FORM 5
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] CHECK BOX IF NO LONGER SUBJECT
TO SECTION 16. FORM 4 OR FORM 5
OBLIGATIONS MAY CONTINUE. SEE
INSTRUCTION 1(B).
[ ] FORM 3 HOLDINGS REPORTED
[ ] FORM 4 TRANSACTIONS REPORTED
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
_______________________________________________________________________________
1. Name and Address of Reporting Person
Kimmons Gary F
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(Last) (First) (Middle)
5555 San Felipe, Suite #625
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(Street)
Houston Tx 77056
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(City) (State) (Zip)
_______________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
GKI
_______________________________________________________________________________
3. IRS or Social Security Number of Reporting Person (Voluntary)
_______________________________________________________________________________
4. Statement for Month/Year
5/98
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5. If Amendment, Date of Original (Month/Year)
5/98
_______________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] 10% Owner
[X] Director
[X] Officer (give title below)
[ ] Other (specify below)
_______________________________________________________________________________
7. Individual or Joint/Group Report (check applicable line)
[X] Form Filed by One Reporting Period
[ ] Form filed by More than One Reporting Person
_______________________________________________________________________________
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<S> <C>
- ------------------------------------------------------------------------------------------------------------------------
1. 2. 3. 4. 5. 6. 7.
- --------------------- -------- ---------- ------------------------------ ----------- ---------- ----------
Amount of Owner-
Securities ship
Trans- Securities Acquired (A) Beneficially Form:
action or Disposed of (D) Owned at Direct Nature of
Date Trans- (Instr. 3, 4 and 5) End of (D) or Indirect
Title of (Month/ action ---------------------------- Fiscal Year Indirect Beneficial
Security Day/ Code Amount (A) or Price (Instr. (I) Ownership
(Instr. 3) Year) (Instr. 8) (D) 3 and 4) (Instr. 4) (Instr. 4)
- --------------------- -------- ---------- ----------- ------ --------- ----------- ---------- ----------
Common Stock 8/8/97 A 1,000,000 (A) 2,801,080 D
4,955,000 I (1)
</TABLE>
(1) Owned by Kimmons Family Partnership, Ltd.
* If the form is filed by more than one reporting person, see instruction
4(b)(v).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS
A CURRENTLY VALID OMB CONTROL NUMBER
<PAGE>
FORM 5 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G. PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<S> <C>
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1. 2. 3. 4. 5. 6.
- ---------- -------- -------- -------- ---------- ------------
Number of Date Exer-
Derivative cisable and
Securities Expiration
Conver- Acquired (A) Date (Month/
sion of Trans- or Disposed Day/Year)
Exercise action Trans- of (D) --------------
Title of Price of Date action (Instr. 3, Date
Derivative Deriv- (Month/ Code 4 and 5) Exer- Expir-
Security ative Day/ (Instr. ---------- cis- ation
(Instr. 3) Security Year) 8) (A) (D) able Date
- ---------- -------- -------- ------- ---- ---- ------- -----
Warrant to
Purchase
Common
Stock .3125 3/13/98 A 1,709,091 3/13/98 3/13/2003
Option to
Purchase
Common
Stock .34375 3/13/98 A 290,909 3/13/98 3/13/2003
Warrant to
Purchase
Common
Stock .3125 3/13/98 A 4,000,000 (2) 3/13/2003
(2) Vest at 1,000,000 per year beginning 3/13/99
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7. 8. 9. 10. 11.
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Title and Ownership
Amount of of
Underlying Number of Deriv-
Securities Price Derivative ative
(Instr. 3 of Securities Security:
and 4) Deriv- Benefi- Direct
- -------------- ative cially (D) or Nature of
Amount Secur- Owned at Indirect Indirect
or Num- ity End of (I) Beneficial
ber of (Instr. Year (Instr. Ownership
Title Shares 5) (Instr. 4) 4) (Instr. 4)
- ----- ------ ------ ---------- -------- ----------
Common Stock 1,709,091 .3125 D
Common Stock 290,909 .34375 D
Common Stock 4,000,000 .3125 6,000,000 D
</TABLE>
Explanation of Responses:
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9/17/98
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** Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless form displays a currently valid
OMB number.
