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: January 9, 2004


                               GELSTAT CORPORATION
             (Exact name of registrant as specified in its charter)


          MINNESOTA                      0-21394               41-1713474
(State of other jurisdiction      (Commission File No.)       (IRS Employer
      of incorporation)                                   Identification Number)

            1650 WEST 82ND STREET, SUITE 1200, BLOOMINGTON, MN 55431
               (Address of principal executive offices) (Zip Code)


       Registrant's telephone number, including area code: (952) 881-4105

         (Former name, former address and former fiscal year, if changed
                              since last report):

                   5223 INDUSTRIAL BOULEVARD, EDINA, MN 55439



ITEM 4.   CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

     On  January  6,  2004,  GelStat  Corporation  ("GSC"),  formally  known  as
Developed Technology Resource, Inc., terminated Gallogly, Fernandez & Riley, LLP
("GFR") as its independent  auditor.  The termination of GFR was recommended and
adopted by our Audit  Committee  and  approved  by our Board of  Directors.  GFR
audited our financial  statements  for the fiscal year ended  December 31, 2002.
Our  financial  statements  for the fiscal  year ended  December  31,  2001 were
audited by KPMG, LLP.

     GFR's report on our financial statements for the fiscal year ended December
31, 2002 did not contain any adverse  opinion or  disclaimer of opinion and were
not qualified as to uncertainty,  audit scope or accounting  principles.  During
the recent fiscal year ended December 31, 2003, (i) there were no  disagreements
between  us  and  GFR on any  matter  of  accounting  principles  or  practices,
financial  statement  disclosure or auditing  scope or procedure  which,  if not
resolved to the  satisfaction of GFR, would have caused GFR to make reference to
the subject matter of the  disagreement  in connection with its reports and (ii)
there were no "reportable events," as defined in Item 304(a)(1)(v) of Regulation
S-K of the Securities and Exchange Commission (SEC). The decision to replace GFR
was not the  result  of any  disagreement  between  us and GFR on any  matter of
accounting  principle  or  practice,  financial  statement  disclosure  or audit
procedure.

     Concurrently,  on  January  6, 2004,  the Audit  Committee  of our Board of
Directors and our Board of Directors approved the appointment of Virchow, Krause
& Company, LLP ("VKCo") as our new independent accountant and auditor. VKCo will
audit our financial  statements to be included in the Form 10-KSB for the fiscal
year ending  December  31, 2003 and we intend to have VKCo  continue to serve as
our independent  accounting and audit firm  thereafter.  We did not consult with
VKCo on any matters  related to  accounting  principles  or practice,  financial
statement disclosures or audit procedures prior to selecting and appointing VKCo
as our auditor.

     We  furnished  GFR with a copy of this  Report  on Form 8-K prior to filing
with the SEC and  requested  that GFR furnish us with a letter  addressed to the
SEC stating  whether it agrees with the  statements  in this  Report.  A copy of
GFR's letter to the SEC is filed with this Report as Exhibit 16.1.

ITEM 7.   EXHIBITS

     16.1 Letter from Gallogly, Fernandez & Riley, LLP

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                                   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.


Dated: ________________, 2004           GELSTAT CORPORATION


                                        By ___________________________________
                                           Stephen C. Roberts, Chief Financial
                                           Officer (Principal accounting and
                                           financial officer) and Authorized
                                           Signatory

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