Replies to post #60779 on Global Technologies Group, Inc. (GTGP)

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PLAYER ONE - wrong yet again

Jim raised $9.0 million that went into the public company via a private placement and the money was gone in a matter of months as he operated it into a close to bankrucpt company. He then used some of the money that he had obtained in stock sales and other means, including those original $9.0 milion, to put back into the company using all the assets as security. He then sucked out all the assets out of the company, leaving the public stockholders with an empty shell. He then left the company as it continued as an empty shell which he had turned it into. The empty shell was then REVOKED by the SEC...

EXCELLENCE IN MANAGEMENT

PLAYER ONE Wednesday, September 19, 2012 2:10:46 PM
Re: VOICE post# 60756 Post # of 60892

While I have worked with ND in the past, The quote from his post is also dissapointing. He should have checked the filings for falcon and the s-1 for global in 2004.when jim left Falcon in 2002 and bought the assets for cash from his original finanicing personally. After jim left, what happened to falcon in 2009 was of no consequence as jim had been out of falcon for 7 years

[nodummy]

I do not think that James and Corrine Fallacaro's choice to abandon the Falcon Entertainment Corp shell exonerates them from being responsible for the eventual revocation of that shell.

I doubt the Falcon Entertainment Corp shareholders are blaming anybody else for what happened to Falcon Entertainment Corp.

Fact is that nobody took over control of the Falcon Entertainment Corp shell after it was abandoned by Corrine and James Fallacaro.

Fact is that 3 years went by with no disclosure about the resignation of James and Corrine Fallacaro and no disclosure was ever filed under the Falcon Entertainment ticker. No disclosure was ever done telling Falcon Entertainment shareholders that their assets were given to James and Corrine Fallacaro because James and Corrine Fallacaro decided in 2001 to default on a $700,000 Promissory Note due to them. They didn't even respect those shareholders enough to disclose those important material events.

James and Corrine by their own words admitted that they didn't even follow the proper legal procedures to take those assets away from the Falcon Entertainment Corp shareholders

Because there was no judicial determination as to the validity of the transfer of title of the assets to Corinne Fallacaro, there can be no assurance that shareholders of Falcon will not assert any claims which challenge the validity of the transfer of assets. In the event such a challenge was successful, our operations would be severely impaired.

Since James Fallacaro was the CEO of the Falcon Entertainment shell at the time that the Falcon Entertainment shell allegedly defaulted on a $700,000 debt Note due to James and Corrine Fallacaro then it was James Fallacaro's fault that the Falcon Entertainment Corp shell failed and it was his fault that it got abandoned and it was his fault that 8 years later the shell got revoked.

How convenient that the $700,000 debt Note was replaced with a $1,500,000 debt Note.

James Fallacaro failed as the CEO of Falcon Entertainment Corp and now James Fallacaro has failed as the CEO of the GTGP shell.

James Fallacaro was responsible for the death of the Falcon Entertainment Corp shell. And now James Fallacaro is responsible for the death of the GTGP shell.

If James now abandons the GTGP shell to try to once again start over with the same assets with yet another publicly trade shell and 5 or 6 years from now the GTGP shell gets revoked it will still be his fault that the GTGP shell got revoked. It doesn't matter that they stopped acting as the officers by abandoning the shell in 2012.

I'm sorry that people's investments in the GTGP shell have now been destroyed.

Kudos to the people that saw and understood the risk in investing in a shell that spent the last several years ignoring its reporting requirements and took profits while they were there.