Form 8-K - Current report

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): October 31, 2024

 

GLOBAL ACQUISITIONS CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

Nevada		000-24970		88-0203976
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1120 N. Town Center Dr #160     Las Vegas, NV		89144
(Address of Principal Executive Offices)		(Zip Code)

 

Registrant’s telephone number, including area code: [phone]

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

 

Securities registered pursuant to Section 12(b) of the Act: None.

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company [ ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(b) On October 31, 2024, John Boreta resigned as a member of the Board of Directors of Global Acquisitions Corporation (the “Company”). Mr. Boreta’s resignation was not the result of any disagreement with the Company.

 

(d) Also effective on October 31, 2024, effective immediately after the resignation of Mr. Boreta, the Board of Directors appointed James Askew as a member of the Board of Directors. Mr. Askew will serve until the Company’s next annual meeting of stockholders, until his successor has been duly elected and qualified, or until his earlier death, resignation or removal.

 

At the same time, the Board, pursuant to the power provided to the Board by the Company’s Bylaws, set the number of members of the Board at three (3) members.

 

The Board does not currently have any committees.

 

Mr. Askew is not party to any material plan, contract or arrangement (whether or not written) with the Company, except for the Warrants and Consulting Agreement (discussed and described in greater detail in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on July 5, 2024), and there are no arrangements or understandings between Mr. Askew and any other person pursuant to which Mr. Askew as selected to serve as a director of the Company, nor is Mr. Askew a participant in any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K, except as discussed above.

 

                Mr. Askew’s biographical information is disclosed below:

 

                James Askew, age 60

 

                Since December 2023, Mr. Askew has served as Chairman, President, and Chief Executive Officer of Data Gumbo Intelligent Systems, Inc.  Since November 2020, Mr. Askew has served as an advisor of the Company.  Mr. Askew has been a co-founder and advisor to Verde Clean Fuels (Nasdaq:VGAS) since August 2020.  Mr. Askew has been an entrepreneur, investor, and capital markets advisor to various companies, primarily in the energy industry, with assets and operations in numerous jurisdictions throughout Africa and The America’s for more than thirty years.

 

Item 7.01 Regulation FD Disclosure.

 

On November 1, 2024, the Company issued a press release disclosing the Company’s change in business strategy to work to become a leader in the global sports entertainment and media industry.

 

A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated into this Item 7.01 by reference.

 

The Company is providing an updated presentation, a copy of which is furnished herewith as Exhibit 99.2 and incorporated into this Item 7.01 by reference. 

 

The information contained in Item 7.01 of this Current Report (and including Exhibits 99.1 and 99.2 hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

  

The press release and presentation furnished as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K, contain forward-looking statements, and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to the Company’s current expectations and are subject to the limitations and qualifications set forth in the presentation and press release, as well as in the Company’s other filings with the Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements. These statements also involve known and unknown risks, which may cause the results of the Company and its subsidiaries to be materially different than those expressed or implied in such statements. Accordingly, readers should not place undue reliance on any forward-looking statements. Forward-looking statements may include comments as to the Company’s beliefs and expectations as to future financial performance, events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the Company’s control. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, filed with the SEC and available at www.sec.gov, and specifically including the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 and Annual Report on Form 10-K for the year ended December 31, 2023. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description of Exhibit
99.1		Press Release of Global Acquisitions Corp. dated November 1, 2024
99.2		Presentation of Global Acquisitions Corp. (October 2024)
99.2		Presentation of Global Acquisitions Corp. (October 2024) (PDF)
104		Cover Page Interactive Data File (embedded within the Inline XBRL documents).

 

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.

 

	Global Acquisitions Corporation
	By:	/s/ Ronald S. Boreta
Date:  November 1, 2024	Name:	Ronald S. Boreta
	Title:	Chief Executive Officer

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Global Acquisitions Corp. Announces Global Sports Entertainment and

Media Operating Strategy

 

Las Vegas, NV, November 1, 2024 - Global Acquisitions Corp (“Global” or the “Company”) (OTC Pink:AASP) announced today that it has launched an operating strategy to become a leader in the global sports entertainment and media industry and is collaborating with tennis legend Andre Agassi, a long-time significant shareholder in the company. Global’s efforts are initially focused on court sports, beginning with planned growth opportunities associated with branding and growing the pickleball and padel industries, both of which are currently experiencing significant growth. Global expects its publicly traded structure to provide a way for the investing public to participate in these exciting and rapidly growing markets.

 

Mr. Agassi, a global sports icon having been a World Number 1, 8-time Grand Slam winner, and an Olympic Gold Medalist during his Hall of Fame tennis career, has become one of the highest profile leaders growing pickleball around the world through his participation, endorsements, and investments.

 

Commenting on the newly adopted strategic direction for Global, CEO Ronald Boreta stated, “We are excited to launch Global as an operating company by leaning into what we believe are our unique advantages to build value for our stakeholders, both now and in the future, by focusing on sports entertainment. We further believe we are ideally positioned in court sports through Andre’s global leadership in the industry to play a leading role in the consolidation of these highly exciting and expanding sports opportunities. To expedite our mission of building a dominant brand within the pickleball and padel industries, we plan to evaluate co-branding and acquisition opportunities with ‘Best of Class’ operators in key segments of these fast-growing markets. We look forward to working closely with Andre toward that goal.”

 

Adding to Mr. Boreta’s comments, Mr. Agassi stated[JSG31] , “Initially, I started playing pickleball for fun with family and friends. I quickly realized just what this sport can offer to peoples’ lives. It brings community together, bridges generational gaps and transcends cultural barriers, all while promoting health of body and mind. For these reasons and more, I am excited to support Global’s initiatives to grow the business of pickleball and the other racquet sports worldwide.”

 

Forward-Looking Statements

 

This press release includes “forward-looking statements”, including information about management’s view of the Company’s future expectations, plans and prospects. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially 

 

from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the ability of the Company to raise funding to support its operational plans, the terms of such financing and potential dilution caused thereby; the ability of the Company to compete the steps necessary to undertake its current operational plan, the costs associated therewith, timing relating thereto, and the ability of the Company to generate revenues associated therewith; the concentration of ownership of the Company’s securities; the market for the Company’s planned services, including the market for pickleball and padel; competition in the Company’s industry; the Company’s ability to fully comply with numerous federal, state and local laws and regulatory requirements; current negative operating cash flows and a need for additional funding to finance our operating plans; the terms of any further financing, which may be highly dilutive and may include onerous terms, increases in interest rates which may make borrowing more expensive and increased inflation which may negatively affect costs, expenses and returns; geopolitical events and regulatory changes; and the effect of changing interest rates and inflation, economic downturns and recessions, declines in economic activity or global conflicts. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. These reports and filings are available at www.sec.gov. All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, including the forward-looking statements included in this press release, which are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as otherwise provided by law.

 

Ron Boreta

Director and CEO

Global Acquisitions Corp.

702-400-4005

 

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Cover	Oct. 31, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 31, 2024
Entity File Number	000-24970
Entity Registrant Name	GLOBAL ACQUISITIONS CORPORATION
Entity Central Index Key	0000930245
Entity Tax Identification Number	88-0203976
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1120 N. Town Center Dr #160
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89144
City Area Code	(702)
Local Phone Number	317-7302
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false

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