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GlobeTel Initiates Global Strategy for Sanswire Tuesday March 8, 9:58 am ET Establishes Sanswire Europe Through Joint Venture Structure Sanswire Europe to Make Wireless Access Available to All European Citizens
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--March 8, 2005-- GlobeTel Communications Corp. (OTCBB:GTEL - News) today announced a global strategy for its Sanswire Networks Corporation subsidiary. It has signed a Letter of Intent to immediately establish Sanswire Europe S.A., its first regional operating subsidiary. Sanswire Europe will be a joint venture between GlobeTel's wholly owned operating subsidiary, Sanswire Networks, LLC and Strato-Wireless Ltd. (SWL), in which GlobeTel will own 55% and Strato-Wireless will own 45% of the shares of the European Venture. The new operation will be managed jointly by J. Randolph Dumas and John A. Jensen, Jr., both former senior Managing Directors at global investment banking firms. Both principals have decades of business experience throughout Europe and the Middle East. ADVERTISEMENT
Sanswire Europe is being formed to generate government, military and corporate contracts for Sanswire's Stratellite platforms within Europe. Stratellites are specialized airships, that will be placed in the stratosphere to be used for transmitting virtually all types of wireless communications and content. Sanswire Europe will extend the Sanswire franchise into Europe, the Middle East and Africa. Eventually, other regional Sanswire entities will be created to develop opportunities in other regions including Asia and Latin America.
"Our strategy is to create geographical action teams with highly qualified partners whose access to capital sources and direct access to senior government and business leaders, will allow for rapid deployment of our Stratellite technology. Our Partners have the capability to mobilize and seize on the advantage of Sanswire being the first mover to launch and have commercial use of a high altitude platform airship, in our case, the Stratellite," Timothy M. Huff, CEO of GlobeTel stated. "Sanswire Networks, LLC will remain a wholly-owned subsidiary of GlobeTel and GlobeTel will maintain majority ownership of each of the world-wide partnerships we will be forming. These partners will bring significant value to our Company."
Mr. Huff added: "SWL represents an ideal partner for both GlobeTel and Sanswire. SWL's global business experience and relationships, combined with the entrepreneurial style of SWL's principals, creates an exceptional foundation for the launch of Sanswire's wireless capabilities within Europe. We believe that the initial relationship will rapidly expand into other countries with the SWL partnership."
J. Randolph Dumas, Chairman of Sanswire Europe, remarked: "We are excited about the opportunity to develop the Sanswire franchise in Europe. The unprecedented technology inherent in the Stratellite airships represents a unique opportunity to deliver a full array of communications services for the benefit of governments and commercial interests alike."
"The access to wireless communications through Sanswire will enable millions of people to benefit from this technology in areas where cost-effective communications have been limited or impossible, historically," added John Jensen, Vice Chairman of Sanswire Europe. "To this end, we intend to move quickly to establish Sanswire as the preferred platform for delivering wireless communications in the twenty-first century," he concluded.
Sanswire Europe will drive the European strategy by integrating clients' special voice, data and video requirements with the resources of Sanswire's newly established Research and Development Division. This division will provide technological and operational expertise and support to meet each client's particular needs. The first prototype of a fully operational Stratellite is scheduled for launch in early April in California.
Randolph Dumas, a resident of London, England, has lived and worked in Europe for the past 25 years. He was a partner of Salomon Brothers International Limited responsible for the firm's European corporate finance, mortgage securities and real estate investment banking businesses for a number of years. Subsequently, Dumas founded and became the Managing Partner of two prominent private equity firms: Dumas West & Co (a 50:50 partnership with the "Baby Bell" telecommunications company, US West) and Rubikon Partners, a firm focusing on European LBOs. Dumas has had extensive experience working in virtually every business sector and in every country within Europe and in much of the Middle East. He maintains strong relationships in these countries at the highest levels.
John Jensen, also a London resident, has lived and worked in Europe since 1992. He spent 32 years in various management positions at Merrill Lynch, from which he retired recently as Vice Chairman of Global Equity Capital Markets. At Merrill Lynch, he led the management of more than 500 equity offerings including large, high profile European and Asian privatizations, primarily in the telecommunications, technology and natural resource industries. Jensen's experience provides an in-depth knowledge and keen understanding of the dynamics of the relationships between governments and commercial enterprises globally. He is also Chairman of Pelham Sloane Ltd., a designer, manufacturer and marketer of patented, all-in-one computers, based in London, England.
