UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 1)* GLOBAL GOLD CORPORATION ----------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $0.001 PER SHARE ---------------------------------------- (Title of Class of Securities) 37933T209 --------- (CUSIP Number) Joanne Tuckman Chief Financial Officer Firebird Management LLC 152 West 57th Street, 24th Floor New York, NY 10019 (212) 698-9260 -------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) MARCH 10, 2005 --------------------------- (Date of Events 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 ss.ss.240.13d-1(e), 240.13(d)1-(f) or 240.13d-1(g), 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 ss.240.13d-7 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 which would alter disclosure 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 (however, see the Notes). CUSIP NO. 37933T209 -------------------------------------------------------------------------------------------------------------------- 1 Name of Reporting Person I.R.S. Identification No. of Above Person (Entities Only) Firebird Management LLC(1) -------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box If a Member of a Group a. [ ] b. [ ] -------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------------------------------------------- 4 Source of Funds AF -------------------------------------------------------------------------------------------------------------------- 5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ] -------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization New York -------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 0 Number of Shares 8 Shared Voting Power 6,873,166 (1) Beneficially Owned by Each 9 Sole Dispositive Power 0 Reporting Person With 10 Shared Dispositive Power 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ] -------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 41.8% -------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person IA (1) The controlling members of the Reporting Person are Harvey Sawikin and Ian Hague. The Reporting Person may be deemed the beneficial owner of 1,838,167 shares (or 11.1% of the outstanding shares of Common Stock of the issuer, which includes 750,000 shares issuable upon the exercise of warrants) in its capacity as the investment adviser to Firebird Republics Fund, Ltd. (the "Republics Fund"), which is the holder of such shares. As the investment adviser of the Republics Fund, the Reporting Person has voting and investment control with respect to the shares. The Reporting Person may also be deemed a member of a group with the investment advisers of Firebird Global Master Fund, Ltd., and Firebird Avrora Fund, Ltd., that hold respectively 3,200,000 shares (including 1,500,000 shares issuable upon the exercise of warrants) and 1,834,999 shares (including 750,000 shares issuable upon the exercise of warrants), as a result of common management of the investment advisers of each such fund. 2 CUSIP NO. 37933T209 -------------------------------------------------------------------------------------------------------------------- 1 Name of Reporting Person I.R.S. Identification No. of Above Person (Entities Only) FGS Advisors, LLC(1) -------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box If a Member of a Group a. [ ] b. [ ] -------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------------------------------------------- 4 Source of Funds AF -------------------------------------------------------------------------------------------------------------------- 5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ] -------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization New York -------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 0 Number of Shares 8 Shared Voting Power 6,873,166 (1) Beneficially Owned by Each 9 Sole Dispositive Power 0 Reporting Person With 10 Shared Dispositive Power 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ] -------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 41.8% -------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person IA (1) The controlling members of the Reporting Person are Harvey Sawikin and James Passin. The Reporting Person may be deemed the beneficial owner of 3,200,000 shares (or 19.4% of the outstanding shares of Common Stock of the issuer, which includes 1,500,000 shares issuable upon the exercise of warrants) in its capacity as the investment adviser to Firebird Global Master Fund, Ltd. (the "Global Master Fund"), which is the holder of such shares. As the investment adviser of the Global Master Fund, the Reporting Person has voting and investment control with respect to the shares. The Reporting Person may also be deemed a member of a group with the investment advisers of Firebird Republics Fund, Ltd., and Firebird Avrora Fund, Ltd., that hold respectively 1,838,167 (including 750,000 shares issuable upon the exercise of warrants) and 1,834,999 (including 750,000 shares issuable upon the exercise of warrants), as a result of common management of the investment advisers of each such fund. 3 CUSIP NO. 37933T209 -------------------------------------------------------------------------------------------------------------------- 1 Name of Reporting Person