Belmont Partners Gains Controlling Interest in Global Link Technologies, Inc.WASHINGTON, Va. -- On November 26, 2007, Belmont Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Belmont") entered into a share purchase agreement with Linda Hawk, an individual, to convey greater than 50% of the outstanding Common Stock (the "Purchase Agreement") of Global Link Technologies, Inc., Pinksheets: GBLK GBLK Gain Block GBLK Gyro Block (the "Company"). Pursuant to the terms of the Purchase Agreement, a portion of the price for the Common Stock was paid at closing and Ms. Hawk pledged a first security interest in a minimum of 51% control of the Company (the "Pledged Collateral") to secure the remaining balance. Pursuant to the terms of the Purchase Agreement, Ms. Hawk was in default on December 27, 2007. Belmont provided written notice of the default to Ms. Hawk on January 3rd, January 8th, January 11th and January 22nd. Pursuant to the terms of the Purchase Agreement, Belmont elected to foreclose fore·close v. fore·closed, fore·clos·ing, fore·clos·es v.tr. 1. a. To deprive (a mortgagor) of the right to redeem mortgaged property, as when payments have not been made. b. on the Pledged Collateral. As a result of the default and Belmont's election to receive the Pledged Collateral in lieu of payments due, Belmont is now the majority shareholder of the Company and has acted by written consent to appoint Joseph Meuse as a Director of the Company. Belmont plans to remove members of the board of directors other than Mr. Meuse. About Belmont Partners Belmont Partners, LLC is an international consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a and leader in reverse mergers. The firm serves clients in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Asia. www.belmontpartners.net Important factors that could cause the actual results to differ materially from those in the forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix sales mix See product mix. , and the geographic mix of sales. The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions. |
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