FORT LAUDERDALE, FL -- (Marketwire) -- 09/25/08 -- GlobeTel Communications Corp. (PINKSHEETS: GTEM) announced that it has been renamed Sanswire Corp. This new name became effective as of September 24, 2008. For trading purposes, the Company has submitted application with Nasdaq for a new stock trading symbol, and will announce the symbol and effective date upon completion of the process.
Jonathan Leinwand, Chief Executive Officer of Sanswire, comments, "Our new name more accurately reflects our operations; building, marketing and selling customized airship platforms. We're proud to be in partnership with TAO Technologies, an innovator in the unmanned aerial vehicles business, through our Sanswire-TAO joint venture. We strongly believe in the value proposition of the Sanswire products, and are very encouraged by the responses to our patented technologies."
The name change was effected through a short form merger as allowed under Section 253 of Delaware corporate law. The Company remains domiciled in Delaware as well. The Company's web site is now at URL www.sanswire.com.
About Sanswire Corp.
Sanswire Corp. develops and provides an integrated suite of aerospace communications products and services, leveraging its relationships with leaders in UAV (Unmanned Aerial Vehicle) technologies. Sanswire Corp. is focused on the design and construction of various aerial vehicles, capable of carrying payloads that provide persistent surveillance and security solutions at various altitudes.
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.