posted
I sure hope this one shows a reveral. The news it is putting out looks great but the news that "trusted" sites are putting outis horrid. I sure hope people actually look at the stock itself and all the news it has. Oh well.
posted
ADDING and REPLACING GlobeTel Cites Details of Russian Wireless Agreement Monday January 9, 11:20 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 9, 2006--Add forward-looking statements after last graph of release. The corrected release reads:
GLOBETEL CITES DETAILS OF RUSSIAN WIRELESS AGREEMENT
GlobeTel's (AMEX:GTE - News) entry into the Russian communications market is the culmination of more than a year of meetings with Russian investors, members of the Russian Parliament and leaders of the Russian technology sector. The successful results of those discussions and final negotiations were released by GlobeTel to its shareholders and to the public on December 30, 2005. In order to further clarify the nature of the transaction, GlobeTel Communications Corp. today has provided below the following additional information about the transaction. The full contract may be viewed as part of the company's 8-K filing with the SEC on January 6, 2006.
Q. Who are the counterparties to the Russian Agreement?
A. GlobeTel Wireless, GlobeTel's wholly-owned subsidiary, has entered into a binding contract with LLC Internafta ("Internafta"). Internafta is a private Russian special purpose corporation formed by a group of wealthy Russian investors (the "Investors" or "Internafta") for the specific purpose of deploying GlobeTel's proprietary wireless communications systems throughout the Russian Federation.
Q. How much is being invested and when will the payments begin?
A. Internafta will pay to GlobeTel a total of US$600 million in order to acquire and to install GlobeTel's wireless networks in 30 of the Russian Federation's largest cities. Internafta will make a series of "progress payments" which are both time- and progress-based. The first installment will be paid this month. This first US$150 million payment represents a construction deposit that will allow GlobeTel to initiate the assembly of the equipment necessary for the network installation in an initial group of 10 cities. As each of three groups (of 10 cities each) achieves a 50% completion rate, a US$75 million progress payment will be released to GlobeTel. Upon 95% completion of any city group, a remaining US$75 million payment will be released for that city group. Ultimately, then, as each of the three city groups achieves, first, a 50% and then a 95% completion rate, six US$75 million progress payments, plus the initial deposit of US$150 million, will have been made to GlobeTel Wireless, totaling US$600 million.
Q. How much time will be required for GlobeTel to install the total network?
A. GlobeTel currently estimates that the entire network will be fully installed over a 27 month period. Although the full network installation is estimated to occur over this period, fee-paying subscribers are expected to be brought onto the network in phases. After a 60-day "planning and preparation" phase starting on February 1st, the installation is expected to begin on April 1st.
Q. Who will operate the network?
A. The network will be operated by NuTel Wireless ("NuTel"), a Russian company which will be owned 100% by a European Joint Venture company which is being established by GlobeTel and Internafta. Each party will own 50% of the shares of the European JV company which owns NuTel. NuTel Wireless is a newly-incorporated Russian operating company. The Operation Control Centers responsible for operating, monitoring and maintaining the network will be located in Russia (Moscow), in Germany and at our Network Operations Center in Florida.
Q. How many people will be serviced by this new network?
A. Approximately 70% of Russia's population lives within the greater metropolitan area of the 30 cities where the individual networks will be installed. However, beyond the significant residential market(s) that will be the largest users (numerically) of NuTel's wireless services, the company will also market its "institutional services" to both businesses and government agencies. The company's goal is to obtain 10 million subscribers during the first three years of operations. Given our highly competitive cost base and pricing strategy, we are optimistic that we will be able to meet, or exceed, this target.
Q. Where will GlobeTel source the equipment required to complete the installation?
A. GlobeTel designs, manufactures, assembles and installs its own equipment. GlobeTel's system, once installed, will provide NuTel clients with many services ranging from voice services utilizing our unique "VoIP over DECT Protocol", direct wireless access to high-speed Broadband internet service and even wireless IPTV services to come later in the deployment - all at exceptionally competitive rates.
