quote:Originally posted by sharkone: Boy, that was a small run...back to where it started..
I'm telling you guys, little or no movement until a PR regarding the Russian deal... then BAMMMMMM!
I just hope when it does go, the movement is in an upward direction.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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Given the discouraging price actions for GTE over the past week or so I suspect that there may be serious trouble with the $300 million dollar Russian deal. Yesterday's insider sell of 200,000 shares does not give me a warm and fuzzy on this one.
Posts: 230 | From: Virginia | Registered: Mar 2005
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quote:Originally posted by Edster: Given the discouraging price actions for GTE over the past week or so I suspect that there may be serious trouble with the $300 million dollar Russian deal. Yesterday's insider sell of 200,000 shares does not give me a warm and fuzzy on this one.
There were no insider sales yesterday, nor were there any in all of February for that matter. No Form 4's were filed which is an SEC requirement for an insider to buy or sell shares.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Super messages - (dark blue for buy, dark red for sell) offer an explicit medium for broker/dealers to advertise their interest in trading a stock. In a Super message, broker/dealers specify the exact price and size, broker/dealers specify the exact price and size of stock they want to trade, as well as whether they are interested in buying or selling the security. For example, a super message may indicate that a broker is looking to add 100,000 shares of XYZ at $30." Because super messages specify a price and size, they offer a unique opportunity to gauge the interest of institutional investors. Due to the specific nature of these messages and the fast pace of changes in the marketplace, Supers have a short shelf-life and offer only a small glimpse of the total market for a security.
Interest messages - (light blue for buy, light red for sell) reflect broker/dealers' interest in buying or selling stocks. Interest messages are not binding, but merely offer an indication of broker/dealers actively seeking to trade a stock. Generally, the messages serve as means for the broker/dealers to say to institutional investors, "Give me a call, and we'll talk about a trade."
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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Super messages - (dark blue for buy, dark red for sell) offer an explicit medium for broker/dealers to advertise their interest in trading a stock. In a Super message, broker/dealers specify the exact price and size, broker/dealers specify the exact price and size of stock they want to trade, as well as whether they are interested in buying or selling the security. For example, a super message may indicate that a broker is looking to add 100,000 shares of XYZ at $30." Because super messages specify a price and size, they offer a unique opportunity to gauge the interest of institutional investors. Due to the specific nature of these messages and the fast pace of changes in the marketplace, Supers have a short shelf-life and offer only a small glimpse of the total market for a security.
Interest messages - (light blue for buy, light red for sell) reflect broker/dealers' interest in buying or selling stocks. Interest messages are not binding, but merely offer an indication of broker/dealers actively seeking to trade a stock. Generally, the messages serve as means for the broker/dealers to say to institutional investors, "Give me a call, and we'll talk about a trade."
Posts: 230 | From: Virginia | Registered: Mar 2005
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posted
I wonder if there will be an EOD run due to any shorts that might chicken out at the last minute...
-------------------- 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 ladybird: Things look a little crazy for GTE.
splain,..please
Probably talking about those 30K trades that went through in the 3.10-3.20 range at open.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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posted
Well, right at 9:30 someone bought 10,000 shares for $3.15. Then it went up to 3.20. Then it seems a whole bunch of shorts seem to be trying to bring it down - selling at $2.89. Right now it looks like a standoff with bid 2.90 and ask 3.09
Posts: 120 | From: New York | Registered: Feb 2005
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posted
stops were taken out and I guess someone took advantage of it... we need that news!!
Posts: 304 | From: Belgium | Registered: Jan 2006
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posted
When should we be hearing about the $300M Russian deal? Too quiet on that topic. In this case - no news is not good news.
Posts: 230 | From: Virginia | Registered: Mar 2005
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posted
i think the 30 days should be up friday or monday..not sure. But I'm loaded (or will be shortly) .. and ready to go!! Remember it was 30 days from the end of last month...that would make it the 3rd or 4th of march....
-------------------- jordan Posts: 5812 | From: st paul,mn | Registered: Feb 2004
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GlobeTel Communications Corp. Provides Update on Financing of Russian Wireless Joint Venture GlobeTel Communications Corp. (AMEX:GTE) announced that it has extended by 30 days the payment deadline for LLC Internafta to present its first payment so that lawyers and bankers for the parties may continue to work on structuring the payment to be in compliance with banking and currency transfer regulations in the United States and Europe.
GlobeTel CEO Timothy Huff stated: "This is a highly complex international transaction on which all sides continue to work together in good faith. There are numerous legal and regulatory issues that must be resolved and those steps require time and specialized expertise. GlobeTel is represented in Moscow by the law firm of Cleary Gottlieb Steen & Hamilton LLP."
Posts: 76 | From: CHARLOTTE, NC | Registered: Jan 2006
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FORT LAUDERDALE, Fla., Mar 03, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it was notified today by LLC Internafta that the close of the transaction providing the funding for the installation of wireless networks in 30 cities throughout the Russian Federation, scheduled for March 2, 2006, has been delayed by the bank until next week due to internal bank scheduling. The transaction is being syndicated by several tier one European Banks.
