Global Telemedia International Board of Directors has Officially Cancelled the Proposed Reverse Split.Business/Technology Editors Company Believes Explosive Growth Potential And Future Projected Income From MessagePilot(TM) And The BentleyTel Proprietary SmartCard Have Eliminated The Need For a Reverse Split of The Company's stock. NEWPORT BEACH, Calif.--(BUSINESS WIRE)--March 3, 2000 Global TeleMedia International, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BB: GTMI GTMI Go to Market Initiative ) announced today that its Board of Directors in voting to cancel the reverse split cited the potential growth figures from its BentleyTel.com subsidiary, which should show significant income in the second quarter 2000, and continue strongly in the second half of 2000. The Board has decided that the expansion of the Company's network and operating divisions, together with the current economic boom in the Asia-Pacific region, should result in a substantial increase in income. The Board believes that with such strong potential income from its products, the Company's shares will increase in value sufficiently to qualify for a major exchange listing planned for this year. The pro-forma income statements presented at the recent Board meeting show that the BentleyTel.com's proprietary SmartCard, with the first 500,000 members, should realize gross income of $107,000,000 million with a net profit of $73,500,000 by the end of 2002. MessagePilot(TM) will be available as a Business-to-Business product as well as an enhanced service on the proprietary SmartCard. These pro-forma statements also show that the first 950,000 members should result in a net profit of $61,500,000 by the end of 2002. Global TeleMedia International, Inc., located in Newport Beach, California Newport Harbor redirects here. For the MTV reality series, see . Newport Beach, incorporated in 1906, is a city in Orange County, California, 10 miles south of downtown Santa Ana. , through its BentleyTel.com subsidiary, is a leading developer of software for media, high speed, Internet and wireless communication systems, including international & long distance Voice over IP, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. (Virtual Private Network), ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. , Virtual ISP, and PC-PC, PC-Phone transmission of data and voice. It also owns certain real estate based assets in the Philippines. This press release contains forward-looking statements. All such statements involve risks and uncertainties, including, without limitation, the risks detailed in Global TeleMedia's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially. This release and prior releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion