IBII - whats currently happening - they lined up a buy of assets and went through with the deal...
from last 10QSB- filed on 11/14/03 A. MARKETING AGREEMENT
In September 2003 the Company through its wholly owned subsidiary Global Debit
Cash Card, Inc, a Nevada Corporation (GDCC) agreed to purchase from DCM the
following territories of COLORADO AND UTAH for marketing the CARDS as per this
Agreement. This will allow GDCC to be the TMR in those territories specified and
to license resellers of the CARDS. The Licensed Activated Resellers (LAR) will
be licensed through GDCC the TMR.
Then form 8-K filed on 12/11/03- asset purchase agreement
On December 9, 2003, Global Debit Cash Card, Inc. ("GDCC"), a wholly owned
subsidiary of Internet Business International, Inc., a Nevada corporation (the
"Company") entered into an Asset Purchase Agreement with Debit Card Marketing
Company, Inc., a privately held New York corporation ("DCM") to acquire certain
assets relating to the DCM business. Included among the assets were the
Anonymous Debit Cash Card, the Chex First Agreement, the Senior Plan Agreement,
shares of DCME and other DCM assets.
And from the current filings
IBII filings out today looks like they finalized that Asset Purchase Agreement
ACQUISITIONS
The following acquisitions were made during the quarter ended December 31, 2003.
In December 2003 Global Debit Cash Card, Inc a subsidiary of the Company
acquired the assets of Debit Card Marketing Company Enterprises, Inc for
60,000,000 shares of Global Debit Cash Card, Inc. which included reduction of
the note owed by the Company to $515,000 and that debit transferred as an asset
to Global Debit Cash Card, Inc. Globl Debit Cash Card, Inc. is traded over the
counter (OTC) on the Pink Sheets LLC quotation service under the symbol "GLCD".
This changed the September 2003 agreement that is listed below
In September 2003 the Company through its wholly owned subsidiary Global Debit
Cash Card, Inc, a Nevada Corporation (GLCD) agreed to purchase from DCM the
following territories of COLORADO AND UTAH for marketing the CARDS as per this
Agreement. This will allow GLCD to be the TMR in those territories specified and
to license resellers of the CARDS. The Licensed Activated Resellers (LAR) will
be licensed through GLCD the TMR.
In August 2003 the Company acquired Alpha Tooling, Inc. with 190,000 shares of
DCM Enterprises, Inc stock. As per the agreement with DCM Enterprises, Inc the
Company transferred Alpha Tooling, Inc to DCM Entreptrises, Inc. for credit
towards the debit it has with DCM Enterprises, Inc. After October 1st 2003 the
transaction was changed by agreement to an Asset assignment. The Company
assigned certain assets of Alpha Tooling for credit of $311,639 which reduced
the debt owed to DCM Enterprises, Inc from $760,000 to $448,361. The Company
retained the Alpha Tooling Corporation which had assets of $42,050 (which were
not assigned to DCM Enterprises, Inc.), and debt of $351,306
Looks like a good thing - better than if they cancelled the agreement :))
ASSET PURCHASED MOVING AHEAD- SMALL CLUES LEAD TO BIGGER ONES IMO........
EYES ON THE NEWS WIRES FOR MORE EVENTS FOR IBII:))) |
