Golden Gate Partners Inc. (fka GNGT)

[Renee]

GNGT registration revoked:

https://www.sec.gov/litigation/opinions/2021/34-91562.pdf

[Renee]

GNGT SEC Suspension for severely delinquent Financials:

https://www.sec.gov/litigation/suspensions/2020/34-87950.pdf

Order:

https://www.sec.gov/litigation/suspensions/2020/34-87950-o.pdf

Admin. Proceeding:

https://www.sec.gov/litigation/admin/2020/34-87949.pdf

[Renee]

Golden Gate Homes Inc. changed to Golden Gate Partners Inc.:

http://www.otcbb.com/asp/dailylist_detail.asp?d=01/07/2014&mkt_ctg=NON-OTCBB

[NVRWRONG]

Getting some action the last few days Weeeeee.

[supraman1993]

I don't want to read, or understand all the legal crap. I knew about the reverse split and name change. and it seemed to go through as my account holdings changed 35-1 and ticker to GNGT. this morning I have the original share count and a ticker JKAKXZ with NO ASK or BID

[NVRWRONG]

whats this.http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=7123389&companyid=675133&ppu=%252fdefault.aspx%253fcik%253d1328208

[supraman1993]

what the hell is going on now jkakxz???

[supraman1993]

Now we need NEWS, the float has to next to nothing now, some pressure it should fly. IMO

[NVRWRONG]

Now what?

[The Rainmaker]

1 for 35 R/S and name change to Golden Gate Homes.

In addition, the Reverse Stock Split would permit the Company to issue approximately 596,351,487 additional shares of Common Stock, compared to an additional 472,302,044 shares of Common Stock that could be issued now.

After the completion of the actions described above, the Board of Directors intends to pursue the third purpose for which additional authorized but unissued shares could be used. This third purpose is a major capital raising transaction. As stated above, the Company is currently in the very early stages of attempting to raise funds.

* to change the name of the Company to "Golden Gate Homes, Inc." (the "Corporate Name Change Amendment"); and

* to effect a 1-for-35 reverse stock split (the "Reverse Stock Split") of the Company's Common Stock, $.0001 par value per share ("Common Stock"), in which every thirty-five shares of Common Stock outstanding as of the effective date of the amendment will be converted into one share of Common Stock; provided, however, that all fractional shares will be rounded up to one whole share (the "Reverse Stock Split Amendment");

[B7$4]

Forms DEF 14A and SC 14F1 just filed on pinksheets.com

[jmurfk]

Form 3s

[AliAngel]

i just saw them and it is friday were they all sneak the rm fillings in. lol looking for the other four to file today and one to go active with there website also. huge moves on the little dog in volume today also. hint hint.

[jmurfk]

Bunch of filings out on this one.

[AliAngel]

JKAK - JK ACQUISITION CORP (OTCBB)

Date Open High Low Last Change Volume % Change
01/12/10 0.0600 0.0600 0.0431 0.0431 -0.0169 59100 -28.17%


Composite Indicator
Trend Spotter TM Buy

Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold

Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 101235

Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy

Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 46518

Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy

Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 39141

Overall Average: 96% - Buy

Price Support Pivot Point Resistance

0.0431 0.0318 0.0487 0.0656

[AliAngel]

[AliAngel]

Thanks Rain that works and I will hold a couple there in case it does exceed the five right after.

[The Rainmaker]

The warrants have a $5.00 exercise price and expire in April.

Each warrant entitles the holder to purchase from us one share of common stock at an exercise price of $5.00 commencing the later of the completion of a business combination or April 11, 2007. Our warrants will expire at 5:00 p.m., New York City time, on April 10, 2010.

The stock would need to be .15 pre split to be over $5.00 after the 1 for 35 R/S.

[AliAngel]

If I get a chance but I did not see any mention of them cancelling them or any change to there status in the fillings.
They are also attaching the news pr too them and still trading at .001 a share.

[Brick]

I am not sure about the warrants through the split. I didn't really concentrate on these when I was doing my analysis. That is a good question though. Perhaps you can call the CEO and let us know?