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 Placement 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. The above are more fully discussed in the Company's SEC filings.
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Yeah , i finally wised up and did the free share thing , so everything is working out nice now , sold for a profit and jumped back in with the proceeds .
Posts: 734 | From: Nassau County | Registered: Jan 2005
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Already in the black from that earlier out and in . Gtel had a nice as hell swing today .
Posts: 734 | From: Nassau County | Registered: Jan 2005
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Gtel is officially on fire today , the ask is being eaten through something fierce .
Posts: 734 | From: Nassau County | Registered: Jan 2005
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imakmony2005
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BACK IN AND READY TO SELL, SORRY CANT SAY MORE, BUT YOU NO WHO YOU ARE AND IVE BEEN RIGHT,JUST ADMIT IT.
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Soon , young Jedi , soon . If they don't push the test launch back again . It's been holding steady at around .27 ever since that little shakeout about a week ago , i'm not too concerned with Gtel as an investment , just want a couple of more shakes so i can get some a bit cheaper again .
Posts: 734 | From: Nassau County | Registered: Jan 2005
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GlobeTel Announces 2004 Results of Operations
March 31, 2005 10:04:01 (ET)
PEMBROKE PINES, Fla., Mar 31, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTEL, Trade), with its filing of its SEC Form 10-KSB, today announced that the Company had revenues of $28,996,213 in fiscal year 2004 resulting in a net loss of $13,166,869. The net loss incurred represented charges to earnings under Generally Accepted Accounting Principles of $4,491,581 in option expenses to certain employees, officers and key management. Approximately $1,000,000 of the loss was attributed to professional services, making the net loss attributable to operations approximately $7,675,288 on revenues of $28,996,213. During the previous year 2003, the company reported a net loss of $6,202,426 on revenues of $11,351,939.
The Company attributed its net loss to both capital and normal expenditures incurred in the process of growing the Company including additional equipment, software and payroll expenses to further develop its Stored Value Program and funding for its wholly owned subsidiaries, Sanswire Networks, LLC and Centerline Communications, LLC.
The Company stated that the revenues and resulting losses were not unexpected and that the Company was able to obtain its goal of growing its revenue base in 2004.
Timothy M. Huff, CEO of GTEL, stated, "We cannot be more excited about the Company and its future than we are at this very moment. We wanted to grow our revenue base in 2004 and we did just that. We needed to invest a substantial amount of money in 2004 to develop our products and as a result, we are now ready for significant profitable revenues. The difficult part was that now we have to take this large loss as a result of these expenses."
Mr. Huff added, "We have invested millions of dollars in our Stored Value Program and that is currently being launched. Sanswire One, our prototype high altitude airship, is being completed and we have hired several respected NASA engineers who are working diligently to complete the project. We have attracted institutional investors to our Company and we are in the process of applying to move to the American Stock Exchange. So we are very bullish on our future and we expect many exciting opportunities and advancements in the years to come for our shareholders."
Additional information concerning other areas and topics of GTEL can be found on our web site at http://www.globetel.net.Posts: 110 | From: Louisiana | Registered: Mar 2005
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This could be one of the few penny stocks that starts from practically nothing and makes it out of the doldrums . Tempered expectations are always encouraged , because there is never a guarantee , although this one is looking more and more like one of the best otc stories in quite some time . We'll be hearing about it in the news eventually , and when the mainstream finally catches on , we'll have been there in the infancy stage , or close to it .
I have to thank someone from another board for turning me on to Gtel ( don't want to mention his name here , but he knows who he is ) , it was my second penny purchase i ever made , and it has proven to be a stalwart , the foundation to my portfolio .
The excitement level for this stock is coming close to fever pitch , although i'm still cautiously optimistic .
I would say , the odds are still against them becoming a major player , since it seems there are many obstacles to creating a fully functioning high altitude airship ( see the other Gtel thread in the above .10 section for details ) , but there is a chance Gtel can revolutionize the communications industry , as some people have pointed out , and that's an exciting thought . Not only because of the stockholder's potential profit ( or already realized profit if you've been flipping it ) , but because in some small way , you as an investor were part of the ride , figuratively speaking .
Posts: 734 | From: Nassau County | Registered: Jan 2005
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. Gtel had a nice as hell swing today .
