International Beverage Corporation, (formerly NASDAQ OTC BB: "IBVC"), has completed a merger with Global Entertainment Holdings/Equities, Inc. of Omaha, Nebraska, pursuant to the Merger Agreement entered into on August 27, 1998.
The name of the surviving company is Global Entertainment Holdings/Equities, Inc. and it's listed as "GAMM" on the NASDAQ OTC BB.
Pursuant to the terms of the Merger Agreement, Global Entertainment Shareholders received one-and-one half shares of restricted, authorized common stock, par value $.001, of International Beverage Corporation for each share of Global Entertainment Holdings/Equities Inc.'s, issued and outstanding common stock. One hundred percent of the stock was tendered in the exchange. Subsequent to the merger, the surviving company (GAMM) had 3,114,857 total common stock issued and outstanding of which 2,795,888 restricted shares were issued in the exchange under Rule 144 promulgated under the Securities Act of 1933.
GAMM, through its subsidiary Interactive Gaming and Wagering NV (IGW), is engaged in the development and licensing of proprietary internet gaming software within the thriving Internet gaming industry.
The company's online wagering software is currently being licensed by one active online sports wagering website, www.VIPsports.com, and one promotional website, www.VVsports.com.