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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 10-QSB
(Mark One)
|X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2004
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|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File No.: 000-50944
GLOBAL RESOURCE CORPORATION
(Exact name of registrant as specified in its charter)
NEVADA 84-1565820
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2820 LA MIRADA, SUITE H
VISTA, CA 92081
(Address of principal executive offices)
Issuer's telephone number: (760) 599-0775
ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(Former name, former address and former fiscal year,
if changed since last report)
-------------------
Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
APPLICABLE ONLY TO CORPORATE ISSUERS
As of November 12, 2004, 4,360,034 shares of Global Resource's common stock were
outstanding.
Transitional Small Business Disclosure Format: Yes |_| No |X|
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PART 1: FINANCIAL INFORMATION
ITEM 1 - CONDENSED FINANCIAL STATEMENTS
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Balance Sheet
September 30,
2004
-----------
(Unaudited)
ASSETS
CURRENT ASSETS $ --
-----------
FIXED ASSETS, NET --
-----------
TOTAL ASSETS - DISCONTINUED OPERATIONS $ --
===========
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable $ 9,064
Accounts payable - related party 17,080
Convertible debentures (Note 4) 25,000
-----------
Total Current Liabilities 51,144
-----------
STOCKHOLDERS' DEFICIT
Preferred Stock: 50,000,000 shares authorized of $0.001
par value, no shares issued and outstanding --
Common stock: 2,000,000,000 shares authorized, of
$0.001 par value, 2,400,000 shares issued and outstanding 2,400
Additional paid-in capital (deficit) 6,871,660
Deficit accumulated during the development stage (6,925,204)
-----------
Total Stockholders' Deficit (51,144)
-----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ --
===========
The accompanying notes are an integral part of these financial statements.
2
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Statements of Operations
(Unaudited)
From
inception
For the three For the six on March 28,
months ended months ended 2000 through
September 30, September 30, September 30,
----------------------------- --------------------------------
2004 2003 2004 2003 2004
------------- -------------- -------------- ---------------- ---------------
REVENUES $ -- $ -- $ -- $ -- $ --
OPERATING EXPENSES 76,144 1,674,072 76,144 1,995,000 76,144
------------- -------------- -------------- -------------- --------------
LOSS BEFORE
DISCONTINUED OPERATIONS (76,144) (1,674,072) (76,144) (1,995,000) (76,144)
------------- -------------- -------------- -------------- --------------
LOSS FROM DISCONTINUED
OPERATIONS (NOTE 3) -- -- (116,946) -- (6,849,060)
------------- -------------- --------------- -------------- --------------
NET LOSS $ (76,144) $ (1,674,072) $ (193,090) $ (1,995,000) $(6,925,204)
============= ============== ============== ============== ==============
BASIC LOSS PER SHARE
Continuing Operations $ (0.03) $ (0.04) $ (0.03) $ (0.07)
Discontinued Operations -- -- (0.05) --
------------- -------------- -------------- --------------
Total Loss per Share $ (0.03) $ (0.04) $ (0.08) $ (0.07)
============= ============== ============== ==============
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING 2,400,000 41,467,798 2,400,000 30,056,878
============= ============== ============== ==============
Note: The three and six months ending September 30, 2003 represent operations
for Advanced Healthcare Technologies, Inc., prior to the change of control, the
reverse merger, or the spin-off of NutraTek, LLC.
The accompanying notes are an integral part of these financial statements.
