GSBC Ready for Public Listing in America
Reporting using the Sarbanes-Oxley accounting is no easy task Flynn said. But we are happy to comply with these new rules as we feel it gives investors more safety when they buy stock in public companies.
Bangkok, Thailand (PRWEB) January 6, 2007 -- According to Ronald Flynn, the founder of Global Satellite Broadcasting corporation (GSBC) There is anxiety and frustration in the industry of digital signage. We have been answering phone calls from both private and institutional investors scrambling to buy our stock who have been waiting for Global satellite broadcasting corporation to go public in America. It seems that more and more foreign-based investors have become very concerned after finding out that GSBC owned the smart screen technology that made FOCUS MEDIA CHINA (FMCN) a huge player in the digital signage business.
Some analysts' say what's at stake is (FMCN) stock price, market cap, and the ability to legally use the technology as no deal has been made yet. We are fulfilling orders and are installing smart screen panels on a daily basis. Since our announcement on December 26th 2006 stating that anyone using our technology would have to pay a licensing fee starting January the 1st 2007, our companies' telephones have been ringing off the hook. "We can't handle all the calls as they are 24 hours a day non stop" from advertisers and investors worldwide.
The roll out of our public company has not been easy. Our partner NETNETNET.TV has listed in America under the symbol (nnnv.pk) and in January 2007 will be listed on the Dax in Germany. Global satellite broadcasting corporation (GSBC) has taken more time to finalize its listing as the chairman of (GSBC) Greg Brown, has been following the guide lines of the Sarbanes-Oxley (SoX) law passed in 2002 to force more transparency and responsibility for public companies. The expensive and overly tiring requirements have prompted delay after delay and have cost considerably more money to list.
According to an Ohio State University study in 2005, investors are ready to pay as much as 31% more for stock in companies listed in a US exchange than those listed in places where the rules are slack Flynn said. People trust such companies because they can see what's going on in them. We want to be clear about who we are, and what we own, but most importantly how we are growing as a company!
Reporting using the Sarbanes-Oxley accounting is no easy task Flynn said. But we are happy to comply with these new rules as we feel it gives investors more safety when they buy stock in public companies. GSBC owns the patented technology being used by FMCN. Obviously worldwide patent laws are very clear about infringement and we will not allow anyone to ignore our rights as the patent holders.
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