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» Allstocks.com's Bulletin Board » Hot Stocks Free for All ! » GTEL to become GTE (Page 61)

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Author Topic: GTEL to become GTE
Danny12345
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come on $1

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Learning The Way Of Life....

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imakmony2005
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WELL im buying now 1000 more.do something huff.
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Bill2Drunk
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They really have some ISSUES here. The 1 report says that the Russian deal was a joke....that the registered company was a warehouse and was formed in 11-05 and only had $369 in capital/money. If that is what GTE thinks.....then I guess I can supply 162 deals. I really home this all blows away.

Here comes your $1.00.....Danny (1.02)

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R1Man

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Bill2Drunk
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There is your $1.00. I think this might get as low as $0.90....or less.

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R1Man

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Bill2Drunk
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$0.96

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R1Man

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Edster
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WOW just bought enough * 1.02 to get my B/E all the way down to 1.54
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Danny12345
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i got it at 1.02 too

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Learning The Way Of Life....

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Dustoff 1
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WOW!!! Haircut? Scalping? Bushwhacking? Fat Lady singing the Russian National Anthem?

But I ain't buying................yet LOL

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Edster
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Wonder how HUFF and the rest of the gurus at GTE are going to handle this price free fall. Better be more than just a token PR saying everything if ok. As a side thought - could we be looking at a possible delisting from the AMEX???????
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Dustoff 1
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Edster, I am just plain biased ever sence the first unvieling of the Blimp! Do you remember how funny that was?

Huff? you can count on a screwey wabbit trick..LOL

De-listing? you betcha, if fraud is involved.

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Edster
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Kinda quieting down here a bit. Still I think there is enough negative mojo on this to drive it to under $1.00 by EOD. May end up being one of the top 5 volume days in the last year.
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imakmony2005
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NOT THAT BAD.LOL
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George
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Glad I was waiting for 1.70 and then the mess started. I lowered my buy and then canceled it. I am still on the side watching. Sub dollar is what I am waiting for now. I first got in this at a nickle I think....

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

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imakmony2005
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same here George but that was way back before the amex and the 15 for one split, went from .05 to like .15 than 15 for 1 split and then amex, ran up to the high 4s and now back down, i think way to far down the bottom should be 1.44 so i see some upside here.imho
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Pagan
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quote:
Originally posted by imakmony2005:
same here George but that was way back before the amex and the 15 for one split, went from .05 to like .15 than 15 for 1 split and then amex, ran up to the high 4s and now back down, i think way to far down the bottom should be 1.44 so i see some upside here.imho

Agreed, I added quite a bit today as well. Look forward to some nice uptrend action. GLTA!!

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

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jps
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Milberg Weiss Announces the Filing of a Class Action Suit against GlobeTel Communications Corporation and Certain of Its Officers and Directors on Behalf of Investors

BOCA RATON, Fla.--(BUSINESS WIRE)--May 10, 2006--The law firm of Milberg Weiss Bershad & Schulman LLP announces that a class action lawsuit was filed on May 9, 2006, on behalf of purchasers of the securities of GlobeTel Communications Corp. ("GlobeTel" or the "Company") (AMEX:GTE) during the period December 22, 2005 through April 11, 2006, inclusive (the "Class Period"), for securities law violations.

If you bought the securities of GlobeTel between December 22, 2005 and April 11, 2006 and sustained damages, you may, no later than June 27, 2006, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Milberg Weiss Bershad & Schulman LLP, or other counsel of your choice, to serve as your counsel in this action.

The action is pending in the United States District Court for the Southern District of Florida against GlobeTel, its Chief Executive Officer Timothy Huff, and its Chief Operating Officer, Lawrence Lynch. A copy of the complaint filed in this action is available from the Court or can be viewed on Milberg Weiss's website at: http://www.milbergweiss.com

The complaint alleges that, GlobeTel a provider an integrated suite of telecommunications services, made false and misleading statements regarding the Company's $600 million deal with Moscow-based LLC Internafta to provide internet services in Russia. Throughout the Class Period, defendants emphasized a joint venture agreement to install wireless networks throughout Russia, valued at approximately $600 million. Based on the news that GlobeTel had signed a lucrative agreement which would generate significant revenues, the stock rose dramatically.