3
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Statements of Cash Flows
(Unaudited)
From
Inception
For the six on
months ended March 28, 2000
September 30, through
-------------------------- September 30,
2004 2003 2004
----------- ----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (193,090) $(1,955,000) $(6,925,204)
Adjustments to reconcile net loss to net cash
used by operating activities:
Depreciation and amortization 509 -- 821
Equity issuances for stock -- 1,717,890 6,786,535
Services provided for shareholder
advances -- 191,652 --
Noncash interest expense related to
beneficial conversion feature of debt 25,000 -- 25,000
Changes in assets and liabilities :
Increase in accounts payable 9,064 (8,071) 9,064
Increase in accounts payable -
related party 17,080 -- 17,080
Decrease in accrued expenses -- (32,477) --
Changes in discontinued assets and liabilities 106,679 -- (265,440)
----------- ----------- -----------
Net Cash Used by Operating Activities (34,758) (86,006) (352,144)
----------- ----------- -----------
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets -- -- (11,858)
----------- ----------- -----------
Net Cash Used by Investing Activities -- -- (11,858)
----------- ----------- -----------
CASH FLOWS FROM FINANCING ACTIVITIES
Common stock sold or subscribed for cash -- 15,000 268,150
Repayment of related party loans -- -- (70,325)
Advances to affiliated company -- -- (55,380)
Repayment of advances to affiliated company -- 28,000 50,000
Loans from related party -- 5,400 67,225
Cash used for partner draw (12,006) -- (25,422)
Cash contributed by former officer 20,000 -- --
Proceeds from issuance of note payable 15,500 25,000 91,018
Proceeds from convertible debenture 25,000 -- 25,000
Change from cash overdraft (13,736) -- 13,736
----------- ----------- -----------
Net Cash Provided by Financing
Activities 34,758 73,400 364,002
----------- ----------- -----------
The accompanying notes are an integral part of these financial statements.
4
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Consolidated Statements of Cash Flows (Continued)
(Unaudited)
From
Inception
on
For the three March 28,
months ended 2000
September 30, through
----------------------- September 30,
2004 2003 2004
---------- ---------- ----------
NET INCREASE (DECREASE) IN CASH -- (12,606) --
CASH AT BEGINNING OF PERIOD -- 12,684 --
---------- ---------- ----------
CASH AT END OF PERIOD $ -- $ 78 $ --
========== ========== ==========
CASH PAID FOR
Interest $ -- $ -- $ 659
Income taxes $ -- $ -- $ --
SCHEDULE OF NON CASH FINANCING ACTIVITIES
Contributed capital by shareholders $ 247,546 $ -- $ 247,546
Note: The three and six months ending September 30, 2003 represent operations
for Advanced Healthcare Technologies, Inc., prior to the change of
control, the reverse merger, or the spin-off of NutraTeck, LLC.
The accompanying notes are an integral part of these financial statements.
5
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Notes to the Financial Statements
September 30, 2004 and March 31, 2004
NOTE 1 - FINANCIAL STATEMENTS
The accompanying financial statements have been prepared by the
Company without audit. In the opinion of management, all adjustments
(which include only normal recurring adjustments) necessary to
present fairly the financial position, results of operations and
cash flows at September 30, 2004 and for all periods presented have
been made.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with accounting
principles generally accepted in the United States of America have
been condensed or omitted. It is suggested that these financial
statements be read in conjunction with the financial statements and
notes thereto included in the Company's March 31, 2004 audited
consolidated financial statements. The results of operations for the
period ended September 30, 2004 are not necessarily indicative of
the operating results for the full year.
NOTE 2 - CHANGE OF CONTROL
On June 30, 2004, the Company's president and CEO entered into an
agreement to sell his controlling interest in the Company and retain
the operations and activities of NutraTek, LLC. In connection with
this change in control the Company's president and CEO, vice
president and chief scientific officer, as well as the Company's
secretary resigned. Additionally, five individuals resigned as
directors of the Company. The individual gaining controlling
interest was appointed to fill these vacancies.
Concurrent with the above mentioned events the Company settled
$247,546 of accounts payable debt by reallocating a total of 250,002
shares of common stock, which had previously been issued to a number
of different related entities in exchange for their forgiveness of
the debt as well as payment of $10,000.
