IMMEDIATE ALERT! GTMI....just announced NEWS of $16M per MONTH profits..... for a 27 cent stock.....can it be?
(COMTEX) B: GTMI Subsidiary, Bentley House Furniture Company, Project
B: GTMI Subsidiary, Bentley House Furniture Company, Projects New Contract Will
Generate More Than US$36 Million in Monthly Revenues and US$16 Million in
Monthly Gross Profits
ATLANTA (April 7) BUSINESS WIRE -April 7, 1999--Global Telemedia
International Inc. (OTC BB: GTMI-News), through its wholly owned
subsidiary Bentley House Furniture Company (BHFC), has entered into a
joint venture contract with San Antonio Housing Systems & Technology
Inc. (SAHSTI) to build government employee homes in the Philippines, it
was announced today by Jonathon Bentley-Stevens, chairman and CEO of
BHFC.
The contract is expected to generate more than US$36 million in
monthly revenues and US$16 million in monthly gross profits, which will
be in addition to any revenues or profits generated by GTMI's exclusive
telecommunication rights or any other BHFC or GTMI revenues or gross
profits.
Construction permits have been issued on approximately 20,000 housing
lots on properties owned by BHFC. The homes, which will be built for
the National Police, Armed Forces of the Philippines and the Department
of Interior and Local government. The average sales price of the houses
being constructed will approximate US$10,000, and generate to BHFC a
gross profit of more than 45 percent. Using modular design and steel
construction technology, the houses can be completed at the rate of 120
per day, or approximately 3,600 per month. Construction crews have been
scheduled seven days per week.
The BHFC / SAHSTI Joint Venture has all the government permits
necessary to begin construction immediately. The Government of the
Philippines, through the Government Service Insurance System, a Federal
Body, has certified the issuance of the initial $14 million dollars in
government bonds to guarantee payment to the joint venture upon
completion. Construction is expected to start during the second quarter
of 1999, and should ramp up to full production during the fourth
quarter of this year.
BHFC has established a property development division based in Cagayan
de Oro City, employing 14 people, including legal, engineering,
administrative, etc., to expedite the engineering and regulatory needs
of additional subdivisions it has contracted for, including the
procurement of additional construction permits. The first additional
groups of subdivisions, include approximately 55,000 lots.
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