Timothy Huff, CEO of GlobeTel stated, "Internafta has reassured GlobeTel that the transaction is in its final stages. This has been a suspenseful time for our shareholders, and for us, as we wait for the network to begin its deployment. Internafta and GlobeTel do not control the timing and events in this banking transaction."
LLC Internafta's Director General Maxim Chernizov added, "We are confident that all the issues will be resolved in the upcoming few days not weeks. We have been working together with the staff at GlobeTel Wireless for many months on this transaction and I feel that we are at the last few steps in a very complex banking process. We are committed to this transaction and still remain very excited about providing a state-of-the-art wireless network to the people of the Russian Federation."
Timothy Huff went on to say, "This transaction will not be allowed to be left hanging open with continuing delays. I believe it is in the best interest of GlobeTel to continue to work with Internafta as long as I believe that the transaction is moving forward and that both parties are working in good faith to finalize it."
The network will be operated by NuTel Wireless ("NuTel"), a Russian company 100% owned by a European Joint Venture company established by GlobeTel and Internafta. Each party will own 50% of the shares of the European JV company that owns NuTel.
Posts: 23 | From: ocala,fl. | Registered: Apr 2005
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FORT LAUDERDALE, Fla., Mar 03, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it was notified today by LLC Internafta that the close of the transaction providing the funding for the installation of wireless networks in 30 cities throughout the Russian Federation, scheduled for March 2, 2006, has been delayed by the bank until next week due to internal bank scheduling. The transaction is being syndicated by several tier one European Banks.
Timothy Huff, CEO of GlobeTel stated, "Internafta has reassured GlobeTel that the transaction is in its final stages. This has been a suspenseful time for our shareholders, and for us, as we wait for the network to begin its deployment. Internafta and GlobeTel do not control the timing and events in this banking transaction."
LLC Internafta's Director General Maxim Chernizov added, "We are confident that all the issues will be resolved in the upcoming few days not weeks. We have been working together with the staff at GlobeTel Wireless for many months on this transaction and I feel that we are at the last few steps in a very complex banking process. We are committed to this transaction and still remain very excited about providing a state-of-the-art wireless network to the people of the Russian Federation."
Timothy Huff went on to say, "This transaction will not be allowed to be left hanging open with continuing delays. I believe it is in the best interest of GlobeTel to continue to work with Internafta as long as I believe that the transaction is moving forward and that both parties are working in good faith to finalize it."
The network will be operated by NuTel Wireless ("NuTel"), a Russian company 100% owned by a European Joint Venture company established by GlobeTel and Internafta. Each party will own 50% of the shares of the European JV company that owns NuTel.
posted
thats our beloved gte... i like the way they keep us informed and up to date... not a good pr but not a bad one either.. sounds like tim huff wont put up with any more delays after this...which is no fault of anyones..its a banking thing. so we're looking at next week for this deal either way.. IF the deal doesnt happen, gte is out nothing...they will continue to grow and search out other markets.. we still have the strat.. all this pr did was to confirm that things are moving forward,,,which i like..
jmho
-------------------- jordan Posts: 5812 | From: st paul,mn | Registered: Feb 2004
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Looks like The Motley Fool might be changing sentiment....
At Inside Value, our analysis of a company begins with an understanding of its core business and competitive position. Like the companies Buffett buys, all but three of Inside Value's recommendations have dominant industry positions, making it extremely difficult for other companies to compete. While companies such as GlobeTel Communications (AMEX: GTE) that have huge growth potential in evolving markets are exciting, they come with significant execution risk. Most of the companies Inside Value looks for, on the other hand, are relentless growers -- companies that are almost certain to deliver years of solid growth.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Waiting Again On GlobeTel; May Be Worth It By Maxwell Murphy A Dow Jones Newswires Column March 03, 2006 14:12 ET NEW YORK (Dow Jones)--Itīs not exactly everything GlobeTel Communications Corp. (GTE) shareholders had hoped for, and itīll be a bit late in coming, but its $600 million Russian wireless venture may finally get off the ground next week.
Well, thatīs assuming there isnīt a third delay in locking up the dealīs financing.
GlobeTelīs rapid rise, from an overlooked over-the-counter stock to an American Stock Exchange company valued at more than $300 million, has attracted a fair share of skeptics and short-sellers who believe the company is full of hype, not hope. It has also drawn a devoted following of thousands of shareholders - many of whom fancy themselves GlobeTel paladins, defending it whenever the vociferous critics inhabiting numerous Internet chat rooms impugn the company or its management.
"In The Money" has followed the GlobeTel story since January, sifting through the companyīs history, management, directors, partners and promises in order to handicap whether its entirely plausible claims are fully factual or merely fantasy. With GlobeTel, like most things in life, until the money is in the bank, no deal is for real.
Perhaps weīre about to get that reality check. GlobeTel said Friday a consortium of banks will start doling out the money next week according to an as-yet-unspecified schedule. Perhaps if this delay didnīt follow a one-month push-back announced at the end of January - the day the GlobeTel venture originally was scheduled to get its first payment - investors would have no reason for the butterflies that almost certainly will occupy their collective stomach until the cash is in hand.
