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Well the bright side is that as long as trading is halted - you can't LOOSE anymore money on GTE. If this stock gets delisted I think we will quickly fall into the .50 -.60 share price region with little or no real hope for a quick recovery. We sure have come a long way from that UPBEAT "Huff-A-Mania" shareholders meeting back on 21 June. Is that really the same GTE we see on the AMEX chopping block??????
Posts: 230 | From: Virginia | Registered: Mar 2005
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GlobeTel Communications Notified of Decision to Begin Delisting Process from Amex
FORT LAUDERDALE, Fla. --(Business Wire)-- July 19, 2006 -- GlobeTel Communications Corp. was notified on July 18, 2006 by the American Stock Exchange (Amex) that it has halted trading and intends to de-list the common shares of GlobeTel Communications Corp., trading on the Amex under the symbol "GTE." The decision, which will be appealed by the Company, is based on the Amex determination that GlobeTel is not in compliance with the continued listing standards in accordance with Section 401(e) alleging that "the Company has engaged in a pattern of issuing overly promotional press releases," Section 132(e) alleging that "the Company has not issued to the Exchange, information concerning the Company," and 1003(f)(iii) of the Company Guide, alleging that "the Company or its management has engaged in operations, which, in the opinion of the Exchange, are contrary to the public interest."
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The Company maintains that all of its press releases are factual and complete, based upon the Company's knowledge and beliefs at the time of release, and that the Company has provided all information that was requested in writing by the Amex, with no further response from the Amex.
Therefore, the Company intends to vigorously contest this de-listing and will appeal the de-listing in accordance with the process as it exists at the Amex. The Company believes that the trading halt will be lifted following distribution of this press release.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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What happens when this thing gets de-listed. Does it automatically go back to the OTC or pink sheets?
Posts: 230 | From: Virginia | Registered: Mar 2005
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Looks to be a bumpy ride near term. Will be looking for a bottom to pick up a new swing position to play the potential bounce. 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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If they fail in their appeal to the AMEX, it would go to the OTCBB.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Well Pagan, it was one hell of a ride...Here we go again..You gotta luv it! Geezz, Keystone cops, wild and crazy ruskies, Blimps floating in Hangers, maybe? Geez maybe another reverse split and ride the winds all over again!
Howz about a new symbol or name...
GTE----------> HUFF for symbol puff hard into blimp, company motto..
Company new name? Howz about? well me will let readers come up with something..Mise well have some fun while waiting for the thing to get revamped and cycling again..LOL
Posts: 10729 | From: oregon | Registered: Feb 2005
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Well...there is no need for an RS, they only have 104MM OS. But, I do agree it should be a wild ride for this little money maker. Should be alot of volitilty to provide many more chances for some heavy swing action. GL!
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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There may be "IF" they take the dilution route. to raise capital...Not much left on the table now. But I'm sure Huffpuff will 'splain sumpin..
Posts: 10729 | From: oregon | Registered: Feb 2005
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