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New Wave Media Inc and Playstar set to close acquisition on Tuesday July 17, 2007
TORONTO, July 13 /PRNewswire-FirstCall/ - New Wave Media Inc (OTC: NWWV.PK - News) and Playstar Corporation (OTC: PLYCF.PK - News) would like to update shareholders of both companies on the definitive closing of the acquisition of Playstars subsidiary Premeir Mobile Technologies Inc. on July 17,2007 on an changed 1 for 1 basis.
After this acquisition is complete New wave will update shareholders and complete the following
1) dividend spin-off which has been announced and will be delayed but
completed in August, 2007
2) audit update and filing for OTCBB, which is scheduled to take place
in September after dividend spin-off completed
3) merged corporate update on business developments
Stewart garner states, “This has been a trying time for our shareholders and for that we truly apologize. Once this acquisition is complete, we can execute our promises in a more timely manner. Our audits are complete on New Wave and will now have to be merged with Premeir’s then we can file with OTCBB. Our goal is to build a strong SMS corporation and we feel we are on the right track. We look forward to updating shareholders on new corporate developments in the near future, and once again thank everyone for their patience. The increases of .8 share to a full share in the exchange was an agreed upon price by our advisors and legal team.”
New Wave Media currently has 137,000,000 restricted and 117,000,000 free trading shares for a total of 254,000,000 and the transfer agent is transfer Online of Portland Oregon. Playstar Corp has 100,000,000.
This press release contains “forward looking” statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in New Wave Mobile reports that will be on file with the US Securities and Exchange Commission.
GlobeTel Communications Sues Former Vendor Trimax and Ulrich Altvater
FORT LAUDERDALE, Fla., July 12, 2007 /PRNewswire-FirstCall via COMTEX News Network/—GlobeTel Communications Corp. (Pink Sheets: GTEM) (the “Company") today announced that pursuant to the termination of an agreement under which Trimax Wireless Inc. was to provide manufacturing services to GlobeTel, the Company has filed a lawsuit against Trimax and Ulrich Altvater, Trimax’s principal executive officer and shareholder, to (1) recover possession of assets, valued at approximately $300,000, belonging to the Company’s shareholders currently being wrongfully detained by Trimax and Altvater, and (2) recover the principal amount of $175,000, plus interest and court costs, from Altvater in conjunction with a loan made by the Company to Altvater in 2006.
Peter Khoury, Chief Executive Officer, stated, “Trimax violated its agreement with us and we’re moving forward with other manufacturing resources, both contracted and in-house, to build our HotZone(TM) wireless equipment and honor our commitments. Through this legal action, we seek to recover GlobeTel corporate assets being held by Trimax, and seek to have Mr. Altvater repay his outstanding debt to the GlobeTel shareholders.”
About GlobeTel Communications Corp. and Sanswire Networks
GlobeTel Communications Corp. develops and provides an integrated suite of terrestrial and aerospace telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Sanswire Networks is focused on the construction of the Stratellite(TM) and SkySat(TM) airship platforms, capable of carrying payloads that transmit various types of wireless communications and security solutions. For more information, please visit the GlobeTel websites; http://www.globetel.net, http://www.sanswire.com and http://www.globetelwireless.com .
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. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
SOURCE GlobeTel Communications Corp.
Robert Bleckman of GlobeTel Communications Corp., +1-954-607-1295
http://www.globetel.net