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» Allstocks.com's Bulletin Board » Hot Stocks Free for All ! » GTEL to become GTE (Page 59)

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Author Topic: GTEL to become GTE
Edster
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Well this is depressing as hell - there goes the weekend
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imakmony2005
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ya, monday should be something. closed at 1.55 A/H.
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imakmony2005
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Wrong A/H close was 1.46. MOMMA
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imakmony2005
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MOMMA??
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Thorn
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Between December 30, 2006 to April 11, 2006? Lol. Ok, typo?

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May your trading build your character as well as your portfolio.

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Peaser
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http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5 Ciw%5C2006%5C04%5C28%5C78179879.html%26clientid%3D168%26provider%3DInternet_Wire &symbol=GTE

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Buy Low. Sell High.

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BchOus
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Pre Market Bid 1.50 Ask 1.55 *8:53AM 05/01
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stockvapor
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The lawsuit is based on the Russian deal being 'a sham'. If the payment schedules and amounts were just changed (which is what GTE PR'd), then the lawsuit will be dropped. I don't see this lawsuit going anywhere unless Huff and others just pulled this idea of a Russian deal out of their a$$, in which case they would deserve to lose in court. However I highly doubt that is the situation.
GLTA.

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"Whether you think that you can, or that you can't, you are usually right." - Henry Ford

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jps
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GlobeTel Declares Formal Default by Internafta!
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Dustoff 1
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Well, I have one thing to say......I told you so.

I have not trusted this deal, management, or the blimp for over a year..I have repeatedly warned.

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jps
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Hope everyone's having a great worst day ever! [Wink]
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4Tune4Me
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GlobeTel Communications Corp. has added a news release to its Investor
Relations website.
Title: GlobeTel Declares Formal Default by Internafta

Date: 5/1/2006 9:42:00 AM

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Just the facts, ma'am.

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Dustoff 1
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quote:
Originally posted by Dustoff101:
Well, I have one thing to say......I told you so.

I have not trusted this deal, management, or the blimp for over a year..I have repeatedly warned.

------------------------------------------------

Last time folks...Listen up.

You have NO idea what kind of people you are giving your money to..

If you do know, and don't care? Well you just got what you deserve.!

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Pagan
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quote:
Originally posted by Dustoff101:
Well, I have one thing to say......I told you so.

I have not trusted this deal, management, or the blimp for over a year..I have repeatedly warned.

LOL. Fantastic time to load new swing positions. Never fall in love with a company Dust. Play the market to make money. GLTA!

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It is impossible to make anything foolproof because fools are so ingenious.

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Dustoff 1
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OK, LOL
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maumee river rat
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This thing is gettin hit pretty good isn't it..
Looks to be getting to a good bounce point on the chart..
Might be a good tome for a quick swing..
Overall I have to agree with Dusty on this one..
Be carefull..

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George
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Ah come on dust....they will prove it was not a sham....I am sure they have some signed documents...I think they were being had by the russian.

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If all goes well then great, if not, make it work.

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stockvapor
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Original posted by Dustoff:
You have NO idea what kind of people you are giving your money to..

LOL....Maybe I should give my money to Ford or GM?

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"Whether you think that you can, or that you can't, you are usually right." - Henry Ford

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Dustoff 1
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George, oh tah, I guess I don't want to pizz Ivan off to much...I'm an easy target for one of those missing A-Bombs...

I've got a cold Ocean in front of me and a mountain behind!

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Opethian
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quick newbie question, is what I see on todays chart a bear flag?
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imakmony2005
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Its still going dust and we said what first $ 1.00 or $3.00 i still say $3.00. But thanks for a kick in the AZZ.LOL
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deepockets
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This may be a good or bad trade I don't know, but...there are a few things to remember. The Russians are always a risky group to deal with. The Russian deal was just one of many things GTE is working on. They do have other revenue streams. They are recognized and respected by the international communications community. Lawsuits like this happen all the time. Look on hte internet you will find plenty. Four companies that I have held stock in have been sued because the shareholders were looking for someone to blame for their bad trade. Again, maybe GTE is a dog. If it is, get out, use the money you still have and make a better trade somewhere else. You can't will this stock to the surface. I have not done a good job trading this stock myself, and the only one I can blame is me. Good luck...trade smart!

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BE HUMBLE, DON'T STUMBLE!

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BchOus
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The Berlin Wall came down 17 years ago....unless GTE is dealing with school children, they are dealing with the same "old guard" officials. We changed our thinking about the Russians, they did not change their thinking about us. Without a doubt they wanted something for nothing...
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charger
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Theres a reason why GTE was picked for this deal.... Of course the Russians thought they could get over
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Dustoff 1
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Ivan drinks to much Vodka! Then he trys to cheat at poker..People let him..
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deepockets
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According to Don Harrold, there are a lot of things that combined, gave him info, to issue a strong buy recommendation to GTE last week along with some other stocks. He said if those indicators remain where they were, then he'd stick to his recommendation. He did not seem to make much of the lawsuit. I think he picks a group and looks at the return of the group ("Don't put all your eggs in one basket" approach) So, for what it's worth, there it is.

[ May 01, 2006, 11:16: Message edited by: deepockets ]

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BE HUMBLE, DON'T STUMBLE!

