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 (Date of earliest event reported): December 5, 2003
Global Yacht Services, Inc.
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(Exact name of small business issuer as specified in its charter)
Nevada 000-49616 88-0488686
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(State or other jurisdiction of Commission File Number (I.R.S. Employer
incorporation or organization) Identification No.)
7710 Hazard Center Drive, Suite E-415, San Diego, California, 92108
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(Address of principal executive offices)
619.990.0976
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(Issuer's Telephone Number)
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
STOCK SPLIT. On November 24, 2003, the Registrant's Board of Directors approved
a 4.275 for 1 stock split of the Registrant's issued and outstanding common
stock was effectuated on December 5, 2003 through a dividend of 3.275 shares for
each share of common stock outstanding as of the record date.
The forward split was effectuated to facilitate the proposed merger with
DeliaTroph Pharmaceuticals, Inc., dba Hyalozyme Therapeutics, Inc.
("Hyalozyme"), which was previously disclosed in the Registrant's Quarterly
Report on Form 10-QSB for the period ended September 30, 2003. The Registrant
hopes to conclude this transaction during January 2004. The Registrant also
hopes that this transaction will increase the value of its common stock to its
shareholders, however, there is no guarantee that the Registrant will be able to
consummate the transaction with Hyalozyme or that, if consummated, the
acquisition will increase the value of its common stock. The Registrant intends
to continue providing its yacht maintenance, charter and delivery services until
such time as the transaction with Hyalozyme is consummated.
The dividend will be payable on December 10, 2003, for shareholders of record on
December 4, 2003. After the split, the total number of the Registrant's issued
and outstanding shares of common stock will be approximately 8,196,359 shares.
The Registrant's common stock will continue to be $0.001 par value. Fractional
shares will be rounded upward.
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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, thereunto duly authorized.
Global Yacht Services, Inc.
December 5, 2003 By: /s/ Mitch Keeler
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Mitch Keeler, President and
Chief Executive Officer
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