In fact, the Complaint alleges that the deal was a sham. An April 11, 2006 article published by The Motley Fool questioned the credibility of the entire deal. On April 11, 2006, after the truth about the joint venture was exposed, the stock dropped 15%, trading at only $1.78, a far cry from the Company's Class Period high of $3.92.

Milberg Weiss Bershad & Schulman LLP (http://www.milbergweiss.com) is a firm with over 120 lawyers with offices in New York City, Los Angeles, Boca Raton, Delaware, and Washington, D.C. and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and others for nearly 40 years. Please contact the Milberg Weiss website for more information about the firm. If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following attorneys:

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jps
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Schatz & Nobel, P.C. Announces Class Action Lawsuit Against GlobeTel Communications Corp. -- GTE

HARTFORD, Conn., May 10, 2006 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Florida on behalf of all persons who purchased or otherwise acquired the securities of GlobeTel Communications Corp. ("GlobeTel" or the "Company") (AMEX:GTE) between December 22, 2005 through April 11, 2006, inclusive, (the "Class Period").

The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements. Specifically, defendants made false and misleading statements regarding the Company's $600 million deal with Moscow-based LLC Internafta to provide internet services in Russia. Throughout the Class Period, defendants emphasized a joint venture agreement to install wireless networks throughout Russia, valued at approximately $600 million. Based on the news that GlobeTel had signed a lucrative agreement which would generate significant revenues, the stock rose dramatically.

An April 11, 2006 article published by The Motley Fool questioned the credibility of the entire deal. On April 11, 2006, after the truth about the joint venture was exposed, the stock dropped 15%, trading at only $1.78. During the Class Period, GlobeTel traded as high as $3.92 per share.

If you are a member of the class, you may, no later than June 27, 2006, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

While Schatz & Nobel has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106*aol.com, or visit our website: www.snlaw.net.

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Dustoff 1
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Halt to trading coming?
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T e x
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a halt I think would not be bad--a suspension could mean Lockheed wins outright on the sub-space deal, hands down...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Pagan
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quote:
Originally posted by Dustoff101:
Halt to trading coming?

Why would there be a halt? Class action suits are sadly a common occurence in todays markets. But rarely if ever have I seen them result in a trading halt. And the "pile on" effect by ambulance chasers is also common. There is no SEC investigation, so no halt is merited. I think the suits have little merit and I look for a sharp uptrend in near future. Excellent time to buy if you have a penchant for playing volitilty. IMO, there is huge money to be made playing the volility that is likely coming over this month and the next.

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

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Pagan
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quote:
Originally posted by BuyTex:
a halt I think would not be bad--a suspension could mean Lockheed wins outright on the sub-space deal, hands down...

A trading halt does not halt busines operations, only trading of shares, which has absolutely no effect on time to market of technology. I find it extremely unlikely of a trading halt in GTE's future based on these "lawsuits looking for a plaintiff" class action cases.

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

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T e x
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lol, pagan, somehow I knew your post would be linked to mine...

all I'm saying is, don't get freaked over a halt. A suspension? that's serious.

Have no DD to infer likelihood of either, was responding to a preceding post.

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Bill2Drunk
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quote:
Originally posted by Pagan:
quote:
Originally posted by Dustoff101:
Halt to trading coming?

Why would there be a halt? Class action suits are sadly a common occurence in todays markets. But rarely if ever have I seen them result in a trading halt. And the "pile on" effect by ambulance chasers is also common. There is no SEC investigation, so no halt is merited. I think the suits have little merit and I look for a sharp uptrend in near future. Excellent time to buy if you have a penchant for playing volitilty. IMO, there is huge money to be made playing the volility that is likely coming over this month and the next.
AGREE STRONGLY!! I dipped out and didn't spend my $10,000 I have sitting aside for this stock. I wish I did when I was watching it less than $1.00 but WTH......better safe than sorry.

Yeah.......looking for plaintifs lawsuits......first that have to get plaintifs....then they have to figure how much $$$ they lost.....then they have a loss that they can sue for....most people only had spent $2,000 or less.....that isn't even worth it to lawyers.....they want the FAT CATS that lost $10,000++++++++ to represent....that is where the money is......(was). People are SUE happy in this world today.....if you go to the casino and win $10,000....the Gov't wants to TAX you....but if you lose $10,000....you don't get any tax breaks.....seriously.....this is all GAMBLE....just because you LOSE....why should you get your money back???????

