SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report: June 9, 1999
GLOBAL DIGITAL INFORMATION, INC.
Utah 91-179-3053
(State of incorporation) (IRS Employer Identification
Number)
0-22851 (Commission File Number)
455 Wards Corner Road, Loveland, OH 45140
(Address of principal executive offices)
Registrants's telephone number, including area code:
(513) 831-6647
(Former name or former address, if changed from last report)
Item 5 Other Events
1. RESIGNATION OF BOARD OF DIRECTORS AND PRESIDENT/CEO
At the meeting of the Board of Directors, held
telephonically, on May 14, 1999, the Board accepted the
resignation of the following member from the Board of
Directors: Newell Crane.
Newell Crane also resigned as President and CEO.
2. APPROVAL OF REVERSE SPLIT
At a special meeting of the Board of Directors held
telephonically on May 14, 1999, the Board of Directors
approved a reverse split of the Company's authorized and
issued stock of one new share of Company stock for each 80
shares of company stock now issued. The number of
authorized stock remains the same. The reverse split is
effective June 1, 1999 for shareholders of record on May 14,
1999.
3. PURCHASE OF ALL SHARES OF MASTERPIECE MEDICAL
At a special meeting of the Board of Directors held on May
14, 1999, the Board of Directors approved the purchase of
all stock of Masterpiece Medical, Inc. for two million
(2,000,000) shares of the Company's stock. Said stock is to
be restricted stock pursuant to Section 4(2) of the
Securities Act. The Chairman of the Board of Directors was
instructed to negotiate a purchase agreement and merger
agreement with Masterpiece Medical.
At a meeting of the Board of Directors held telephonically
on June 2, 1999, the Board of Directors accepted the
resignation of William Perry and David Munier from the Board
of the Company. The Board of Directors approved the
following individuals as replacement for the Board of
Directors who had previously resigned: William Coyne,
M.D., Newell Crane, and Elizabeth Crane. The newly
appointed members of the Board of Directors are to serve
until the next regular meeting of the shareholders of the
Company.
4. APPROVAL OF PURCHASE AND MERGER.
The board of directors approved the Purchase Agreement and
Plan of Merger of Masterpiece Medical which was submitted by
the Chairman. In said plan of Purchase Agreement and Plan
Of Merger, the Company agrees to purchase all of Masterpiece
Medical, Inc., a Delaware corporation, for 2,000 shares of
Company Said shares of Company are to be post reverse split
shares.
5. APPOINTMENT OF PRESIDENT AND CEO.
The Board of Directors appointed Newell Crane, MBA, PHD, as
President and CEO of the company.
Global Digital Information, Inc.
June 9, 1999 By:/s/ Newell Crane, President
