothy Huff, CEO of GlobeTel, stated: "This is a great strategic move for GlobeTel. We have experienced significant leaps forward in the technology and design and build of our High Altitude Airship (Stratellite). We have always known that the technology that we would develop would have other commercial applications and this is proof of that concept. This is a great example where we continue the rapid development and building of our Stratellite, while using other corporate resources to expand our revenue and bottom line earnings potential through these enhanced business units. I have tremendous confidence in the hard work that Mr. Coleman and Mr. Altvater have done and am pleased with the immediate results and more excited with the longer term business prospects."
The newly developed HotZone 4010 Wimax/Wifi wireless base station is able to provide more bandwidth for less money than other wireless devices. This solution gives mobile and wireless internet access, is capable of providing voice, high-speed internet and video applications, commonly known in the Industry as the "triple play".
Mr. Altvater, Co-President of GlobeTel Wireless, said, "Our wireless access points differ tremendously from other available Hot Spot installations, as one might find at retail establishments and other similar venues, as these are limited to indoor use and have limited range outdoors."
GlobeTel Wireless, through its partners, has identified 140 cities throughout Germany for deployment of GlobeTel Wireless Networks and over 10,000 subscribers have pre-registered for the GlobeTel wireless service.
About GlobeTel Wireless:
GlobeTel Wireless develops, manufactures, and deploys wireless metropolitan systems. The main products are wireless routers, radios and customer premises equipment. HotZone networks are operational in several cities in Europe and in the United States.
About Sanswire Networks, LLC:
Sanswire Networks is a wholly owned subsidiary of GlobeTel Communications Corp., whose shares are publicly traded on the American Stock Exchange under the symbol GTE.
A Stratellite(TM) is a high-altitude airship that, when in place in the stratosphere (approximately 65,000 feet), will provide a stationary platform for transmitting various types of wireless communications services currently transmitted from cell towers and satellites. It is not a balloon or a blimp, but a high-altitude airship with a rigid structure.
The Stratellite(TM) is similar to a satellite in concept, but is stationed in the stratosphere rather than in orbit. Existing satellites provide easy "download" capabilities, but because of their high altitude are not practical for commercially viable "two-way" high-speed data communication. The Stratellite(TM) will allow subscribers to easily communicate in "both directions" using readily available wireless devices. http://www.sanswire.com
About GlobeTel Communications Corp.:
GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services Company. GlobeTel operates business units in Stored Value debit cards, as a certified MasterCard processor, the sale of Carrier grade VOIP of Long Distance to major Long Distance re-sellers, VOIP Technology, Wireless radio technology and development, and high altitude airship research and development. These self-contained business units were developed to operate independently of each other. The symbiotic relationship however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.
Operating on a global basis, GlobeTel has historically focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.
Additional information concerning other areas and topics of GlobeTel can be found on our web site at http://www.globetel.net
Certain statements in this release constitute forward-looking statements or statements that may be deemed or construed to be forward-looking statements within the meaning of the Private 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 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. GlobeTel and its strategy for launching the Stratellite(TM) may vary as conditions and technology changes. There is the possibility that parts of the process may change or be delayed. While GlobeTel plans for the success of the Airship, there is no guarantee that it will achieve any or all of its objectives. The performance of the new wireless division cannot be guaranteed, there are references that while management believes are probable, there are no guarantees as to its success. Any reference within this release that refers, or implies a forward-looking statement, is herewith incorporated into this Safe Harbor language. The full terms of the asset acquisition will be included in the Company's required filing
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
IP: Logged |
posted
I just called GTE for an update on the situation. "The stock should be trading within the next 20 minutes. They were waiting to issue a PR and that has been accomplished."
