U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10-QSB/A
AMENDMENT NO. 1
TO
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1996
Commission file number 0-15818
GLOBAL TELEMEDIA INTERNATIONAL, INC.
(Name of small business issuer in its charter)
FLORIDA 64-0708107
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1121 Alderman Drive, Suite 200, Alpharetta, Georgia 30202
(Address of principal executive offices) (Zip Code)
Issuer's telephone number (770) 667-6088
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
Yes X No __
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court. Yes ____ No ___
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practical date 14,982,267 shares of Common
Stock as of September 30, 1996.
Transitional Small Business Disclosure Format (Check One): Yes ___ No X
The undersigned registrant hereby amends the following items, financial
statements, exhibits of other portions of the QUARTERLY REPORT ON FORM 10-QSB
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1996, as set forth in the pages
attached hereto:
1. Exhibits - Exhibit 27 (Financial Data Schedule).
<PAGE>
In accordance with the requirements of the Exchange Act, the registrant
has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
GLOBAL TELEMEDIA INTERNATIONAL, INC.
(Registrant)
/S/ Roderick A. McClain
______________________________________
Roderick A. McClain, President & CEO
Date: January 7, 1997
/S/ Herbert S. Perman
________________________________________
Herbert S. Perman, Chief Financial Officer
Date: January 7, 1997
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 2,532,371
<SECURITIES> 0
<RECEIVABLES> 204,886
<ALLOWANCES> 0
<INVENTORY> 79,348
<CURRENT-ASSETS> 4,410,201
<PP&E> 363,683
<DEPRECIATION> 90,125
<TOTAL-ASSETS> 4,683,760
<CURRENT-LIABILITIES> 1,835,885
<BONDS> 0
0
0
<COMMON> 59,912
<OTHER-SE> (2,249,427)
<TOTAL-LIABILITY-AND-EQUITY> 4,683,760
<SALES> 1,026,103
<TOTAL-REVENUES> 1,026,103
<CGS> 1,045,334
<TOTAL-COSTS> 4,041,064
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 105,570
<INCOME-PRETAX> (3,053,488)
<INCOME-TAX> 0
<INCOME-CONTINUING> (3,053,488)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,053,488)
<EPS-PRIMARY> (0.27)
<EPS-DILUTED> (0.27)
</TABLE>
