FORT LAUDERDALE, Fla., April 19 /PRNewswire-FirstCall/ -- GlobeTel Communications Corp. (Pink Sheets: GTEM) announced that as of today, it has received $750,000 in additional funds from existing investors through the exercise of warrants issued in conjunction with a private placement of the Company's Common stock in August 2005. Full exercise of all warrants issued in conjunction with this round of funding would generate $900,000 in proceeds for the Company. The exercise price of the warrants had been adjusted from their original exercise price. About GlobeTel Communications Corp. GlobeTel Communications Corp. develops and provides an integrated suite of telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Individually, each of GlobeTel's business units function as distinct, stand-alone entities. Together they form a powerful alliance of human talent and technological innovation resulting in the SuperHub(TM) worldwide VoIP network, Sanswire Stratellite(TM) platform and products enabling simpler, cheaper transmission of voice and data. GlobeTel has historically focused its business development on markets outside of the United States. For more information, please visit: http://www.globetel.net. Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward- looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including an ongoing formal investigation by the U.S. Securities & Exchange Commission and delayed filings of quarterly results, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements.
SOURCE GlobeTel Communications Corp.