Confident CEO
When you speak with GlobeTel Chief Executive Tim Huff or any of his employees, you certainly donīt get the impression theyīre worried about the security of this deal. Huff is so sure of himself and all five of his companyīs businesses that he says GlobeTel will succeed with or without the Russian deal - not that he doubts for a second the Russian deal will go through.
Further, he has told Dow Jones Newswires, all of its businesses - like selling bundled international phone minutes, WiMax wireless networks and its development-stage Stratellite dirigibles for communications and military applications - will begin to show growth this quarter. He also says if GlobeTel isnīt called a success by the end of this year, heīll no longer be with the company.
GlobeTelīs Russian partner, a newly minted collaboration of several mostly anonymous Russian investors called LLC Internafta, says with conviction that itīs confident in both its ability to deliver the $600 million to GlobeTel and GlobeTelīs ability to turn that money into a WiMax network for communications and Internet connectivity in Russiaīs 30 largest cities over the next nine quarters.
In an interview with Dow Jones Newswires last month, Internaftaīs lone named partner, Maxim Chernizov, who says he made his fortune in "rare earth metals," said Internafta would double its initial payment to GlobeTel to $300 million from $150 million, so sure it is of the success of the companyīs joint venture. The remaining $300 million will be released to GlobeTel in stages according to network-rollout milestones, the companies have said.
To illustrate how large a deal this is for GlobeTel, its only current business, selling minutes to phone carriers, looks to do no more than $200 million a year in revenue and as of late last year remained unprofitable.
Huff didnīt rule out that further delays could jeopardize the deal, saying in Fridayīs press release that things wonīt "be allowed to be left hanging open with continuing delays," but itīs in GlobeTelīs best interest to continue working with Internafta so long as Huff believes the deal is "moving forward and that both parties are working in good faith to finalize it."
"Internafta has reassured GTE that the transaction is in its final stages," Huff added. "This has been a suspenseful time for our shareholders, and for us, as we wait for the network to begin its deployment. Internafta and GlobeTel do not control the timing and events in this banking transaction."
Investors With Credibility
Whether the promises measure up to what GlobeTel actually delivers remains to be seen, but some of the people it calls partners, employees and board members come with enough credibility to merit GlobeTel at least being given the benefit of the doubt - or enough rope to hang itself, for you cynics out there.
Though it probably ruffled a few feathers when he said last month heīd relinquish his recently appointed chairmanship in two weeks to become a regular independent director, former U.K. ambassador to the U.S., Sir Christopher Meyer, is just one of the names who have hitched their reputations to GlobeTelīs star. Architecture titan Lea A. Daly III, business whiz and former Central Intelligence Agency employee J. Randolph Dumas and a couple of other colleagues of Henry Kissinger join former astronaut Rick Searfoss and a handful of former employees of the National Aeronautics and Space Administration in support of the tiny Florida company.
According to John Leinwand, GlobeTelīs general counsel, the financing slated for next week will be a $300 million letter of credit, which the release said will be syndicated by several "tier one European banks." Leinwand said the financing took has taken this long because the banks had to get to know Huff and GlobeTel before releasing to the relatively unknown company funds as big as its market capitalization.
A letter of credit from the banks will be used instead of a direct payment to GlobeTel from Internafta for several reasons, Leinwand said. The banks want to assure that no one firm is taking on too great a financial risk and to ensure the funds will legally and appropriately be transferred from Internaftaīs accounts to GlobeTel at a measured pace the banks can control.
Leinwand said he expects the banksī names will be revealed after the financing commences, and a press release detailing the initial amounts and terms should follow announcement of the completion of the first stage next week.
He said heīs not sure about the status of a press conference GlobeTel had originally hoped to hold in Russia in February (assuming it had received the money in January), but he said the company still aims to begin rolling out the WiMax network in Moscow and St. Petersburg early next month.
GlobeTel stock was changing hands at $3.17 in recent Friday trading, up 32 cents, over 11%, on heavy volume. The stock nearly hit $4 after the Russian deal was announced at the end of last year and breached $5.50 last April, so thereīs a decent chance those levels, at a minimum, would again be attainable if the Russian contract is a success.
On the other hand, of course, there can only be so many delays and unmet expectations before shareholders are forced to throw up their hands in disgust and head for a less risky investment.
(Maxwell Murphy is one of four "In the Money" columnists who take a sophisticated look at the value of companies, and their securities, and explore unique trading strategies.)
-By Maxwell Murphy, Dow Jones Newswires; 201-938-5173; maxwell.murphy*dowjones.com
(END) Dow Jones Newswires
March 03, 2006 14:12 ET (19:12 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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posted
Up after hours as well. Good sign for a gap up on Monday. 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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quote:Originally posted by Pagan: Up after hours as well. Good sign for a gap up on Monday. GLTA!!
Hope for a big gap-up on Monday followed by a rising week specially if some of that Russian $$$$ starts coming n.
Posts: 230 | From: Virginia | Registered: Mar 2005
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.. and ready to go!! Remember it was 30 days from the end of last month...that would make it the 3rd or 4th of march....
