GlobalNet to Engage CPA Firm De Leon & Company, P.A.LOMBARD, Ill. -- GlobalNet Corporation (Pink Sheets:GLBT GLBT Gay, Lesbian, Bisexual, Transgendered ) announced that its board of directors approved on Aug. 3, 2005 the engagement of De Leon & Company, P.A. as GlobalNet's independent auditors. "De Leon & Company, P.A. is an excellent choice for GlobalNet at this stage in the company's restructuring program. De Leon & Company, P.A. has significant experience in the telecom industry and working with public clients. Importantly, the firm offers the highly personalized attention we currently need," said Mark Wood, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GlobalNet. Wood added, "De Leon & Company, P.A. will be assigned to complete GlobalNet's year-end 2004 audit and direct the on-going analysis related to our merger with iDial Networks (now GlobalNet Corporation) and subsequent, prior referenced equity transactions." GlobalNet will file a copy of this press release with the Securities and Exchange Commission pursuant to Form 8-KA, which will be available for free on the SEC's website at www.sec.gov. About GlobalNet Corporation GlobalNet Corporation, a Voice over Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (VoIP) services company, is one of the top ten U.S. service providers of outbound traffic Traffic originating in the continental United States destined for overseas or overseas traffic moving in a general direction away from the continental United States. to Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and counts among its customers more than 30 Tier 1 and Tier 2 carriers. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private IP network to international carriers and other communication service providers in the U.S. and internationally. GlobalNet's state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications. More information may be obtained from our website at www.gbne.net. About De Leon & Company, P.A. De Leon & Company, P.A. is a professional accounting and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a servicing both private and publicly owned Publicly owned can refer to:
Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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