According to the Pre-Filing5 Billion is bieng added to O/S. Rest stays as A/S (The remaining 15 Billion) for capitalization purposes. I have not read the small prints of use yet...
This will bring up the O/S to approx 5 billion.
So a R/S is imminent before it hit the dollar range, but should see a .20 in the near future again.
I guess thats when I will get out or try to ride on free shares. If the R/S comes in it will be atleast in the 100 range.
Until this Mark guy already has something brilliant with respect to a buyback plan. For some reason he cancelled the latest 150-1 R/S
On the other hand the company has a promising future...latest events -
Dec 23 - Contract with Libya - Approval from the U.S. Department of State will be required before service can be initiated from Libya
Jan 5 - Contract with Iraq
Jan 7 - Contract with Cuba - Approval of the U.S. Department of State will be required before full-fledged service can be initiated in Cuba.
Jan 13 - GlobalNet Announces Successful Testing of Global Mobile Satellite Service - GlobalNet Corporation (OTCBB:GLBT - News) has announced today the successful testing of it's Pre-Paid Mobile Satellite System which serves Turkey, and areas to the south and east, including the eastern Mediterranean, Egypt, Lebanon and Iraq.
Jan 21 - Openning of support offices from India.
Well, the company has accomplished a lot in 1 month.
Again, its a gamble, but the issuance of the shares was necessary for funding. How it will affect the dilution of the stock is another story.
I am holding at least till 0.20 or earning report, which ever is first.
GLTA