Avalon Development Enterprises Inc.

As of March 27, 2007, Avalon Development Enterprises Inc. was acquired by Global Telecom Holdings, Ltd. in a reverse merger transaction. Avalon Development Enterprises, Inc. engages in the acquisition and development of real estate properties. It also provides ancillary property management products and services, such as cleaning and maintenance support services and facilitating equipment leasing. The company primarily focuses on the acquisition of small commercial buildings that range in size from 2,500 square feet to 3,000 square feet. Avalon Development Enterprises was incorporated in 1999 and is based in St. Petersburg, Florida.