Global Earth Energy Inc. (fka GLER)

[CindyLu1]

Here is my question:
GLER was required to file an 8-k about the aquisition but they filed it at item 8.01-other events. Weren't they supposed to file it as item 2.01?
copied from the SEC website at http://www.sec.gov/about/forms/form8-k.pdf
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets.
If the registrant or any of its majority-owned subsidiaries has completed the acquisition or disposition of a significant amount of
assets, otherwise than in the ordinary course of business, disclose the following information:
(a) the date of completion of the transaction;
(b) a brief description of the assets involved;
(c) the identity of the person(s) from whom the assets were acquired or to whom they were sold and the nature of any material
relationship, other than in respect of the transaction, between such person(s) and the registrant or any of its affiliates, or any director
or officer of the registrant, or any associate of any such director or officer;
(d) the nature and amount of consideration given or received for the assets and, if any material relationship is disclosed
pursuant to paragraph (c) of this Item 2.01, the formula or principle followed in determining the amount of such consideration;
(e) if the transaction being reported is an acquisition and if a material relationship exists between the registrant or any of
its affiliates and the source(s) of the funds used in the acquisition, the identity of the source(s) of the funds unless all or any part
of the consideration used is a loan made in the ordinary course of business by a bank as defined by Section 3(a)(6) of the Act, in
which case the identity of such bank may be omitted provided the registrant:
(1) has made a request for confidentiality pursuant to Section 13(d)(1)(B) of the Act; and
(2) states in the report that the identity of the bank has been so omitted and filed separately with the Commission;and
(f) if the registrant was a shell company, other than a business combination related shell company, as those terms are
defined in Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2), immediately before the transaction, the information that
would be required if the registrant were filing a general form for registration of securities on Form 10 under the Exchange Act
reflecting all classes of the registrant’s securities subject to the reporting requirements of Section 13 (15 U.S.C. 78m) or Section
6
15(d) (15 U.S.C. 78o(d)) of such Act upon consummation of the transaction. Notwithstanding General Instruction B.3. to Form 8-
K, if any disclosure required by this Item 2.01(f) is previously reported, as that term is defined in Rule 12b-2 under the Exchange
Act (17 CFR 240.12b-2), the registrant may identify the filing in which that disclosure is included instead of including that
disclosure in this report.
Instructions.
1. No information need be given as to:
(i) any transaction between any person and any wholly-owned subsidiary of such person;
(ii) any transaction between two or more wholly-owned subsidiaries of any person; or
(iii) the redemption or other acquisition of securities from the public, or the sale or other disposition of securities
to the public, by the issuer of such securities or by a wholly-owned subsidiary of that issuer.
2. The term acquisition includes every purchase, acquisition by lease, exchange, merger, consolidation, succession or other
acquisition, except that the term does not include the construction or development of property by or for the registrant or its
subsidiaries or the acquisition of materials for such purpose. The term disposition includes every sale, disposition by lease, exchange,
merger, consolidation, mortgage, assignment or hypothecation of assets, whether for the benefit of creditors or otherwise,
abandonment, destruction, or other disposition.
3. The information called for by this Item 2.01 is to be given as to each transaction or series of related transactions of the
size indicated. The acquisition or disposition of securities is deemed the indirect acquisition or disposition of the assets represented
by such securities if it results in the acquisition or disposition of control of such assets.
4. An acquisition or disposition shall be deemed to involve a significant amount of assets:
(i) if the registrant’s and its other subsidiaries’ equity in the net book value of such assets or the amount paid or
received for the assets upon such acquisition or disposition exceeded 10% of the total assets of the registrant and its consolidated
subsidiaries; or
(ii) if it involved a business (see 17 CFR 210.11-01(d)) that is significant (see 17 CFR 210.11-01(b)).
Acquisitions of individually insignificant businesses are not required to be reported pursuant to this Item 2.01 unless they are related
businesses (see 17 CFR 210.3-05(a)(3)) and are significant in the aggregate.
5. Attention is directed to the requirements in Item 9.01 (Financial Statements and Exhibits) with respect to the filing of:
(i) financial statements of businesses acquired;
(ii) pro forma financial information; and
(iii) copies of the plans of acquisition or disposition as exhibits to the report.

I just don't understand why they wouldn't know the correct way to file the 8-k. They surely know more about SEC fillings than I do! I hope this does bounce back up but i just don't think this is sitting right with a lot of folks...including me.