Web TV costs over $500, GBUS's Web Ranger is $299. The entire market cap of GBUS is currently at $516,000, or just about the retail price
of 1000 Web TV's!.
The following Business Wire news release from 12/18/96 shows the potential of GBUS, Globus Group Inc, with only 1.2 mil shares outstanding and a bid/ask of .06/.43 as of 1/2/97.
On January 12 of last year the bid mysteriously exploded
from .25 to $5 and then ran up to $9 before a 2 day collapse back to .25 in October(on less than 50,000 shares volume). According to the CEO Mr. Pontones, "tax loss selling" was the only reason he could think of.
Only scattered selling since then and a 67,000 volume day on Dec 31
seems to support the theory. It might only take 50,000 shares in buying to make this one a 10-bagger overnight!
With no financials and revenues to speak of, this is definitely
a gamblers stock- either a 10-bagger or a 1/10 bagger. Good luck.
To make it a bigger enigma, the "Web Ranger" news below was cut off
most news wire reports by mistake. Mr. Pontones told me there are
several more big news releases expected soon.
New York-BW
Globus Group Inc(NASDAQ OTC:GBUS) completes the asset purchase acquistion of substantially all of the assets of Internet Adventures Inc. of Winter Garden, FL for $3.55 million in cash, notes and convertible equity.
The newly formed subsidiary GGI Systems Inc, focuses its efforts on proprietary Internet related products and services such as Corporate Web site creation and management of those sites. Also, the company will pursue the creation of a fully operational Internet Service Provider(ISP).
PRODUCT RELEASE "Web Ranger(tm)"
The newest product rolled out by the company and displayed at the COMDEX HIPANO/AMERICA show in Miami, Dec 4-6, is "Web Ranger(tm)".
A television set top device which allows the user to access the Internet though existing standard telephone lines and view the images on a standard television. This product is being made available with a remote control at a suggested retail price of $299. An optional wireless keyboard is also available. The "Web Ranger" device is unique and set apart from most of the similar products in that it has available serial and parallel ports for a printer and other proprietary devices, which will be added to the "Web Ranger"
product line in the following months.
Globus Group Inc., New York. Manuel Pontones, President 212-977-4060.
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