GlobeTel Completes Acquisition of Sanswire Technologies.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--April 28, 2004 GlobeTel Communications Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GTEL) today announced the signing of an Asset Purchase Agreement to purchase certain assets of Atlanta based Sanswire Technologies, Inc. (SNWR SNWR Sevilleta National Wildlife Refuge (New Mexico) ). GlobeTel's primary interest was in purchasing Sanswire's Stratellite technology and all related contracts and intellectual property. GlobeTel is an IP solutions/applications based company. With international carrier termination business as the base and the beginning of the Company's services, GlobeTel's goals are to provide strategic advantages to commodity telecommunications based products. Taking such products as voice termination, prepaid calling cards, store valued debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and IP adapters and giving these products and services unique market advantages through the deployment of unique software and IP platforms. In each of these cases, GlobeTel has developed unique approaches that give the Company market advantages worldwide. The Sanswire acquisition is another example of the aggressive approach GlobeTel is taking in the IP industry. The Company will form a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. and utilize the trademarked names Sanswire and Stratellite. Sanswire is developing a National Wireless Broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 Network utilizing high-altitude airships called Stratellites that when completed, will be used to provide wireless voice, video, and data services. A Stratellite is similar to a satellite, but is stationed in the stratosphere rather than in orbit. At an altitude of only 13 miles, each Stratellite will have clear line-of-site to an entire major metropolitan area. The Stratellite will allow subscribers to easily communicate in "both directions" using readily available wireless devices. To learn more about Sanswire and the Stratellites, visit the company's website at http://www.sanswire.com. Michael K. Molen, 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 Sanswire Technologies, stated: "I am very excited with our relationship with GlobeTel. It is a very positive move for Sanswire shareholders, as GlobeTel gives us the ability to fast-track the deployment of the Stratellite network, solves the telecom element of our bundled package, and increases our access to the international marketplace." Timothy Huff huff - To compress data using a Huffman code. Various programs that use such methods have been called "HUFF" or some variant thereof. Opposite: puff. Compare crunch, compress. , CEO of GlobeTel stated: "I am very excited about the opportunities that Sanswire brings to GlobeTel and our shareholders. We already have several opportunities for this technology and we feel that Sanswire will make very positive contributions to our efforts to create a worldwide IP super structure." 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. Statements This press release contains forward-looking statements within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and Company projections. The statements contained in this press release involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. |
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