I.R.S. Identification No. of Above Person (Entities Only) Firebird Avrora Advisors LLC(1) -------------------------------------------------------------------------------------------------------------------- 2 Check the Appropriate Box If a Member of a Group a. [ ] b. [ ] -------------------------------------------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------------------------------------------- 4 Source of Funds AF -------------------------------------------------------------------------------------------------------------------- 5 Check If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |_| -------------------------------------------------------------------------------------------------------------------- 6 Citizenship or Place of Organization New York -------------------------------------------------------------------------------------------------------------------- 7 Sole Voting Power 0 Number of Shares 8 Shared Voting Power 6,873,166 (1) Beneficially Owned by Each 9 Sole Dispositive Power 0 Reporting Person With 10 Shared Dispositive Power 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,873,166 (1) -------------------------------------------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares [ ] -------------------------------------------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 41.8% (1) -------------------------------------------------------------------------------------------------------------------- 14 Type of Reporting Person IA (1) The controlling members of the Reporting Person are Harvey Sawikin and Ian Hague. The Reporting Person may be deemed the beneficial owner of 1,834,999 shares (or 11.1% of the outstanding shares of the Common Stock of the issuer, which includes 750,000 shares issuable upon the exercise of warrants) in its capacity as the investment adviser to Firebird Avrora Fund, Ltd. (the "Avrora Fund"), which is the holder of such shares. As the investment adviser of the Avrora Fund, the Reporting Person has voting and investment control with respect to the shares. The Reporting Person may also be deemed a member of a group with the investment advisers of Firebird Republics Fund, Ltd., and Firebird Global Master Fund, Ltd., that hold respectively 1,838,167 (including 750,000 shares issuable upon the exercise of warrants) and 3,200,000 (including 1,500,000 shares issuable upon the exercise of warrants), as a result of common management of the investment advisers of each such fund. 4 ITEM 1. SECURITY AND ISSUER. This Amendment No. 1 ("Amendment No. 1") to Schedule 13D amends and supplements the Statement on Schedule 13D originally filed on November 4, 2004 (the "Schedule 13D"), with respect to the common stock, par value $0.001 per share (the "Common Stock") of Global Gold Corporation, a Delaware corporation (the "Company"). The Company's principal executive office is located at 104 Field Point Road, Greenwich, CT 06830. Certain terms used but not defined in this Amendment No. 1 have the meanings assigned to thereto in the Schedule 13D. The Schedule 13D is hereby amended and supplemented by this Amendment No. 1 as follows: ITEM 3. SOURCE OR AMOUNT OF FUNDS OR OTHER CONSIDERATION As discussed in Item 5 hereof, certain of the Common Stock to which this Amendment No. 1 relates were purchased by private investment funds at the direction of the Reporting Persons. The aggregate amount of the purchase price of US$218,292 in respect of the acquisition of shares of Common Stock at the closing of the Stock Purchase Agreement between the Funds and Robert Garrison dated February 25, 2005 (the "SPA") was paid from the working capital of the private investment funds that purchased the subject securities at the direction of the Reporting Persons. ITEM 4. PURPOSE OF TRANSACTION. The information in Item 4 is hereby supplemented with the addition of the following information: The shares of Common Stock to which this Amendment No. 1 relates have been acquired for investment purposes. Ian Hague, a Principal of Firebird Management LLC, FGS Advisors, LLC and Firebird Avrora Advisors LLC was appointed as a director of the Company on January 11, 2005 pursuant to the right of the Reporting Persons described in the Schedule 13D to designate a single director for election to the Company's board pursuant to the Stock Subscription and Stockholders Agreement. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Items 5(a) and (b) are hereby amended to read in their entirety as follows: (a) The Reporting Persons may be deemed the beneficial owners in the aggregate of 6,873,166 shares of Common Stock, representing 41.8% of the Common Stock, consisting of (i) an aggregate of 3,000,000 shares of Common Stock purchased on November 4, 2004, (ii) an aggregate of 3,000,000 shares of Common Stock issuable upon exercise of the Warrants, and (iii) an aggregate of 873,166 shares of Common Stock purchased at the closing of the SPA. Other than as described in this Item 5, to the knowledge of the Reporting Persons no shares of Common Stock are beneficially owned by any of the persons named in Item 2. (b) For purposes of Rule 13d-3 under the Securities Exchange Act of 1934, the Reporting Persons may be deemed the beneficial owners of the Common Stock described in Item 5(a) above because, (i) Management