[AliAngel]

Brick i thank you for the excellent assessment of this split and I still have one lingering question I did not find in the 14 reading.
That is the warrants and the effect on those after the split.
I have pruchased half my money in shares here and half in the warrants as I did not see were or how they would be changed thru the commons reverse split.
If you know differently or feel this is a safe way to work thru this split let me know. Thanks Dave
JKAKW

[Brick]

JKAK, my assessment

I've reviewed the recent filing by JKAK. Normally, a reverse stock split is not viewed favorable by shareholders. However, in this case, the company's management has indicated that it will be doing this in good faith. Many times, we see companies reverse split, only to fully dilute the company, and issue another reverse split and start the process all over again. Hence, this is where we hear the term, "Rinse, repeat."

By good faith, I mean that the company will be looking at entering several things into the equation with the reverse split:

First, the company's beneficial shareholders (96.6%) will be returning post-split 3,257,858 shares (equivalent to 114,025,030 of their 123,210,688 pre-split shares) to the company's treasury.

Second, the company has indicated that they will be raising $687,500 by issuing 1,926,000 post-split shares for "seed" money, which probably means an institutional investor or equivalent. I believe that this relationship is probably a done deal, since the stated (odd) number of shares and money has been disclosed.

Third, the company has indicated that it will be issuing "3,921,000 post-split shares of Common Stock to key employees, consultants and persons with whom the Company may enter into contractual relationships." And the company went on to say that these shares will not "vest" until stated goals or provision of services are completed over a period of time. So, equity is used instead of cash for services to be rendered, and the shares (possibly warrants?) will not be in the initial float due to some type of restriction, as in not vested.

To sum this up, the share structure before and after are as follows:

Before split
O/S 127,697,956
Beneficial ownership 123,210,688
Float 4,487,268

After split
O/S 6,237,722
New investor(s) 1,926,000
Restricted 3,921,000
Beneficial ownership 262,447**
Float (O/S minus restricted & Ben. Ownership & new investor) 128,275
Possible float (remove new investor) 2,054,275


Now the big question... Where do we go from here? I am very curious about this company. As many of you know, I do have a position in this company. From the items discussed above and the forward looking details disclosed in the filing, I think the company not only plans to do some big things, they evidently have several things in place.

Also, notice the filing is called a PRE14A Proxy Statement that not only outlines the split and share structure, but also include future plans post split. I find the Proxy Statement a pleasant surprise because the company did not have to "ask" the shareholders to do anything. The new beneficial owners, these same people who own 96.6% could have made a decision to do whatever they wanted over a cup of coffee at McDonald's. The fact that they chose to disclose this information beforehand gives me great confidence that the company wishes to include all shareholders in the future of the company.

As a result of my discussion above, not only will I continue to hold, I will be looking to add to my position.

This post is in my opinion.

[AliAngel]

I think that is reasonable to keep the people that were here rewarded and the new ones sastisfied also. If we see a price of .03 to .06 area that to me is a reasonable area that does not have that much risk to return on investment.
This is not a traditional shell play like the ones that rinse and repeat. They are showing a great business history in the owners past and seem to be headed with a real plan.
They do not seem like the sweat shop r?mers of the past and look to want to build a real company thru this shell.
Real estate is always the best asset to hold over time as you can not make more property and land tommorow. The prices will appreciate and the returns on it will be triple digit from were the prices are today for these people that know how to buy it at the right price.
Also at this time America is predicted to produce the most reverse mergers in our history. The companies of america are piling on cash assets faster then they ever had and the last time they did this was 2004. The history shows that 2005 was the largest increase of mergers and aquisitions in history and they predict 2010 to dwarf thiose numbers.
That said this is were the market will create the largest income growth today is mergers now.
Very Speculative and I feel safe enough for me to park so money here for the split just to see the show myself.
Also seeing the market makers move to the prices they did also reassured me to take a couple shares here and in the warrants as then I can get more shares after the split. Just hedging my investment for the good side.
Heck I just sold ten or so for a loss before the end of the year from two or more years ago that did r/m's and at the time felt like a lot but really helped me take down the proffit for taxes anyways.

[The Rainmaker]

Floats going to be around 128,000 shares post split

All directors and officers as
a group (three persons) own 123,210,688 (1) 96.5%

The Company currently has issued and outstanding 127,697,956 shares of Common Stock. The Reverse Stock Split would significantly reduce the number of outstanding shares of Common Stock. The Company expects to have outstanding approximately 3,648,513 common shares immediately after the Reverse Stock Split.