Q. What is DECT?
A. One of the most important technological advancements of the GlobeTel Wireless system is its DECT-phone feature. DECT is currently the most widely-used technology in the manufacturing of cordless telephones outside the United States. DECT technology allows the "pairing" of one or more handheld, cordless phones with a base station in order to ensure no interference exists between the DECT-phone and any other wireless phones in the operating area. Each DECT-phone is assigned its own unique address (code). That address ensures a fully encrypted wireless transmission between the phone and its base station. GlobeTel's wireless systems are designed to detect that discrete DECT address, to identify it, and, once identified, to wrap that DECT transmission into an IP packet which will, in a highly proprietary fashion, bring it into the GlobeTel WiMax processing environment. The major cost of deploying any wireless network, anywhere in the world, is the hardware cost of the CPE (Customer Premise Equipment). GlobeTel's DECT feature uniquely allows the hundreds of millions of DECT phones already in use in Europe, Asia and Latin America to instantly integrate with the GlobeTel network with absolutely no further programming or additional equipment required. GlobeTel is able to provide a DECT Phone system to homes and businesses, where required, for less than US$20 per hand-held unit. This low cost basis and the prevalence of DECT-phones throughout most non-U.S. markets allows the rapid international deployment of GlobeTel's wireless networks to virtually every country in the world, almost regardless of any particular country's local economic realities.
Q. How does a subscriber access the GlobeTel wireless network?
A. Our wireless DSL/broadband CPE will cost each subscriber less than $50. Also, in most cases our system has been designed so that standard WiFi equipment (of the type which is currently installed in most laptops and desktop computers) will be able to instantly and directly communicate with the GlobeTel wireless networks, with no requirement for complicated set-up routines, and (importantly) without the need for GlobeTel to install networks of typical costly, environmentally-unattractive towers in the service area.
Q. US$600 million is a lot of money. Why did Internafta select GlobeTel for this large wireless installation contract? Why not the usual equipment suppliers like Lucent (NYSE:LU - News) or Motorola (NYSE:MOT - News)?
A. Lucent and Motorola are not in the business of installing WiMax-related networks. They provide, instead, equipment for traditional cell phone networks. In fact, as surprising as it may seem, there is no single large company operating in the WiMax-installation arena today. Additionally, GlobeTel has designed, developed and manufactures its own, highly proprietary system which incorporates a number of unique user advantages, such as the DECT-phone interfaces which we have previously discussed. GlobeTel is also one of the very few companies that can actually demonstrate and deploy a working system. In fact, GlobeTel's highly successful wireless demonstration conducted for members of the Russian Parliament (the Duma), in the presence of a number of high-level government officials and telecommunications experts was an important factor in GlobeTel's selection as Internafta's equipment provider and operating partner. That demonstration dramatically proved not only the "WiMax" capabilities of the GlobeTel system but, also, its unique DECT functionality. In the process of demonstrating the GlobeTel Wireless system, the GlobeTel team was able to instantly integrate a DECT cordless phone which happened to be located within the presentation auditorium and to operate it on the GlobeTel demonstration system. Also, those members of this distinguished audience who had access to their laptops were immediately able to access the GlobeTel broadband network in order to watch an IPTV broadcast with absolutely no additional hardware or installation procedures. It is important to point out that GlobeTel Wireless is the only company in the market today that has designed a base station that incorporates WiFi, WiMax and DECT VoIP functions into one "black box". This proprietary system then provides all three features at a dramatically lower cost than the other WiMax-only products which are only just now beginning to enter the market.
Q. Sounds impressive. And, clearly, the Russians were impressed. But, still, GlobeTel is a relatively small company. Were they not concerned about your capacity to provide these networks on a large scale?
A. Not only did the GlobeTel systems work exactly as represented to the members of the Russian Government and to selected business leaders (and, in fact, exceeded their expectations), but the GlobeTel team members have a deep history of constructing and operating large scale networks, and this gave our partners a strong sense of the company's delivery capabilities. As a matter of historical background, Timothy Huff, GlobeTel's CEO, was a key team member of the design & implementation group that constructed MCI's first International Gateway Centers in the 1980's. Mr. Huff has also worked in leading roles with many large carriers and, early on, was involved in the installation of one of the first large-scale IP carrier networks into Mexico. This expertise, in concert with the combined expertise of many of GlobeTel's founding pioneers in the technology arena, gave Russia's own technology experts great confidence about the esoteric science underlying GlobeTel's many wireless products. Also, because of this experience, Internafta has come to accept that GlobeTel's Management, with the requisite funding, has the proven ability to create project "SWAT" teams capable of building out the network.
