-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WtTvVnhsi1SxQzQqwh8BHlmvQYB5SD8RD5EgDUqHua+G2M/JePB3mcMIoy4Ubcza Q4g5rb9DiuzEYmdEsORGPQ== 0001270974-06-000199.txt : 20061113 0001270974-06-000199.hdr.sgml : 20061110 20061113115926 ACCESSION NUMBER: 0001270974-06-000199 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20061113 DATE AS OF CHANGE: 20061113 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Global Telecom & Technology, Inc. CENTRAL INDEX KEY: 0001315255 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 202096338 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80681 FILM NUMBER: 061206827 BUSINESS ADDRESS: STREET 1: 8484 WESTPARK DRIVE STREET 2: SUITE 720 CITY: MCLEAN STATE: VA ZIP: 22102 BUSINESS PHONE: (703) 442-5500 MAIL ADDRESS: STREET 1: 8484 WESTPARK DRIVE STREET 2: SUITE 720 CITY: MCLEAN STATE: VA ZIP: 22102 FORMER COMPANY: FORMER CONFORMED NAME: Mercator Partners Acquisition Corp. DATE OF NAME CHANGE: 20050124 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANNELL CAPITAL LLC CENTRAL INDEX KEY: 0001058854 IRS NUMBER: 943366999 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4158358300 MAIL ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: CANNELL J CARLO DBA CANNELL CAPITAL MGMT DATE OF NAME CHANGE: 19980330 SC 13D/A 1 mercator13damendmentno1.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* Global Telecom & Technology, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class Securities) 378979108 ------------------------------------ (CUSIP Number) J. Carlo Cannell Cannell Capital, LLC, P.O. Box 3459, 240 E Deloney Ave., Jackson, WY 83001 (415) 835-8300 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 13, 2006 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosure provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a current valid OMB control number. CUSIP No. 378979108 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). J. Carlo Cannell - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization USA.......................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 6,173,481 .............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 0............................. -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 6,173,481..................... ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 0.......................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 6,173,481 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 41.5% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IN.................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- Item 5 Interest in Securities of the Issuer (a) Based on information provided by the Company, there were 13,030,100 shares of Common Stock outstanding as of October 13, 2006. As of that date, Cuttyhunk owns 0 shares of Common Stock and 0 warrants, or 0% of the shares outstanding, Anegada owns 1,859,200 shares of Common Stock and 764,400 warrants, or 17.6% of the shares outstanding, TEC owns 0 shares of Common Stock and 0 warrants, or 0% of the shares outstanding, Tonga owns 2,325,881 shares of Common Stock and 1,224,000 Warrants, or 23.9% of the shares outstanding, Tristan owns 0 shares of Common Stock and 0 warrants, or 0% of the shares outstanding, and Kauai owns 0 shares of Common Stock and 0 warrants, or 0% of the shares outstanding. Mr. Cannell has the sole power to vote and to direct the disposition of all shares of Common Stock and all warrants owned by each of the Funds. Accordingly, Mr. Cannell is deemed to beneficially own a total of 6,173,481 shares of common stock, or 41.5% of the shares deemed outstanding as of October 13, 2006. (b) Mr. Cannell has the sole power to vote and to direct the disposition of all shares of the Company's common stock owned by each of the Funds. (c) Since the filing of the Schedule 13D as of October 12, 2006, the only transactions in shares of the Company's common stock, or securities convertible into,exercisable for or exchangeable for such shares, by the Reporting Person or any person or entity controlled by it or any person or entity for which it possesses voting or investment control over the securities thereof, were the purchase of Company warrants, units and shares of common stock as detailed in the following table (presented on an as-converted basis). - -------------------------------------------------------------------------------- Party Date Amount Price per Where & How Bought Share Effected (Sold) - -------------------------------------------------------------------------------- TONGA 10/13/2006 243,300 0.18 Open Market TONGA 10/13/2006 101,600 0.18 Open Market TONGA 10/13/2006 47,300 0.18 Open Market TONGA 10/13/2006 47,300 0.18 Open Market TONGA 10/13/2006 2,231,281 5.10 Open Market TONGA 10/13/2006 94,600 5.10 Open Market ANEGADA 10/13/2006 63,400 0.18 Open Market ANEGADA 10/13/2006 151,900 0.18 Open Market ANEGADA 10/13/2006 29,600 0.18 Open Market ANEGADA 10/13/2006 29,600 0.18 Open Market ANEGADA 10/13/2006 1,800,000 5.10 Open Market ANEGADA 10/13/2006 59,200 5.10 Open Market (d) Not Applicable (e) Not Applicable Date: November 13, 2006 J. Carlo Cannell /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell -----END PRIVACY-ENHANCED MESSAGE-----