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>>>> INVESTORS WARNING on GTMM.... GTMM is clearly a reincarnation of the well known POS, FHTV, that was run into the ground by its CEO, Bill Fisher and company... Lots of Plans and Promises BUT Fisher is allegedly a CON-MAN and GTMM definitely looks like another POS... finance.yahoo.com I suggest a Mass Complaint to enforcement@sec.gov or Help@sec.gov from all the investors who got caught in the FHTV SCAM, to ensure that History doesn't repeat itself with GTMM.... JMHO, F. Goelo + + + biz.yahoo.com July 03, 2001 GTM HOLDINGS INC (GTMH.OB) form 8-K ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS On June 12, 2001, GTM Holdings, Inc. ("Company") effected the issuance of 9,000,000 shares of its common stock to acquire American Overseas Investment Co., a corporation formed under the laws of Macau ("AOI"), as a wholly owned subsidiary. The shares were issued in equal portions to the former stockholders of AOI, William A. Fisher and Marian Yu Fisher, and represent approximately 70.4% of the issued and outstanding common stock of the Company immediately following the acquisition after giving effect to the Company's share distribution pursuant to which the stockholders of the Company received 12 shares of common stock for each share outstanding on June 12, 2001. In connection with the transaction, the former directors of the Company resigned concurrently with the appointment of Marian Yu, Tam Mei I, and Brian Murphy as directors of the Company. The board of directors also appointed as new officers appointed officers Peter Saltz as President, Tam Mei I as Vice President of Administration and Secretary, and Melissa Yang as Chief Financial Officer. As of June 13, 2001 there are 12,778,034 shares of the Company's common stock outstanding. The purchase price was determined through arms-length negotiations between the Company and AOI on the basis of the net assets of AOI and the business prospects of AOI. None of the stockholders, directors or executive officers of AOI prior to the acquisition were affiliated or associated with the Company or its affiliates prior to the acquisition. AOI has acquired certain contractual rights to produce and air a home shopping program on Sun Television in China and Southeast Asia. Following the acquisition the Company will pursue through its newly acquired subsidiary development of this business. Disclaimer: This is only my opinion, not a recommendation and no responsibility is accepted for errors or omissions... Potential investors should carry out extensive Due Diligence and only invest what they can afford to lose... JMHO, F. Goelo + + + | ||||||||||||
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