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August 15, 2005 Stock Pick: GlobeTel Communications Corp. (GTE)

Stock Price: $1.95

GlobeTel Communications Corporation is a diversified telecommunications and financial services company. The company operates business units in stored value debit cards, the sale of carrier grade VoIP long distance to major long distance re-sellers, as well as VoIP Technology and high altitude airship research and development.

On Thursday of last week, GlobeTel reported second quarter revenue of $19.7 million compared to $3.79 million for the same period last year, a 419% increase. Total losses for the quarter were $3,115,294, excluding non-recurring one-time charges of $2,842,035. The company reported lower margins due to its move to a new, larger network operations facility in Los Angeles.

The projected annual revenue run rate is now at $75 million. The company keeps its shareholders well informed and is continuing to grow at a rapid pace.

GTE has been in a slump since eclipsing the $5.00 level several times earlier this year, and is now at a solid level with minimal downside to $1.50. GTE will steadily climb as contracts and other good news continue to be announced.

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