Monday October 9, 7:02 am Eastern Time
Press Release
SOURCE: Global TeleMedia International, Inc.
Global TeleMedia Shareholders Meeting Report
The Company's Shareholders Meeting, Held on Board the Queen Mary in Long Beach Harbor on October 7th 2000 Was Attended by Approximately 100 Shareholders And Guests and All Items on the Proxy Statement Were Approved
NEWPORT BEACH, Calif., Oct. 9 /PRNewswire/ -- Global TeleMedia International, Inc. (OTC Bulletin Board: GTMI - news) announced that the Shareholders meeting held in the Grand Ballroom of the HMS Queen Mary was a resounding success. The company's President Jonathon Bentley-Stevens welcomed the shareholders and guests. The formal meeting was followed by one and half hours of informal discussions when all of the questions put to GTMI management were answered extensively.
The meeting officials included a voting inspector from Mendoza Berger & Co. The President, Jonathon Bentley-Stevens, Executive Vice president Regina S. Peralta, COO John Walsh, CFO David Tang, GTMI Corporate Counsel, Jeffrey Tisdale, and Chartered Financial Analyst Raymond ``Bo'' O'Brien, representing a Chicago based firm FinMap.
During the meeting the Board re-affirmed its desire to limit the reverse split to around 3 or 4-1. Management recognized that certain events would need to occur in order to increase share value in a range wherein this modest reverse split was sufficient to qualify for the American Stock exchange. Management is confident that events soon to be announced which includes partnerships and imminent product releases should increase investors confidence in the Company and this should result in a more realistic share value.
President Jonathon Bentley-Stevens said, ``I would like to thank the shareholders for their effort and expense in attending the meeting. The atmosphere of the Grand Ballroom was splendid. The shareholders meeting was followed by a three course lunch and discussions with shareholders which continued until 3 p.m. in the afternoon. With the approval of all items in the proxy statement GTMI Management can now conclude several agreements and financing opportunities that are key to the release of the Company' products this quarter. The one and a half hours of informal discussions, questions and answers covered every major topic and all questions were exhaustively answered and clarified. The shareholders who attended the meeting now understand some of the strategies that are key to the growth of the company. The GTMI.com web site should be activated this week and we are exploring the possibility of attaching a video of the shareholders meeting to the site.''
He continued, ``GTMI's emergence into the International Telecom VoIP and E-commerce arena was never a '100-yard dash,' it was always a 'marathon.' Investors who are looking for another emerging Microsoft or AOL should look closely at GTMI and its product depth and stability in not only the management but also the solid infrastructure and networks that represent territory, market share and revenue in 4 countries. Our networks are in place and with our 3-year Ericsson partnership we intend to capitalize on our ground presence in three of the major Asian countries. The release of the Smart-e-Card in 4th quarter 2000 will represent the first GTMI product released in the USA and we are anticipating a continued excellent international reception for all BentleyTel products and services.''
PR CONTACT : Tim Garlin, PrimeVest.net 1-866-774-6468.
Global TeleMedia International, Inc., located in Newport Beach, California, and Atlanta, Georgia, through its BentleyTel.com subsidiary, (www.bentleytel.com) is a leading developer of interactive software for complex E-commerce solutions, multi-media and 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 manufacturing and, telecom, ISP, and software development facilities in 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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