GlobeTel Board of Directors Reduces in Size
OREANDA-NEWS. On March 22, 2007 GlobeTel Communications Corp. (Pink Sheets:GTEM) announced that Michael Castellano and Patrick Heyn would no longer serve on its Board of Directors. The Board currently consists of Przemyslaw L. Kostro, Peter Khoury and Jonathan Leinwand, reported the press-centre of GlobeTel Communications Corp. Przemyslaw L. Kostro, Chairman, stated, "This is not a permanent reduction as we intend to repopulate the Board with a slate of new independent directors at the appropriate time. At this pivotal time within the history of our Company, I believe our management team and shareholders can benefit most from solid, decisive oversight that the current board configuration provides. We appreciate the time Mr. Castellano and Mr. Heyn gave to our Company and we wish them success with their future endeavors".
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, strong 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. 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.
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