Folks I have no idea what the PR says but it will be out soon.
posted
GlobeTel Responds to Article in New York Post Dated August 1, 2005 10:49 a.m. 08/01/2005 Provided by FORT LAUDERDALE, Fla., Aug 01, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE), today responded to a "slanderous and defamatory" opinion piece by Mr. Christopher Bryon, a columnist from the New York Post. Mr. Timothy Huff CEO stated: "It appears the NY Post is at it again. The New York tabloid is now trying to create controversy where there is none. "In typical fashion, Mr. Bryon created a story without the verification of facts or even simple communication with management at the Company. Had Mr. Bryon actually performed the expected due diligence to prepare an article, he would have not made the preposterous statements that were made. However, this reporter was more concerned about fabrication to sell a story versus solid business reporting. GlobeTel management would like to publicly respond to various business issues that have been onerously reported in this article." Business issues: GlobeTel is a company that has generated over $37 million in revenues in the first half of 2005. GlobeTel has a strong cash position with cash on hand of approximately $3 million. GlobeTel has 59 full time employees based primarily in two facilities in Florida and California. The Florida office has 32 employees in 10,000 square feet of space and the company recently opened a facility in Palmdale, California that spans 66,000 square feet and has 27 employees. GlobeTel has executed contracts with NASA (National Aeronautical Space Administration) to assist in the development of its Stratellite technology, and has already built the first airship and publicly displayed the technology. This technology is being built and tested at Edwards Air Force Base in California, under the watch of NASA, the Air Force, and other governmental agencies. The Stratellite: GlobeTel has assembled one of the leading technology teams with experience in: Design, Aerodynamics, systems, propulsion, battery technology, and other areas. Much of this team has come from NASA and other government contractors, some leaving careers of upwards of 30 years to lead this project. The team includes key leaders:
-- Mr. Robert A. Jones is the President of Sanswire Governmental Services. As President, Mr. Jones is responsible for all aspects of government businesses and relationships for Sanswire.
Mr. Jones has over twenty-five years experience with NASA and the Air Force in aerospace as an executive, director, program manager, mission director, mission manager, flight test engineer, and pilot. Bob has an extensive test background as well as operational air, space and ballistic launch, and space vehicle research, test and development. He was instrumental and responsible for breaking 10 world records for the space launch systems which resulted in three National Space and Science awards.
-- Dr. Michael Matarrese serves as the Senior Aerodynamics Engineer of Sanswire. Michael has over 17 years experience as an aerospace engineer, including several years of close work with famous airplane designer Burt Rutan as an aerodynamicist and configuration designer. He has been involved with the design, development, and flight test of six aircraft, and has provided consulting services to the aerospace community in aerodynamics, computational fluid dynamics, performance analysis, vehicle preliminary design and optimization, and software development. His formal education includes a Ph.D. and B.S. (Summa cum Laude) in aerospace engineering from the highly regarded programs at the University of Michigan and Ohio State University, respectively. He brings to the Sanswire team extensive knowledge of aerodynamics and conceptual design, significant practical experience in flight vehicle development, and exceptional analytical capabilities.
As mentioned above, the Stratellite facility is located in Palmdale, California and is comprised of over 66,000 square feet. There are 27 full time employees. GlobeTel Stratellite customers: Had Mr. Bryon done the simplest of searches he would have found information on the customer that he questions. The State of Florida official website, http://www.sunbiz.org provides a listing of names of Officers and Directors as well as addresses for each person. Location of Stratellites: Contrary to Mr. Bryon's assertion, the first Stratellites are slated to be delivered to military and capital partners interests. Mr. Timothy Huff stated: "The importance of placing these Stratellites in the best location to maximize security for our armed forces is of paramount importance. The technology that we have developed with NASA, the Air Force and other agencies will help save lives and provide quality of life for those that will be the first users of the technology." Mr. Huff continued, "Our capital partners will be afforded initial units and follow on customers will be in line for available capacity." Moreover, the Stratellite represents a last-mile solution to provide internet and telephone to those areas where conventional infrastructure is not in place. Summary: GlobeTel is a rapidly growing business. Evidenced by over 38,000 shareholders, a rapidly growing revenue base, adequate capital on hand, and a seasoned and talented management team. GlobeTel is a business that is far from the illustration that Mr. Bryon described. "This is an unfortunate situation wherein a careless and reckless reporter tried to sell newspapers at the expense of a well run company with a bright future. GlobeTel intends to deal with Mr. Bryon and the New York Post in an appropriate manner and GlobeTel regrets having to respond to this, however, GlobeTel intends on keeping the record straight for its shareholders and not allowing the rogue efforts of this person to hinder the Company or its prospects. GlobeTel can only wonder the true motive behind Mr. Bryon's distortions," according to Mr. Huff. Certain statements in this release constitute forward-looking statements or statements that may be deemed or construed to be forward-looking statements within the meaning of the Private 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 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. GlobeTel and its strategy for launching the Stratellite(TM) may vary as conditions and technology changes. There is the possibility that parts of the process may change or be delayed. While GlobeTel plans for the success of the Airship, there is no guarantee that it will achieve any or all of its objectives. The performance of the new wireless division cannot be guaranteed, there are references that while management believes are probable, and there are no guarantees as to its success. Any reference within this release that refers, or implies a forward-looking statement, is herewith incorporated into this Safe Harbor language. The full terms of the asset acquisition will be included in the Company's required filing.
