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CURRENT BUSINESS INFORMATION: Gateway Distributors, Ltd is a holding company that, through its subsidiary TRSG Corporation, does business as "The Right Solution", a network marketing company that sells whole food nutrition, environmental solutions, and health and dietary supplements throughout North America and Japan.
The Company believes that through special blends, whole foods, such as grains and vegetables, can be combined to help produce optimum health. The Company's products, approximately thirty (30) different nutritional and/or health products, are marketed through a network marketing system within the United States and wholesale personal import sales outside the United States.
Network marketing enables the Company's independent distributors in the United States to earn profits by selling Company products to retail consumers. Distributors may also develop their own distributor organizations by sponsoring others to do business in any market where the Company operates, entitling the sponsors to receive overrides or commissions on product sales within their organizations.
HISTORICAL BUSINESS INFORMATION: The Company was originally incorporated in the State of Nevada on May 26, 1993.
In March 1995, the Company purchased all of the assets of The Right Solution, Inc., a California corporation, which had filed for protection from its creditors under Chapter 7 of the United States Bankruptcy Code.
In August 1997, the company opened the Asian market in Japan. Japan has a population of 130 million, with annual revenues of 37.5 billion generated in network marketing. The companies' strength in the Japanese market stabilized the down turn in the U.S. market.
In May 1998, the Company completed the acquisition by merger of Hali Sales Corp. with the Company as the surviving corporation. Hali had no active operations at the time of the merger with the Company.
In January 1999, the Company acquired certain assets of NuTech International, Inc. NuTech was a network marketer that sold nutritional, health, and dietary supplements and products. In addition, the Company agreed that it would engage Aloe Commodities International, Inc. as the exclusive manufacturer of certain product lines that the Company purchased in the NuTech Acquisition.
In April 1999, the Company acquired certain assets of American Outback, Inc. in exchange for 67,400 shares of the Company's Common Stock. American Outback was a network marketer that sold nutritional, health and dietary supplements and products.
In September 1999, the Company acquired substantially all of the assets and assumed certain liabilities of TeamUp International, Inc.
In December 1999, the Company purchased certain assets of SuLin International. SuLin was a network marketing company with the concept that whole food cleans and detoxifies the body.
In July 2000, the Company acquired the assets and operations of Dynamic Products, Inc. in exchange for 160,750 shares of Company common stock. Dynamic Products is a multi-level marketing company focusing on cleaning products. As part of the acquisition of Dynamic Products, the Company acquired the distributor base, formulas and Patents of LifeTime Solutions, Inc. LifeTime Solutions was in the business of network marketing of nutritional, health, and dietary supplements and cleaning products.
In October 2000, the Company entered into a purchase agreement with Professional Wrestling Alliance Corporation (PWA), wherein the Company agreed to sell the bulk of its assets and its operating business, in exchange for shares of PWA stock equaling approximately 85% of the issued and outstanding shares of PWA.
On January 10, 2001, TRSG Corporation, formerly PWA, acquired the bulk of the Company?s assets and its operating business pursuant to the October agreement. TRSG became a 73.7% owned subsidiary of the Company.
On October 25, 2001, the Company began sales and marketing of hand-held, low-cost devices used to detect the presence of biological agents such as Anthrax, as well as many other biological agents.
On November 27, 2001, Images of Life, Inc. signed a letter of intent with the Company giving IMLF the rights to market and distribute the Company?s UV-light and Bio-Spray products.
On December 14, 2001, the Illinois Attorney General filed a lawsuit against the Company stating it had violated state fraud laws by falsely marketing black-light flashlights as anthrax-detection devices.
On December 20, 2001, the Company reached a settlement agreement with the Attorney General of Illinois by agreeing to make a one-time payment of $1,000 to the Attorney General Court Ordered and Voluntary Compliance Payment Projects Fund for Consumer Enforcement and Education. The Company denied any wrongdoing.
On January 4, 2002, the Company obtained an additional 8,000,000 shares of TRSG Corporation.
On May 31, 2002, the Company filed with the State of Nevada its amended Articles of Incorporation to increase the authorized shares of $0.001 par value common voting stock from 1,000,000,000 to 25,000,000,000.
In August 2002, the Company announced the signing of an agreement with Grandma Hammans Speciality Foods to purchase the entire assets and customer base of the business.
On December 6, 2002, the Company effected a 1 for 25,000 reverse stock split of its Common Stock.
Effective April 16, 2003, Gateway Distributors Ltd. changed its ticker symbol to GWDL. It also effected a 1 for 3000 reverse split of its common stock.