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 |