GlobeTel Communications Corp., Fort Lauderdale Maria Vasquez, 954-241-0590 investors@globetel.net
WE just knew it was out there some where, like the Yeti, and after all these years and decades of searching, we have found it at last: the ultimate, all-in-one Penny Stock With Everything.
We're talking more than just phone numbers that never answer, or the $50 million joint venture partner that may not exist, or even the crooked promoter and the listing on the American Stock Exchange.
Beyond all that we're talking about a company that increased its stock price by nearly 500 percent earlier this year by launching itself into a business, 65,000 feet over the snake-infested jungles of Colombia, that looks to be based, both literally and figuratively, on the ultimate marketing tool of Wall Street itself: actual hot air.
The company in question, which goes by the name of Globetel Communications Inc., is only one of many such in-your-face promotions that have lately sprung to life before the glassy-eyed stares of the regulators.
Who among us still remembers a stock from last winter called Stinger Systems, Inc., which took a bow in this space back in January as one of several over-hyped "stun gun" stocks in the so-called Homeland Defense sector?
Two weeks ago the company notified shareholders that the Securities and Exchange Commission had been investigating Stinger Systems since last December and had now decided to ratchet the case up a notch and maybe even file a lawsuit against the company and its top management.
During those eight months, Wall Street pump-and-dumpers put Stinger's stock through the complete heavy wash cycle, sending it soaring from pennies to nearly $50 between Thanksgiving and Christmas, followed by the inevitable bailout that has sent it crashing back to its current — and still-inflated — price of less than $5.
Meanwhile, the company's two top officials have quit, and with the place in a shambles the bumbling gendarmes of the SEC have arrived, late as usual, to harrumph about maybe possibly sending somebody a really nasty e-mail.
IT'S pretty much the same story with Globe tel Communications, Inc., which has been kicking around Wall Street under one name or another for nearly the whole of the last quarter-century.
Beginning as a Nevada homebuilder, the company switched thereafter to the beckoning opportunities of the shock absorber business, followed by a foray into syphilis detection test kits. After that came the computer business, and finally, the "voice over the Internet" telecommunications business, which the company operated out of a 600-square-foot office in Hickory Hill, N.C., under the name of American Diversified Group Inc.
At the start of 2000, the company merged with a Miami-based outfit called Global Transmedia Communications Corp. and changed its name to Globetel Communications.
Yet it wasn't until the combined companies hooked up with another telecom outfit, called Sanswire Technologies Inc., in early 2004 that Globetel's stock price at last began to gain some lift.
That's because Sanswire had a hot story and was already shopping it around using the services of a South Florida firm of stock promoters known as Wall Street Capital Funding.
By acquiring it in April of last year for what looks to have been no more than $3 million worth of stock, Globetel turned Sanswire's Big New Opportunity into its own — namely, a plan for bouncing telephone calls off a specially created network of geosynchronous relay stations 12 miles above the surface of the earth, where the stratosphere meets outer space.
Sound cutting edge? In fact, it gets even better because these relay stations weren't going to be plain old humdrum satellites at all, but something far more intriguing. So, are you ready for — blimps?
That's right, folks, instead of satellites, Globetel's infrastructure is going to be assembled out of blimps — the same things you see floating over used car lots on summer Sundays, bearing messages on the sides like, "Blowout Special" and " '98 Dakota — Klean and Mean."
