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Article Excerpt
M2 PRESSWIRE-30 December 2005-BUYINS.NET: GlobeTel Communications (GTE) SqueezeTrigger Price Is $2.04. Short Sellers Are Down Approximately $5.5 Million After Company Signs $600 Million Russian Wireless Deal.(C)1994-2005 M2 COMMUNICATIONS LTD
RDATE:30122005
BUYINS.NET, www.buyins.net, announced today that the 4.05 million shares declared short on GlobeTel Communications (AMEX: GTE) have a SqueezeTrigger Price of $2.04 per share. GlobeTel Wireless has entered into an agreement with LLC Internafta ("Internafta") of Moscow, Russia, whereby Internafta will pay to GlobeTel Wireless a series of four construction payments totaling US$600 million for the installation of an array of proprietary networks to be installed in Russia's 30 largest cities, starting with Moscow and St. Petersburg. GlobeTel Wireless will both manage the completed network and will retain an ongoing 50% shareholding in the operations of the network, allowing the Company to enjoy the significant benefits of the recurring revenue stream. GlobeTel plans to roll out the network in 3 stages, comprising 10 cities each, over the next 27 months. Short sellers are down approximately $5.5 million as the stock is currently trading near $3.40. To access SqueezeTrigger Prices ahead of short squeezes beginning, visit http://www.buyins.net/squeezetrigger.pdf.
From May to November of this year, an aggregate amount of 23,717,114 shares of GTE have been shorted for a total dollar value of $48.2 million. The GTE SqueezeTrigger price of $2.04 is the volume weighted average price that all shorts are short in shares of GTE. Since crossing above the SqueezeTrigger Price, shares of ENER are up nearly 66%. There is still approximately $13.8 million worth of potential short covering in shares of GTE.
GlobeTel...
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