Tuesday August 29, 7:01 am Eastern Time
Press Release
SOURCE: Global TeleMedia International, Inc.
Global TeleMedia International Shareholder Meeting To Be Held on The Queen Mary
Global TeleMedia International Announced That It Had Completed a Preliminary Filing of Its 2000 Proxy Statement and Has Reserved the Ball Room of The Ship The Queen Mary, in Long Beach, CA for Its Shareholders Meeting to Be Held On September 30th 2000
NEWPORT BEACH, Calif., Aug. 29 /PRNewswire/ -- Global TeleMedia International (OTC Bulletin Board: GTMI - news; www.GTMI.com) announced today that it had accomplished a preliminary filing of its year 2000 proxy statement. The proxy will be under review for the next 10 days. Once approved the company will file a permanent version of its proxy statement and the shareholders meeting will be held 20 days following the mailout of the annual report and proxy statement.
Any shareholder wishing to receive an electronic final copy should e-mail the Company's PR firm, PrimeVest.net at Contact@primevest.net
President, Jonathon Bentley-Stevens said, ``The proxy statement sets out the building blocks for the future of the company. We had a productive phone conference with members of the Amex listing committee and are completing its comment letter received from the Amex. We are confident that we will qualify and hope to be on the Amex before years end.
With the launch of our highly successful ISP-VoIP-VPN-ITSP National Network in Australia, many multinational companies have expressed an interest in a strategic alliance and or partnership with BentleyTel.com. The company is currently under multiple NDA's and in a ``quiet period'' in order to construct various agreements, our attorneys in Australia and the USA have received draft agreements pertaining to our network, marketing and national distribution of proprietary products, due out this year.
We plan to roll out another 20 TeleCenters this quarter in the Philippines, and plan to file for carrier status in Malaysia. We plan to continue to meet with industry leaders and discuss strategy for national and international marketing and product roll out. The plan is for steady growth in multiple countries simultaneously, we have targeted 10% of the 14.7 billion minutes of intra Australian Traffic as our medium term goal, our target is to capture 1.4 billion minutes of traffic which we will offer at $0.10 - $0.18 cents per minute, a 20-50% reduction on existing traffic costs. We also plan to increase our ISP clients by 500% before the end of the year. With the launch of our Australian affiliate program existing ISP's can join for a nominal fee depending on their client base. There are approximately 70 ISP's utilizing Ericsson Tigris equipment, these can ``plug straight in'' to our VoIP network. Some ISP's have a few thousand clients and some have over a hundred thousand clients. We are meeting with companies who have similar networks to enable BentleyTel to terminate calls into the USA and allow transpacific VoIP and VPN for Multi-national corporations. BentleyTel's ITSP solution is an alternative to current traditional telephone or internet telephony services. Products will include low cost pre-paid ``phone to phone'' or ``PC to Phone'' calls as well as the Phonedoubler(TM) Solution which enables customers, with only one line to make and receive calls while on-line.``
We did not expect a meteoric rise. Since taking over the helm of GTMI, in June, 30, 1999, our mission has remained steadfast, develop and market new and innovative products, pursue acquisitions, strategic alliances and or partnerships with multi national telecoms, software engineers, hardware providers and focus on reduction of debt, increase in revenue and shareholder value.
As a lead up to the shareholders meeting GTMI plans to host a shareholders conference call in order to gather input for the preparation of the agenda of the meeting. A schedule for the conference will be announced soon.
PR INQUIRIES, CONTACT: Tim Garlin, PrimeVest.net, (866) 774-6468.
Global TeleMedia International, Inc., www.GTMI.com located in Newport Beach, California, through its BentleyTel.com subsidiary, (www.bentleytel.com) is a leading developer of interactive software for complex E-commerce and financial solutions, Smart-e-Cards, www.smart-e-card.net multi-media and high speed Internet and wireless communication systems, Voice over IP, LAN VPN (Virtual Private Network), ISP, Virtual ISP, and ITSP GTMI also owns manufacturing, telecom, ISP, and software development facilities in the USA, Australia, Malaysia and 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 materially.
SOURCE: Global TeleMedia International, Inc.
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