Uli Altvater, President of GlobeTel Wireless worked for over 7 years with IBM in Germany developing and installing mainframe and networking products. He developed major software and network applications which were installed at large German companies and, for the most part, remain in active use. He then designed and deployed one of the first wireless data devices for the German Navy and Air Force. He subsequently worked in the development and deployment of both wired and wireless networks, hardware and software applications for the German military for over 10 years. Following his experience with the German military, Mr. Altvater designed, deployed and operated wireless networks for more than 10 years in a variety of markets throughout the world. While much of his life has been dedicated to the installation and deployment of wireless networks, his predecessor company designed and deployed the technology that has ultimately become the HotZone 4010. This 4010 box incorporates WiFi, WiMax and VoIP/DECT features in a single low-cost base station. GlobeTel acquired the complete library of HotZone intellectual property from Mr. Altvater last year and he now he heads up GlobeTel's business division known as GlobeTel Wireless
Robert Jones, President of a GlobeTel subsidiary, Sanswire Networks, who is a former NASA Mission Director and decorated Air Force pilot, has worked with Mr. Altvater for some time to create proprietary wireless solutions using unprecedented terrestrial wireless systems which integrate with Sanswire's soon-to-be-delivered near-space airship (the "Stratellite"), in order to produce what will be widely acknowledged to be the ultimate wireless delivery system.
In addition to GlobeTel's technical expertise, Internafta gained considerable additional comfort from the fact that GlobeTel is an AMEX-listed, public company with a high degree of transparency, regulatory oversight and accountability. Also, the quality of GlobeTel's Officers and Directors was not lost on the Investors as they completed their technical and organizational due diligence. For example, they were impressed by GlobeTel's unusual (for its size) international expertise and reach. Sir Christopher Meyer, Chairman of GlobeTel's Board of Directors and recent British Ambassador to the United States, brings more than 30 years of Foreign Service experience (starting with an initial posting to the former Soviet Union where he became fluent in Russian). In his senior roles supporting Prime Ministers Thatcher, Major and Blair - Sir Christopher's presence clearly reinforced GlobeTel's cross-border expertise and ability to operate comfortably in the international marketplace. Also, J. Randolph Dumas recently joined the company as a Director and as Executive Vice Chairman of the company, after more than two decades of successful experience working around the world as a senior Managing Director at Salomon Brothers International Ltd., and within his own international private equity firm. In fact, Mr. Dumas stepped down from his position as Managing Partner of Rubikon Partners in order to devote more time to the achievement of GlobeTel's international ambitions. (Rubikon Partners is a private investment group founded by Mr. Dumas, Dr. Henry Kissinger, Thomas "Mack" McLarty III (President Bill Clinton's first chief of staff) and Leo A. Daly III (owner of the world's largest private architectural and engineering firm). These individuals, along with an impressive array of other new and existing Officers and Directors, greatly heightened our Russian partners' awareness of GlobeTel's surprising "reach" in the areas of science, engineering, geo-politics and cross-border business.
Q. Why not use GlobeTel's Stratellite platform in lieu of this terrestrial wireless solution?
A. The "Stratellite(TM)" is GlobeTel's high altitude airship which is in the late stages of testing and production. GlobeTel anticipates that "fleets" of these unprecedented aerial platforms will ultimately be placed in a series of geo-synchronous positions over targeted territories as a means of providing unparalleled wireless telecommunications services to very large geographical areas (i.e. over entire countries, rather than single cities). However, GlobeTel's last technology demonstrator ("Sanswire II") is in the final stages of testing and production and, thus, its commercial variant is still six to twelve months away from initial, and subsequent broad-scale deployment. In fact, when deployed, each Stratellite's technical "payload" will incorporate the identical, proprietary radio technology that is contained in GlobeTel's HotZone 4010 network, which is the backbone of the system to be constructed in Russia over the next 27 months. The Russian network (and all other GlobeTel wireless networks which are in advanced or final negotiations in other countries around the world) will be fully compatible with, and will be instantly up-linked to any regional Stratellite when it is deployed in an area where a Hotzone system has been previously installed. Given the still several years required to create a meaningful, broad-area Stratellite network over a region as large as the Russian Federation, Internafta has concluded that the cost-benefit ratio of an immediate wireless network installation (with subsequent compatibility with the Stratellite) is too favorable for any further delays. It is GlobeTel's expectation, however, that the Stratellite and the Hotzone system will be offered as a single, integrated system in the future, with even greater voice, data and video delivery capabilities. When this occurs, the NuTel "city systems" will become part of this single, integrated, nationwide system.
Q. Where else does GlobeTel plan to deploy HotZone-based networks?
A. GlobeTel is currently initiating pilot programs in Mexico, Malaysia, Peru, Colombia, China, Argentina and Germany. Upon the successful completion of these pilots, GlobeTel expects to begin wide-scale deployments of its proprietary wireless networks in each of these countries.
