posted
The tethered testing has already been completed from what GTEL said in a past pr. I am just wondering what kind of tethered testing they did since the main fans(motors) weren't attached yet?
I am considering buying back in soon. It's almost that time.
posted
From the photos I saw, it looked like they simply wanted to float it in the hangar like a dang ol' party balloon. One assumes they ran some metrics as well, but that's actually a good question for the company: what data did you collect and what do they indicate (if anything). I grabbed me a dab earlier this week just so I don't miss a run; the 19-22 level seems like a pretty solid floor.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Wasn't it facing the other way in the hangar at the preview? I don't know if the hangar is large enough to turn it around inside, but maybe they took it out for a quick 180 degree spin.
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Member Rated: posted May 13, 2005 18:02 Posted by ;Buy Tex -------------------------------------------------------------------------------- From the photos I saw, it looked like they simply wanted to float it in the hangar like a dang ol' party balloon. One assumes they ran some metrics as well, but that's actually a good question for the company: what data did you collect and what do they indicate (if anything). I grabbed me a dab earlier this week just so I don't miss a run; the 19-22 level seems like a pretty solid floor.
I may buy a position at .19,... There is 4 rudders for directional control. This is not the full sized airship, granted....However I'm not real sure if there is enough directional control surface to adequately control the airship in the event they loose power to one of the propellers....Where are the engines anyway?
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Oh thats just great peaser, now we'll have reports of" invisible " airships flying around people's house's at night..........In your case, it just might be true.........Seen any black helicopters lately ?
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Good article/interview with Leigh Coleman...
May 1, 2005 by: Robert Poe America's Network
Production stratellites will range from 450 to 800 feet in length, and will carry payloads of from 500 to 2,000 lbs.
Technological innovations with the potential to turn industries on their heads often face huge challenges in gaining commercial acceptance. The latest example comes from Sanswire, a subsidiary of Florida-based IP telephony provider GlobeTel Communications.
The company plans to turn communications topsy-turvy by using "stratellites," updated dirigibles, to relay cellular or other wireless transmissions among different points within a 200-mile-diameter footprint.
The company unveiled a near-complete 188-foot-long prototype in Southern California in mid-April. Launch of the first of the full-fledged commercial versions, which will range in length from 450 to 800 feet and carry payloads ranging from 500 to 2,000 lbs., is scheduled for early next year. Stratellites will stay aloft 18 months before returning to earth for retrofitting.
ECONOMIC ALTERNATIVE According to GlobeTel president Leigh Coleman, the governments of Peru and Colombia have already placed orders, along with unnamed U.S. companies. The U.S. Army and Air Force are interested. The production goal is some 300 airships a year by 2007.
The main reason for the intense interest is economics, according to executives. "The cost will be a fraction the cost of a satellite," says Robert Jones, the former NASA official who is now overseeing the airships' construction as president of Sanswire's government services group.
Stratellites will also compete favorably on cost with terrestrial wireless infrastructure, according to Coleman. They will be able to relay 3G and 4G cellular signals without handset modification, as well as fixed broadband wireless to and from ground locations through small antennas, he says.
Non-cellular-based mobile broadband will have to wait for the availability of WiMAX mobile technology. GlobeTel estimates that it is possible to build a nationwide wireless infrastructure using about 300 stratellites. With economies of scale and other savings, such a system could cost significantly less than a comparable terrestrial wireless network.
REPLACEMENT INFRASTRUCTURE Coleman also notes that stratellites can replace three types of wireless infrastructure at once: cellular, fixed wireless broadband, and satellite. All in all, he says, once stratellites start operating, "We believe there will be a paradigm shift in the way we communicate."
On the other hand, Christopher Baugh, president of satellite market research firm Northern Sky Research, notes that "satellite bandwidth is already in orbit. Putting something in the air is just one part of the equation." Working out the business case for the use of the stratellites will be equally challenging, he claims. All in all, he says, "I think it's pretty speculative and pretty far in the future."
That might not contradict the GlobeTel/Sanswire vision as much as it seems. When you're moving at the aerospace equivalent of Internet time, even next year appears pretty far in the future.
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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Form 10QSB for GLOBETEL COMMUNICATIONS CORP
16-May-2005
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
General
Three months ended March 31, 2005, ("2005" or "the current period") compared to the three months ended March 31, 2004, ("2004" or "the prior period").