Float is going to be 128,212 shares.

[AliAngel]

Thank You and that was the same details I saw after I read it thru twice. Take that into account with the other fillings and I see them building a new real estate portfolio here that will manage the assets that they are buying at bargain basement prices. I also have a feeling that some of those properties will be sold for shares directly from the gang that is coming into the shell now.
The property prices are now on the verge of turn on the economic front and a year from now that property that bought at foreclosure prices may be producing some massive proffits and even the possibility of dividends here.
It is all speculative but to risk a few dollars in the economic turn and the people that are capitalizing on the bargain basement prices now may be worth it ten or twenty fold five years from now when we look back.

[The Rainmaker]

It all depends what you paid or pay for your shares. This is magnified by reverse split. If you paid .03 you need $1.05 post split to break even. If you paid .06 you need $2.10 per share post split to break even.

[AliAngel]

Take a look at the whole filling. I not sure either way here also. They do allude to institutional and other things. The big thing I see is several of the sirectors seem to have many years of experience in the real estate market and one Owns a old family business.
Not going to push the ask all the wya up my self but have 5k i will leave here as Icould just as easily give that away in the latest fad stock opo not on viagra and the candle wilts the next day. lol

[The Rainmaker]

JKAK-Never saw this move before.....giving back most of their shares for free and then buying new shares to put money into the company. This is a good thing for us imho.

The Board of Directors is now considering the possible procurement of additional "seed" money from the Company's management and persons who have a relationship with management. Currently, the Board is considering attempting to raise approximately $687,500 by issuing 1,926,000 post-split shares of Common Stock; and

2. The Board of Directors is now considering the possible grant of approximately 3,921,000 post-split shares of Common Stock to key employees, consultants and persons with whom the Company may enter into contractual relationships. These shares would vest only upon the achievement of well-defined success goals or the continued provision of services to the Company for stipulated periods of time.

The Reverse Stock Split need not be completed to undertake the two types of shares issuances described immediately above, because the Company currently has sufficient authorized but unissued shares to do so. However, the Board of Directors does not expect that it will undertake either of the two types of shares issuances described immediately above unless the Reverse Stock Split is approved and completed. If the Reverse Stock Split is approved and completed, Golden Gate Homes, Inc., the Company's largest stockholder, has indicated that it will return to the Company's treasury approximately 3,257,898 post-split shares now owned by it, in order to keep the number of shares of Common Stock outstanding after the issuances described immediately above at a level favorable to the Company. As a result, after the Reverse Stock Split, such issuances and the return of such treasury shares, the Company could expect to have approximately 6,237,722 shares issued and outstanding.

This part not as good

As stated above, the Company is currently in the very early stages of attempting to raise funds. Prior to the December 31, 2009 change in control of the Company described above, Golden Gate had entered into a "best efforts" placement agreement with a broker/dealer. This agreement may be assigned to the Company, or the Company may enter into a similar agreement with the same broker/dealer. However, no terms or conditions of any placement have been set, and the Company has no letter of intent or agreement in principal in effect (much less any definitive agreement) regarding any financing by any investor, and there can be no assurance that the Company will ever be successful in raising any funds. Nevertheless, the Board of Directors believes that a future financing transaction could involve a large enough number of shares of Common Stock that it could not be completed without the prior approval and completion of the Reverse Stock Split.

The A/S is 600 million, there are 128 million shares O/S now. They are saying the remaining 472 million shares left in A/S might not be enough for their financing deal.

[golfnara]

Nice to see you here Rainmaker. 1/35 reverse split, what do you think of that? I was thinking around 1/10 since O/S is already small but they took it little farther... Any take on this? Thanks and have a great weekend~~~

[AliAngel]

Yes sir and that is the reaon I have not done much with this I am also not the least bit worried of that filling as you have only detailed the parts of the reverse. there are many more pages there to read and that is were the 2.60 we seen the r/m go to. I am betting that they are also going to be the mm in this stock when they complete the reverse.
It is not one you want to throw millions into for sure unless you purchase the preferred shares direct and sit down with the real estate company and find out which institutional buyers they are courting and know how many actually may buy them. They have that detailed in there as the reason for the reverse split so this could either be a great or a dud from here.
Well onto the ones I know have better potential and will buy enough to get 100 shares of this just in case. lmao
Dave

[The Rainmaker]

All directors and officers as
a group (three persons) own 123,210,688 (1) 96.5%

The Company currently has issued and outstanding 127,697,956 shares of Common Stock. The Reverse Stock Split would significantly reduce the number of outstanding shares of Common Stock. The Company expects to have outstanding approximately 3,648,513 common shares immediately after the Reverse Stock Split.