Q. What kind of operating revenues does GlobeTel Wireless anticipate from its Joint Venture interest in NuTel?
A. Because quality wireless services within the Russian Federation are both rare and very expensive - GlobeTel and its partners believe a monthly subscription fee pitched at level which is 50% lower than existing monthly charges within Russia for more basic telephone and broadband services will create a highly competitive revenue model for the company. And, in this context, GlobeTel believes the NuTel venture should reasonably capture a market share which is 10% to 30% of the current (and growing) market. This suggests a monthly subscription charge of between US$35 and US$50 (equivalent) per month, per subscriber. At this level, NuTel's services should be widely accessible (i.e. affordable) to very large swaths of the Russian population within NuTel's 30-city marketplace. Currently-available broadband and telephone services within the Russian Federation - invariably of lower quality and with fewer capabilities - typically cost a Russian subscriber between US$75 - US$100 per month. If, as anticipated, NuTel achieves its goal of 10 million subscribers during its first three years of operation (while employing an aggressive print, internet, mobile phone and television advertising campaign), this implies operating revenues of between US$350 million and US$500 million per month. After relevant G&A expenses estimated to be less than 10% of gross revenues, this further implies that GlobeTel Wireless should receive 50% of this net monthly revenue stream (based on its 50% shareholding in the Joint Venture). GlobeTel believes that these are conservative estimates of both market penetration and pricing, but it also recognizes that these are developing markets which may take more time to develop than is expected.
Q. What risks does GlobeTel see in this seemingly huge business opportunity?
A. Like all business opportunities, wherever in the world, there are the usual array of risks: default risk, credit risks, political risks, technical risks, construction risks, competitive risks, corruption risks, etc. GlobeTel has made every reasonable effort to identify and to assess its ability to manage (and to be compensated for) each risk that it identifies.
-- Credit Risk: Because the Russian Federation is, like the vast majority of the world, an emerging economy with a lower, average per capita income than the average G-7 country - there are likely to be greater credit risks (at the subscriber level) than would be the case in a fully-industrialized, free-market economy. However, NuTel will have the technical ability to immediately terminate any subscriber's service if there is either non-payment, delayed payment or attempted abuse of the system. Likewise, it has the ability to immediately re-instate the service, should any credit issue be resolved.
-- Default Risk: GlobeTel has made every effort to assess the potential for default risk by the Russian Investors and, apart from its own comfort level based on more than a year of exposure to them and to numerous high-level Russian government officials, the risk appears quite low. However, this business assessment aside, it will be entirely evident, within the very immediate future, upon receipt of the first US$150 million installment, that the likelihood of any default is highly improbable.
-- Political Risk: President Putin takes the Presidency of the G-8 during the next few days. In spite of constant press speculation about the political ambitions and future of the Russian Federation, it appears that Russia - as the largest natural gas producer in the world and as the second largest oil producer after Saudi Arabia - has both the economic wherewithal, the intellectual base, the geo-political influence and the ambition to bring its entire population up to a quality-of-life and per capita income standard which is equivalent to its G-7 neighbors. Although there will be inevitable political hiccups (witness Russia's recent, and brief, shut-off of natural gas deliveries to the Ukraine, resulting in censures from virtually every leader in the Western world) - it has too much to lose to create a business environment which repels international capital and technology as a result of under-developed legal and market protections. GlobeTel is satisfied that any political risks are modest with regard to this project.
-- Technical and Construction Risks: GlobeTel is entirely confident about the technical quality and deployability of its Hotzone wireless networks. This is not considered a risk but, rather, GlobeTel's single greatest advantage and protection against most other risks. The risks inherent in GlobeTel's construction and installation obligations are embodied almost entirely in staffing-related matters in connection with its need to hire several hundred new "installation engineers". However, the technical complexity associated with the installation process is quite basic and the probability of installation failures and delays is very modest. It is GlobeTel's intention to deploy and to employ a solid, senior and middle management team which will provide both training for and monitoring of employee performance. Fortunately, educational levels within Russia are exceptionally high and the available employment pool, with the appropriate technical capabilities, far exceeds GlobeTel's anticipated requirements.
