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Baholders! This one's for you!



December 13, 2006 – Comments (1)

Hey, I didn't say it, the Chair of GlobeTel did. Not in so many words, of course. But read this, and you'll see what I mean.

"Przemyslaw L. Kostro, Chairman, stated, "This breakthrough test will showcase our concept to different audiences, however, our Board of Directors knows it's our shareholders who are most eager to see us deliver this milestone. Our shareholders have been committed to seeing the Stratellite(TM) project through to completion, and we remain committed to our loyal, long term shareholders."

That comes from a recent PR announcing the "float test" of the pie-in-the-sky Sanswire wimax-blimp demonstrator that this company has been pumping for a couple of years now. When this first didn't pan out, they went to that bogus-looking Russian Wi-Max deal that completely fell through. Then it was back to the blimp. In between they've lost a host of board members, re-acquired the Polish Chair who launched this penny promotion a few years back, fired the front-man, Tim Huff, then rehired him as tech officer, and then lost their much-hyped NASA veteran Bob Jones, who left the blimp division recently.

Now they claim they're finally going to tether float a blimp that's got remote controls and gear attached to it. Big deal. This is a scale model of something that giants like Lockheed have failed to build -- so you can see why I believe the odds of a Florida-penny stock getting it done are next to zero.

But some things never change. So long as there's press, there will be bagholders, so GTEL bagholders, this one's for you. No one can say you don't have moxie.


1 Comments – Post Your Own

#1) On December 13, 2006 at 5:04 PM, vittorio301 (76.10) wrote:

Man thats a hoot! I especially love the following at the end of their PR statement


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.


I know see what you are talking about Seth. I wouldn't touch them with a 10-foot pole.


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