Float is going to be 128,212 shares.

[The Rainmaker]

JKAK - Looking for shareholder approval for a 1 for 35 r/s. From Pre 14A filed 01/08/09:

"The Board of Directors of JK Acquisition Corp. (the "Company") is soliciting your consent to the following:

1. Two proposals to amend the Company's Second Amended and Restated Certificate of Incorporation:

* to change the name of the Company to "Golden Gate Homes, Inc." (the "Corporate Name Change Amendment"); and

*. to effect a 1-for-35 reverse stock split (the "Reverse Stock Split") of the Company's Common Stock, $.0001 par value per share ("Common Stock"), in which every thirty-five shares of Common Stock outstanding as of the effective date of the amendment will be converted into one share of Common Stock; provided, however, that all fractional shares will e whole share (the "Reverse Stock Split Amendment");"

[AliAngel]

JKAK - JK ACQUISITION CORP (OTCBB)

Date Open High Low Last Change Volume % Change
01/07/10 0.0250 0.0750 0.0250 0.0750 +0.0540 290566 +257.14%


Composite Indicator
Trend Spotter TM Buy

Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Buy

Short Term Indicators Average: 100% - Buy
20-Day Average Volume - 77908

Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy

Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 39877

Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy

Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 33876

Overall Average: 100% - Buy

Price Support Pivot Point Resistance

0.0750 0.0083 0.0583 0.1083

[AliAngel]

I agree with you there and they also have the warrants and that is the protection side for me here. lol

[Brick]

Yep, the new owners paid a premium for the shares, must have big things about to happen

[AliAngel]

LOL LAFC knows something we do not as he is sitting up there at 2.50 now.

[Brick]

I'm speaking of the new 8-K announcing the reverse merger is taking place on XXXX date.

[Claypool Reservoir]

Can't understand why people would be buying this with this hanging over their heads.

* The Company expects to propose to change its corporate name to "Golden Gate Homes, Inc." and to effect a reverse split of the Company‘s common stock to improve the Company’s capital structure. Further information about these matters will be included in a filing that the Company expects to make with the U.S. Securities and Exchange Commission (the “SEC”) in the near future. Moreover, the Company expects to consider adding additional members to its Board of Directors. Information with respect to any proposed new directors will be included in an Information Statement pursuant to Section 14(f) of the Exchange and Rule 14f-1 thereunder that the Company may make with the SEC in the near future.

[AliAngel]

LOL Is this soon enogh.

--------------------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549


Form 8-K


CURRENT REPORT


Pursuant to Section 13 or 15(d) of the


Securities Exchange Act of 1934


Date of Report (Date of earliest
event reported): December 31, 2009


JK ACQUISITION CORP.
(Exact name of registrant as specified in its Charter)


Delaware 001-32574 87-0745202
(State or other jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification Number)



855 Bordeaux Way, Suite 200, Napa, California 94558
(Address of principal executive offices) (Zip Code)



Registrant's telephone number,
including area code: [phone]

4265 San Felipe, Suite 1100, Houston, Texas 77027
(Former name or former address if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



--------------------------------------------------------------------------------

--------------------------------------------------------------------------------



--------------------------------------------------------------------------------




ITEM 5.01. CHANGES IN CONTROL OF REGISTRANT.

