Conversion Notice by Hispanic Telecommunications Holding S.A. for Loan Agreement with GNB Bank Panama S.A. and Phone1Globalwide, Inc.

Summary

Hispanic Telecommunications Holding S.A. is exercising its right under a Loan Agreement originally dated November 26, 2002, with GNB Bank Panama S.A., Phone1, Inc., Phone1Globalwide, Inc., and Globaltron Communications Corporation. By this notice, Hispanic Telecommunications Holding S.A. converts $5,000,000 of the loan principal into 12,500,000 shares of common stock in Phone1Globalwide, Inc. The shares are to be issued in its name and delivered as directed. This action is based on rights assigned to Hispanic Telecommunications Holding S.A. on September 30, 2003.

EX-10.3 5 ###-###-####.txt CONVERSION NOTICE The undersigned, Hispanic Telecommunications Holding S.A. pursuant to the provisions of the Loan Agreement, dated as of November 26, 2002 entered into among GNB Bank Panama S.A. (the "Lender"), Phone1, Inc., Phone1Globalwide, Inc. ("Global") and Globaltron Communications Corporation (the "Loan Agreement") and assigned to the undersigned on September 30, 2003, hereby exercises its right to convert the Note and the Loan (as such terms are defined in the Loan Agreement) and hereby surrenders a principal amount of the Note and the Loan equal to $5,000,000, entitling the undersigned to receive 12,500,000 shares of the common stock of Global, par value .001 per share, and requests that the certificates for such shares be issued in the name of Hispanic Telecommunications Holding S.A. and delivered to the undersigned as indicated by it to the transfer agent. Dated: September 30, 2003 Hispanic Telecommunications Holding S.A. ---------------------------- By: Luxenbourg Corporation Company SA, as Managing Director By: /s/ Valerie Ingelbrecht and By: /s/ Guillaume Norkin-Saudax ------------------------------------ Name: Valerie Ingelbrecht and Guillaume Norkin-Saudax