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
April 24, 2000
Date of Report
(Date of Earliest Event Reported)
GRAYSTONE WORLD WIDE, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 0-23498 33-0601487
(State or other Jurisdiction)(Commission File No.)(IRS Employer I.D. No.)
2506 Regency Lake Drive
Marietta, Georgia 30062
(Address of Principal Executive Offices)
Registrant's Telephone Number
(770) 973-0673
Item 1. Changes in Control of Registrant.
None, not applicable.
Item 2. Acquisition or Disposition of Assets.
None, not applicable.
Item 3. Bankruptcy or Receivership.
None; not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
None, not applicable.
Item 5. Other Events.
A special meeting of Stockholders was convened in accordance with the
Corporate By-Laws, Article I, Section 3 by the holders of at least twenty
percent of the shares entitled to vote at the meeting. The meeting was
held at 2506 Regency Lake Dr., Marietta Georgia. A quorum of more than 50
percent of voting shares of Graystone World Wide, Inc. via presence at the
meeting or via proxy was demonstrated.
The following proposal's were properly introduced for discussion and
consideration and voted upon by the stockholders present and all valid
proxies received prior to the start of the meeting:
Proposal 1 - Election of a new Board of Directors:
The resignation of Mr. David Nelson, as a member of the Board of
Directors and C.F.O. was accepted by the stock holders of the company.
The following people were nominated and elected by the majority of
votes cast as the members of the new Board of Directors to serve for a
period of 5 months until the next Annual Stockholder's Meeting or until
their respective successors are elected and have been qualified:
Mr. Donald J. Hallisy - Current Director
Mr. Norman J. McCallum - Current Director
Mr. Stephen W. Brown, Esq. - Director
Mr. Arnold Sommers, Q.C. - New Director
Mr. Kenneth Weiss - New Director
Proposal 2 - Increase the number of authorized shares:
The authorized number of common shares for the company was increased
from 20 Million to 50 Million.
The Board of Directors, meeting on 14 April, 2000 approved the
following actions:
1. Approved the resignation of Mr. David Nelson.
2. Cancelled all outstanding relationships with Mr. Karl Smith
and his company, Smith Consulting Services as inside Corporate
Consultant and Promoter.
3. Approved the change of Graystone World Wide, Inc.'s stock
transfer agent from Colonial Stock Transfer, 455 East 400 South
Suite 100, Salt Lake City, Utah 84111 to Sun Trust Bank's
Stock Transfer Department, Sun Trust Bank, Mail Code 258,
P.O. Box 4625, Atlanta, Georgia 30302-4625. Contact person of
Ms. Sandra Benefield, Assistant Vice President, Stock Transfer
Department, Sun Trust Bank. Tel: 404-588-7831, Fax: 404-332-3875.
4. Approved the change of Corporate counsel from the law firm of
Leonard Burningham, Hermes Building, Suite 205, 455 East Fifth
South, Salt Lake City, Utah 84111 to Stephen Weizenecker of
Weizenecker and Rose LLC, 2941 Piedmont Rd, N.E., Suite F,
Atlanta, Georgia 30305, Tel: 404-365-9799, Fax: 404-365-9848.
5. Authorized the President to proceed with negotiations to acquire
an asset based development company for the purpose of increasing
asset base and cash flow.
Item 6. Resignations of Directors and Executive Officers.
The resignation of Mr. David Nelson, as a member of the Board of
Directors and Chief Financial Officer was accepted by the stock
holders of the company.
Item 7. Financial Statements and Exhibits.
None; not applicable.
Item 8. Change in Fiscal Year.
None; not applicable.
Item 9. Sales of Equity Securities Pursuant to Regulation S.
None; not applicable.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this Report to be signed on its
behalf by the undersigned hereunto duly authorized.
GRAYSTONE WORLD WIDE, INC.
Date: 4/24/00 ________________________
By /s/ Donald J. Hallisy
President and Director
