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: August 16, 2002
GLOBAL ASSETS AND SERVICES, INC.
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(New name of registrant as specified in its charter)
(successor registrant under Sec. 12(g)3 of the Securities Exchange Act of 1934)
FLORIDA 33-41063-A 59-2960590
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.
incorporation post-merger)
post-merger)
3816 W. Linebaugh Avenue, Suite 200, Tampa, FL 33624
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(NEW ADDRESS)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (813) 960-0557
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
None.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
None.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
None.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
None.
ITEM 5. OTHER EVENTS
On May 16, 2002 Global Assets & Services executed a Software License Agreement
with M-Cube Corporation of Japan, a subsidiary of Focus Systems Corporation.
Focus Systems is a publicly listed company on the Tokyo JASDAQ Market with
symbol code 4662. The licensing agreement applies to a new chaos theory
encryption software package suitable for data security and wireless/internet
communications.
Focus Systems Corporation has been heavily involved in the development of
software for the telecommunications field. This involvement has led to research
into information security issues along with the development of encryption
systems. While Focus was examining several approaches to information security it
developed a very secure, fast and multi-platform compatible package that is now
known as C4S and C4K. C4S and C4K utilize technology based on a chaotic signal,
a key of variable length, and two-stage encryption while maintaining a super
fast encryption speed of up to 344.44 Mbps. C4S C4K utilize JAVA compatibility,
which enables it to allow multiple-platforms. The domestic patent in Japan was
granted in February 2001. The open system approach and high speed translate to
wide application in broadband networks.
Teaming Agreement
On July 23, 2001 Global Assets & Services signed a teaming agreement with
Geosystems Inc. to evaluate and market encryption software based on the C4S and
C4K technology to the government and commercial market.
Geosystems is a privately held company that has a senior management team with
extensive experience in Government technology fields and sales to the
government. This expertise provides the ability to introduce the software for
testing to the appropriate Governmental agencies. Contacts with several Fortune
100 companies within the telecommunications industry have already been
established through other ongoing commercial projects. These relationships may
be instrumental in the rapid introduction of this software into the personal
communications systems market.
The C4S/C4K software suite may provide the commercial cellular and Internet
industries the ability to outfit end-users with a more secure connectivity
across the Internet and the airwaves. Management believes that the C4 software
suite is a far more advanced technology than existing known solutions, and has
already been successfully tested on e-mail applications, wireless text
messaging, hand held devices, and on streaming video transmissions that exceed
market expected speeds for encryption. The U.S is mainly utilizing 128-bit
encryption schemes. The C4 suite offers users a selectable 8-bit to infinity
encryption scheme. The scalability of encryption level may allow the C4 software
suite to be a possible solution set targeted at the information transmission and
storage arena.
ITEM 6. RESIGNATION AND APPOINTMENT OF OFFICERS AND DIRECTORS
As of August 3, 2002 Thomas L. McCrimmon resigned as Director and President
of the Company.
As of August 12, 2002, Mr. Bertram Cutler was appointed President and Mr. Saburo
Oto was appointed Director of the Company.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIALS, & EXHIBITS
Financial Statements -
None.
Exhibits - 10.1 Teaming Agreement
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 thereunto duly authorized.
Date: August 16, 2002 GLOBAL ASSETS & SERVICES, INC.
Bertram Cutler
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Bertram Cutler, President