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CURRENT BUSINESS INFORMATION: GFY Foods, Inc.owns and operates a beverage restaurant located in Buffalo Grove, Illinois.
HISTORICAL BUSINESS INFORMATION: The Company was originally organized in the State of Utah on May 13, 1981, under the name Oro Rico Ltd. and was involved in the oil and gas industry.
On August 16, 1994, the Company was merged into Tierra Rica Ltd., a Nevada corporation, with Tierra Rica being the surviving corporation.
On October 24, 1994, the Company filed a Certificate of Amendment with the Secretary of State of the State of Nevada, whereby it changed its name to Petrex Corporation.
In November 1998, the Company amended its Articles of Incorporation as a result of a merger, changing its name from Petrex Corporation to Institute of Cosmetic Surgery, Inc., a Houston-based company under the direction of Dr. Abdel K. Fustok.
The issued and outstanding stock of Institute of Cosmetic Surgery was reverse split 1-for-2, effective November 20, 1998.
In July of 2000, the Company again amended its Articles of Incorporation and changed the name of the Company back to the Petrex Corporation.
In April of 1999, Petrex Corporation, G.W. McDonald, and Cecil C. Wall entered into a Stock Purchase Agreement with I.C.S.C., Inc. Dr. Fustok for the purpose of involving the Company in the cosmetic surgery business. After the Stock Purchase Agreement was entered into significant differences arose between the parties to the agreement and the parties agreed to rescind the Stock Purchase Agreement. The rescission was handled pursuant to a Settlement and Rescission Agreement that placed the parties to the Stock Purchase Agreement in the position they were in prior to the Stock Purchase Agreement. During the period that the Stock Purchase Agreement was in force Petrex Corporation had no significant operations.
In October 2001, Petrex Corporation acquired Force 10 Trading, Inc., an emerging company with stock trading offices that cater to active stock traders. The flagship office of Force 10 opened in Salt Lake City, Utah with several experienced traders using a direct link to all major exchanges. The Force 10 model offers traders many advantages, which management believes will allow its traders to maximize their profits.
On January 2, 2002, Petrex Corporation announced that it had changed its name to Force 10 Trading, Inc. The Company also effectuated a twenty-for-one reverse stock split. With the name change and reverse stock split completed, Force 10 management is focusing its efforts on raising approximately $2.5 million to fuel growth of the trading offices and to advance the development of the proprietary trading platform.
On March 14, 2002, Force 10?s stock, which previously traded on the Pink Sheets, began trading on the OTC Bulletin Board. The Company?s management is focusing its efforts on raising approximately $1.5 million to fuel growth of the trading offices and to advance the development of the proprietary trading platform.
On May 13, 2002, Force 10 announced that it had launched a new website under the name of its wholly owned subsidiary, Capital Market Mentors, Inc. The web site affords current and potential clients of the Company access to stock trading strategies and mentoring with successful traders.
On July 19, 2002, Force 10 entered into a Stock Purchase Agreement to acquire all of the outstanding shares of common stock in Royal Oasis, Inc., a Nevada corporation.
On October 24, 2002, Force 10 announced that it had entered into a Letter of Intent to merge with B.F.L., Inc., a private oil company based in Texas. All of the existing operations of Force 10 will be placed in Capital Market Mentors, Inc. (CMM), a wholly owned subsidiary, which will continue to expand its product offerings and its revenue base. Eventually, CMM may be spun out as a separate public company or privatized. The contemplated merger with BFL will afford Force 10 an opportunity to gain value through participation in an industry currently experiencing excellent returns. Upon the execution of a Definitive Agreement, the terms of which have yet to be negotiated, the Company's goal will be to acquire a minimum of one producing well per month and substantially build its cash flow in every quarter.
On November 22, 2002, pursuant to the approval of the Board of Directors and a majority of shareholders, Force 10 Trading, Inc. amended its Articles of Incorporation to change its name to F10 Oil & Gas Properties, Inc. in addition to trading its trading symbol. The Company also effectuated a reverse stock split of its Common Stock so as to combine 300 issued and outstanding shares of Common Stock into 1 share of validly issued, fully paid and non-assessable Common Stock. The effective date of the reverse stock split will be December 3, 2002.
Effective January 27, 2004, the Company changed its name from F10 Oil & Gas Properties, Inc. to GFY Foods, Inc. and its ticker symbol from FTOG to GFYF.
