SNSR Stock, Sanswire Releases 2008 Financials on Form 10-K
Sanswire Corp. (Pink Sheet: SNSR stock news), AKA GlobeTel GTEL Communications Corp., released its 10-k.
In the year ending December 31, 2008, SNSR reported a net loss of ,$5,438,612, or ($0.04) per share, with no revenue, compared to a net loss
of ($11,605,478), or ($0.10) per share, on revenues of $53,754, for the
year ended December 31, 2007. The Company's weighted shares outstanding at
year end 2008, basic and diluted, rose by almost 25% to 151,534,774 over
year end 2007.
The net loss for fiscal 2008 is attributed to an operating loss of
($3,214,345), and net other expenses totaling ($2,224,070); primarily a
loss from extinguishing debt ($1,096,650) and interest expenses
($1,127,420).
The Company also filed periodic reports that had been outstanding for the
first, second and third quarters of 2008. These 10-Q filings also contained
comparative data for 2007.
"Our primary goals are to build and run an airship business where we can
provide full transparency and accountability for our customers, partners,
and shareholders. With the completion of our financial statements for 2008
we accomplished a major step in moving closer to achieving our overall
goals and throughout this year we look forward to advancing the corporation
and executing our business plan to build the company and shareholder
value," said Jonathan Leinwand, CEO Sanswire Corp.
Sanswire has made its Annual Report on Form 10-K available via its web
site, www.sanswire.com.
About SNSR Stock Profile Sanswire Corp.
Sanswire Corp. is focused on the design, construction and marketing of
various aerial vehicles most of which would be capable of carrying payloads
that provide persistent surveillance and security solutions at various
altitudes. The airships and auxiliary products are intended for end users
that include military, defense and government-related entities.
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 a lawsuit filed
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.
