UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2005
GLOBAL CONCEPTS, LTD.
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(Exact Name of Registrant as Specified in its Charter)
Colorado 0-25319 84-1191355
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(State of Incorporation) (Commission File (IRS Employer
Number) Identification No.)
501 Bloomfield Ave., Montclair, NJ 07042
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(Address of principal executive offices)
(973) 233-1233
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Registrant's Telephone Number
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communication pursuant to Rule 425 under the Securities Act
(17 CFR 230.425).
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12).
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)).
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)).
Item 2.01 Completion of Acquisition of Assets
On July 1, 2005 Global Concepts purchased the capital stock of Societe
Financiere Hauville, a French corporation. Societe Financiere Hauville is a
holding company that owns 99.9% of the capital stock of Societe Boullevillaise
de Transports, a French corporation, and 99.6% of the capital stock of Societe
Lyonnaise d'Affretement et de Transports Europeens, a French corporation
("SLATE").
Societe Boullevillaise de Transports is engaged solely in the business
of providing employees to SLATE. SLATE operates a fleet of 78 car-carriers
from nine terminals throughout France. The fleet is utilized in the
distribution of newly-manufactured vehicles. 85% of SLATE's revenues are
obtained under contracts with two companies that distribute Peugeot and
Citroen automobiles. SLATE earns the remaining 15% of its revenues by acting
as a sub-contractor to other auto distributors.
Global Concepts purchased Societe Financiere Hauville from Daniel
Hauville. Prior to the acquisition, there was no relationship between Global
Concepts and Mr. Hauville.
Global Concepts agreed to pay Mr. Hauville a total of 700,000 Euros
(approximately $840,000) for Societe Financiere Hauville. 100,000 Euros were
paid immediately. 200,000 Euros are due on each of December 31, 2005, March
31, 2006 and June 30, 2006. Global Concepts also agreed to cause the loans
made by Mr. Hauville to SLATE to be satisfied by payment of 50,000 Euros on
September 30, 2005 and 50,000 Euros on December 31, 2005.
Item 9.01 Financial Statements and Exhibits
Financial Statements
- Financial statements of Societe Financiere Hauville - to be filed
by amendment.
- Pro forma financial statements of Global Concepts, Ltd. - to be
filed by amendment.
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 hereunto duly authorized.
GLOBAL CONCEPTS, LTD.
Dated: August 17, 2005 By:/s/ Eduardo Rodriguez
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Eduardo Rodriguez
Chief Executive Officer