On May 7, 2004, the Registrant issued 2.5 billion shares of commonstock to its president, Edward Schwalb. Under the terms of the Registrant'semployment agreement with Mr. Schwalb, Mr. Schwalb is authorized to maintain anownership percentage of seventy percent (70%) of the outstanding shares of theRegistrant. After this stock issuance, Mr. Schwalb owns 3,782,250,000 shares, or62.77%, of the Registrant's 6,025,265,161 shares outstanding.

On May 5, 2004, the aforementioned employment agreement with Mr.Schwalb was amended to include a monthly salary of $25,000 per month.Additionally, Mr. Schwalb is due an acquisition fee of $70,000 for eachacquisition that he initiates and the Registrant closes during the term of theemployment agreement

GFY Foods, Inc. Finalizes Acquisition of the Willowbrook Frullati Cafe and Bakery
BUFFALO GROVE, Ill., May 13, 2004 /PRNewswire-FirstCall via COMTEX/ --
GFY Foods, Inc. (OTC Bulletin Board: GFYF) announced today that it has finalized the acquisition of the Frullati Cafe and Bakery franchise location in the Willowbrook Athletic Club in Willowbrook, IL. This location will become a wholly owned subsidiary of GFY Foods, Inc. and will maintain its primary location in the Willowbrook Athletic Club.
"This asset makes a great deal of sense to us, as it continues with our goal of acquiring Frullati franchises. Also, and importantly, it is located in a health club -- a venue with which we are familiar. This allows us to put in place an operational plan similar to the other locations, and can save money by combining some of our operations, said Ed Schwalb, President of GFY Foods, Inc. "Additionally the current management team has agreed so stay onboard for 90 days and help us to transition operations, to ensure there is no disruption in revenue and customer satisfaction."
The company now has three active locations regionally. It has plans to grow nationally by rolling out additional locations in key market segments and to work closely with the Kahala Corporation to acquire new restaurants. It hopes to open 8-10 new locations by the end of calendar 2004, in metropolitan areas where there is minimal competition and significant upside to build a brand and establish the company nationally.

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Originally posted by BobTheSlob:
I'll go around buying up Frulattis for $25000 a month! That seems pretty excessive to me for a company with their market cap and revenue.

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Originally posted by RichardC:
I'm out at .0012. I don't feel comfortable with the way this company is being run. The more DD I do on this one the less attractive it looks to me. Good luck to everyone still hangin' on!

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Originally posted by Nostradamus:
Hey Richard,
What did you find wrong with this company? Would appreciate your comments.

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Too many rumors flying around. I however have no proof of anything, nor do I really trust any rumor I see online. But it's enough to push me away. Rumors aside, everything looks good on this one, it looks like a possible breakout soon. I hope this thing really does fly, but I would just rather sit on the side lines and watch. Good luck!

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Originally posted by RichardC:
Too many rumors flying around. I however have no proof of anything, nor do I really trust any rumor I see online. But it's enough to push me away. Rumors aside, everything looks good on this one, it looks like a possible breakout soon. I hope this thing really does fly, but I would just rather sit on the side lines and watch. Good luck!

[This message has been edited by RichardC (edited May 19, 2004).]

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Originally posted by microproty:
Is this the bottom? Im in at .0011 and now .0009.... How low can this stock go? The chart shows this stock jumps big on PR's.. I will continue to average down, but I am ready for our PR.. Please let me know what you all think about this stock (good and bad)..

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Originally posted by Mainetrader:
I bought this around .005 a couple of months ago and sold at a big loss, I'm hoping it can earn my money back. I'll be putting in a buy order for this baby at .0001 to .0005, then its going to be my next QBID. :-)

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I DON'T THINK WE'RE GOING DOWN THAT FAR

On May 7, 2004, the Registrant issued 2.5 billion shares of commonstock to its president, Edward Schwalb. Under the terms of the Registrant'semployment agreement with Mr. Schwalb, Mr. Schwalb is authorized to maintain anownership percentage of seventy percent (70%) of the outstanding shares of theRegistrant. After this stock issuance, Mr. Schwalb owns 3,782,250,000 shares, or 62.77%, of the Registrant's 6,025,265,161 shares outstanding.

On May 5, 2004, the aforementioned employment agreement with Mr.Schwalb was amended to include a monthly salary of $25,000 per month.Additionally, Mr. Schwalb is due an acquisition fee of $70,000 for each acquisition that he initiates and the Registrant closes during the term of the employment agreement

Source: http://biz.yahoo.com/e/040512/gfyf.ob8-k.html

6,025,265,161 O/S, Ed owns 3,782,250,000, someone posted Float as 97MM, doesn't seem accurate to me. He also gets $25K per month and a $70K aquisitions fee. He's the only one going to make thousands off of this stock.

Doesn't mean it isn't worth playing. I have a modest number of free shares and might purchase more, and hope for another run. Seems to react well to Ed's aquisitions, and we know he likes getting $70K a shot, so it might be in the cards.