-- Competitive Risks: At the moment there are very few players in the slowly-emerging WiMax market within Russia. GlobeTel sees no direct (or effective indirect) competition for its advanced wireless offerings. Both in technology and in pricing terms, GlobeTel's competitive position appears to enjoy a compelling First Mover's Advantage. This is expected to create a material barrier-to-entry in terms of the company's growing brand awareness, word-of-mouth ("viral") marketing and customer loyalty. While GlobeTel readily accepts the reality of product life cycles, and they tend to be particularly short in the technology sector, it also expects to have the exceptional competitive advantage of a stratospheric-based airship platform deployed during the coming year which - when widely available - should result in a strong, anti-competitive force within each market where GlobeTel and GlobeTel Wireless have established their products. Also, as a technology leader with market leading products and services - GlobeTel fully expects to continue to anticipate, create, design, test and deploy upgrades as well as complete new product packages and services which are at the front-end of the technology curve.
-- Corruption Risk: As underscored by a seemingly never-ending stream of corporate corruption scandals in even the most regulated markets around the world, GlobeTel recognizes that this is an area which requires constant vigilance. GlobeTel regularly provides briefings and memos to its Officers, Directors and Employees on the risks and penalties associated with any exposure to any corrupt act or behavior involving the delivery of GlobeTel products and services. The company regularly briefs its officers and employees on the U.S. Foreign Corrupt Practices Act ("FCPA") and all employees are educated on the "red flags" which can suggest the possibility of unethical or criminal acts by parties which may be directly or indirectly involved with GlobeTel. The Patriot Act, the Sarbanes-Oxley Act, the FCPA and the "Know Your Customer" rules are always placed uppermost in the minds of those employees who are working in low, medium or high-risk environments. In the case of the NuTel transaction, GlobeTel and its legal & accounting advisors have taken all normal, reasonable (and, when appropriate, exceptional) precautions to ensure that the company's actions are above reproach.
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 Securities 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. Sanswire Networks and the launch of the Company's high-altitude airship are subject to various risk factors and investors should construe any such investment as speculative. The above are more fully discussed in the Company's SEC filings.
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT The Company has entered into agreements with the investors in its August 2005 Convertible Note placement for them to exercise their warrants that had an exercise price of $2.50 per share. The investors will exercise their warrants and the Company will issue to the investors a total of 1,935,606 new warrants with an exercise price of $4.00 per share.
The investors were given "piggy-back" registration rights for the warrants. If the warrants have not been registered after one year, then the investors have a demand registration right.
The warrants expire on August 31, 2008.
Item 3.02. Unregistered Sales of Equity Securities. Reference is hereby made to the information set forth under Item 1.01 above.
Exhibits.
Exhibits included are set forth in the Exhibit Index pursuant to Item 601 of Regulation S-K.
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
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<JavMan>
unregistered
posted
Their Public relations people must be reading about everyones concernes. I am impressed. things should pick up as soon as some of the sites report all this.
-------------------- "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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posted
IMO GTE is the GOLDEN OPPORTUNITY of a lifetime! Do some DD on this company and buy shares under $5.00 while you can. The $600,000,000.00 contract with Russia is just the beginning. Any more big contracts, which are sure to come, $10.00 will be cheap. GLTYA!
Posts: 208 | Registered: Sep 2004
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posted
just a bit from the article; For 2006, the strongest investment will still be into Wi-Fi however. This month, GlobeTel Wireless agreed to install Wi-Fi hotzone networks in 30 cities in the Russian Federation, to offer data and VoIP as well as support DECT cordless phones, which run in the same spectrum as WLan. GlobeTel will provide the networks to Internafta fo Moscow, which will pay $600m for the systems, initially in Moscow and St Petersburg. GlobeTel will manage the systems and retain a 50% share, and all 30 locations should be covered by mid-2008. The Wi-Fi front ends will be backhauled by GlobeTel’s HotZone 4010 equipment, which can use the stratellite technology that the company acquired with Sanswire, especially in rural areas.
"It is beyond exciting to be able to bring this level of connectivity to Russia," said GlobeTel CEO Tim Huff. "Russia will, quickly and at a relatively modest cost, have a wireless infrastructure that will rival any in the industrialized world."
-------------------- jordan Posts: 5812 | From: st paul,mn | Registered: Feb 2004
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posted
Its about bloody time I see a positive day (+.12 ATM)... I am still in the Neg with this company but atleast not as much as yesterday:). We will see where it runs to. Take care all.
quote:Originally posted by PENNY PIRATE: IMO GTE is the GOLDEN OPPORTUNITY of a lifetime! Do some DD on this company and buy shares under $5.00 while you can. The $600,000,000.00 contract with Russia is just the beginning. Any more big contracts, which are sure to come, $10.00 will be cheap. GLTYA!
