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~GMTH News...


GMTH: $125K Equity Financing Agreement w/Southridge Partners [delayed]
Ridgeland, MS, MAY 18, 2005 (EventX/Knobias.com via COMTEX) --
Global Matrechs Inc. (GMTH) announced that Southridge Partners LP exercised its boption to purchase an additional note and warrant pursuant to a Second Securities Purchase Agreement. The Company issued to Southridge a convertible promissory note in the principal amount of $125,000 and a warrant to purchase up to 5,000,000 shares of common stock to Southridge in exchange for its $125,000 investment. The note is convertible, at the option of the holder, into shares of common stock at a conversion price of $0.02 per share. The note matures on May 12, 2007.

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