GTMI-BETTER LOOK AT THE NEWS ON THE PALM MESSAGING SERVICE
AGAIN HUH...THEY THINK THEY HAVE ENOUGH NEWS COMING TO
REACH THE NASDAQ ON THEIR OWN
(COMTEX) B: Global Telemedia International Board of Directors has Off
B: Global Telemedia International Board of Directors has Officially Cancelled
the Proposed Reverse Split
NEWPORT BEACH, Calif., Mar 3, 2000 (BUSINESS WIRE) -- Global TeleMedia
International, Inc. (OTC: BB: GTMI) announced today that its Board of
Directors in voting to cancel the reverse split cited the potential
growth figures from its BentleyTel.com subsidiary, which should show
significant income in the second quarter 2000, and continue strongly in
the second half of 2000.
The Board has decided that the expansion of the Company's network and
operating divisions, together with the current economic boom in the
Asia-Pacific region, should result in a substantial increase in income.
The Board believes that with such strong potential income from its
products, the Company's shares will increase in value sufficiently to
qualify for a major exchange listing planned for this year.
The pro-forma income statements presented at the recent Board meeting
show that the BentleyTel.com's proprietary SmartCard, with the first
500,000 members, should realize gross income of $107,000,000 million
with a net profit of $73,500,000 by the end of 2002.
(COMTEX) B: Global Telemedia International Board of Directors has Off
B: Global Telemedia International Board of Directors has Officially Cancelled
the Proposed Reverse Split
NEWPORT BEACH, Calif., Mar 3, 2000 (BUSINESS WIRE) -- Global TeleMedia
International, Inc. (OTC: BB: GTMI) announced today that its Board of
Directors in voting to cancel the reverse split cited the potential
growth figures from its BentleyTel.com subsidiary, which should show
significant income in the second quarter 2000, and continue strongly in
the second half of 2000.
The Board has decided that the expansion of the Company's network and
operating divisions, together with the current economic boom in the
Asia-Pacific region, should result in a substantial increase in income.
The Board believes that with such strong potential income from its
products, the Company's shares will increase in value sufficiently to
qualify for a major exchange listing planned for this year.
The pro-forma income statements presented at the recent Board meeting
show that the BentleyTel.com's proprietary SmartCard, with the first
500,000 members, should realize gross income of $107,000,000 million
with a net profit of $73,500,000 by the end of 2002.
MessagePilot(TM) will be available as a Business-to-Business product as
well as an enhanced service on the proprietary SmartCard. These
pro-forma statements also show that the first 950,000 members should
result in a net profit of $61,500,000 by the end of 2002.
Global TeleMedia International, Inc., located in Newport Beach,
California, through its BentleyTel.com subsidiary, is a leading
developer of software for media, high speed, Internet and wireless
communication systems, including international & long distance Voice
over IP, LAN VPN (Virtual Private Network), ISP, Virtual ISP, and
PC-PC, PC-Phone transmission of data and voice. It also owns certain
real estate based assets in the Philippines.
This press release contains forward-looking statements. All such
statements involve risks and uncertainties, including, without
limitation, the risks detailed in Global TeleMedia's filings and
reports with the Securities and Exchange Commission. Such statements
are only predictions and actual events or results may differ |