Results of Operations
Revenues. During the current period, our gross sales were $18,010,643, representing an increase of 461.1% over the prior period when our gross sales were $3,210,333. Our revenues increased primarily due to revenues from our subsidiary, Centerline and its subsidiaries, which recorded consolidated revenues of $13,399,726 (or 76.1% of total revenues), consisting primarily of wholesale traffic revenues (telecommunications minutes) and related network management fees. The remainder of our revenues continued to be predominantly from telecommunications minutes going through our Philippines and Brazil networks.
Philippines network generated $3,491,970 (or 20.2% of gross revenues) and our Brazil network generated $101,368 (or less than 1% of gross revenues). Other domestic and international wholesale traffic revenues were $14,417,305 (or 79.0% of gross revenues), including revenues $2,988,375 (or 16.6% of gross revenues) from Mexico (unrelated to our Mexico network). Our Mexico network generated no revenues.
Additional revenues generated included $700,000 from a network built for an international client (netting in $35,000 of gross profit, after costs of $665,000). Revenues from our Magic Money program were $39,585 and $2,976 from the sale of IP Phones. There were no sales from these programs in the prior year.
Cost of Sales. Our cost of sales consists primarily of the wholesale cost of buying bandwidth purchased by us for resale, collocations costs, technical services, wages, equipment leases, and the costs of telecommunications equipment. We had cost of sales of $17,283,963 for the current year, compared to $3,164,741 for the prior period. We expect cost of sales to increase in future periods to the extent that our sales volume increases.
Gross Margin (Loss). Our gross margin was $726,680 or 4.0% for the current period, compared to $45,592 or 1.4% of total revenues in the prior period, an increase of $681,088 or 767.9%. The increase is primarily due to the fact that there was lower margin on resale of wholesale minutes related to the increased cost of the minutes to terminate, especially the Mexico network, where our margin was less than two percent, and initial activities of Centerline, where our gross margin was minimal or zero in the prior period. We expect to derive higher margins once we formally take over the operations of our customer's Mexico network as described in Part II, Item 1 "Legal Proceedings," and commence sales directly to the retail market.
Operating Expenses. Our operating expenses consist primarily of payroll and related taxes, professional and consulting services, expenses for executive and administrative personnel and insurance, bad debts, investment banking and financing fees, investor and public relations, research and development, sales commissions telephone and communications, facilities expenses, travel and related expenses, and other general corporate expenses. Our operating expenses for the current period were $4,299,018 compared to prior period operating expenses of $1,341,459, an increase of $2,957,559 or 220%. The increase is primarily due to the following.
Consulting and professional fees increased to $1,238,458 (including non-cash compensation of $716,400), from $194,405 in the prior period. Investment banking and financing fees increased to $439,715 in the current period, related to obtaining funding of approximately $4.8 million, compared to none in the prior period
In addition, employee payroll and related taxes for the current period were $570,501 compared to $72,288, an increase of $494,303 or 637.9%. This increase was due to expansion of our operations, facilities and workforce, related to additional services required to develop and expand our geographical and product markets and projects, including our Stored Value Program, our Sanswire Project, and international markets, primarily in Asia and Australia, as well as increased professional fees in maintaining and expanding a public company.
We incurred $443,924 of research and development costs for our Sanswire project - development of the Stratellite during the current period, compared to none in the prior year, whereas the Sanswire assets were acquired in April 2004.
We incurred $724,513 of sales commissions for our Centerline operations during the current period, compared to none in the prior year, whereas the Centerline operations began in after the prior period in 2004.
Income (Loss) from Operations. We had an operating loss of ($3,572,338) for the current period as compared to an operating loss of ($1,295,867) for the prior period, primarily due to increased operating expenses as described above, including the expansion of our various programs. We expect that we will continue to have higher operating costs as we increase our staffing and continue expanding operations, programs, projects and operating costs related to our newly acquired subsidiaries.
Other Income (Expense). We had net other expenses totaling $27,715 during the current period compared to $2,700 in the prior period.
Net Income (Loss). We had a net loss of ($3,600,053) in the current period compared to a net loss of ($1,298,567) in the prior period. The net loss is primarily attributable to the increase in the operating expenses as discussed above.
Liquidity and Capital Resources
Assets. At March 31, 2005, we had total assets of $15,124,388 compared to total assets of $4,292,220 as of March 31, 2004.