(Globetel press releases say not to call them blimps because they're rigid-framed, 21st century aircraft. But the company has a picture of one on its Web site, and frankly, it looks like a blimp to me.)
Anyway, since bold new thinking is best conveyed with bold new words, Globetel is using its own trademarked name for its (don't call 'em) blimps in space: stratellites — the first of which is set to float heavenward by year's end, reaching a sub-orbital, stationary position 65,000 feet above the earth where it will soon be joined by four others.
THERE's just one thing: That pre-determined, sub-orbital position at the doorway to outer space turns out to be 12 miles above the jungles of Colombia, which is not yet what you'd call a booming market for voice-over-the-internet telecommunications services.
(On the other hand, high above the jungles of Colombia is one place where you could say you've got 500 of the things in orbit, and who is going to say otherwise?)
We wanted to ask a company spokesman why a squadron of (don't call 'em) blimps over Colombia promised to become anything more than the high concept for a "Seinfeld" routine, but couldn't get further than a voice recording for the PR person, which said "high call volume" meant not to expect a return call anytime soon.
Next we came upon a press release announcing plans by a Florida company called Apogeo Enterprises Corp. to invest $50 million in Globetel's not-blimps project, and tried to call them up, too, since anyone planning to invest $50 million in something must surely know what he's doing.
Unfortunately, it proved impossible to locate a business by that name in Florida or anywhere else.
Another possible source of information might have been a man named Paul Taboada, who issued a large number of press releases for the company during 2002 when it was still known as American Diversified Group Inc.
A search of SEC filings revealed that Taboada is now a private investor and consultant to Globetel, and has already invested $500,000 in the company, which is apparently being used as tide-me-over money until that big $50 million rolls in and construction of the not-blimps gets going in earnest.
Unfortunately, Taboada didn't turn out to have the credentials for which one might have hoped.
During the period when he was writing press releases for American Diversified Group, Taboada was working as Director of Corporate Finance for the firm of Hornblower & Weeks.
In that capacity, Taboada issued a research report for American Diversified that turned out to be so over-hyped and distorted in its thumbs-up analysis of the company's prospects that the National Association of Securities Dealers wound up suspending not just Taboada but the entire firm of Hornblower & Weeks from issuing any reports about any companies for six months.
Now he's working for American Diversified's renamed successor from the inside and apparently has half a million dollars on the line, so who could possibly trust a word he'd have to say about anything regarding Globetel?
Bottom line: Remember the name because Globetel Communications Inc. is one penny stock company embodying so much of what is wrong with Wall Street that they ought to make it a case study in business schools.
But don't tell that to the sleepy-heads at the SEC, you might wake them up.
cbyron@nypost.com
-------------------- If all goes well then great, if not, make it work.
IP: Logged |
posted
GlobeTel Responds to Article in New York Post Dated August 1, 2005 10:49 a.m. 08/01/2005 Provided by FORT LAUDERDALE, Fla., Aug 01, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE), today responded to a "slanderous and defamatory" opinion piece by Mr. Christopher Bryon, a columnist from the New York Post. Mr. Timothy Huff CEO stated: "It appears the NY Post is at it again. The New York tabloid is now trying to create controversy where there is none. "In typical fashion, Mr. Bryon created a story without the verification of facts or even simple communication with management at the Company. Had Mr. Bryon actually performed the expected due diligence to prepare an article, he would have not made the preposterous statements that were made. However, this reporter was more concerned about fabrication to sell a story versus solid business reporting. GlobeTel management would like to publicly respond to various business issues that have been onerously reported in this article." Business issues: GlobeTel is a company that has generated over $37 million in revenues in the first half of 2005. GlobeTel has a strong cash position with cash on hand of approximately $3 million. GlobeTel has 59 full time employees based primarily in two facilities in Florida and California. The Florida office has 32 employees in 10,000 square feet of space and the company recently opened a facility in Palmdale, California that spans 66,000 square feet and has 27 employees. GlobeTel has executed contracts with NASA (National Aeronautical Space Administration) to assist in the development of its Stratellite technology, and has already built the first airship and publicly displayed the technology. This technology is being built and tested at Edwards Air Force Base in California, under the watch of NASA, the Air Force, and other governmental agencies. The Stratellite: GlobeTel has assembled one of the leading technology teams with experience in: Design, Aerodynamics, systems, propulsion, battery technology, and other areas. Much of this team has come from NASA and other government contractors, some leaving careers of upwards of 30 years to lead this project. The team includes key leaders:
-- Mr. Robert A. Jones is the President of Sanswire Governmental Services. As President, Mr. Jones is responsible for all aspects of government businesses and relationships for Sanswire.
