FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
Report (date of earliest event reported): August 18, 2006
GLOBETEL
COMMUNICATIONS CORP.
(Exact
Name of Registrant as Specified in Its Charter)
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Delaware
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0-23532
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88-029216
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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9050
Pines Blvd., Suite 110, Pembroke Pines, FL
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33024
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: 954-241-0590
Former
Name or Former Address, if Changed Since Last Report)
Check
the
appropriate box below if the Form 8-K filing is intended to
simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (See General Instruction A.2 below):
o
Written
communications
pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17
CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d- 2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e- 4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item
3.01 Notice
of Delisting
On
August
18, 2006 the Company received notice from the Amex Staff updating and
supplementing its letter dated July 17, 2006 concerning its allegations that
the
Company no longer complies with Exchange's continued listing standards. In
addition to the alleged violations set forth in its July 18, 2006 letter the
Staff alleges violations of the following sections of the Amex Company Guide:
120 (Review of Related Party Transactions), 127 (Discretionary Authority of
the
Amex), 134 (Filing Requirements with a reference to Section 1101), 402
(Explanation of Exchange Disclosure Policies), 403 (Content and Preparation
of
Public Announcements), 404 (Exchange Surveillance Procedures), 921 (Notification
of the Exchange Upon Change in Officers and Directors), 1002(d) and (e) (Failure
to Comply with Listing Agreement, Any Other Event That Would Warrant Delisting
[referencing Sec 127 listed above]), 1003(d) (Failure to Comply with Listing
Agreement and/or SEC Requirements) and 1101 (General Filing Requirements).
The
Company has appealed this determination and requested a hearing before a
committee of the Exchange. The Company was notified by letter dated August
18,
2006 that its appeal will be heard by the Listing Qualifications Panel on
September 28, 2006.
Item
9.01 Financial
Statements and Exhibits
(c) Exhibits
99.1 Press release dated August 23, 2006
SIGNATURE
Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
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GlobeTel
Communications Corp. |
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| Dated: August
23, 2006 |
By: |
/s/
Timothy M. Huff |
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Timothy
M. Huff
Chief
Executive Officer
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