I will be looking for a large upswing after the first $150MM installment is in hand and PR'ed. It will take most of the "speculation" out of GTE even before there is a PR of the Stratellite flying IMO. As always, watch for swing ops!! GLTA
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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GlobeTel Communications Corp. Appoints Dorian Klein as its Newest Independent Director Wednesday, 11 January 2006
Powered By BusinessWire FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 11, 2006--GlobeTel Communications Corp. (AMEX:GTE), a premiere provider of communications products and enhanced value-added services, announced today the appointment of Dorian B. Klein to its Board of Directors. Mr. Klein will also serve on GlobeTel's Audit, Compensation and Nominating Committees. His appointment is effective immediately.
Dorian Klein has more than 25 years of professional experience in international finance and investments. He has a distinguished record as an investment banker having worked for more than 20 years in New York, London and Tokyo, including roles as Managing Director and Head of European Structured and Principal Finance at Merrill Lynch in London and as Managing Director and Head of Asset Finance at Bankers Trust in London. He also headed the Tokyo office of a highly successful boutique investment bank that he co-founded with his colleagues from Paine Webber during the 80's. During his career as an international investment banker, Mr. Klein structured or executed more than 500 complex securities transactions, in both public and private markets, involving every type of debt and equity security. Mr. Klein is currently the Managing Partner of Rubikon Partners, a private equity firm specializing in mid-cap European buy-ins and buy-outs, which he co-founded together with Dr. Henry Kissinger, the Hon. Thomas McLarty, Leo A. Daly and J. Randolph Dumas. He has also been a private investor in several European technology companies, including several in fields which are directly relevant to the business strategy of GlobeTel. Mr. Klein is also currently on the Boards of Investitori Associati (the largest Italian private equity fund) and Holding.com (a Dutch company with high-tech holdings throughout Europe). Mr. Klein is an alumnus of Yale University (BA in Mathematics) and the Harvard Business School (MBA in Finance).
"I have known Dorian Klein for several years, having initially met him through several of his Founding Shareholders at Rubikon Partners," commented Sir Christopher Meyer, Chairman of GlobeTel's Board of Directors. "He is highly respected by his peers in the financial services arena, and he carries with him the confidence that comes from having been successfully at the center of the most competitive industry in the world for many years. This experience and the solid judgments that come along with it, will be of tremendous benefit to our Board and to the continuing success of the company. This important addition represents another key step in the Board restructuring which I initiated during the summer."
"I very much look forward to my role on the Board of GlobeTel and to working closely with Tim Huff, Sir Christopher Meyer and with their management and Board colleagues," remarked Klein. "I have closely followed the developments at GlobeTel for more than a year, and I see it as a company with all the ingredients necessary to achieve great things. As this happens, I will do whatever I can to help orient the company's global strategic and marketing development in order to fulfill its substantial potential."
About GlobeTel Communications Corporation:
GlobeTel is a diversified, global Telecommunications and Financial Services Company. GlobeTel operates business units in: (i) Stored Value & Remittance Cards as a MasterCard certified processor; (ii) VoIP Carrier-grade, Long-distance Services to major long-distance companies; (iii) VoIP development, technology and equipment manufacturing; (iv) advanced WiMax services utilizing GlobeTel's proprietary "Hotzone" technology; and (v) the development, manufacturing, marketing and provision of nearspace platforms known as Stratellites, which will soon seamlessly integrate all of GlobeTel's communications and financial services technologies around the world.
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.
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 Securities 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. Sanswire Networks and the launch of the Company's high-altitude airship are subject to various risk factors and investors should construe any such investment as speculative. The above are more fully discussed in the Company's SEC filings.
Posts: 234 | From: Gainesville, FL | Registered: Feb 2005
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quote:Originally posted by MoneyMoneyMoney: Nice. I love it. No more below 3's soon to be 4's then 5's. I can't wait. Go gettem GTE.
I could still see that in the future....if you read the 8-k filing, you would of read that if it fails....GTE pays Russia back the money. They only get a little bit at a time so the 600 million isn't money in the bank as of yet. Just think if the network fails? I like the part of the filing where they get 50/50. Not bad.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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-------------------- No matter how thin you slice it it's still baloney... Posts: 402 | From: Miami, Florida | Registered: Jan 2005
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<JavMan>
unregistered
posted
One rumor is that my buddys girlfriend is a stripper... But as for GTE nothing that I am aware of. I am hping for some sort of an announcement for this weekend to boost things a little bit. I know I sound greedy, but there was no reason for it to drop to the low 3's. I am just waiting for it to chill around the 4's for in a few days. We will see.