acts as investment adviser to Firebird Republics Fund, Ltd., a private investment fund which owns 1,838,167 shares of Common Stock (including 750,000 shares issuable upon exercise of the Warrants held by such fund), (ii) FGS acts as investment adviser to Firebird Global Master Fund, Ltd., a private investment fund which owns 3,200,000 shares of Common Stock (including 1,500,000 shares issuable upon exercise of the Warrants held by such fund), and (iii) Avrora acts as investment adviser to 5 Firebird Avrora Fund, Ltd., a private investment fund which owns 1,834,999 shares of Common Stock (including 750,000 share issuable upon exercise of the Warrants held by such fund; collectively, the "Funds", and individually each a "Fund"). As investment advisers to the Funds, each Reporting Person has voting and investment control with respect to the shares of Common Stock held by the Fund it advises. Item 5(c) is hereby supplemented with the addition of the following information: (c) The Funds entered into the SPA pursuant to which the Funds acquired at the closing of the transaction an aggregate of 873,166 shares of Common Stock for a purchase price of $0.25 per share, representing an aggregate of $218,292. Other than this private purchase of securities from a single individual, during the part sixty days, there were no transactions in the Common Stock that were effected by any of the Reporting Persons or, to the knowledge of the Reporting Persons, by any of the other persons named in Item 2. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Item 6 is hereby supplemented with the addition of the following information: As discussed in response to Item 5(c) above, the Funds and Robert Garrison entered into the SPA (dated as of February 25, 2005) pursuant to which the Funds acquired 873,166 shares of Common Stock from Mr. Garrison for an aggregate purchase price of $218,292. Except as otherwise described original Schedule 13D and this amendment, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any person with respect to any shares of Common Stock of the Company, including, but not limited to, transfer or voting of any of the Common Stock, finder's fees, joint ventures, loan or option arrangements, put or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. 1. Joint Filing Agreement dated March 24, 2005. 2. The Stock Purchase Agreement dated February 25, 2005 which is filed as Exhibit A hereto and which is incorporated herein by reference. 6 SIGNATURE After reasonable inquiry and to the best of their respective knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: March 24, 2005 FIREBIRD MANAGEMENT LLC By: /s/ Harvey Sawikin Name: Harvey Sawikin Title: Principal FGS ADVISORS, LLC By: /s/ James Passin Name: James Passin Title: Principal FIREBIRD AVRORA ADVISORS LLC By: /s/ Harvey Sawikin Name: Harvey Sawikin Title: Principal 7 Exhibit 1 JOINT FILING AGREEMENT Firebird Management LLC, FGS Advisors, LLC and Firebird Avrora Advisors LLC in compliance with Rule 13d-1(k) of the Securities and Exchange Commission, hereby agree that the statement on Schedule 13D to which this Agreement is attached as an exhibit is, and any amendments thereto filed by any of us will be, filed on behalf of each such company, that each such company is responsible for the timely filing of the Schedule 13D and any amendments thereto and for the completeness and accuracy of the information concerning such company contained therein. Dated: March 24, 2005 FIREBIRD MANAGEMENT LLC By: /s/ Harvey Sawikin Name: Harvey Sawikin Title: Principal FGS ADVISORS, LLC By: /s/ James Passin Name: James Passin Title: Principal FIREBIRD AVRORA ADVISORS LLC By: /s/ Harvey Sawikin Name: Harvey Sawikin Title: Principal 8 STOCK PURCHASE AGREEMENT THIS STOCK PURCHASE AGREEMENT (this "Agreement") is made and entered into this 25th day of February, 2005, by and among Robert A. Garrison, an individual (the "Seller"), on the one hand, and the purchasers identified on the signature page hereof (each individually a "Purchaser" and together, the "Purchasers"), on the other hand. RECITALS: WHEREAS, the Seller holds title to one million four hundred twenty-three thousand one hundred and sixty-seven (1,423,167) shares of Common Stock of Global Gold Corporation (OTCBB Symbol: GBGD) ("the Common Stock") currently held in the Seller's name, 313,412 of which are "restricted securities" for purposes of the Securities Act of 1933 (the "Act"), and 1,109,755 of which are unrestricted securities. WHEREAS, the Seller desires to sell to the Purchasers, and the Purchasers desire to purchase from the Seller that number of shares of Common Stock set forth opposite each Purchaser's name on Schedule A hereto (in the aggregate, the "Transferred Shares") held by the Seller, upon the terms and conditions set forth herein. AGREEMENT: In consideration of the mutual promises contained herein, the parties hereby agree as follows: 1. Purchase and Sale; Closing. -------------------------- a. Purchase and Sale. Subject to the terms and conditions hereinafter set forth, the Seller hereby agrees to sell, convey, transfer, and deliver to the Purchasers, and the Purchasers hereby agree to purchase from the Seller, the Transferred Shares, at the Purchase Price set forth below. b. Closing. The closing of the sale and purchase of the Transferred Shares described in Section 1(a) (the "Closing") shall take place at 10:00 am EST on March 2, 2005, or at such other time as may be agreed by the parties. 