UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
GENERAL CREDIT CORPORATION
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(Name of Issuer)
Common Stock ($.001 par value)
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(Title of Class of Securities)
369451109
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(CUSIP Number)
Roxanne K. Beilly, Esq.
Atlas, Pearlman, Trop & Borkson, P.A.,
200 East Las Olas Blvd., Suite 1900
Fort Lauderdale, FL 33301
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 6, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
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SCHEDULE 13D
<S> <C>
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CUSIP No. 369451109 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GERALD SCHULTZ
SSN 079 28 3879
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Personal Funds
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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Number of 7 SOLE VOTING POWER
Shares
Beneficially 371,000 shares of common stock
Owned by
Each ----------------------------------------------------------------------------------------------------------
Reporting 8 SHARED VOTING POWER
Person 0
With ----------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
371,000 shares of common stock
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,000 shares of common stock
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10% of common stock outstanding as of January 7, 1999
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14 TYPE OF REPORTING PERSON*
Individual
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</TABLE>
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CUSIP No. 369451109 Page 3 of 4 Pages
ATTACHMENT
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Item 1. Security and Issuer
This report relates to the Common Stock (par value $.001 per share) of
General Credit Corporation (the "Company"), whose principal office is located at
370 Lexington Avenue, Suite 2000, New York, NY 10017.
Item 2. Identity and Background
(a) Name: GERALD SCHULTZ
(b) Business Address: 1 Links Court, Huntington, NY 11743.
(c) Present Principal Occupation: Retired
(d) Convictions: None.
(e) Suits and Proceedings: None.
(f) Citizenship: USA
Item 3. Source and Amount of Funds or Other Consideration
The acquisition of the shares of Common Stock by Mr. Schultz was
derived pursuant to a purchase in the open market with personal funds of 25,000
shares on November 6, 1998, 25,000 shares on November 23, 1998, 311,000 shares
on January 7, 1999 and 10,000 shares on January 7, 1999 heretofore owning
371,000.
Item 4. Purpose of the Transaction
The aforementioned securities were acquired for investment purposes
only. Mr. Schultz is currently evaluating his options as to whether he should
become involved in the Company or remain as a passive investor and will amend
this Schedule if his intention should change. In connection therewith, Mr.
Schultz may contact a very limited number of the Company's shareholders to
discuss the business of the Company and whether he alone or possibly with others
should become involved with the Company.
Item 5. Interest in Securities of the Issuer
Mr. Schultz is the beneficial owner of 371,000 shares of Common Stock
of the Company.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
None
Item 7. Material to be Filed as Exhibits
None
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CUSIP No. 369451109 Page 4 of 4 Pages
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: January 7, 1999 /s/ Gerald Schultz
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Name: GERALD SCHULTZ