"An explosion in the Russian Internet- market drew the attention of the sequential nonspecialized investor: company "Naphtha- Moscow", controlled by deputy Suleymanom By kerimovym, decided to put 600 musd into the building of the network of wireless access on the basis of technology WiMax. To supply technology and equipment there will be the American telecommunication company GlobeTel, which plans in 2,5 years to unroll network in 30 cities of Russia. The cost of project astonished the market: according to the estimation of its participants, for 600 musd it is possible to create the network of honeycomb connection. On its output to the Russian market company GlobeTel declared at the very heighth of christmas vacations; however, this solution thoroughly was prepared..."
Info on Suleiman Kerimov
Owner worth 2.6 Billion
Last line in the article:
"The richest deputy, according to Forbes, is Suleiman Kerimov, a member of the LDPR faction in the State Duma, with $2.6 billion."
..."Suleiman Kerimov, the owner of the company Nafta-Moscow was intended to acquire the Italian football club Roma. Such 'shopping' was considered patriotic. However, for some unknown reason Nafta-Moscow paid $60 million to the football club Saturn, the Moscow region."...
Posts: 2430 | From: CA | Registered: Jun 2005
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quote:Originally posted by sharkone: All quiet on the GTE front? Any rumors?
Shark
FWIW,
"My friend who works 50 yards from 9050 Pines Boulevard Suite 110 Pembroke Pines, said that a catering service of very high quality has been bring lots of things and she noticed a case of champagne and there has been lots of people going in and some "hee haw baby" shouts......
I am wondering if it is a conformation of another inking or a bank wire of 150 million or just a birthday celebration or.....????? hummm"
Yahoo! Message Boards: GTE Msg# 70656
Posts: 2430 | From: CA | Registered: Jun 2005
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-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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quote:Originally posted by NaturalResources: I am hearing that Barrons recently published a negative article on GTE in the last few days. Anyone have any info on this?
TIA,
NR
I've heard the same thing on the Yahoo message board but nobody's been able to reference the article. It appears to be a false rumor IMO, but we'll see.
Posts: 340 | From: Pleasanton, CA | Registered: Jan 2006
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quote:Originally posted by BuyTex: art, typical "unicorn" posting: IT industry has seen literally thousands and thousands of these kind of wish-list "want ads"
So you are suggesting the ad was placed for appearances only? Interesting. Thanks for the insight BuyTex.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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quote:Originally posted by rkh2005: I've heard the same thing on the Yahoo message board but nobody's been able to reference the article. It appears to be a false rumor IMO, but we'll see.
Thanks, I haven't been able to confirm it either. I heard it on Yahoo also, so that seems to be the only source. I will keep looking and post a follow up if I find anything.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Looks like this could be another big down day. Down .20 in very early pre-market trading on light volume. Should be some good buy-in opportunities today.
Posts: 230 | From: Virginia | Registered: Mar 2005
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posted
GlobeTel Communications Corp. Divests CGI Assets, Updates Sanswire II Construction, Operations and Financial Position 12:30 p.m. 01/18/2006 Provided by FORT LAUDERDALE, Fla., Jan 18, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE) today announced that it has sold its holdings of Consolidated Global Investments Ltd. (CGI), an Australian company, back to CGI. As part of the transaction GlobeTel will return all its shares and options in CGI and retain a $1.4 million deposit that was held for CGI. GlobeTel gained a 70% stake in CGI through a series of transactions intended to give the company a foothold in the Asian telecom market and to provide a strategic relationship with a company listed on a foreign exchange. Given GlobeTel's movement to the American Stock Exchange, GlobeTel has decided to not proceed with its goals to list a company on the Australian Stock Exchange. Timothy Huff stated, "Management of GlobeTel has worked very hard over the past year to strengthen the operations and the capital structure of the Company. We are now in the strongest financial position that GlobeTel has ever been in. With the recent exercise of over $7 million worth of warrants, GlobeTel's debt free status, and the recent contracts gained by GlobeTel, we are in a position to realize the opportunities before us. While we have a lot of work ahead of us, we are excited by the opportunity and are focused on execution of those opportunities." Huff continued, "All divisions of GlobeTel are moving ahead as planned. Centerline, our carrier division, has experienced significant revenue growth, year over year, and is concentrating on increasing its operating margins. Current carrier based margin has been increasing on a weekly basis as traffic is transitioned onto our internal carrier backbone. The StrateVoIP