2. Amount, Payment and Application of Purchase Price, Closing Deliveries. The aggregate consideration and method of payment shall be as follows: a. Consideration. At the Closing, as total consideration for the purchase and sale of the Transferred Shares, each Purchaser shall pay to the Seller the amount set forth opposite such Purchaser's name on Schedule A hereto, at Twenty-Five Cents ($0.25) per share, equaling in the aggregate Three Hundred Fifty-Five Thousand Seven Hundred Ninety One -1- Dollars and Seventy Five Cents ($355,791.75) (the "Purchase Price"). The Purchase Price shall be paid at the Closing upon receipt of Seller's closing deliveries by wire transfer of immediately available funds to the Seller's trust account as set forth in Exhibit A hereto. b. Deliveries at Closing. At the Closing, (i) the Seller will deliver to each Purchaser separate stock certificates representing all of the Transferred Shares (with separate stock certificates for each Purchaser and for Restricted Shares and Unrestricted Shares) that are being sold conveyed, transferred and delivered to such Purchaser, endorsed in blank or accompanied by duly executed assignment documents, and (ii) each Purchaser will deliver to the Seller the portion of the Purchase Price set forth against such Purchaser's name in Schedule A hereto. 3. Representations and Warranties of Seller. ---------------------------------------- Seller hereby represents and warrants to each Purchaser as follows: a. Ownership of Stock. The Seller is the sole record and beneficial owner of, and has good and valid title to, the Transferred Shares free and clear of any liens, claims, equities, encumbrances, security interests and restrictions of any kind and has full and complete legal right, power and authority to execute and deliver this Agreement and to duly perform its obligations hereunder. b. Validity. This Agreement constitutes the legal, valid and binding obligation of the Seller. c. Consents and Approvals. The execution and delivery of this Agreement, the consummation of the transaction contemplated hereby and the performance by the Seller of the terms and conditions hereof do not (i) require the approval or consent of any governmental authority or the approval or consent of any other person; or (ii) conflict with or result in a breach or violation of any law or regulation or contractual or other obligation applicable to the Seller or the Transferred Shares or by which the Seller or the Transferred Shares is or are bound. d. Shares Unrestricted. Of the Transferred Shares that are hereunder sold, conveyed, transferred, and delivered by the Seller to Firebird Avrora Fund., Ltd., Firebird Republics Fund, Ltd. and Firebird Global Master Fund, Ltd. (collectively, the "Funds"), 313,412 shares of Common Stock are "restricted securities" (the "Restricted Shares") and are being sold, conveyed, transferred, and delivered by the Seller to the Funds pursuant to an applicable exemption from registration under the Act. Of the remaining Transferred Shares that are hereunder sold, conveyed, transferred, and delivered by the Seller to the Purchasers (the "Unrestricted Shares"), none of such 1,109,755 shares of Common Stock are "restricted securities" under the Act and all such shares are freely tradable without having to be included in a registration statement filed with, and declared effective by, the Securities and Exchange Commission pursuant to Section 5 of the Act. The Unrestricted Shares satisfy all of the requirements of Rule 144(k) promulgated by the Securities and Exchange Commission under the Act, are being sold, conveyed, transferred, and delivered by the Seller to the Purchasers pursuant to the exemption from registration provided by Rule 144(k), and are freely tradable by the purchasers thereof. -2- e. No Broker. The Seller has not committed any act or omission which would give rise to any claim against any party hereto for a brokerage commission, finder's fee, or other like payment in connection with the transaction contemplated hereby. 4. Representations and Warranties of Purchasers. -------------------------------------------- Each of the Purchasers, severally and not jointly, and for itself only and not with respect to any of the other Purchasers, hereby represents and warrants to the Seller as follows: a. No Broker. Such Purchaser has not committed any act or omission which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transactions contemplated hereby. b. Validity. This Agreement constitutes the legal, valid and binding obligation of such Purchaser. 5. Termination. ----------- If the Closing has not occurred on or before March 11, 2005 this Agreement may be terminated at any time by any Purchaser or the Seller, respectively, by notice to the other parties hereto, in which case this Agreement shall be null and void, except for the provisions of Sections 3(e), 4(a), and 6(d), which shall remain in full force and effect. 