The current assets at March 31, 2005, were $6,390,994, compared to $3,877,848 at March 31, 2004. As of March 31, 2005, we had $3,604,441 of cash and cash equivalents compared to $333,917 as of March 31, 2004. The increase in cash and cash equivalents is primarily related to private placement funding during the current period.
Our net accounts receivable were $2,575,932 as of March 31, 2005, compared to $3,039,427 at the same point in 2004. Approximately 94% of the March 31, 2005, receivables were attributable to four customers, including 27% or $695,087 (net of allowance) related to the Mexico network, 19% or $485,800 (net of allowance) related to the Brazil network and 48% or $1,232,310 related to the Philippines network. We have increased our allowance for doubtful accounts by $94,095 for the year.
Other current assets included $49,307 in prepaid expense, primarily prepaid minutes with carriers, compared to $245,300 in 2004; $60,976 inventory of IP Phones, compared to none in the prior year; and deposits on equipment purchases and other current assets of $88,994 compared to none in 2004.
We had other assets totaling $3,181,363 as of March 31, 2005, compared to $27,057 as of March 31, 2004. The increase was attributable primarily to the acquisition of the Sanswire intangible assets valued at $2,778,000 and investment in CGI, our unconsolidated foreign subsidiary, totaling $352,300 as of March 31, 2005. Neither of these two items existed as of March 31, 2004.
Liabilities. At March 31, 2005, we had total liabilities of $2,765,146 compared to total liabilities of $1,423,180 as of March 31, 2004.
The current liabilities at March 31, 2005 were $2,761,176 compared to $1,423,180 at March 31, 2004, an increase of $1,337,996. The increase is principally due to $1,163,786 due to CGI, our unconsolidated foreign subsidiary, contractual obligations netting $481,363 due to CSI, and $300,000 in sign-on bonuses payable to Sanswire employees with GlobeTel stock. There were no significant long-term liabilities as of March 31, 2005 and 2004.
Cash Flows. Our cash used in operating activities was ($2,525,356) for the current period, compared to ($1,137,403) for the prior period. The increase was primarily due to the increased level of operations and operating activities and changes in our current assets and liabilities.
Our cash used in investing activities, including acquisitions of property and equipment totaling ($5,151,177), relating primarily to our expanding telecommunication program, compared to ($3,792) in the prior year.
Net cash provided by financing activities was $10,679,415, principally from proceeds from the sale of preferred stock of $5,085,200 for the current period, compared to $1,132,060 in the prior period; proceeds totaling $1,800,000 (before related costs) for convertible notes payable; $2,631,120 from sales of common stock, relating to the exercise of warrants by convertible note holders; and proceeds of $1,163,786 (net of repayments) from the loan payable to CGI.
In order for us to pay our operating expenses during 2005, including certain operating expenses of our wholly-owned subsidiaries, Sanswire and Centerline, and the overall expansion of our operations, we raised approximately $10.7 million during the current period. An additional, private placement funding approximately $3.5 million is expected to be received during the second quarter of 2005.
As detailed in the financial statements, we have stock subscriptions receivable for preferred shares that will raise a total of approximately $7 million in cash in 2005, primarily in the form of financing provided by Series B preferred shareholders. Of these funds, $5 million is committed to the purchases of equipment (two data switches) for our stored value program. With this funding, as well as the additional funding received to-date in 2005, we will have the existing capital resources necessary to fund our operations and capital requirements as presently planned over the next twelve months. However, if we do not receive the full amount, then we may not have the existing capital resources or credit lines available that are sufficient to fund our operations and capital requirements and therefore we may have to pursue additional funds through the issuance of debt and/or equity instruments.
Furthermore, the capital markets have responded favorably to our growth and business strategies through to-date in 2005, particularly as a result of our Stratellite project, and increased investment is anticipated in the near term.
As reflected in the accompanying financial statements, during the period ended March 31, 2005, we had a net loss of ($3,600,053) compared to a net loss of ($1,298,567) during the prior period. Consequently, there is an accumulated deficit of ($43,261,089) at March 31, 2005, compared to ($27,792,733) at March 31, 2004.
