GFY Foods (fka GFYI)

[IRISHBULL]

GFYO - Here is where your shares are going... Right to Eds family... Nice, huh?


GFYO: Issues Restricted Cmn Stk to Certain Employees

Wednesday, November 03, 2004 15:42 ET

GFY Foods, Inc (OTCBB: GFYO) filed an 8-K on 11/3, in which the Company reported that on 11/1, it issued 850,000,000 shares of its restricted common stock to Edward Schwalb, the President and sole director. The Company issued these shares as part of Mr. Schwalb's employment agreement with the Registrant that enables Mr. Schwalb to maintain a 70% ownership in the Registrant. Mr. Schwalb has waived this clause in his employment contract but accepted this issuance to raise his total ownership to 25.52%. The issuance of 850,000,000 shares to Edward Schwalb represents 24.80% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 275,000,000 shares of its restricted common stock to Lee Traupel for services rendered. This issuance of 275,000,000 shares represent 8.03% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 275,000,000 shares of its restricted common stock to Jason Loebig for services rendered. The stock was issued as a bonus and in lieu of cash pay due to Mr. Loebig. This issuance of 275,000,000 shares represents 8.03% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 250,000,000 shares of its restricted common stock to Eric Schwalb, an employee and brother of the Presiden. The stock was issued as a bonus and in lieu of cash pay due to Eric Schwalb. The issuance of 250,000,000 shares to Eric Schwalb represents 7.30% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 250,000,000 shares of its restricted common stock to Lore Hayes for services rendered. The stock was issued as a bonus and in lieu of cash pay due to Mr. Hayes. This issuance of 250,000,000 shares represents 7.30% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 250,000,000 shares of its restricted common stock to Kelly Gates, an employee. The stock was issued as a bonus and in lieu of cash pay due to Kelly Gates. The issuance of 250,000,000 shares to Kelly Gates represents 7.30% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 200,000,000 shares of its restricted common stock to Stuart Schwalb, the father of the President, for consulting services rendered to the Registrant. The stock was issued for consulting fees due to Stuart Schwalb. The issuance of the 200,000,000 shares to Stuart Schwalb represents 5.84% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 250,000,000 shares of its restricted common stock to Bret Schwalb, an employee and brother of the President. The stock was issued as a bonus and in lieu of cash pay due to Bret Schwalb. The issuance of 250,000,000 shares to Bret Schwalb represents 7.30% of the total shares outstanding as of November 2, 2004.

On November 1, 2004, the Company issued 300,000,000 shares of its restricted common stock to Cecil Wall in consideration for services performed in 2000-2001. Mr. Wall had an agreement with the previous management to be issued shares of common stock which were never issued to Mr. Wall. The issuance of the 300,000,000 shares to Mr. Wall is approximately the same percentage of the outstanding shares that Mr. Wall was due at the time of his agreement. The issuance of these shares represents 8.75% of the total shares outstanding as of November 2, 2004.

After the stock issuances referenced above, the total number of shares outstanding as of November 2, 2004 was 3,426,733,899.