Thanks. I don't know about the float.
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PS to Hawaii60 - I noticed your posts over on RagingBull. Lots of rude and snarly people over there! And many posts there and here seem to be touting the stock, as you say. TTUL.
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I had another look thru the annual report of GBNE on Freeedgar and noted they did not identify any customers, and the press releases on Yahoo and www.gbne.net do not identify them either. They just say they had about $78M of annual revenue, but don't really say where it came from.
They hint that they have added more customers including Tier 1 telecomm co's - a guy on Raging Bull said these are Global Crossing etc. Anyway I find it suspicious - if the customers are not identified how can an investor confirm the claimed revenues? Also some of their "new deal" announcements are with foreign companies, and not easily verified, so they could be fake, that is a classic stock promoter's trick from way back.
GlobalNet claims to be in Chicago, yet mostly does business in South America with its node sites for VOIP. Doesn't look right for head office to be so far from the customers. Also it conveniently makes it tough for us to check things out.
Also they say they only have 27 employees, a small company.
On Raging Bull they do not tolerate anyone making negative comments about the stock. Possibly the remains of an organized group of stock touts.
Another worrying point is that Myron Gushlak (accused of fraud re GlobalNet) lives in West Vancouver, BC, Canada - the same suburb where the Papalia family of stock artists lives (up to 3 family members doing this, plus associates, but they are now not too active). Their Crys-Tel stock of 2 years ago has an almost identical description, when compared with GlobalNet, however CYSS never really got into operation, although they did buy a few Nokia voip gateway boxes and tried them out at an ISP with poor results, due to delays on the internet. I wonder if Gushlak and the Papalias got together and moved on, to set up the GBNE listing. Given their backgrounds (both accused of stock fraud in courtrooms and live in West Vancouver) it is possible they know each other.
In my daydreams I speculate that GlobalNet's operation is mostly fictional, it could be strictly a P&D, and they are in collusion with the Papalias. It's just a wild guess at this point. How's that for a nightmare?
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PS fans have set up a web site with information on the "family" members.home.net |
