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Prospector
Profile
110-04
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| GlobeTel Communications Corp. |
NAICS |
517110 |
| 101 NE 3rd Avenue Suite 1500
Fort Lauderdale, FL 33301 |
Description |
VOIP Services |
| (954) 332-3759 |
Employees |
75 |
| http://www.globetel.net/ |
Revenue |
(mil) |
10.1400 |
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Income |
(mil) |
-39.0800 |
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Assets |
(mil) |
10.4100 |
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Liability |
(mil) |
9.9100 |
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(for the year ended 2005-12-31) |
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Category:
Loss/Deficit
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Event:
GlobeTel Communications Corp. had a net loss of $39,082,945 on revenues of $10,144,780 for the year ended December 31, 2005, compared to a net loss of $15,944,869 on revenues of $11,309,376 for the year ended December 31, 2004. As a result of its recurring losses, the Company has an accumulated deficit of $81,521,980 and stockholders' equity of only $504,589. It also has strained liquidity with $3,330,778 in total current assets available to pay $5,198,766 in total current liabilities.
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Intellectual Property:
The Company has trademark applications for MagicMoney, GlobeTel in Canada, Mexico, Guatemala, Brazil and the Philippines. It has also filed for registration of the names "Stratellite" and "Sanswire" under the Madrid Protocol and in many non-Madrid Protocol countries. The Company intends to file for patents covering unique design and intellectual property covering the design and engineering of the Stratellite. [SEC Filing 10-K/A 12-05-07]
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Description:
GlobeTel Communications provides an integrated suite of telecommunications products and services, utilizing Stored Value, Voice over Internet Protocol, and wireless access technologies.
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Officers:
Przemyslaw Kostro (Chair); Leigh Coleman (Pres. & Dir.); Timothy Huff (CEO & Dir.); Jerrold Hinton (Dir.); Mitchell Siegel (Dir.); Thomas Y. Jimenez (CFO); Michael Molen (Dir.); Kyle McMahan (Dir.)
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Auditor:
Dohan & Company CPAs
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Securities:
Common Stock-Symbol GTEM.PK; Other OTC;
108,062,660 common shares outstanding as of August 9, 2006.
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