================================================================================ 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): January 15, 2002 GROUP LONG DISTANCE, INC. (Name of Small Business Issuer in Its Charter) FLORIDA 65-0213198 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization Identification No.) 9500 TOLEDO WAY IRVINE, CA 92618- 1806 (Address of Principal Executive Offices) (949) 588-5100 (Issuer's Telephone Number, Including Area Code) 400 E. ATLANTIC BOULEVARD, FIRST FLOOR POMPANO BEACH, FL 33060 (Former Address of Principal Executive Offices) ================================================================================ ITEM 5. OTHER EVENTS On January 15, 2002, Group Long Distance, Inc., ("the Company") terminated the employment of all non-executive employees, due to the inability of the Company to meet its obligations, including its payroll. The Company is closing its Texas office effective February 1, 2002. Certain officers of the Company will continue their employment on a deferred salary basis. The Company is continuing its efforts to raise capital for future operations. However, if the Company is unable to raise sufficient capital or sell enough equity to maintain its limited operations, the Company will not be able to meet its current obligations, which will likely result in its selling or liquidating the remaining assets of the Company over the next 30 to 60 days. The Company may also seek protection under the federal bankruptcy laws. SIGNATURE 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 thereunto duly authorized. GROUP LONG DISTANCE, INC. (Registrant) January 17, 2002 By: /s/ GLENN S. KOACH ------------------------------------------------ Glenn S. Koach, DIRECTOR, PRESIDENT AND CHIEF OPERATING OFFICER