Guangzhou Global Telecom (GZGTD) research, news, and more from GeoInvesting

Company description

Fri, 17 Apr 2009 04:00:00 GMT

Guangzhou Global Telecom, Inc. is a U.S. company that is publicly traded on the NASD OTC_BB under the ticker symbol GZGT.

Guangzhou Global Telecom, Inc. operates in China through Guangzhou Global Telecom Co., Ltd., a wholly owned subsidiary of Global Telecom Holding Limited, which is a wholly owned subsidiary of GZGT.

The company serves as a major distribution agent for China Telecom, China Unicom, and China Mobile in Guangdong Province. Guangzhou Global Telecom also aims to be the largest sales and distribution center of mobile phones, mobile phone parts and cards in China and maintains cooperative distribution relationships with Nokia, Rowa, Gionee, Konka, among others.

(Source: Company Website)

Comments & Business Outlook

Tue, 23 Apr 2013 04:00:00 GMT

China Teletech Holding, Inc.
Consolidated Statements of Operations
For the Years Ended December 31, 2012 and 2011
(Stated in US Dollars)

	Note
			12/31/2012		12/31/2011
Sales		$	26,620,278	$	18,847,061
Cost of sales			25,889,207		18,426,846
Gross profit			731,071		420,215

Operating expenses			4,646		-
Administrative and general expenses			1,273,089		806,388
Total operating expense			1,277,735		806,388

Income (Loss) from Operations			(546,664)		(386,173)

Gain on disposal of a subsidiary			466,555		-
Other income			152,293		201,151
Interest income			65		15,461
Other expenses			(533)		(120,850)
Interest expense			(327)		-
Income before taxation			71,389		(290,411)
Income tax			17,847		(57,713)
Net Income (Loss)		$	53,542	$	(348,124)
Extra-Ordinary Gain on Forgiveness of Debt, Net of Tax	8		1,487,083		-
Net Earning After Tax			1,540,625		(348,124)

Other comprehensive income:
Foreign currency translation change			(375,429)		21,356
Comprehensive income:			1,165,196		(326,768)

Net income attributable to:
-minority interest		$	38,456	$	61,161
-the Company			1,502,169		(409,285)
		$	1,540,625	$	(348,124)
Earnings Per Share
Basic		$	0.02	$	(0.02)
Diluted		$	0.02	$	(0.02)

Weighted Average Shares Outstanding
-Basic (adjusted for 1 for 10 reverse stock split)			72,571,557		15,351,147
-Diluted (adjusted for 1 for 10 reverse stock split)			72,571,557		15,351,147

Resolution of Legal Issues

Fri, 02 Dec 2011 05:00:00 GMT

On November 28, 2011, Guangzhou Global Telecom, Inc. (the “Company”) entered into a settlement and amendment agreement (the “Settlement Agreement”) with Enable Growth Partners, LP, Enable Opportunity Partners, LP and Pierce Diversified Strategy Master Fund LLC (collectively, the “Holders”), to settle certain matters.