Global Peopleline Telecom Inc (GREY:GPPL)

"On August 15, 2006, the Company’s Debentures in the principal amount of $3,350,000 matured. While the Company had sufficient cash on hand to repay the Debentures in their entirety with accrued interest, the Company's operating subsidiary in China, Quicknet was denied the ability to withdraw funds from China...."

"Upon the Liquidation of the PRC Subsidiaries and the repayment of outstanding Debentures, the Company does not know whether the PRC subsidiaries will continue to operate as subsidiaries of the Company in new entities, although it is not currently expected they will. " (10QSB/A, For the quarterly period ended: March 31, 2007 )

Last updated March 19, 2008


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