At March 31, 2004, the financial statements had been presented in a
reverse merger format with NutraTek, LLC being reported as the
accounting entity and Advanced as the legal entity. Accordingly the
inception date had been presented as March 2003 which was the
inception date of NutraTek. With NutraTek being returned to its
former owner at June 30, 2004, Advanced is the only remaining
entity. The inception date of Advanced was on March 28, 2000.
Advanced is now the remaining accounting and legal entity.
NOTE 3 - DISCONTINUED OPERATIONS
On June 30, 2004, the Company's CEO entered into an agreement to
sell 1,260,000 of the Company's common stock and his controlling
interest to an unrelated individual. This resulted in the Company's
wholly owned subsidiary, NutraTek, LLC, being spun off and left
Advanced Healthcare Technologies, Inc. as the remaining shell
company.
6
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Notes to the Financial Statements
September 30, 2004 and March 31, 2004
NOTE 3 - DISCONTINUED OPERATIONS (Continued)
All assets were associated with the discontinued operations as well
as all of the liabilities except for $247,546 which was associated
with Advanced. See Note 2 for a discussion on the settlement of this
debt associated with Advanced.
The operations of Nutratek are for the three months ended March 31,
2004 because NutraTek had a December 31 year end.
For the three months
ended,
March 31, 2004
--------------------
REVENUES $ 15,349
Cost of goods sold 4,108
--------------------
Gross profit 11,241
--------------------
OPERATING EXPENSES
Payroll 53,930
Rent 2,271
Professional fees 49,104
Depreciation 509
General and administrative 21,362
--------------------
Total Operating Expenses 127,175
--------------------
LOSS FROM OPERATIONS (115,935)
--------------------
OTHER EXPENSE
Interest Expense (1,011)
--------------------
Total Other Expense (1,011)
--------------------
NET LOSS $ (116,946)
--------------------
BASIC LOSS PER SHARE $ (0.05)
====================
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING 2,400,000
====================
7
GLOBAL RESOURCE CORPORATION
FORMERLY ADVANCED HEALTHCARE TECHNOLOGIES, INC.
(A DEVELOPMENT STAGE COMPANY)
Notes to the Financial Statements
September 30, 2004 and March 31, 2004
NOTE 4 - BENFICIAL COVERSION FEATURES OF DEBT
Global Resource Corporation recognized a beneficial conversion
feature for a convertible debenture issued in the third quarter as
discount on the convertible debentures and as additional paid-in
capital. This discount of $25,000 has been amortized as non-cash
interest expense during the quarter.
NOTE 5 - GOING CONCERN
The Company's financial statements are prepared using the accounting
principles generally accepted in the United States of America
applicable to a going concern, which contemplates the realization of
assets and liquidation of liabilities in the normal course of
business. However, the Company has had a change in control and has
changed its business plan and it has not generated any revenues. The
future of the Company is dependent upon its ability to obtain
financing and upon future profitable operations from the development
of its new business opportunities. Management plans to research
possible acquisitions of various entities and an officer of the
Company has agreed to loan the Company funds as needed to sustain
business for a period of twelve months. However, the Company is
dependent upon its ability to secure equity and/or debt financing
and there are no assurances that the Company will be successful,
without sufficient financing it would be unlikely for the Company to
continue as a going concern.
These conditions raise substantial doubt about the Company's ability
to continue as a going concern. These financial statements do not
include any adjustments that might arise from this uncertainty.
NOTE 6 - SIGNIFICANT EVENTS
During the second quarter the Company amended their Articles of
Incorporation to increase their shares of common stock authorized
from 500,000,000 to 2,000,000,000 and to increase their shares of
preferred stock authorized from 5,000,000 to 50,000,000. In
addition, during the second quarter, the Company had a 1 for 100
reverse stock split, which changed their number of issued and
outstanding shares of common stock from 240,000,000 to 2,400,000.
All references to common stock have been retroactively restated.
