Message #2 From:
Stock News Bot Date: August 4, 2005 02:46:00 AM
GLBT News GlobalNet to Engage CPA Firm De Leon & Company, P.A.
LOMBARD, Ill.--(BUSINESS WIRE)--Aug. 4, 2005--GlobalNet Corporation (Pink Sheets:GLBT) announced that its board of directors approved on Aug. 3, 2005 the engagement of De Leon & Company, P.A. as GlobalNet's independent auditors.
"De Leon & Company, P.A. is an excellent choice for GlobalNet at this stage in the company's restructuring program. De Leon & Company, P.A. has significant experience in the telecom industry and working with public clients. Importantly, the firm offers the highly personalized attention we currently need," said Mark Wood, Chairman and CEO of GlobalNet.
Wood added, "De Leon & Company, P.A. will be assigned to complete GlobalNet's year-end 2004 audit and direct the on-going analysis related to our merger with iDial Networks (now GlobalNet Corporation) and subsequent, prior referenced equity transactions."
GlobalNet will file a copy of this press release with the Securities and Exchange Commission pursuant to Form 8-KA, which will be available for free on the SEC's website at www.sec.gov.
About GlobalNet Corporation
GlobalNet Corporation, a Voice over Internet Protocol (VoIP) services company, is one of the top ten U.S. service providers of outbound traffic to Latin America and counts among its customers more than 30 Tier 1 and Tier 2 carriers. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private IP network to international carriers and other communication service providers in the U.S. and internationally. GlobalNet's state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications. More information may be obtained from our website at www.gbne.net.
About De Leon & Company, P.A.
De Leon & Company, P.A. is a professional accounting and consulting firm servicing both private and publicly owned clients. The company's commitment is to provide personalized attention to each client. The firm is committed to excellence in providing audit, accounting, tax, and business solutions to its clients' needs. The firm is staffed with seasoned professionals having extensive experience in the practice of public accounting. More information may be obtained from its website at www.dlcpa.net.
Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
