GlobeTel Communications Corp. Responds to Article by Motley Fool's Seth Jayson
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 27, 2006--In accordance with the obligations placed on all Amex-listed companies under Rule 401(c) of the Rules of the American Stock Exchange, GlobeTel Communications Corp. (AMEX:GTE) would like to state in the strongest terms that the statements and implications made by Mr. Seth Jayson in his Motley Fool article dated January 23rd, 2006, are entirely without substance and are misleading. The Company rejects his attempts at guilt by association regarding persons and actions that predate any GlobeTel involvement with Advantage Telecom. GlobeTel believes his misleading statements result in damaging implications that have the potential to seriously damage both shareholder value and the ability of GTE management to effectively conduct the Company's business.
About GlobeTel Communications Corp.:
GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services company. GlobeTel operates business units in the following areas: (i) stored value debit cards as a certified financial transactions processor (ii) carrier-grade VoIP long distance sales to major long-distance re-sellers (iii) VoIP technology (iv) wireless digital technology and development and (v) high-altitude airship research, development and deployment. These self-contained business units have been specifically developed to operate independently of each other. Their symbiotic relationships, however, provide value to each of the other business units. This strategy offers GlobeTel both financial diversity and risk mitigation while creating a platform for achieving its unique commercial and social objectives.
Operating on a global basis, GlobeTel has historically focused its business development efforts on markets outside of the United States. Current operations and high level business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.
GlobeTel Communications Corp., Fort Lauderdale
Sibylle Faye Yakan, 954-241-0590