EXH 10.50

April 30, 2003


Phone1, Inc., Phone1Globalwide, Inc. and
Globaltron Communications Corporation
100 North Biscayne Blvd, Suite 2500

Miami, Florida 33132


Ladies and Gentlemen:

     We refer to the Loan Agreement (the "Loan Agreement") dated February 17,
2003, 2002, among Phone1, Inc. ("Phone1"), Phone1Globalwide, Inc. ("Global"),
Globaltron Communications Corporation ("GCC") and GNB Bank Panama S.A. ("GNB").
Capitalized terms not otherwise defined herein shall have the meaning ascribed
to them in the Loan Agreement.

     We hereby advise you that we are not exercising our right to call an
earlier maturity of the Loan based upon the failure of Phone1, Global or GCC to
receive prior to April 30, 2003, a loan from any person in an amount of at least
US$5,000,000, as provided in Section 2.8 of the Loan Agreement; provided
however, that GNB reserves the right to call an earlier maturity of the Loan
under Section 2.8 of the Loan Agreement in the event that prior to July 31,
2003, neither Phone1, Global nor GCC receives a loan from any person in an
amount of at least US$5,000,000.

     Except as provided herein, this letter agreement shall not have any effect
on any other term or provision of the Loan Agreement, which shall continue to
remain in full force and effect in accordance with its terms.

     This letter agreement shall be governed by and construed in accordance with
the laws of the State of New York, without regard to conflict of law principles.
In the event of any claim or dispute in respect to the subject matter hereof or
the rights or obligations of the parties hereto, all actions or proceedings must
be exclusively brought in the United States District Court for the Southern
District of New York or if such Court lacks subject matter jurisdiction, in the
Supreme Court of the State of New York, County of New York. Each party waives
the right to object to the exclusive jurisdiction of either of such Court or the
right to object to the venue of such Court or that such Court is an inconvenient
forum. Nothing in this letter agreement shall be deemed to constitute a general
consent to service of process or the in personam jurisdiction of the United
States District Court for the Southern District of New York, County of New York
or the Supreme Court of the State of New York for legal actions or proceedings
not related to the transactions contemplated by this letter agreement.

     This letter agreement is binding upon, and shall inure to the benefit of
the parties hereto and their respective heirs, executors, administrators,
successors and assigns.

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         If you are in agreement with the terms of this letter agreement, please
so indicate by signing in the space provided below.

                                          Very truly yours,


                                          GNB BANK (PANAMA) S.A.


                                          By:  /s/ Camilo Verastegui
                                          Name:  Camilo Verastegui
                                          Title:  General Manager

Agreed and acknowledged:


PHONE1, INC.

By: /s/ Dario Echeverry
Name:  Dario Echeverry
Title: Chief Executive Officer

PHONE1GLOBALWIDE, INC.

By: /s/ Dario Echeverry
Name:  Dario Echeverry
Title: Chief Executive Officer

GLOBALTRON COMMUNICATIONS CORPORATION

By: /s/ Dario Echeverry
Name:  Dario Echeverry
Title: Chief Executive Officer