Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
Under
the Securities Exchange Act of 1934
(Amendment
No. )
*
|
GLOBETRAC
INC.
|
|
(Name
of Issuer)
|
|
common
stock, $0.001 par value per share
|
|
(Title
of Class of Securities)
|
|
37958H
10 6
|
|
(CUSIP
Number)
|
|
David
Patriquin
3438
Shuswap Road, Kamloops, British Columbia V2H 1T2
250-573-3777
|
|
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and
Communications)
|
|
August
8, 2008
|
|
(Date
of Event which Requires Filing of this
Statement)
|
If the
filing person has previously filed a statement on Schedule 13G to report the
acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following
box. [ ]
Note: Schedules
filed in paper format shall include a signed original and five copies of the
schedule, including all exhibits. See Rule 13d-1(a) for other parties
to whom copies are to be sent.
* The
remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information that would alter disclosures
provided in a prior cover page.
The
information required on the remainder of this cover page shall not be deemed to
be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(the “Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act.
Page
- - 1
CUSIP
No. 37958H 10
6
|
1.
|
Names
of Reporting Persons I.R.S. Identification Nos. of above persons (entities
only)
David
Patriquin
|
|||
|
2.
|
Check
the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ] Not
applicable
(b) [ ]
|
|||
|
3.
|
SEC
Use Only
|
|||
|
4.
|
Sources
of Funds (See Instructions)
PF
– Personal Funds
|
|||
|
5.
|
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or
2(e)
[ ] Not
applicable
|
|||
|
6.
|
Citizenship
or Place of Organization
Canadian
|
|||
|
Number of Shares Beneficially
Owned by Each Reporting Person With
|
7.
|
Sole
Voting
Power 20,870,626
|
||
|
8.
|
Shared
Voting
Power Nil
|
|||
|
9.
|
Sole
Dispositive
Power 20,870,626
|
|||
|
10.
|
Shared
Dispositive
Power Nil
|
|||
|
11.
|
Aggregate
Amount Beneficially Owned by Each Reporting Person
20,870,626
shares of common stock
|
|||
|
12.
|
Check
if the Aggregate Amount in Row (11) Exceeds Certain Shares (See
Instructions)
[ ] Not
applicable
|
|||
|
13.
|
Percent
of Class Represented by Amount in Row (11)
23.2%
|
|||
|
14.
|
Type
of Reporting Person (See Instructions)
IN
(Individual)
|
|||
Page
- - 2
Item
1. Security
and Issuer
This
statement on Schedule 13D relates to the shares of common stock, $0.001 par
value per share, of GlobeTrac Inc., a Nevada corporation (“GlobeTrac”). The
principal executive office of GlobeTrac is located at 610 – 1100 Melville
Street, Vancouver, British Columbia, V6E 4A6, Canada.
Item
2. Identity
and Background
|
(a)
|
David
Patriquin
|
|
(b)
|
3438
Shuswap Road, Kamloops, British Columbia, V2H 1T2,
Canada
|
|
(c)
|
Director
of GlobeTrac
|
|
(d)
|
During
the last five years, Mr. Patriquin has not been convicted in a criminal
proceeding.
|
|
(e)
|
During
the last five years, Mr. Patriquin was not a party to a civil proceeding
or a judicial or administrative body of competent jurisdiction where, as a
result, of such proceeding, there was or is a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any
violation with respect to such
laws.
|
|
(f)
|
Mr.
Patriquin is a citizen of Canada.
|
Item
3. Source
and Amount of Funds or Other Consideration
David
Patriquin has a beneficial interest in 20,870,626 shares of common stock
of GlobeTrac.
On August
8, 2008, Mr. Patriquin was issued 20,550,626 restricted shares of common stock
of GlobeTrac at a deemed price of US$0.025 per share pursuant to the terms and
conditions of an agreement with GlobeTrac dated June 23, 2008 to convert the
principal of a loan into shares of common stock of GlobeTrac. See
Exhibit 99.1 – Form of Agreement for more details.
Item
4. Purpose of Transaction
David
Patriquin acquired the 20,550,626 shares in GlobeTrac as payment for an
outstanding loan pursuant to the terms and conditions of an agreement with
GlobeTrac to convert the loan principal into shares of common stock of
GlobeTrac.
Depending
on market conditions and other factors, Mr. Patriquin may acquire additional
securities of GlobeTrac as Mr. Patriquin deems appropriate, whether in open
market purchases, privately negotiated transactions, private placements with
GlobeTrac or otherwise. Mr. Patriquin also reserves the right to
dispose of some or all of his shares in the open market, in privately negotiated
transactions to third parties or otherwise.
As of the
date of this document, Mr. Patriquin does not have any plans or proposals that
relate to or would result in:
|
(1)
|
the
acquisition by any person of additional securities of GlobeTrac, or the
disposition of securities of
GlobeTrac;
|
|
(2)
|
an
extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving GlobeTrac or any of its
subsidiaries;
|
|
(3)
|
a
sale or transfer of a material amount of assets of GlobeTrac or any of its
subsidiaries;
|
|
(4)
|
any
change in the present board of directors or management of GlobeTrac
including any plans or proposals to change the number or term of directors
or to fill any existing vacancies on the
board;
|
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(5)
|
any
material change in the present capitalization of dividend policy of
GlobeTrac;
|
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(6)
|
any
other material change in GlobeTrac’s business or corporate
structure;
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Page
- - 3
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(7)
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changes
in GlobeTrac’s Articles of Incorporation or other actions that may impede
an acquisition of control of GlobeTrac by any
person;
|
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(8)
|
a
class of securities of GlobeTrac to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities
association;
|
|
(9)
|
a
class of equity securities of GlobeTrac becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Act;
or
|
(10) any
action similar to any of those enumerated above.
Item
5. Interest in Securities of the Issuer
|
(a)
|
David
Patriquin is the beneficial owner of 20,870,626 shares of
common stock of GlobeTrac. The shares represent an aggregate
23.0032% of the
issued and outstanding shares of common stock of
GlobeTrac.
|
|
(b)
|
David
Patriquin holds the sole power to vote and to dispose of the 20,870,626 shares of
common stock of GlobeTrac.
|
|
(c)
|
David
Patriquin has not effected any transaction in the common stock of
GlobeTrac during the past 60 days, except as disclosed in this statement
and his previous filings with the
SEC.
|
|
(d)
|
Not
applicable.
|
|
(e)
|
Not
applicable.
|
Item
6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
Except as
disclosed in this Schedule, there are no contracts, arrangements, understandings
or relationships (legal or otherwise) among David Patriquin and any other person
with respect to any securities of GlobeTrac, including, but not limited to,
transfer or voting of any securities, finder’s fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of profit or
loss, or the giving or withholding of proxies.
Item
7. Materials to Be Filed as Exhibits.
|
99.1
|
Form
of Agreement with various creditors filed as an Exhibit to GlobeTrac’s
Form 8-K (Current Report) filed on June 25, 2008, and incorporated herein
by reference.
|
Filed
|
SIGNATURES
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
By:/s/ David Patriquin
Dated: August 11,
2008 David
Patriquin
Page
- - 4