August 28, 2006
On August 28,2006, Michael P. Goldowsky incorporates GMT Heart, Inc. in New York State, as a Domestic New York State Corporation
September 12, 2006
I received an official notification in writing from Michael Goldowsky informing me of the formation of the new company GMT Heart, Inc. The notification also stated that Michael Goldowsky was the primary stock owner, and that he was gifting stock in GMT Heart to those individual investors who qualify having a “basis”. Attached were stock certificates in GMT Heart representing the same percentage ownership I had in Gold Medical Technologies.
The “basis” was defined as:
“Had invested in Gold Medical Technologies, Inc., beyond their initial investment. This may include having recently added a minimum of $600 by the September 8 deadline. For those who wanted to help financially but claimed hardship, the $600 was reduced or waived.”
The problem with this arbitrary declaration of selecting who gets equity in the new company and who doesn’t, imposed by Goldowsky, is that in the shareholders agreement, there is an amendment that clearly states that if Gold Medical should become insolvent, dissolved, bankrupt or other situation exists that results in the transfer of the Patent Rights back to Goldowsky, it is resolved that if a new corporation is formed or if in the future Goldowsky obtains ownership of the Patent Rights and receives financial gain, that each shareholder is entitled to a portion of the net proceeds identical to their percentage ownership of Gold Medical Technologies stock.
As indicated, the amendment does not provide any qualifiers such as the ones imposed by Goldowsky or otherwise, and thus anyone who owned shares in Gold Medical Technologies, Inc. has the same percentage ownership in subsequent companies that own the Patent Rights or in the Patent Rights themselves.
CLICK HERE to request a copy of the shareholders agreement amendment
March 20, 2008
Goldowsky registers GMT Heart, Inc. in South Carolina as a NY Foreign Corporation, and operates the NY based entity from his new residence in Myrtle Beach, South Carolina.
CLICK HERE to see document
July 18, 2008
On July 18, 2008 I came across a website on www.gmtheartpump.com which was hosted by Myrtle Beach Website Design. Goldowsky had apparently hired this company to design a website to solicit investors, and after they had done the work, he once again breached the agreement and did not pay them. The web design company then took down the website and uploaded a notice explaining to visitors why the website had been removed and alerted them to Goldowsky’s modus operandi.
CLICK HERE to see the warning.
May 12, 2010
Goldowsky dissolves GMT Heart, Inc.
Goldowsky fails to notifiy shareholders of the dissolution:
As a shareholder, I was never notified of the corporate dissolution, and as far as I know, other shareholders have told me that they were never notified either.