Mr. Jones has over twenty-five years experience with NASA and the Air Force in aerospace as an executive, director, program manager, mission director, mission manager, flight test engineer, and pilot. Bob has an extensive test background as well as operational air, space and ballistic launch, and space vehicle research, test and development. He was instrumental and responsible for breaking 10 world records for the space launch systems which resulted in three National Space and Science awards.
-- Dr. Michael Matarrese serves as the Senior Aerodynamics Engineer of Sanswire. Michael has over 17 years experience as an aerospace engineer, including several years of close work with famous airplane designer Burt Rutan as an aerodynamicist and configuration designer. He has been involved with the design, development, and flight test of six aircraft, and has provided consulting services to the aerospace community in aerodynamics, computational fluid dynamics, performance analysis, vehicle preliminary design and optimization, and software development. His formal education includes a Ph.D. and B.S. (Summa cum Laude) in aerospace engineering from the highly regarded programs at the University of Michigan and Ohio State University, respectively. He brings to the Sanswire team extensive knowledge of aerodynamics and conceptual design, significant practical experience in flight vehicle development, and exceptional analytical capabilities.
As mentioned above, the Stratellite facility is located in Palmdale, California and is comprised of over 66,000 square feet. There are 27 full time employees. GlobeTel Stratellite customers: Had Mr. Bryon done the simplest of searches he would have found information on the customer that he questions. The State of Florida official website, http://www.sunbiz.org provides a listing of names of Officers and Directors as well as addresses for each person. Location of Stratellites: Contrary to Mr. Bryon's assertion, the first Stratellites are slated to be delivered to military and capital partners interests. Mr. Timothy Huff stated: "The importance of placing these Stratellites in the best location to maximize security for our armed forces is of paramount importance. The technology that we have developed with NASA, the Air Force and other agencies will help save lives and provide quality of life for those that will be the first users of the technology." Mr. Huff continued, "Our capital partners will be afforded initial units and follow on customers will be in line for available capacity." Moreover, the Stratellite represents a last-mile solution to provide internet and telephone to those areas where conventional infrastructure is not in place. Summary: GlobeTel is a rapidly growing business. Evidenced by over 38,000 shareholders, a rapidly growing revenue base, adequate capital on hand, and a seasoned and talented management team. GlobeTel is a business that is far from the illustration that Mr. Bryon described. "This is an unfortunate situation wherein a careless and reckless reporter tried to sell newspapers at the expense of a well run company with a bright future. GlobeTel intends to deal with Mr. Bryon and the New York Post in an appropriate manner and GlobeTel regrets having to respond to this, however, GlobeTel intends on keeping the record straight for its shareholders and not allowing the rogue efforts of this person to hinder the Company or its prospects. GlobeTel can only wonder the true motive behind Mr. Bryon's distortions," according to Mr. Huff. Certain statements in this release constitute forward-looking statements or statements that may be deemed or construed to be forward-looking statements within the meaning of the Private 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 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. GlobeTel and its strategy for launching the Stratellite(TM) may vary as conditions and technology changes. There is the possibility that parts of the process may change or be delayed. While GlobeTel plans for the success of the Airship, there is no guarantee that it will achieve any or all of its objectives. The performance of the new wireless division cannot be guaranteed, there are references that while management believes are probable, and there are no guarantees as to its success. Any reference within this release that refers, or implies a forward-looking statement, is herewith incorporated into this Safe Harbor language. The full terms of the asset acquisition will be included in the Company's required filing.
GlobeTel Communications Corp., Fort Lauderdale Maria Vasquez, 954-241-0590 investors@globetel.net
Copyright Business Wire 2005
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Eek!]](eek.gif)
