Washington, D.C. 20549

                                    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): May 4, 2007

                          GLOBETEL COMMUNICATIONS CORP.
             (Exact name of registrant as specified in its charter)

       Delaware                         0-23532                 88-0292161
(State or other jurisdiction          (Commission             (IRS Employer
        of incorporation)             File Number)          Identification No.)

101 NE 3rd Ave., Suite 1500, Fort Lauderdale, FL                    33301
   (Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code:    (954) 332-3759
              (Former name or former address, if changed since last

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):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)
|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))
|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review.

On May 4, 2007, the Board of Directors of GlobeTel Communications Corp. (the
"Company"), in consultation with its outside accounting consultant, has
determined that the Company will restate its financial statements for the years
ended 2004 and 2005, as reported on Form 10-K and for the interim periods in
fiscal 2005 and the first two fiscal quarters of 2006 for which the Company
filed reports on Form 10-Q. Accordingly, the Company's prior financial
statements for such periods should no longer be relied upon. The Company has not
discussed this issue with its independent auditors.

It is anticipated that certain of the revenue attributed to the Company's
Centerline Communications LLC subsidiary will be restated.


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                  GlobeTel Communications Corp.

Date      May 8, 2007                                     /s/ Peter Khoury
                                                          Peter Khoury, CEO