SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Hackman Rhodric C (Last) (First) (Middle) 11911 FREEDOM DRIVE SUITE 590 (Street) RESTON VA 20190 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Global Telecom & Technology, Inc. [ MPAQ ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 10/19/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/19/2006		P		1,200	A	(1)	10,025	I	By Hackman Family Trust(2)
Common Stock	10/19/2006		P		3,000	A	(3)	18,900	I	By Mercator Capital L.L.C.(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class W warrants	$5	10/19/2006		P		1,700		10/15/2006	04/10/2010	Common Stock	1,700	$0.3643	496,700	I	By Hackman Family Trust(2)
Class Z warrants	$5	10/19/2006		P		12,000		10/15/2006	04/12/2012	Common Stock	12,000	$0.4196	507,000	I	By Hackman Family Trust(2)
Class W warrants	$5	10/19/2006		P		3,000		10/15/2006	04/10/2010	Common Stock	3,000	(1)	499,700	I	By Hackman Family Trust(2)
Class Z warrants	$5	10/19/2006		P		3,000		10/15/2006	04/12/2012	Common Stock	3,000	(1)	510,000	I	By Hackman Family Trust(2)
Class W warrants	$5	10/19/2006		P		4,100		10/15/2006	04/10/2010	Common Stock	4,100	$0.3643	337,850	I	By Mercator Capital L.L.C.(4)
Class Z warrants	$5	10/19/2006		P		28,000		10/15/2006	04/12/2012	Common Stock	28,000	$0.4196	361,750	I	By Mercator Capital L.L.C.(4)
Class W warrants	$5	10/19/2006		P		7,500		10/15/2006	04/10/2010	Common Stock	7,500	(3)	345,350	I	By Mercator Capital L.L.C.(4)
Class Z warrants	$5	10/19/2006		P		7,500		10/15/2006	04/12/2012	Common Stock	7,500	(3)	369,250	I	By Mercator Capital L.L.C.(4)

Explanation of Responses:

1. The reported securities are included within 600 Series A Units purchase by Hackman Family Trust for $11.1833 per Unit. Each Unit consists of two shares of common stock, five Class W warrants and five Class Z warrants.

2. The Reporting Person and his spouse are the trustees of the Hackman Family Trust, the beneficiaries of which are members of the Hackman family. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

3. The reported securities are included within 1,500 Series A Units purchase by Mercator Capital L.L.C. for $11.1833 per Unit. Each Unit consists of two shares of common stock, five Class W warrants and five Class Z warrants.

4. Mercator Capital L.L.C. is an affiliate of the Reporting Person. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Remarks:

	Christopher A. Davis, Attorney-in-fact	10/23/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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