TROIS-RIVIERES, Nov. 29 /CNW Telbec/ - The Board of Directors of
GlobeeCom International Inc. ("GlobeeCom") (TSX Venture: GBC) has approved the
Company's unaudited interim financial statements for the period ended
September 30, 2005.
At the close of its third quarter ended September 30, 2005, GlobeeCom
recorded year-to-date revenues of $235,357, approximately half of which from
European sales. Revenues for the third quarter alone amounted to $105,933, up
more than 60% over the previous quarter. These results are in line with
management's forecasts for the first nine months of 2005.
For the same period, GlobeeCom International Inc. posted a consolidated
net loss of $1,138,908 after CDTI research and development tax credits of
$78,564 and interest income of $4,530. Results include a stock-based
compensation expense of $74,103.
GlobeeCom was accredited as a CDTI (Centre of Development in Information
Technology) in 2001. CDTI credits on eligible salaries are valid until 2013.
The Company also announces that the Board has granted, pursuant to its
Share Purchase Option Plan, to Mr. Daniel Misiano, Vice-President Sales and
Business Development, options to purchase a total number of 60,000 Common
Shares, for a period of 5 years, at a price of $0.20 per share. These options
will expire on November 29, 2010.
RECENT DEVELOPMENTS
On November 22, 2005, the Company was granted an advance ruling by Revenu
QuDebec for an accreditation to the ACCRO program, which will be used to
intensify its capital-raising efforts.
During the past quarter, the Company started selling its products in
France through Inersis, its master distributor based in France.
In cooperation with its master distributor Inersis, GlobeeCom
International Inc. is pleased to announce that Nouvelles FrontiGeres, France's
leading tour operator and a subsidiary of TUI AG, has selected its IP
technology.
Nouvelles FrontiGeres took this step to ensure that its partners have
ongoing access to information and training, to facilitate communications from
one geographical location to another and to ensure that each member of
Nouvelles FrontiGeres is kept up-to-date on new offerings and products, in
order to better serve its customers. Among other reasons, Nouvelles FrontiGeres
chose GlobeeCom's collaboration tools and IP technology for their user-
friendliness and capacity to facilitate and enrich exchanges in a cost-
effective way.
OUTLOOK
GlobeeCom will continue to deploy its marketing program in both Europe
and Canada.
The Company is currently in negotiations to conclude strategic agreements
with European and North American service providers, software manufacturers,
distributors and partners for the distribution and marketing of
GlobeMeeting(R).
GlobeeCom will continue to focus on the international marketing of its
current technologies, while remaining on the lookout for other business
opportunities, notably with institutions in Canada and the rest of North
America.
MANAGEMENT'S REPORT
Readers will find the full management's report for the period ended
September 30, 2005, along with all information related to GlobeeCom's
operations at www.sedar.com.
ABOUT GLOBEECOM
GlobeeCom International Inc. is a company specialized in the development
of on-line software solutions. For the past 24 months, it has been positioning
itself through its subsidiary Globeecom Inc. in the market of converging
technologies, bringing together PCs and new- generation fixed and cellular
telephony via its GlobeMeeting(R) and Globee technologies.
Its mission is to market technological solutions with a view to
optimizing company-wide communications logistics over IP networks. Established
on both North American and European markets, GlobeeCom is positioning itself
as a strategic partner and service provider.
GlobeeCom is also looking for companies that are active players in the
targeted segments and that consider its collaborative software as a value-
added element in their services offerings. The Company is more especially
targeting telephone companies, Internet portals, the healthcare and education
sectors, consultants and professionals specializing in on-line learning, and
professionals in content development.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by the said forward-looking statements.
TSX Venture Exchange Inc. accepts no liability regarding the relevance or
accuracy of this Press Release.