A change in control of JK Acquisition Corp. (the "Company") occurred on December 31, 2009 when Golden Gate Homes, Inc., a privately held Delaware corporation (“Golden Gate”), acquired from James P. Wilson and Keith D. Spickelmier, respectively, 67,738,379 and 55,472,309 shares of the Company’s common stock theretofore owned by them separately, for an aggregate of 123,210,688 shares of common stock, representing approximately 96.5% of the outstanding shares of the Company’s common stock and the controlling interest in the Company. The purchase prices paid for these shares were $171,875 to Mr. Wilson and $140,625 to Mr. Spickelmier. Steven L. Gidumal and Brandy Birtcher each own one-third of Golden Gate, and two trusts of which Tim Wilkens is the trustee, The Wilkens 2000 Trust and The Wilkens 2003 Trust (the “Wilkens Trusts”) own the remaining one-third of Golden Gate. Biographical information about Messrs. Gidumal, Wilkens and Birtcher is contained below. The funds for the purchase of the shares came personally from Messrs. Gidumal and Birtcher, and from the accounts of the Wilkens Trusts. Golden Gate purchased the shares in order to pursue a business opportunity through the Company. More information about this business opportunity will be contained in another Current Report on Form 8-K to be filed in the future. Messrs. Wilson and Spickelmier, on the one hand, and Golden Gate, on the other hand, have not entered into any arrangements or understandings with respect to the election of directors or other similar matters, other than for Mr. Spickelmier’s agreement to continue to serve as a Company director until the Company complies with Section 14(f) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 14f-1 thereunder for any subsequently elected Company directors.


In connection with the transaction described in the preceding paragraph, the following events occurred:


* James P. Wilson resigned from the Company’s Board of Directors, and Steven L. Gidumal was elected to the Board to fill the newly created vacancy, to serve along with Keith D. Spickelmier, who remains as the second director. For more information about the new director, see "ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS” below.



* All of the Company’s then serving officers resigned, and the Company elected the following persons



Officer Offices

Steven L. Gidumal Chairman of the Board &
Chief Financial Officer

Tim Wilkens Chief Executive Officer

Brandy Birtcher President

Basil N. Argerson Senior Vice President, Treasurer & Secretary




--------------------------------------------------------------------------------



For more information about the new officers, see "ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS” below.


* The Company expects to propose to change its corporate name to "Golden Gate Homes, Inc." and to effect a reverse split of the Company‘s common stock to improve the Company’s capital structure. Further information about these matters will be included in a filing that the Company expects to make with the U.S. Securities and Exchange Commission (the “SEC”) in the near future. Moreover, the Company expects to consider adding additional members to its Board of Directors. Information with respect to any proposed new directors will be included in an Information Statement pursuant to Section 14(f) of the Exchange and Rule 14f-1 thereunder that the Company may make with the SEC in the near future.



ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

Effective December 31, 2009, James P. Wilson resigned from the Company’s Board of Directors, and Steven L. Gidumal was elected to the Board to fill the newly created vacancy. Mr. Wilson’s resignation was not a result of any disagreement with the Company.


Effective December 31, 2009, all of the Company’s then serving officers (James P. Wilson and Keith D. Spickelmier) resigned from their respective Company offices. None of their resignations was a result of any disagreement with the Company. Moreover, the Company elected a new slate of officers as indicated in the following table:




Name Age Positions

Steven L. Gidumal 52 Chairman of the Board &
Chief Financial Officer

Tim Wilkens 49 Chief Executive Officer

Brandy Birtcher 56 President

Basil N. Argerson 49 Senior Vice President, Treasurer & Secretary




--------------------------------------------------------------------------------



The following is the background of Messrs. Gidumal, Wilkens and Birtcher:


Steven L. Gidumal. Since 2004, Mr. Gidumal has served as the founder, President and Portfolio Manager for Virtus Capital, a firm based in New York City that invests in the securities of companies in distressed and restructuring situations, including a variety of real estate and financial institutions. From August 2006 to August 2008, Mr. Gidumal also has served as Co-Portfolio Manager of Resurgence Asset Management, a distressed fund based in New York City for which he co-ran a portfolio in excess of $400 million. Mr. Gidumal earned a Bachelor of Science, Economics c um laude from the University of Pennsylvania (Wharton Undergraduate program) and a Master of Business Administration from Harvard Business School as a Baker Scholar (highest honors).


Tim Wilkens . For the past 11 years, Mr. Wilkens has served as President of Great Western Holdings. Great Western Holdings is a business that is the western United States development partner for Wyndham Worldwide, and in the past has partnered or been approved as a partner for Fairmont Hotels, Marcus Hotels and Shell Vacations. Mr. Wilkens has been involved in residential and commercial property development since the early 1980s. He has developed projects in the Lake Tahoe area, Napa County and Sonoma County. His projects have included class A office developments, residential housing, multifamily housing, hotels, resorts and fractional housing. Mr. Wilkens led several successful ventures that purchased distressed real estate in Texas from 1987 to 1990. Mr. Wilkens has a University Teaching Credential issued by the State of California and has studied at San Jose State University and also at the University of California at Berkeley.