During the second quarter the Company changed the name of the
Company from Advanced Healthcare Technologies, Inc. to Global
Resource Corporation. Additionally, the Company notified the
Securities and Exchange Commission of their desire to be regulated
as a Business Development Company, pursuant to the provisions of
section 54(a) of the Investment Company Act of 1940 (the "Act") to
be subject to the provisions of sections 55 through 65 of the Act.
NOTE 7 - SUBSEQENT EVENTS
Subsequent to September 30, 2004, the Company has sold approximately
1,960,000 shares of its common stock pursuant to a stock offering of
up to 1,000,000,000 shares at an offering price per share between
$0.005 and $.05. This includes 175,000 shares related to the
conversion of a portion of the convertible debenture described in
Note 4 above.
8
ITEM 2 - PLAN OF OPERATION
The following discussion and analysis should be read in conjunction with
our unaudited consolidated condensed financial statements and related notes
included in this report. This report contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. The
statements contained in this report that are not historic in nature,
particularly those that utilize terminology such as "may," "will," "should,"
"expects," "anticipates," "estimates," "believes," or "plans" or comparable
terminology are forward-looking statements based on current expectations and
assumptions.
Various risks and uncertainties could cause actual results to differ
materially from those expressed in forward-looking statements. All
forward-looking statements in this document are based on information currently
available to us as of the date of this report, and we assume no obligation to
update any forward-looking statements. Forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause the actual
results to differ materially from any future results, performance or
achievements expressed or implied by such forward-looking statements.
CHANGE OF CONTROL
On June 30, 2004, Richard Mangiarelli purchased 126,000,000 shares of
Global Resource common stock from its former President, Chief Executive Officer,
Director, and majority stockholder, Johnny Sanchez. As a result, Mr. Mangiarelli
now holds approximately 52.5% of the issued and outstanding common stock of
Global Resource.
In connection with this change in control, Mr. Sanchez resigned as Global
Resource's President and Chief Executive Officer, Joel Rockwood resigned as its
Vice President and Chief Scientific Officer, and Michael MacArthur resigned as
its Secretary. The board of directors appointed Mr. Mangiarelli as the new
President, Chief Financial Officer, and Secretary. In addition, Mr. Sanchez, Mr.
Rockwood, Virginia Sanchez, Carmen Sanchez, and Joe V. Overcash resigned as
directors of Global Resource. The outgoing directors appointed Richard
Mangiarelli to fill the vacancies on the board.
On June 30, 2004, Global Resource entered into a Release and Indemnity
Agreement with Johnny Sanchez, its former President, Chief Executive Officer,
Director, and majority stockholder, pursuant to which Global Resource sold the
all of its membership interest in NutraTek to Mr. Sanchez in exchange for Mr.
Sanchez's agreement to do the following: (a) release Global Resource from any
and all claims that Mr. Sanchez may have had against Global Resource; (b)
indemnify Global Resource for any and all claims against or liabilities of
Global Resource that existed before June 30, 2004, and (c) to cooperate with and
assist Global Resource in connection with its reporting obligations or filing
requirements under the Securities Act of 1933, as amended, and Securities
Exchange Act of 1934, as amended, and to deliver such other instruments and take
such other actions as may be reasonably requested by Global Resource in order to
carry out the intent of the agreement.
As a result of the spin-off of Nutratak, Global Resource currently has no
operations. Before the change of control described above, Global Resource's
principal business and operations were those of NutraTek. NutraTek researched,
developed, and thereafter contracted with third parties to manufacture its own
line of nutritional dietary supplements, functional food products and natural
sweeteners.
