Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : GLTI (Global TeleMedia International Inc.)-fomerly GTMI -- Ignore unavailable to you. Want to Upgrade?

To: jebj who wrote (289)	2/7/1999 11:39:00 AM
From: JP390	Respond to of 613

Yea I agree....just a small taste would be fine!!!!

To: jebj who wrote (289)	2/9/1999 12:08:00 AM
From: S. Bashakis	Respond to of 613

I was wondering if the Philipine holding company read the November 10qsb. The company's liquidity is scary. The Company has an overdraft position of $92,325 at September 30, 1998.. They raised funds during the nine months ended September 30, 1998 by the sale of nutritional licenses ($500,000), and issuing common stock ($442,000) at prices ranging from $.10 to $.30 per share. As of September 30, 1998, the Company had convertible debentures payable totaling $5,266,000, accrued but unpaid expenses totaling $1,757,432, and accounts payable totaling $11,894,694. The terms of the convertible debentures provide that as of August 15, 1998, the convertible debentures automatically convert, including accrued and unpaid interest, into approximately 18.8 million shares of common stock, in accordance with the terms of the convertible debentures. However, the convertible debentures are the subject of litigation currently in process, and the issues related to the automatic conversion of the convertible debentures and other claims for damages remains the subject of the litigation. The increase in accounts payable and accrued expenses resulted substantially from the Company's underlying carrier obligations associated with the wholesale international sales which, as of September 30, 1998 the Company has not paid. The Company has historically financed its operations principally through the sale of equity and debt securities and through funds provided by operating activities. Management believes that the Company can sustain operations only by the infusion of substantial amounts of financing. Inability to obtain such financing could force the Company to cease all business operations. There can be no assurances that such financing can be completed on terms favorable to the Company or at all, or that the Company will ever achieve profitable operations or be able to continue in business. How can GTMI buy anything. Buyer Beware but I guess at .21 everyone already knows this so I will shut up.