I've been in Mississippi for the last 3 years 5 months. I'm stationed here with the military. I really like it here. I may come back here one day to retire.

Too bad your friends bailed out, at least they made some good money

I got in late, so I might have to hold this one for awhile ; ).

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Originally posted by brian2361:
Any of you in GTEL? I'm in at .07. How high do you think this stock could go?

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Press Release Source: GlobeTel Communications Corp.

GlobeTel to Purchase Sanswire Technologies
Wednesday March 10, 10:39 am ET
National Wireless Broadband Network Moves Closer to Reality

MIAMI--(BUSINESS WIRE)--March 10, 2004--GlobeTel Communications Corp. (OTCBB:GTEL - News) today announced the signing of a Binding Letter of Intent to purchase substantially all of the assets of Sanswire Technologies, Inc. (SNWR.pk). GTEL's acquisition of Sanswire is subject to the completion of its due diligence, the satisfaction of several conditions set forth in the Binding Letter of Intent and the execution of a definitive Purchase Agreement by April 30, 2004. It is anticipated that the transaction will be completed by the end of March, 2004.
Sanswire is developing a National Wireless Broadband Network utilizing high-altitude airships called Stratellites that will be used to provide wireless voice, video, and data services. A Stratellite is similar to a satellite, but is stationed in the stratosphere rather than in orbit. At an altitude of only 13 miles, each Stratellite will have clear line-of-site to an entire major metropolitan area. The Stratellite will allow subscribers to easily communicate in "both directions" using readily available wireless devices. To learn more about Sanswire and the Stratellites, visit the company's website at www.sanswire.com.

Source: GlobeTel Communications Corp.

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The Stratellites will be held stationary in the stratosphere and remotely controlled from tracking stations on the ground. Each Stratellite is designed to stay in one location for up to 12 months, at which time it would be replaced by a duplicate Stratellite, allowing the original airship to be brought back to earth for servicing and communication upgrades. The replacement would be a seamless exchange preventing outages to subscribers.

Each Stratellite will be over two hundred feet in diameter, have a payload capacity of thousands of pounds and will be powered by a series of solar powered hybrid electric motors and other regenerative fuel cell technologies. In addition to Sanswire's National Wireless Broadband Network, proposed telecommunications uses include cellular, 3G/4G mobile, MMDS, paging, fixed wireless telephony, HDTV and others.

Timothy Huff, CEO of GlobeTel stated: "The recent business interests in Mexico, the Philippines, China and Australia coupled with the financial abilities that this investment provides, makes GlobeTel's programs extremely powerful. Money remittance is a multi-billion dollar industry and adding this feature to the pre-paid calling card features that GlobeTel already deploys, makes this a very attractive product for many markets around the world. This investment brings major investment efforts to a close for the Money Magic program, Magic Phone and Text Card programs. With this funding now secured, the company has the right tools to accelerate to the speed to reach our goal of a $60 million dollar run rate by the end of 2004. Once we reach that revenue goal, the efforts will be to move GTEL to a larger trading market like the NASDAQ or the New York Stock exchange."