http://yahoo.brand.edgar-online.com/...40&Type=HTM L
Everyone should read the annual rept----
http://yahoo.brand.edgar-online.com/...40&Type=HTM L ---- it is very informative--
PART II
ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.
Our common stock was formerly quoted on the OTCBB under the symbol "GETC" but was de-listed when we failed to timely file our Form 10-Q for the period ending March 31, 2006 as well as our Form 10-K for year-end 2005.
On December 26, 2006, the last reported sale prices of the common stock on the OTCPK were $0.05 per share.
As of March 31, 2006 there were approximately 104 shareholders of record of the common stock.
DIVIDEND POLICY
We have never declared or paid any cash dividends on our common stock. We currently expect to retain future earnings, if any, to finance the growth and development of our business.
RECENT SALES OF UNREGISTERED SECURITIES
We have sold 16,500,000 shares in a private placement to Dr. Arthur Gottmann, for $2.2 Million, and the Company has received $1.2 million of these funds, with a note for the remainder of the $1.0 Million to be paid by the end of 2006. These shares are subject to the 5 year lock-up agreement, as described herein.
On August 1, 2005, we entered into an agreement (amended and restated on May 12, 2006) with Richcorp, Inc. (“Richcorp”), pursuant to which we purchased certain assets owned by Richcorp. As consideration for the asset purchase we issued ten thousand (10,000) shares of our Class A Convertible Preferred Stock (the “Preferred Shares”) to Richcorp with stock conversion exchange dates of August 1, 2006, August 1, 2007 and August 1, 2008. The preferences relating to the Preferred Shares are summarized on each certificate representing such shares and entitle Richcorp to convert the Preferred Shares to 10.5 million (10,500,000) restricted shares of our common stock (the “Minimum Shares”) and up to a maximum of 21 million (21,000,000) restricted shares of our common stock (the “Maximum Shares”) based upon the EBITDA criteria set forth below. Conversion of the Preferred Shares may be deferred at the option of the Richcorp and its principals until November 1, 2007 or November 1, 2008. As of the execution of the Agreement, 3,500,000 restricted shares of the Buyer’s common stock (⅓ of the Minimum Shares) were deemed “earned” and are available for conversion, as referenced above. The balance (7,000,000 shares of our common stock) of the Minimum Shares shall be deemed earned when EBITDA for RichCorp equals twenty million dollars ($20,000,000.00) per year. On a pro rata basis, shares of our common stock above the Minimum Shares and up to the Maximum Shares shall be deemed earned when EBITDA for RichCorp exceeds twenty million dollars ($20,000,000.00) per year. The Maximum Shares shall be deemed earned when EBITDA for RichCorp equals forty million dollars ($40,000,000.00) per year. The total number of shares of our common stock shall not exceed 21,000,000 under the conversion terms of this paragraph or the preferences of the Preferred Shares.
On November 1, 2005, we entered into an agreement (amended and restated on May 12, 2006) with Richcorp, Inc. (“Richcorp”), pursuant to which we purchased enzyme technology referenced herein that was owned by Richcorp. As consideration for purchase of the enzyme technology, we issued ten thousand (10,000) shares of our Class A Convertible Preferred Stock (the “Preferred Shares”) to Richcorp with stock conversion exchange dates of November 1, 2006, November 1, 2007 and November 1, 2008. The preferences relating to the Preferred Shares are summarized on each certificate representing such shares and entitle Richcorp to convert the Preferred Shares to 10.5 million (10,500,000) restricted shares of our common stock (the “Minimum Shares”) and up to a maximum of 21 million (21,000,000) restricted shares of our common stock (the “Maximum Shares”) based upon the EBITDA criteria set forth below. Conversion of the Preferred Shares may be deferred at the option of the Richcorp and its principals until November 1, 2007 or November 1, 2008. As of the execution of the Agreement, 3,500,000 restricted shares of the Buyer’s common stock (⅓ of the Minimum Shares) were deemed “earned” and are available for conversion, as referenced above. The balance (7,000,000 shares of our common stock) of the Minimum Shares shall be deemed earned when EBITDA for RichCorp equals twenty million dollars ($20,000,000.00) per year. On a pro rata basis, shares of our common stock above the Minimum Shares and up to the Maximum Shares shall be deemed earned when EBITDA for RichCorp exceeds twenty million dollars ($20,000,000.00) per year. The Maximum Shares shall be deemed earned when EBITDA for RichCorp equals forty million dollars ($40,000,000.00) per year. The total number of shares of our common stock shall not exceed 21,000,000 under the conversion terms of this paragraph or the preferences of the Preferred Shares.
IT WILL BE VERY DIFFICULT FOR THIS COMPANY TO BE "TAKEN OVER"--- LIKE IMPOSSIBLE....
MARV
