GLTI President, Jonathon Bentley-Stevens said, "The equity exchange agreement called for the issuance of 1 million shares of GLTI common stock to be issued to FEVI in exchange for 5.
FEVI is preparing to file an amendment to its September 10QSB which will show the revenue from phone cards sales for the last two years, which combined, is expected to exceed $100 million.
Michael Fletcher, Chairman of FEVI stated, "Not only will our new relationship with GLTI provide FEVI with additional revenues without any additional investment in existing administration overhead, we are extremely pleased with the faith that GLTI's management has given us in taking this significant equity position with our Company.
FEVI just signed a distribution agreement with Global TeleMedia International (OTCBB:GLTI), a California-based developer of interactive software for complex Smart-e-Card and E-commerce solutions, to distribute its BentleyTel Cards through its existing nationwide distribution network.
Partnering with a corporation with the depth of industry experience and strong nationwide distribution such as FEVI should mean immediate revenues for the venture," stated Jonathon Bentley-Stevens GMTI's President.
FEVI management is dedicated to increasing its shareholder value as it expands its business plan.
OTCBB:FEVI), today announced that it has entered into an equity participation agreement with Global Telemedia International (OTCBB:GLTI) wherein GLTI has acquired through a stock exchange agreement with FEVI an approximately 9% equity stake in FEVI.
This move came after FEVI
and GLTI announced on December 5, 2000 an international joint venture to distribute the GLTI Bentley Tel smart e-Card.
Pulmonary function tests were as follows: FVC, 1970 mL (72%); FEVI
, 930 mL (40%); FEV1/FVC, 47%; residual volume (RV), 2780 (165%); the ratio of residual volume to total lung capacity (RV/TLC), 52%.
Fletcher, Chairman of the Board of FEVI
and Founder and Chairman of SCI, summarized, "We are progressing rapidly in taking advantage of our new status as a public company.
The American Thoracic Society (ATS) standards and guidelines indicate that the FEVI
is the only reliable parameter for observing changes is airway flow rate and that FEF25-75 is an unreliable measurement because of device and technologist variation.