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) September 10, 2004
GLOBAL MARINE LTD.
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(Exact name of registrant as specified in its charter)
NEVADA 0-30331 57-1075246
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1325 Proteus Street, Naval Base, North Charleston, S.C. 29405
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(Address of principal executive offices)
Registrant's telephone number, including area code (843) 747-8818
SECTION 2 - Financial Information
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
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Attached hereto as an Exhibit is a list of the assets of Marine Cargo Recovery
Limited, which assets the Company acquired in the Merger between the Company and
Seasearch Scientific Corporation. The list is physical assets only.
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
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Contained in Section 9 below is a financial statement of the company.
THIS FINANCIAL STATEMENT IS A REPRESENTATION OF THE MANAGEMENT OF THE COMPANY.
IT WAS NOT PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT. IT WAS
PREPARED BY THE OFFICERS AND DIRECTORS OF THE COMPANY FROM THE BOOKS AND
RECORDS OF THE COMPANY. THIS INFORMATION WAS NOT REVIEWED BY A CERTIFIED PUBLIC
ACCOUNTANT AND IT IS NOT AUDITED. IT IS BEING PROVIDED BY THE COMPANY UNDER THE
ADVICE OF COUNSEL TO THE COMPANY TO PROVIDE AS MUCH FINANCIAL AND OTHER
INFORMATION TO THE PUBLIC AS IS POSSIBLE.
ITEM 2.06 MATERIAL IMPAIRMENTS
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As of the date of this report, the company owes Rotenberg & Company, Its former
auditors, approximately $85,000 in unpaid invoices for accounting work performed
On behalf of the Company. In order to prepare an audited financial statement,
the Company will require the consent of Rotenberg & Company, which means
Rotenberg & Company will have to be paid in full. The Company expects to begin
work with its new CPA on an unaudited review financial statement of the Company,
consolidated on a account of its recent merger, with such work to commence
within the month of September, 2004.
Section 9 - Financial Statement and Exhibits
ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS
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MANAGEMENT REPRESENTATION OF THE FINANCIAL CONDITION OF THE COMPANY:
(INSERT FINANCIAL STATEMENT)
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.
STRUTHERS, INC.
(Registrant)
Dated: September 10, 2004 By: /s/ Douglas W. Beatty
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Douglas W. Beatty
President & CEO