FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report Under Section 13 or 15(d)
Of the Securities Exchange Act of 1934
Current Report As Of December 14, 2000
Commission File Number 0-26999
GLOBAL WEB, INC.
(Exact name of registrant as specified in its charter)
UTAH 87-0427550
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
11781 South Lone Peak Parkway, No. 110
Draper, Utah 84020
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(Address of principal executive offices)
Registrant's telephone number
including area code (801)523-1003
Not Applicable
Former Address, if changed since last report
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Item 1. - Change in Control of Registrant.
Not applicable.
Item 2. - Acquisition or Disposition of Assets.
Not applicable.
Item 3. - Bankruptcy or Receivership.
Not Applicable.
Item 4. - Change in Registrant's Certifying Accountant.
Not applicable.
Item 5. - Other Events.
Recently Registrant by board action authorized the issuance of 3,100 shares
of common stock to certain of its employees as a Christmas bonus. In addition,
5,000 shares were issued to Beral, Inc., whose principal in Andrew Racz. These
shares were issued for consulting services. All of the certificates evidencing
the shares will bear a restricted legend.
Also, the Board of Directors adopted a resolution authorizing a private
placement of promissory notes and warrants at maximum amounts of $500,000 and
150,000 respectively. The promissory notes have a term of two years and bear
interest at the rate of ten per cent per annum and are nontransferable. The
warrants have a two year term and an exercise price of $1.00 per share. Each
warrant entitles the holder to purchase one share during the term at the
exercise price. As of the date hereof no sales have occurred under the private
placement. Any proceeds from the private offering will be used to fund current
operations and for additional marketing efforts.
Recently the Company increased the scale of its marketing sponsoring
additional seminars. The Company's experience with the increased number of
seminars has been limited to three or four weeks. The overall success of these
additional seminars have not met expectations. The Company is evaluating its
marketing approach and techniques. Also, depending on the funding received the
Company may use some of the proceeds to sponsor an informercial.
Item 6. Resignation of Registrant's Directors.
None and Not applicable.
Item 7. Financial Statements and Exhibits.
Not applicable.
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Item 8. Change in Registrant's Fiscal Year.
Not applicable.
Item 9. Regulation FD Disclosure.
None.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date December 14, 2000.
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Global Web, Inc.
By /s/ Brae Burbidge
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Brae Burbidge
President and Chief Executive Officer
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