Global Technologies Group, Inc. (GTGP)

[236T568]

PLAYER ONE, again, the Fallacaros did NOT provide GTGP with over $2.0 million in cash

instead, they exchanged $1.5 million of worthless assets to GTGP for a $1.5 million note secured by all the assets of GTFP.

here it is, directly from the SEC filings of GTGP:

http://www.sec.gov/Archives/edgar/data/1308841/000119312504205929/dsb2.htm

We have also issued a promissory note in the amount of $1.5 million to our President, Corinne Fallacaro. The note pays interest at 6% per annum and is payable upon demand and is secured by all of our assets. The promissory note was issued as consideration for the transfer of assets represented by a Bill of Sale to the Company but we are not representing in any way that it is indicative of the value of the assets.

shortly therefafter, the auditors wrote down the $1.5 million in assets from the GTGP balance sheet, but allowed for the Fallacaros to keep the $1.5 million owed to them by GTGP, fully secured by all the assets left in the company.

This is what scam company do

no different, have seen in over and over and over again