Agreed! people don't understand that as of March 29th, this is a NEW Company ...totally reinvigorated.
Again here is the info that led up to today's incredible PR:
To: +Alan Coccio (11168 )
From: +Dave Gore
Wednesday, Apr 7 1999 2:25PM ET
Reply # of 11195
Alan, here's more **GTMI** DD: It get's better. This is a new powerful, totally
re-invented company now (see below)
Here's just the "meaty" portion of the March 29th PR:
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.
CONTACT: Mark Wachs & assoc. (for GTMI)
Mark Wachs, 212/832-2800 |