Global Resource's new management has decided to terminate the nutritional
products business and become a business development company. As a business
development company, Global Resource shall focus on making investments in
securities, and making available significant managerial assistance with respect
to the issuers of such securities, of companies that meet the following
criteria:
A. is organized under the laws of, and has its principal place of business
in, one of the states of the United States;
B. is not an investment company, as defined in the Investment Company Act
of 1940; and
C. satisfies one of the following:
9
1. it does not have any class of securities with respect to which a
member of a national securities exchange, broker, or dealer may extend or
maintain credit to or for a customer pursuant to rules or regulations
adopted by the Board of Governors of the Federal Reserve System under
section 7 of the Securities Exchange Act of 1934;
2. it is controlled by a business development company, either alone
or as part of a group acting together, and such business development
company in fact exercises a controlling influence over the management or
policies of such eligible portfolio company and, as a result of such
control, has an affiliated person who is a director of such eligible
portfolio company;
3. it has total assets of not more than $ 4,000,000, and capital and
surplus (shareholders' equity less retained earnings) of not less than $
2,000,000, except otherwise allowed by the Securities and Exchange
Commission; or
4. it meets such other criteria as management may establish
consistent with the rules and regulations of the Securities and Exchange
Commission.
Global Resource is currently evaluating prospective eligible portfolio
companies for investment, and it intends to continue to do so over the next
twelve months. In that time period, Global Resource intends to hire from six to
up to fifty employees, depending on the nature of the portfolio companies in
which it invests. Global Resource has established a stock option plan in order
to attract and retain employees and to provide employees who make significant
and extraordinary contributions to Global Resource's long-term growth and
performance with equity-based compensation incentives.
Global Resource intends to retain any future earnings to finance the
expansion of its business and any necessary capital expenditures, and for
general corporate purposes.
LIQUIDITY AND CAPITAL RESOURCES
Global Resource currently has limited working capital with which to
satisfy its cash requirements, and it will require additional capital in order
to conduct operations. Global Resource anticipates that it will need at least
$250,000 in additional working capital in order to sustain operations for the
next 12 months. This requirement may increase substantially, depending on the
nature and capital requirements of the business opportunities it elects to
pursue. In order to obtain the necessary working capital, Global Resource has
commenced an offering of its common stock pursuant to Regulation E of the
Securities Act of 1933, as amended. This offering is ongoing, and it may not
provide Global Resources with the capital necessary to fund its operations. In
the event that Global Resource is unable to obtain necessary capital from such
offering, management may provide additional financing for Global Resource.
OFF BALANCE SHEET ARRANGEMENTS
Global Resource does not have any off-balance sheet financing
arrangements.
ITEM 3 - CONTROLS AND PROCEDURES
Our disclosure controls and procedures are designed to ensure that
information required to be disclosed in reports that we file or submit under the
Securities Exchange Act of 1934 is recorded, processed, summarized and reported
within the time periods specified in the rules and forms of the Securities and
Exchange Commission. Our Chief Executive Officer and Chief Financial Officer has
reviewed the effectiveness of our "disclosure controls and procedures" (as
defined in the Securities Exchange Act of 1934 Rules 13a-14(c) and 15d-14(c))
within the last ninety days and has concluded that the disclosure controls and
procedures are effective to ensure that material information relating to Global
Resource Corporation is recorded, processed, summarized, and reported in a
timely manner. There were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
last day they were evaluated by our Chief Executive Officer and Chief Financial
Officer.
10
It should be noted that any system of controls, however well designed and
operated, can provide only reasonable, and not absolute, assurance that the
objectives of the system are met. In addition, the design of any control system
is based in part upon certain assumptions about the likelihood of future events.
Because of these and other inherent limitations of control systems, there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions. As a small organization, the effectiveness of
our controls heavily depends on the direct involvement of our Chief Executive
Officer and Chief Financial Officer.
PART II: OTHER INFORMATION
ITEM 1 - LEGAL PROCEEDINGS
None.
ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(a)
1. On September 15, 2004, Global Resource borrowed $25,000 from
Javelin Holdings, Inc. and, in connection therewith, delivered a convertible
debenture to Javelin Holdings in the principal amount of $25,000. The note is
due on February 1, 2005 and bears interest at a rate of eight percent (8%). The
note is convertible into shares of Global Resource's common stock at a floating
conversion price of fifty percent (50%) of the closing bid price per share on
the day of conversion, or at the lowest price allowable as set by Global
Resource in an effective registration statement or exemption notification as
filed with the Securities and Exchange Commission. Global Resource is obligated
to register the resale of the shares of common stock issuable upon conversion of
the debenture under the Securities Act of 1933, as amended, or to otherwise
provide an acceptable exemption to registration under Regulation E of the
Securities Act of 1933, as amended. The issuance was exempt under Section 4(2)
of the Securities Act.
2. On September 27, 2004, Global Resource commenced an offering of
up to 1,000,000,000 shares its common stock at an offering price per share
between $0.005 and $0.05. To date, Global Resource has sold approximately
1,960,000 shares pursuant to the offering, including approximately 175,000 upon
conversion of a portion of the debenture described above. The issuance was
exempt pursuant to Section 3(b) of the Securities Act and Regulation E
thereunder.
(b) None.
(c) None.
ITEM 3 - DEFAULT UPON SENIOR SECURITIES
(a) None.
(b) None.
ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
On August 30, 2004, stockholders holding 126,000,000 shares of pre-split
common stock, which was, at the time, a majority of the voting power of Global
Resource, took action by written consent for the purpose taking the following
action:
1. Approving an amendment to Global Resource's articles of incorporation,
which became effective on September 10, 2004, to do the following:
(a) increase the number of shares of common stock that Global
Resource is authorized to issue from 500,000,000 to 2,000,000,000;
(b) increase the number of shares of undesignated preferred
stock that Global Resource is authorized to issue from 5,000,000 to
50,000,000;
11
(c) authorize the board of directors, without the consent of
the stockholders of Global Resource, to adopt any recapitalization
affecting the outstanding shares of capital stock of Global Resource
by effecting a forward or reverse split of all of the outstanding
shares of any class of capital stock of Global Resource, with
appropriate adjustments to Global Resource's capital accounts,
provided that the recapitalization does not require any amendment to
the Articles of Incorporation of Global Resource; and
(d) change the name of the corporation to "Global Resource
Corporation."
2. Adopting amended and restated bylaws of Global Resource;
3. Approving and adopting the Global Resource 2004 Stock Option Plan,
which provides for the grant, at the discretion of the board of directors, of
options to purchase up to 25,000,000 shares of capital stock of Global Resource,
all upon the terms and subject to the provisions of the plan; and
4. Approving Global Resource's offer and sale through a public offering of
shares of Global Resource's capital stock pursuant to the stock option plan and
the filing of a registration statement on Form S-8 under the Securities Act of
1933, as amended with respect to the same.
On September 16, 2004, stockholders holding 1,260,000 shares of common
stock, which was, at the time, a majority of the voting power of Global
Resource, took action by written consent for the purpose of approving an
amendment to Global Resource's articles of incorporation to change the par value
of its common stock and preferred stock from $0.001 to $0.000001. The amendment
to the articles of incorporation effectuating this change has not yet been filed
with the Nevada Secretary of State.
ITEM 5 - OTHER INFORMATION
(a) None.
(b) None.
ITEM 6 - EXHIBITS
Item No. Description Method of Filing
-------- ----------- ----------------
31.1 Certification of Richard Mangiarelli pursuant to Filed electronically herewith.
Rule 13a-14(a)
32.1 Chief Executive Officer and Chief Financial Officer Filed electronically herewith.
Certification pursuant to 18 U.S.C. ss. 1350 adopted
pursuant to Section 906 of the Sarbanes Oxley Act of
2002
12
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.
GLOBAL RESOURCE CORPORATION
November 12, 2004 /s/ Richard Mangiarelli
----------------------------------------
Richard Mangiarelli
President and Chief Executive Officer
(Principal Executive Officer, Principal
Financial Officer, and
Principal Accounting Officer)
13