This Form 10-Q and other statements issued or made from time to time by GlobeTel contain statements which may constitute "Forward-Looking Statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934 by the Private Securities Litigation Reform Act of 1995, 15 U.S.C.A. Sections 77Z-2 and 78U-5 (SUPP. 1996). Those statements include statements regarding our intent, belief or current expectations, our officers and directors and the officers and directors of our subsidiaries as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results and the timing of certain events may differ materially from those contemplated by such forward-looking statements.
Forward-looking statements include, but are not limited to, statements about our plans, objectives, expectations, intentions and assumptions and other statements that are not historical facts. Words like "expect", "anticipate", "intend", "plan", "believe", "seek", "estimate" and similar expressions identify forward-looking statements.
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GTEL Announces First Quarter 2005 Results Monday May 16, 7:50 am ET Reports Significant Improvements
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--May 16, 2005--GlobeTel Communications Corp. (OTCBB: GTEL - News), reported today in its filing of SEC Form 10Q, that during the quarter ended March 31, 2005, the company had revenues of $18,010,643 resulting in a net loss of $3,600,054. In comparison, the company had revenues of $3,210,333 for the quarter ended March 31, 2004 with a net loss of $1,298,567.
In comparison to the fourth quarter of 2004, the company is providing the following information:
Timothy Huff, CEO of GlobeTel, stated, "We are pleased with our overall performance and our increase in shareholder value. We will continue to incur losses as we grow out our business, however, we expect the losses to diminish, quarter over quarter. We are also pleased that our numbers that we wanted increases in, increased and those numbers that are supposed to go down went down. Revenues and margins are up. G&A costs and net losses are down. We are exceptionally pleased with the overall financial health of the Company as evidenced by the significant increases in our Total Assets and our Stockholders Equity."
General and administrative costs reported by the company include extraordinary expenses and other non-recurring expenses of approximately $1.87 million. Excluding these costs, the actual operating costs were less than $1.65 million.
Mr. Huff continued, "Our revenues for the FY 2004 were over $29 million and this quarter alone, we had over $18 million. This puts us on our projected run rate of approximately $72 million. As we grow, we will continue to incur one-time charges that will ultimately help the profitability of our company. While the costs have decreased from the last quarter, they are still significant as the company continues to be in an expansion mode."
The company has been building its operations and has been hiring quality personnel to prepare for the future and will be adding additional office spaces at its headquarters which will almost double its current office spaces. Likewise, the company's wholly-owned subsidiary, Sanswire Networks, LLC, is also expanding, hiring high-level aerospace engineers and numerous staff for the build-out of its Stratellite and will be moving to bigger facilities at its new location at Palmdale, California.
Mr. Huff concluded, "The Company is stronger than it has ever been and we continue to have institutional investors invest in the company. We are in the midst of revamping our organization and improving our operations as part of our overall goal of reaching breakeven and then profitability by the end of 2005. With all these significant changes and our move from the OTCBB to the American Stock Exchange in the immediate future, it will be truly exciting times at GlobeTel and especially for our shareholders."
About GlobeTel Communications Corporation:
GlobeTel Communications Corporation is a diversified Telecommunications and Financial Services Company. GlobeTel Communications Corporation 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 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. Contact:
quote:Originally posted by Peaser01: Maybe they're invisible? LOL jk.
.19-.21 sounds good for me too. A few weeks after the R/S + move to AMEX it'll be at a decent buy range as well I believe.
Peaser, come on now. you will never see .19 - .21 again. A great 10 k today for a development company and the move to the Amex later this week... It will continue up from here and then be $4.00 a share on Thursday... If it ever see's .19 after that we are all in trouble.
-------------------- If all goes well then great, if not, make it work.
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GTEL Announces First Quarter 2005 Results; Reports Significant Improvements via COMTEX
May 16, 2005
FT. LAUDERDALE, Fla., May 16, 2005 (BUSINESS WIRE) --
GlobeTel Communications Corp. (OTCBB: GTEL), reported today in its filing of SEC Form 10Q, that during the quarter ended March 31, 2005, the company had revenues of $18,010,643 resulting in a net loss of $3,600,054. In comparison, the company had revenues of $3,210,333 for the quarter ended March 31, 2004 with a net loss of $1,298,567.