6. General Provisions. ------------------ a. Sections and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. b. No Waiver of Rights. No failure or delay on the part of any party in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, and no single or partial exercise of any such power, right or privilege shall preclude other or further exercise thereof or of any other right, power or privilege. All rights and remedies existing under this Agreement are cumulative with, and not exclusive of, any rights or remedies otherwise available. No waiver shall be binding unless in writing and signed by the party to be charged or a qualified officer thereof. c. Notice. All notices hereunder shall be in writing and shall be either personally delivered, transmitted by postage prepaid registered or certified mail, return receipt requested, transmitted by telecopier, or transmitted by internationally recognized courier service to the parties hereto at their respective addresses. Except as otherwise specified herein, all notices and other communications shall be deemed to have been duly given on receipt. For purposes hereof, the addresses and telecopier numbers of the parties hereto (until notice of a change thereof is given as provided herein) shall be as set forth on Schedule A hereto with respect to the Purchasers (with a copy to the party identified below), and with respect to the Seller, as set forth below: -3- Any communication to the Purchasers shall be copied to: Christopher M. Wells, Esq. Coudert Brothers LLP 1114 Avenue of the Americas New York, NY 10036 Telecopier: (212) 626-4120 If to the Seller: Bob Garrison 44 Lords Highway East Weston, CT 06883 Telecopier: (203) 222-9037 d. Governing Law. This Agreement and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws provisions thereof. The parties hereby irrevocably consent to, and waive any objection to the exercise of, personal jurisdiction by the state and federal courts located in New York, New York with respect to any action or proceeding arising out of this Agreement. e. Assignment; Successors. This Agreement shall inure to the benefit of and be binding upon the heirs, successors and assigns of all parties. f. Further Assurances. The parties hereto agree that, from time to time hereafter, and upon request, each of them will execute, acknowledge and deliver such other documents and instruments as may be required to carry out more effectively the terms and conditions of this Agreement. g. Entire Agreement; Modifications; Severability. This Agreement, together with the other agreements referred to herein, constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings, written or oral, of the parties. This Agreement may not be modified or amended except by a writing signed by each of the parties hereto (and by a qualified officer if such party is a legal entity). The invalidity, illegality or unenforceability for any reason of any one or more provisions of this Agreement shall not affect the validity, legality or enforceability of the remainder of this Agreement. h. Counterpart Originals. This Agreement may be (i) executed simultaneously in two or more counterparts each of which shall be deemed an original but all of which together shall constitute one and the same instrument, and (ii) executed by facsimile. i. Obligations of Purchasers Several and not Joint. The obligations of the Purchasers hereunder are several and are not joint obligations. [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] -4- IN WITNESS WHEREOF, this Agreement has been executed by each of the individual parties hereto on the date first above written. SELLER: /s/ Robert Garrison Robert A. Garrison PURCHASERS: /s/ Harvey Sawikin Firebird Avrora Fund, Ltd. ------------------------------- Authorized Signatory Vince Tattersal /s/ Harvey Sawikin Firebird Republics Fund, Ltd. ------------------------------- Authorized Signatory 2049750 Ontario Inc. Authorized Signatory /s/ James Passin Firebird Global Master Fund, Ltd. ------------------------------- Authorized Signatory Peter Schiff ------------------------------- ------------------------------- Auerbach Grayson & Co., Inc. Douglas Casey Authorized Signatory -5- SCHEDULE A PURCHASERS PURCHASER UNRESTRICTED SHARES RESTRICTED SHARES PURCHASE PRICE --------- ------------------- ----------------- -------------- Firebird Avrora Fund, Ltd. 214,743 120,256 US$83,750 c/o Trident Trust Co. (Cayman) Ltd. 1 Capital Place, Box 847, Grand Cayman, Cayman Islands Firebird Republics Fund, Ltd. 216,783 121,384 US$84,542 c/o Trident Trust Co. (Cayman) Ltd. 1 Capital Place, Box 847, Grand Cayman, Cayman Islands Firebird Global Master Fund, 128,229 71,771 US$50,000 Ltd. c/o Citco Fund Services (Cayman Islands) Limited Regatta Office Park, West Bay Road, P.O. Box 31106 SMB, Grand Cayman, Cayman Islands Auerbach Grayson & Co., Inc. 100,000 US$25,000 330 Madison Avenue New York, NY 10017 USA Vince Tattersal 150,000 US$37,500 -6- 5598 Gallagher Place Vancouver V7Z 1M9 BC, Canada 2049750 Ontario Inc. 100,000 US$25,000 95 Mayfield Ave., Toronto, Ontario M6S 1K7 Canada Peter Schiff 100,000 US$25,000 148 Ramhorne Rd., New Canaan, CT 06840 USA Douglas Casey 100,000 US$25,000 202 Clevedon-Kawakawa Rd., Clevedon New Zealand ------------------------------------------------------------------------------------------------------------------- TOTAL 1,109,755 313,412 US$355,792 -7-