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Company Profile
GlobalTel is a service of Interactive Media Technologies, Inc (IMT). IMT was founded in June of 1991 as a research and development company, based in Boca Raton, Florida. It has invested more than one million dollars in research and development of computer telephony call switching platforms for the telecommunications and music industries. Today, IMT is an international long-distance (callback) telecommunications services company. The Company stock is privately held by 227 shareholders.
In April of 1994, while still focusing on development of computer-telephony products, the Company acquired GLOBALTEL, a start-up callback operation founded by James Artimez, now Vice President, GlobalTel Division.
In October of 1995, the Company shifted its focus from the research and development of innovative computer-telephony hardware and software, to the marketing of international callback services. Its present primary business is the exporting of US dial tone to customers in over (95) countries. IMT's GlobalTel Division provides international callback service and operates in (4) languages.
GlobalTel is marketing it's services through sales organizations in more than 75 countries and serves customers in more than 200 countries. Among GlobalTel's customers are ambassadors, trade promotion agencies, international organizations, executives, professionals, import-export companies, and others.
In june of 1997, the Company was ranked as number (3) by the South Florida Business Journal, in its annual listing of the "Fastest Growing High-Tech Companies in South Florida." As the article points out, IMT's growth rate was 443 percent, with revenues increasing from $800,000 for 1995 to $1,900,000 for 1996. The Company was also ranked as number three in the 1997 Fast Tech 40 List.
There is a market for GlobalTel's callback services in almost every country. The current boom in international trade and the growing demand for low international long distance rates fuel the rapid growth rate of GlobalTel as well as the growth of its competitor callback companies, so that the callback industry is now among one of the fastest growing industries in the US. The market is huge with revenues already estimated at over $1 billion a year, even though the industry is barely five years old.
Telecommunications is one of the largest industries in the world, along with oil, insurance, and pharmaceuticals. It is estimated that the world telecom revenues were $800 billion in 1996 and will grow 50 percent, to $1.2 trillion by the year 2000. U.S. companies control about 30 percent of the world trade in telephone services and almost all of the Callback industry's portion of that.
GlobalTel's Market is Created by Foreign Governments. Despite the dismal failure of the Communist, Marxist, and Socailist ecinomies, almost every country, either owns or controls its telecommunications industries. Competition is not allowed and telephone rates are high. In the US, competition and deregulation result in the lowest telephone rates in the world. GlobalTel exports these low US rates to every country.
GlobalTel operates under the approval of the U.S. Federal Communications Commission (FCC) with a section 214 license. The use of callback switching technology began in 1991, but was not licensed by the FCC until 1995. The sale and use of International callback does not violate any US law, nor any International Law or Treaty.
GlobalTel Is an Export Company, and enjoys the assistance of the US Government agencies that encourage exports. US export companies are assisted because exports improve the balance of trade.
Some Countries Have Been Difficult to Market Because of Government Interference. But, on February 15, 1997, an international accord, negotiated under auspices of the WORLD TRADE ORGANIZATION (WTO), was reached between more than 60 countries representing more than 95 percent of the world's telephone traffic. They agreed to open their markets to competition, but did not agree to reduce tariffs. US trade officials were instrumental in getting this landmark accord signed. One US trade official gave some of the credit for the success to the US callback industry. The official is quoted as saying, "The callback phenomenon is tremendously important in terms of where we got. It's proof that technological improvements will defeat regulatory structure".
In October of 1997, the Company began preparations to offer telephone debit calling cards, The technical preparations are now in place and licensing procedures are well under way. Total gross revenues from debit card sales are projected to be $5,160,000 for 1998.
IMT Has Recently Acquired New Switching Equipment. Additional multilingual personnel and new advanced equipment and operating systems have been added.
The Company has had two years of rapid growth and is well positioned to continue this expansion. Projected gross revenue for fiscal year 1998 is $9,120,000.