PART 2 of GTMI REPORT...remember the company projected $16M in monthly profits today. Stock is misunderstood and still 27 cents, it's a re-invented company now, as of March 29th. People are not picking up on that yet.
Here's just the "meaty" portion of the March 29th PR, which led up to the PR today:
ATLANTA--(BUSINESS WIRE)--March 29, 1999--Global Telemedia International
Inc. (OTC Bulletin Board: GTMI-News; "GTMI") today announced that it has closed
its acquisition of Bentley House Furniture Company, Inc. ("BHFC") with the delivery of
99.8% of BHFC stock in escrow.
GTMI anticipates receipt of the delivery of the balance of the BHFC stock from
BHFC's minority stockholders in the near future.
BHFC is a Philippine Holding Company with interests in:
telecommunications, agriculture, mining, timber export and furniture manufacturing.
BHFC also has a 50% equity in BHTC Sdn. Bhd., its Brunei subsidiary timber
marketing and furniture distribution company.
"Other, Operations, Contracts and Projects include:
-- Joint ventures with contracts for construction of government employee homes. These
include the National Police, Armed Forces of the Philippines and the Department of
Interior and Local Government.
Construction and will commence during the second quarter of 1999. The Government
has certified the issuance of US$14 million dollars in bonds to cover the first portion of
the construction costs. The houses
will be constructed on BHFC's properties, which are subdivided. Construction permits
have been issued
on over 20,000 housing lots.
-- Contracts with San Antonio Housing Systems & Technology Inc. and Canadian
Company, Monterey Corporation through their Philippine Corporation Integrated
Philcan Inc. Both companies build rapid
construction modular housing, have factories in the Philippines, and are fully licensed and
accredited with the Philippine Government.
-- Pending contracts with hotels specifically being constructed for the 2000 Olympics.
These are located in Tagayay, Manila, Redfern in Sydney, with other condo-tels and
boutique hotels which are completed in Makati City are awaiting BHFC's New York
Designer to submit final renderings and layouts.
Global Telemedia International Inc. (GTMI) is a full-service communications company
focusing on international communications networking in emerging countries. The
company holds the necessary
certificates of conveyance with applicable public service communications in the
continental United States as well as an international carrier license. The company is also
drafting a telecommunications agreement with An Australian Company to Joint Venture
and expand their operations in the BIMP-EAGA countries
(Brunei, Indonesia, Malaysia & Philippines) that have combined populations of over
400 million people.
The statements contained in this release may contain forward-looking statements relating
to such matters
as anticipated financial performance, business prospects, technological developments,
new products,
research and development activities and similar matters. The Private Securities Reform
Act of 1995
provides a safe harbor for forward-looking statements. In order to comply with the
terms of the safe harbor,
the Company notes that a variety of factors could cause the Company's actual results to
differ materially
from the anticipated results of other expenditures expressed in the Company's
forward-looking
statements.
CONTACT: Mark Wachs & assoc. (for GTMI)
Mark Wachs, 212/832-2800 |