Division, our SIP phone, is in the final stages of preparation for roll out of its first large scale deployment in Brazil. We expect this business unit to begin producing revenues and margin in the Q1 2006. Magic Money is rolling out several programs here in the US and also with our strategic partner FSS in India. FSS handles financial processing for Visa and MasterCard for 18 of the 20 largest banks in India, with over 120 million cards "on the street" in India, we look for significant market penetration with our remittance and telecom products in India. Magic Money will also add to our top line revenue and margin in the first quarter. As evidenced by the recent Russian announcement, GlobeTel Wireless is inundated with opportunity in virtually every corner of the globe. We continue to work closely with our Russian partners and are confident that site planning and installation will begin as planned and on schedule." In closing, Huff added, "Sanswire Networks will float Sanswire II, the technology Demonstrator in February. Sanswire II has been equipped with the latest technology and our plans are to break the world high altitude record for rigid airships as we put the airship through its paces in 90 days of testing. Flight schedules over Edwards Air Force Base will be provided after Edward's Test Range approves Sanswire II for flight. This is dependent on approvals from the Range on safety procedures, timeslots on the Range and weather conditions suitable for flight tests. In summary, GlobeTel is moving ahead on all fronts and 2006 is the year that we transition from a R&D company to a sales and marketing company. This is our year to show what we can do."
-------------------- "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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posted
GlobeTel Communications Corp. Divests CGI Assets, Updates Sanswire II Construction, Operations and Financial Position
January 18, 2006 12:30:01 (ET)
FORT LAUDERDALE, Fla., Jan 18, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE, Trade) today announced that it has sold its holdings of Consolidated Global Investments Ltd. (CGI), an Australian company, back to CGI. As part of the transaction GlobeTel will return all its shares and options in CGI and retain a $1.4 million deposit that was held for CGI.
GlobeTel gained a 70% stake in CGI through a series of transactions intended to give the company a foothold in the Asian telecom market and to provide a strategic relationship with a company listed on a foreign exchange. Given GlobeTel's movement to the American Stock Exchange, GlobeTel has decided to not proceed with its goals to list a company on the Australian Stock Exchange.
Timothy Huff stated, "Management of GlobeTel has worked very hard over the past year to strengthen the operations and the capital structure of the Company. We are now in the strongest financial position that GlobeTel has ever been in. With the recent exercise of over $7 million worth of warrants, GlobeTel's debt free status, and the recent contracts gained by GlobeTel, we are in a position to realize the opportunities before us. While we have a lot of work ahead of us, we are excited by the opportunity and are focused on execution of those opportunities."
Huff continued, "All divisions of GlobeTel are moving ahead as planned. Centerline, our carrier division, has experienced significant revenue growth, year over year, and is concentrating on increasing its operating margins. Current carrier based margin has been increasing on a weekly basis as traffic is transitioned onto our internal carrier backbone. The StrateVoIP Division, our SIP phone, is in the final stages of preparation for roll out of its first large scale deployment in Brazil. We expect this business unit to begin producing revenues and margin in the Q1 2006. Magic Money is rolling out several programs here in the US and also with our strategic partner FSS in India. FSS handles financial processing for Visa and MasterCard for 18 of the 20 largest banks in India, with over 120 million cards "on the street" in India, we look for significant market penetration with our remittance and telecom products in India. Magic Money will also add to our top line revenue and margin in the first quarter. As evidenced by the recent Russian announcement, GlobeTel Wireless is inundated with opportunity in virtually every corner of the globe. We continue to work closely with our Russian partners and are confident that site planning and installation will begin as planned and on schedule."
In closing, Huff added, "Sanswire Networks will float Sanswire II, the technology Demonstrator in February. Sanswire II has been equipped with the latest technology and our plans are to break the world high altitude record for rigid airships as we put the airship through its paces in 90 days of testing. Flight schedules over Edwards Air Force Base will be provided after Edward's Test Range approves Sanswire II for flight. This is dependent on approvals from the Range on safety procedures, timeslots on the Range and weather conditions suitable for flight tests. In summary, GlobeTel is moving ahead on all fronts and 2006 is the year that we transition from a R&D company to a sales and marketing company. This is our year to show what we can do."
Posts: 36 | Registered: Jan 2006
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