UNITED STATES
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 (Date of earliest event reported): August 14, 2005
GLOBAL CONCEPTS, LTD.
------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
Colorado 0-25319 84-1191355
----------------------------------------------------------------------------
(State of Incorporation) (Commission File (IRS Employer
Number) Identification No.)
501 Bloomfield Ave., Montclair, NJ 07042
----------------------------------------
(Address of principal executive offices)
(973) 233-1233
-----------------------------
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 1.02 Termination of a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On August 14, 2005 Global Concepts agreed with G&H Management, LLC that
the warrant issued to G&H Management in April 2005 would be cancelled. The
warrant had given G&H Management the right to purchase 40 million shares of
Global Concepts common stock at $.05 per share.
On August 14, 2005 Global Concepts issued a warrant to Eduardo Rodriguez
and Michael Margolies, which they assigned to G&H Management, LLC. The
warrant was issued in consideration of past services by Messrs. Rodriguez and
Margolies, who are the officers and directors of Global Concepts. The warrant
gives G&H Management the right to purchase 25 million shares of Global
Concepts common stock at $.12 per share, which was the market price on the day
of grant. The warrant will terminate on July 31, 2008.
Item 9.01 Financial Statements and Exhibits
Exhibits
10-a Stock Purchase Warrant dated August 14, 2005 issued to G&H Management LLC.
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 15, 2005 By: /s/ Eduardo Rodriguez
---------------------------
Eduardo Rodriguez
Chief Executive Officer