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deepockets
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Take this for what it's worth. It's from the default announcement.
"At this stage, therefore, GlobeTel feels it has pursued every possible avenue to assist Internafta in curing its default. Thus, it elected last week to formally conclude further efforts to salvage the Internafta transaction and to open itself up to new negotiations with other significant parties in Russia, including an important entity that has approached GlobeTel, regarding a wireless network installation in Russia."

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BE HUMBLE, DON'T STUMBLE!

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BchOus
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How do we find Don Harrold? Thanks
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deepockets
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donharrold.net I think. First read this. It has more content than GTE's pr had.

http://quotes.freerealtime.com/dl/frt/N?IM=quotes&symbol=gte&type=News

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BE HUMBLE, DON'T STUMBLE!

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imakmony2005
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CLOSE 1.47.
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Peaser
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Just Say "Nyet"
By Seth Jayson (TMF Bent)
May 1, 2006

Let's not belabor the point, OK? No one should be shocked that GlobeTel (AMEX: GTE) finally announced the end of its much-discussed, supposedly $600 million Wi-Max deal with a group of Russians.

Investors who like a slick story but aren't as big on reading the details ought to learn a lesson as well. Toward that painful but noble goal, let's review, shall we?

Until late 2005, tiny GlobeTel was best known for its audacious claims about Internet blimps (which have yet to fly). At the end of December, GlobeTel said it had made a deal in Russia that would have vaulted it to the top tier of phone, Internet, and networking providers, joining the likes of Nokia (NYSE: NOK), Motorola (NYSE: MOT), Cisco (Nasdaq: CSCO), Avaya (NYSE: AV), Vimpelcom (NYSE: VIP), and Mobile Telesys (NYSE: MBT).

I was pretty skeptical, because, well ... when a company claims to have a single deal that's four times its market cap, that doesn't sound right. I took the time to do some digging, and it didn't take long to discover that big promises with little payoffs are quite common with GlobeTel, along with even stranger stories. Unfortunately, the mainstream biz press saw fit to engage in what typically passes for journalism: Parrot the press releases, make a few calls, quote a few talking heads.

Read all those filings? Run biographical searches of board and management on Yahoo! and the SEC website? Bah! All is well, right? Why be a Wilma Worrywart?

Because the writing was on the wall. And investor money was on the line, that's why.

Things started to fall apart months back, with delays. Then a final press release put the issue to rest, for a while. Then came the annual filing that shows just what lousy shape GlobeTel's finances are in, on the heels of a vague threat from GlobeTel's lawyers, which loosely translated to "Hey Fool, stop asking us questions." Meanwhile, it looked to me like far too many insiders were heading for the lifeboats, with a lot of director turnover, and share-sale statements that looked mighty odd for insiders in a company supposedly on the verge of profiting from so many great breakthrough deals.

Today, the final shoe dropped, with GlobeTel releasing a statement declaring a "formal default" by the Russians. It's worth a careful read, because it shows just how thin GlobeTel's previous claims look in comparison to this later version of the story. Take this gem: "Internafta subsequently delivered to GlobeTel terms of a US $300 million Letter-of-Credit on Banco do Brazil letterhead. It was thereafter determined by GlobeTel that the terms were not acceptable to any of GlobeTel's bankers."

It was thereafter determined that the terms were not acceptable? Why not? Are we talking about funny money here? Fake credit? Insufficient funds? What?

Or, more to the point, why release all the sunny PR beforehand if the financing -- as well as the detailed business plan, according to this latest release -- was still up in the air? I'm guessing that's just another one of those questions GlobeTel won't want to answer, but I'm hoping a few shareholders will ask it. (And since GlobeTel won't talk to me, feel free to send me the answer. My email's at the bottom of this article.)

The rest of the release looks like another excuse-o-rama to me, with the typical verbiage aimed at explaining how this certainly isn't GlobeTel's fault -- a bone tossed to the faithful. GlobeTel says it will "open itself up to new negotiations with other significant parties in Russia, including an important entity that has approached GlobeTel, regarding a wireless network installation in Russia."

I don't buy the last bit, but I do think it's possible that GlobeTel was outmaneuvered by the still-mostly-nameless Russian federation. But I won't be crying too many tears for GlobeTel managers and their $12 million worth of compensation last year -- on gross earnings of only $413,729.

The real victims in this ordeal are those unfortunate investors who loaded the boat on GlobeTel and believed in all that copious press back in the beginning of the year. The stock has tanked more than 60% since early January. Anyone who's tempted to get back into this game should take a hard look at the record, and take this advice, which was sent to me by a lawyer on behalf of the good folks at GlobeTel themselves: GOVERN YOURSELF ACCORDINGLY.

Seth Jayson knows it takes time, but he really does think investors ought to pay attention to minor details like SEC filings. At the time of publication, he had no positions in any company mentioned here. View his stock holdings and Fool profile here. Fool rules are here.

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Buy Low. Sell High.

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JHenry
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It doesn't look like his article is having any effect at this point - still going up in after hours.
I've been out of GTE since it was close to $4 the beginning of January and I sold everything - could not pass up todays prices and picked up 4000 shares at $1.42.

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JHenry
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Oops I spoke too soon - going back down.
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imakmony2005
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ok thats it got my last 1000 shares lets go back up.now!
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Edster
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Rough times for GTE and I don't think it is over yet. Huff will have to pull a rabbit out of his hat to meet his performance objectives by end of June.
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