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.