In comparison to the fourth quarter of 2004, the company is providing the following information:
1st Quarter 4th Quarter 2005 2004 Change ----------- ----------- ------------Revenues $18,010,643 $14,486,589 + $3,524,054 =========== =========== ============Gross Margin $ 726,680 $ (176,017) + $ 902,697 =========== =========== ============Net loss $ 3,600,054 $ 8,416,953 - $4,816,899 =========== =========== ============Total Assets $15,124,388 $ 6,195,977 + $8,928,411 =========== =========== ============Total Stockholder Equity $12,359,242 $ 5,276,577 + $7,082,665 =========== =========== ============ Timothy Huff, CEO of GlobeTel, stated, "We are pleased with our overall performance and our increase in shareholder value. We will continue to incur losses as we grow out our business, however, we expect the losses to diminish, quarter over quarter. We are also pleased that our numbers that we wanted increases in, increased and those numbers that are supposed to go down went down. Revenues and margins are up. G&A costs and net losses are down. We are exceptionally pleased with the overall financial health of the Company as evidenced by the significant increases in our Total Assets and our Stockholders Equity."
General and administrative costs reported by the company include extraordinary expenses and other non-recurring expenses of approximately $1.87 million. Excluding these costs, the actual operating costs were less than $1.65 million.
Mr. Huff continued, "Our revenues for the FY 2004 were over $29 million and this quarter alone, we had over $18 million. This puts us on our projected run rate of approximately $72 million. As we grow, we will continue to incur one-time charges that will ultimately help the profitability of our company. While the costs have decreased from the last quarter, they are still significant as the company continues to be in an expansion mode."
The company has been building its operations and has been hiring quality personnel to prepare for the future and will be adding additional office spaces at its headquarters which will almost double its current office spaces. Likewise, the company's wholly-owned subsidiary, Sanswire Networks, LLC, is also expanding, hiring high-level aerospace engineers and numerous staff for the build-out of its Stratellite and will be moving to bigger facilities at its new location at Palmdale, California.
Mr. Huff concluded, "The Company is stronger than it has ever been and we continue to have institutional investors invest in the company. We are in the midst of revamping our organization and improving our operations as part of our overall goal of reaching breakeven and then profitability by the end of 2005. With all these significant changes and our move from the OTCBB to the American Stock Exchange in the immediate future, it will be truly exciting times at GlobeTel and especially for our shareholders."
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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GTEL Announces Amendment to its Information Statement, Form 14C, and Revised Date for Moving to the American Stock Exchange
FT. LAUDERDALE, Fla., May 16, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (OTCBB: GTEL), today announced that it has filed an amended 14 c information statement clarifying the date for the effectiveness of the announced reverse share split and move to the American Stock Exchange. The Company has amended its information statement to remove certain ambiguities and to reflect, among other things, that the effective date of the announced reverse split is anticipated to be on May 23, 2005. The last trading date for shares on the OTC Bulletin Board is anticipated to be May 20, 2005.
The Company expects its shares will begin trading on the American Stock Exchange under the symbol GTE on Monday May 23, 2005, on a post split basis. The American Stock Exchange granted approval to their exchange contingent upon the Company affecting a 1 for 15 reverse stock split.
Timothy Huff, CEO of GlobeTel stated, "We are making preparations for our move to the American Stock Exchange and look forward to being a listed company on this quality financial institution. We will provide updates for our shareholders as we proceed down this path and want to thank all of the shareholders who have provided so much support to our management team in understanding the value of this restructuring and the excitement about the move to the AMEX."
Mr. Huff continued, "With this capital restructuring and move almost complete, we remain focused on developing our core businesses and expect significant accomplishments in the coming future. I share the sentiments of all the employees and partners of GlobeTel in celebrating the steps and progress that we have made thus far."
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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I'm with Peaser. I want the pps to drop so I can load up. I'm only holding 50k shares right now. My fuzzy math makes my holdings only 3333 1/3 shares post-split
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OK glassman, here's a good question since I've never been involved in a double happening like this.
With GTEL doing the RS and going to AMEX at the same time what will the MM's do at the end of this week? Will they want to get rid of their holdings or hold through the AMEX transfer?
posted
Glassman)Just wanted to say THANK YOU for GTEL! It's going to be a success IMHO. I hope we all prosper from the strats. I like the security aspect of this, but having a clear uninterupted cell phone conversation from anywhere will really be welcome. Good Luck to everyone!!!
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In regards to RS...Anyone have examples of other companies in the past that were once "penny stocks", then had a RS and are now large dominant stocks on NASDAQ, AMEX, etc.?
-------------------- No matter how thin you slice it it's still baloney...
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