posted
Very quiet here in GTE land since last Thursday's AMEX de-listing decision review. The longer it takes the more chance that GTE will be de-listed. Also, wonder why we haven't heard a single word on the status of the Sanswire II flight test. I think in these cases that NO NEWS IS BAD NEWS. imho
Posts: 49 | From: Springfield, Va. | Registered: Nov 2005
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posted
Not suprised with the de-listing. How low do you think this will drop when the market opens on Tuesday. If we stay above .20 it would be a miracle. I will dump most of GTE holdings but will keep a small quantity for sentimental reasons.
Posts: 49 | From: Springfield, Va. | Registered: Nov 2005
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posted
f--k -it, im in for more sellem boyz.LMAO GlobeTel Announces SEC, Audit Committee Investigations, AMEX Delisting Decision
October 06, 2006 17:41:24 (ET)
FORT LAUDERDALE, Fla., Oct 06, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE, Trade) today announced that it has learned that the Securities and Exchange Commission has issued a formal order of investigation concerning, among other things, certain accounting issues, including the treatment of certain acquisitions and the valuation of certain intangible assets.
Additionally, the Company's Audit Committee has authorized an internal investigation into the same matters. The Company and its management intend to fully cooperate in both investigations. The outcome of the investigations cannot be predicted at this time.
The American Stock Exchange has notified the Company that the Listing Qualifications Panel upheld the Amex Staff's determination to delist the securities of the Company. The shares will trade on the American Stock Exchange through October 10, 2006 and then will begin trading on the Pink Sheets on October 11, 2006. The Company will be taking steps to move to the OTC Bulletin Board as soon as practicable.
The Company will inform its shareholder and institutional base of its new trading symbol once assigned, and will keep its interested constituencies informed of developments associated with its migration to the over the counter market, and other developments.
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.
SOURCE: GlobeTel Communications Corp.
GlobeTel Communications Corp., Fort Lauderdale Robert Bleckman, Director of Investor Relations, 954-775-1427 Copyright Business Wire 2006
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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GTE RESPONSE "In response to the Oct 6, 2006 press release announcing the Amex decision and the SEC investigation, we at GlobeTel are naturally disappointed at the outcome of the Amex hearing. However, we continue to move forward with our business plan and continue to nurture our business units and relationships. Despite what might appear to be a setback we will continue to bring our products to market. We are also a company that through this nightmare has retained the relationships that matter to us most.
Regarding the SEC investigation, we are all looking at the past valuations of assets belonging to two of our business units and the assumptions and due diligence underlying those valuations. The SEC informed us that an investigation does not imply that any federal laws have been violated. If we discover there to be divergent values, it could result in a restatement of certain financial statements over the last two fiscal years. We are fully cooperating with the SEC and look forward to the completion of this process."
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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posted
I'll be buying if GTE dips into the .20's. Should bottom out and bounce. Everybody be on your toes, the swing opps that will be presenting themselves for the forseeable future should be pretty lucrative. 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 IMAKEMONEY: .34 NOT AS BAD AS I THOUGHT TODAY.
Yep - it levelled out pretty nicely. If we make it through tommorrow without loosing anymore ground we may be okay and might start the climb back up. The next obstacle will be Oct 11 when the changeover actually to the OTC takes place.
Posts: 49 | From: Springfield, Va. | Registered: Nov 2005
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