Global Technologies Group, Inc. (GTGP)

[21ZNA9]

This might connect a few dots as to why James Fallacaro, Independant Music Group Inc. and Falcon Entertainment Corp went dark in the early 2000's.

Olympusat Inc was awarded a judgement in the amount of $223,299.49 >> http://tinyurl.com/8o9zg2o

Filings in Palm Beach FL can be viewed here:
Hit accept and plug in Falcon Entertainment

http://www.mypalmbeachclerk.com/officialrecords/search.aspx

Quote:FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 03/11/2002 CFN # 20020127627
FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 01/21/2003 CFN # 20030032911
FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 01/28/2003
CFN # 20030046258
FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 01/28/2003 CFN # 20030046259
FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 09/11/2006 CFN # 20060522050
FALCON ENTERTAINMENT CORPORATION OLYMPUSAT INC 09/11/2006 CFN # 20060522051


Here's the foreign judgement filed with the Danbury, CT court >>
http://tinyurl.com/8t9x5lt

Looks like Independent Music Group Inc. was in a "business transaction with Olympusat Inc....
http://tinyurl.com/93pux2x

Quote:Company's authorized Capital Stock from 10,000,000 to 20,000,000 in order to facilitate a business transaction with OlympuSAT Inc., a division of Ocean Communications, Inc. ("OlympuSAT") which is the subject of a letter of intent.

http://tinyurl.com/93pux2x

I Noticed Anthony Escamilla is also listed as a defendant in the Olympusat action >> D-52 = ANTHONY ESCAMILLA

Anthony Escamilla is also personally listed on judgement

Mr. Escamilla is Director and Executive Vice President of Independent Music Group, Inc. Anthony Escamilla(4) 100,000

The SEC doc goes on to state the following:

Reasons for the Proposed Name Change and Increase in Authorized Shares

The Board of Directors of the Company has executed a Letter of Intent with OlympuSAT, Inc.("OlympuSAT"), a division of Ocean Communications, Inc., whereby OlympuSAT will purchase the exclusive licensing rights to distribute the Company's programming service to cable sytems and Direct Broadcast Satellite platforms via the OlympuSAT digital transponder service for a period of five years. Pursuant to the Letter of Intent, the Company will issue Common Stock to OlympuSAT upon execution of the Agreements. At this time, the Company has issued and outstanding approximately 9.7 million of its 10 million authorized shares. The Company believes that an increase in the authorized Common Stock is necessary to facilitate the transaction with OlympuSAT.

There can be no assurances, nor can the Board of Directors of the
Company predict what effect, if any, these proposed amendments will have on the market price of the Company's Common Stock. The amendments are being sought solely to enhance the image of the Company, its corporate flexibility, and to facilitate its pending transaction with OlympuSAT.

Hmmm ~ Interesting timing to be offering a private placement and raising $276,000.

Quote:As of October 31, 2004, the Company completed a private placement to 47 investors for the allocation of 1,107,000 shares of common stock at $0.25 per share (“private placement shares”). The Company received gross proceeds of $276,750 (audited) from the offering. Of the total gross proceeds, $10,000 (audited) was received on November 10, 2004 and has been reflected as a subscription receivable as of October 31, 2004 in the accompanying financial statements. The Company incurred offering costs of $46,604 (audited) and has applied such costs against the proceeds from the offering.



FORM SB-2 AMENDMENT NUMBER THREE >> http://tinyurl.com/8wwthpm

Olympusat Inc. appears to be a legitimate company and it didn't take them long to string up ole' Jimmy.
http://www.olympusat.com/

Couple of other things pop up with the address listed below:

INDEPENDENT MUSIC GROUP, INC.
71 Great Pasture Road
Redding, Ct. 06896

Invision Records Inc. in New York, NY >
Fallacaro and Mark Beloyan listed directors
http://tinyurl.com/8dbqgp2

Interesting that Ray Charles signed with Invision Records Inc
http://www.mi2n.com/press.php3?press_nb=8541

There's a picture of Ray and Corrine on her facebook page >> Who doesn't like Ray Charles.

Corrines FB page > search under: Corinne Salzman-Fallacaro

What a gorgeous home the Fallacaro's had on 20 Old Stagecoach Road
http://tinyurl.com/9gky6xh