Brandy Birtcher. Since 2004, Mr. Birtcher has been the President and sole owner of Birtcher Development & Investments, a leading West Coast development company founded by his great-grandfather in 1939. Mr. Birtcher began his real estate career as property manager for the family firm in 1976. Mr. Birtcher was the recipient of the Southern California Property Owner’s Association’s “Developer of the Year” award in 1987, and the company was the National Association of Industrial and Office Properties’ (NAIOP) “Real Estate Developer of the Year” in 1989. The firm was also named Orange County Business Journal’s “Family Business of the Year” in 2000. Mr. Birtcher holds a Bachelor's Degree in Business/Economics from Claremont Men's College.


Mr. Gidumal is expected to serve initially on the Company’s Nominating and Governance Committee. The Company’s Board of Directors has a standing Audit Committee, but no member is currently serving on it. The Company’s Board of Directors has not established any standing Compensation Committee. The Board of Directors as a whole will undertake the functions of this committee at the appropriate time. The Board of Directors may establish a Compensation Committee whenever it believes that doing so would benefit the Company.


The Company has not established standard compensation arrangements for its directors, and the compensation, if any, payable to each individual for his or her service on the Company’s Board will be determined (for the foreseeable future) from time to time by the Board of Directors based upon the amount of time expended by each of the directors on the Company’s behalf.




--------------------------------------------------------------------------------



As of the date of this Report, the Company has not decided upon the remuneration that it will pay to its newly elected officers. The Company does not expect to pay any such remuneration (other than expense reimbursements) until such time as it is able to complete a significant capital raising event to permit it to do so. If the Company is successful in completing a significant capital raising event, management expects that the Company will start to pay management salaries at market levels, consistent with any restrictions on salaries imposed by the investors providing the additional funds.


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


JK ACQUISITION CORP.
(Registrant)

Date: January 5, 2010 By: /s/ Steven L. Gidumal
Steven L. Gidumal,
Chief Financial Officer

[Brick]

Reverse merger 8-K should be coming out soon..

[AliAngel]

JKAKW Bid: -- Ask: 0.001 Last: 0.001 Chg ($): 0.0009 Vol: 20,000

[Claypool Reservoir]

Looks like it I'm staying far away to many unanswered questions there, was a nice pop if you had shares early enough but not a ton of volume.

Directly from recent 8K

The Company expects to propose to change its corporate name to "Golden Gate Homes, Inc." and to effect a reverse split of the Company‘s common stock to improve the Company’s capital structure. Further information about these matters will be included in a filing that the Company expects to make with the U.S. Securities and Exchange Commission (the “SEC”) in the near future. Moreover, the Company expects to consider adding additional members to its Board of Directors. Information with respect to any proposed new directors will be included in an Information Statement pursuant to Section 14(f) of the Exchange and Rule 14f-1 thereunder that the Company may make with the SEC in the near future.

[AliAngel]

dare I say why. lmao. I have one going now and will leave this up to the new kid with very good integrity to let you all know why. weeeeeeeeeeeee is all I can say and it is full r/m season.

[Wayne R]

Looks like someone likes it alot now

[Claypool Reservoir]

Interesting filings here last night looks like new ownership/RM taking place, only thing that would scare me is that its stated in 8K there will be a reverse split so who knows how much and what it will do to current PPS. I like the new management taking over credentials seem to know what they are doing. O/S is about 127Million right now with insiders holding 96.5% so that leaves about a 4million float which is really small so I like that as well, decisions decisions?????????

[AliAngel]

waitin on filings.

[AliAngel]

very little volume.

[AliAngel]

still waitin on any news.

[AliAngel]

no volume here for sure.

[Tony Jeletonev]

Hello TM,

did you read the las filing dated in november 2008? This company is totally out of $$$$

NO more cash ..how can this be viable ?

thanks for explaining BTW I am with you in HESG and I luv that company a great oppotunity!

regards,

Serge