posted
Green Mountain Capital to Acquire Telecommunications PLC, A Leading Provider of Telecommunications Services Based in the UK Business Wire - January 09, 2006 12:27
Stock to Reverse and Company to Receive Name Change to Reflect Its New Business Mission. Expected to Commence Trading with New Symbol This Week
MIAMI, Jan 09, 2006 (BUSINESS WIRE) -- Green Mountain Capital Inc. (OTC Bulletin Board: GMCI), has authorized its common shares to be reverse split, effective January 11, 2006, on the basis of 1000 old shares for 1 new share. This authorization was approved by the stockholders in March 2005. The common shares outstanding after the effective date of the reverse split will be 899,089.
In addition, the Company has agreed to acquire London based Internet Telecommunications PLC, a private company, for 23,500,000 common shares. As part of the acquisition, the Company will have raised $3,000,000. The total shares outstanding after completion of the acquisition will be 45,899,089 common shares. The outstanding preferred shares will be retired as part of the acquisition and recapitalization. The final closing is estimated to be on January 11, 2005.
Internet Telecommunications, PLC (ITPLC) is a provider of low cost line rental and airtime services including voice and data as well as offering value-added services such as SMS, voice-over-internet Protocol (VolP) and mobile telephony. ITPLC estimates in excess of $19,000,000 in revenues in 2005 (its first full year in operation) and has over 10,000 customers, including residential as well as corporate clients some with 30 channel ISDN lines. ITPLC estimates that 2006 revenues will be approximately $80,000,000 with continuing profits, exclusive of US operations to be established in 2006.
Green Mountain Capital, Inc. trades on the OTC Bulletin Board under the symbol GMCI (which will change prior to the effective date of the reverse split). For further information refer to the 8-k and attached power point which was filed with the Securities and Exchange Commission this week.
Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 (Reform Act). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the Reform Act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainties, uncertainties relating to economic issues and competition. Reference is made to all the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.
SOURCE: Green Mountain Capital Inc.
Green Mountain Capital Inc & Internet Telecommunications Plc Dr. Fredrik Verkroost, +44-207-7216-9000 Fax: +44-207-7216-9001 fv*itplc.com www.itwlr.com www.itplc.com or Investor Relations: Strategic Growth International Inc. Richard E. Cooper, +1-212-838-1444 Fax: +1-212-838-1511 RCooper*sgi-ir.com
Copyright Business Wire 2006
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Posted by: ballyhooo In reply to: ballyhooo who wrote msg# 305 Date:1/9/2006 12:54:57 PM Post #of 306
That will give them a $9.2M market cap based on 46M shares O/S with a .20 share price, post split! ITPLC estimates in excess of $19,000,000 in revenues in 2005 (its first full year in operation) and has over 10,000 customers, including residential as well as corporate clients some with 30 channel ISDN lines. ITPLC estimates that 2006 revenues will be approximately $80,000,000 with continuing profits, exclusive of US operations to be established in 2006.
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!!
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posted
my buy price of 5 is what i am basing it on,,,,, a buy at .0005 and a 1/1000 RS means that the new price has to get to .50 per share to break even,,,, now i dont think this looks to good for me, those that got in at 1 or 2 maybe,,,, me and tons of others are screwed.
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Well, I believe it's kind of like waiting in line and waiting for your turn. First come first serve and there's probably tons and tons of people in line.
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
Well, keep in mind that there IS an aquisition involved. This could actually turn out to be a good thing later... but for me, I'm not dealing with this. I'll come back and look around after the r/s.
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posted
I'm totally out now......MM's ate up my shares at 3, they must know something?Was able to make 50% profit after all Can't look at this anymore.....will probably run EOD. since I sold ...only 3 mm's left at 4 now
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!!
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posted
Darn. Wish I held till today. Oh well... can't see the future and at the time the future didn't look so good to me regarding GMCI. I hope you guys do great on this!
-------------------- Life is like a roll of toilet paper. The closer it gets to the end, the faster it goes.
quote:Originally posted by one2watchny: I think I'm going to hold on a little longer.....see what happens.....profitable co., may go up from 10 or 20 cents after split
You win some......sometimes win some more ........played it safe. at .90 now would be at .0009 now sold at .0003....looks to still have potential to go higher? Symbol GMOC now This is one of those rare times a 1000 to 1 R/S was good.
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!!
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quote:Originally posted by one2watchny: I'm totally out now......MM's ate up my shares at 3, they must know something?Was able to make 50% profit after all Can't look at this anymore.....will probably run EOD. since I sold ...only 3 mm's left at 4 now
MM's KNEW!!!
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...only 3 mm's left at 4 now
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I bought at 0.002