Lawsuits usually takes YEARS to resolve. So we shouldn't see any judgements for a LONG TIME. Lawsuits mean nothing right now.....its just another splenter in GTE.

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R1Man

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Dustoff 1
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I disagree with everybody! LOL

Hey! Who says they can't Halt for clarity! Hell Big board stocks do it all the time..

I also remember over a year ago when people challanged my call on the R/S...

I am a buyer at $.735

Some of my best 2 hour gains have been on the " Ole Blimp" nothing changes, this is still the Gang that can't shoot straight..

The " reincarnation of the Keystone Cops"

They still got the training wheels on that Balloon thingy ma jigger? LOL

The best thing about GTE is Liquidity! It will handle large wagers..

[ May 11, 2006, 08:16: Message edited by: Dustoff101 ]

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JHenry
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Is there a trading halt - No trading happening?
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JHenry
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There it goes - just a slight delay.
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Pagan
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Just added additional swing position here. With 1Q numbers due Monday, any improvement in financials should see a sharp spike in SP. GLTA!!

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

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Edster
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HUFF and company are really going to have to pull a rabbit out of the hat to turn this around. It is getting to the point that even great PR won't do much to lift this anywhere near to the levels of just a few weeks ago. Back on 27 April, GTE closed at $1.91 - don't think we will see that again for a long, long time - if ever!!!!!!
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Edster
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quote:
Originally posted by Pagan:
Just added additional swing position here. With 1Q numbers due Monday, any improvement in financials should see a sharp spike in SP. GLTA!!

I hope you are right Pagan but I think that with all the bad press, the 1Q financials would have to be an EXCEPTIONAL improvement over last quarter's .22 ps loss(which I doubt will be the case). I'm not even sure that HUFF will send out the 1Q on Monday. Otherwise I see the 1Q possibly adding to the sell-off IMHO.
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jordanreed
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youre pessimism is understandable...i continue to hold for better days.

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jordan

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Pagan
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Centerline Reaches Profitability, Trending Toward Target $350K Per Month Net Profit
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 11, 2006--GlobeTel Communications Corp. (AMEX:GTE) announced that its Centerline Communications LLC subsidiary has reached profitability as of May 10. Given the second quarter performance and its trending, this places Centerline on a pace to exceed its $350,000 per month net profit by the end of June.

Timothy Huff, Chief Executive Officer of GlobeTel, stated, "Centerline has continued its transition from its low margin off-net traffic to its state of the art VoIP direct route network, which it continues to grow. This traffic has significantly increased margins of approximately 7%. Centerline not only provides bottom line profit to GlobeTel but also provides a low cost telecom component to our other business units. We have stated our short-term goals in the April 10 press release and remain confident we will reach these goals. Centerline's profitability is the first stepping stone in a long line of accomplishments that the company is striving for in the second and third quarters."

Centerline, GlobeTel's International Wholesale Carrier business, buys and sells large blocks of calling minutes with particular origination and termination points. In some instances, it enters into agreements with established international telephone carriers to deliver international calls into their domestic telephone networks for termination to the parties being called. Additionally, it bulk purchases minutes to specific destinations and packages them for resale to individual and business customers. Beginning in July 2004, GlobeTel began to migrate these operations from the parent company to Centerline and its units. By June 2005, all telecommunications equipment had been consolidated into the Los Angeles switch site, and continual consolidations have resulted in improved margins.

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

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Edster
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[QUOTE]Originally posted by Pagan:
[QB] Centerline Reaches Profitability, Trending Toward Target $350K Per Month Net Profit
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 11, 2006--GlobeTel Communications Corp. (AMEX:GTE) announced that its Centerline Communications LLC subsidiary has reached profitability as of May 10. Given the second quarter performance and its trending, this places Centerline on a pace to exceed its $350,000 per month net profit by the end of June.

What seems to be some very positive news has only had a minor effect of SP.

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imakmony2005
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.735 NEVER, LOL
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Dustoff 1
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Thats what it's worth to me...Otherwise I ain't buying..
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imakmony2005
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IM CHIPPING
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