8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 13, 2013

GDT TEK, Inc.
(Exact name of registrant as specified in its chapter)  

Florida (State or other jurisdiction of incorporation 000-20259 (Commission File Number) 27-0318532 (IRS Employer Identification No.)

8110 Ulmerton Ave. Largo,  Florida (Address of principal executive offices) 32803 (Zip Code)

(407) 574-4740
Registrant's telephone number, including area code

  __________________________________________  
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 – Other Events

On February 13, 2013 the Company entered into an agreement in principal to purchase one hundred percent (100%) of a certain business that supplies electricity to the grid from electrical generators that burn methane gas. The methane gas is the byproduct of the landfill that the business is located on. The landfill operation is located in the northern part of the United States near the Great Lakes. The agreement attached along with business financials requires a payment of $8,950,000 to be paid to the current owners of the business which is to be completed within 120 days from the date the agreement was signed.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits.

99.1 Form of Purchase Agreement

99.2 Financial information

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: February 15, 2013	GDT TEK , INC.
	/s/Bo Linton
	By: Bo Linton
	Its:  President and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

EX-99.1

Exhibigt 99.1

REVISED AS PER AGREEMENT

February 13, 2013

February 6, 2013

Dear Mr. Linton:

Regarding: Counteroffer

Herein is contained a counteroffer to your offer to purchase dated February 4, 2013. We agree in principal to the greater part of your offer with some exceptions. The Sale is for all of the stock of the entities that make up Fiber Recovery Inc.

Those exceptions to your offer are noted in italics.

1. Purchase Price $8,950,000 cash which pays off all existing debt.

2. The amount of the assets listed under Current Assets presently totaling at $424,205 will be added to the purchase price listed above but that same amount will be paid back in cash to the buyer at closing, resulting in no net change in the actual Purchase Price, but removing that item from the balance sheet.

3. Verification that the gross revenues of approximately $2 million per year.

4. Verification that the Cost of Goods Sold approximately $650,000 per year.

5. Verification that the Expense are approximately $390,000 per year, with Salt Lake Office cost removed, which includes interest payment on the current secured debt.

6. All contracts and permits are to be verified.

7. All books and records are to be verified.

8. All accounting and financial records are to be audited at buyers expense.

9. Confirm that all corporate taxes both state and federal are filed for all companies that are part of this transaction, i.e.;

a. 2009, 2010 and 2011 business tax returns.

b. 2009, 2010 and 2011 P&L and Balance Sheet.

c. 2012 P&L and Balance Sheet.

d. 2011 October P&L and Balance Sheet.

10. Conditions to close:

a. Verification of Accounts Payable and Accounts Receivable.

b. Verification that all employees payrolls are current.

c. Review of all employee contracts with current staff.

d. Physical inspection of facilities by buyer and or his agent.

e. Seller agrees to train GDT TDK's representatives the operation of the business for at least twomonths after closing.

11. It is understood, between the parties, that Fiber Recovery Inc. is currently undertaking an expansion of its drying operation. Consequently timing of this transaction contained herein is critical. If as a result of decisions made as part of that expansion the parties are not in agreement, either party may terminate this Letter of Intent with a ten-day notice.

12. Escrow Period

a. Close within 120 days or sooner from the date of the signing this agreement unless mutually extended by buyer and seller.

It is understood that all information that is shared by each party's is confidential and not to be shared unless approved by both parties and or unless required by law. Each party executing is in agreement as stated above.

GDT TEK, Inc.	Fiber Recovery Inc.
__________________	______________________
by Bo Linton President	by Jerry Hansen President

EX-99.2

Exhibit 99.2

Balance Sheet    

As of September 30, 2012

	Sept. 30, 2012			Sept. 30, 2011			Change
ASSETS
Current Assets
Cash in Bank		193,511			12,814			180,697
Petty Cash		406			105			301
Total Cash		193,917			12,919			180,998
Accounts Receivable
Acct Receivable		45,679			84,278			(38,598	)
Total Accounts Receivable		45,679			84,278			(38,598	)
Other Current Assets
Notes Receivable		253,359			244,726			8,633
Notes Receivable		132,977			132,276			701
Loan Receivable		17,759			15,399			2,360
Loan Receivable		9,735			31,956			(22,221	)
Total Other Current Assets		413,830			424,357			(10,527	)
Total Current Assets		653,426			521,554			131,873
Fixed Assets
Building and improvements		1,192,862			1,192,080			782
Furniture and office equipment		109,970			109,970			0
Machinery and Equipment		4,565,730			4,523,615			42,114
Vehicles		177,516			177,516			0
Total Fixed Assets		6,046,078			6,003,181			42896
Depreciation
Accumulated Depreciation		(1,856,546	)		(1,607,355	)		(249,191	)
Total Depreciation		(1,856,546	)		(1,607,355	)		(249,191	)
TOTAL ASSETS		4,842,958			4,917,380			(74,422	)
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable		44,640			(3,377	)		48,017
Total Accounts Payable		44,640			(3,377	)		48,017
Credit Cards
Visa		(4,941	)		0			(4,941	)
Total Credit Cards		(4,941	)		0			(4,941	)
Other Current Liabilities
Payroll		(10,484	)		26,713			(37,197	)
Total Other Current Liabilities		(10,484	)		26,713			(37,197	)
Total Current Liabilities		29,215			23,336			5,879
Long Term Liabilities
Loan 004		1,870,845			2,215,535			(344,690	)
Loan 005		472,359			0			472,359
Loan 006		0			528,098			(528,098	)
Total Long Term Liabilities		2,343,204			2,743,633			(400,429	)
Equity
Stock Issued		45,140			45,140			0
Additional Paid in Capital		39,754			39,754			0
Treasury Stock		(265,654	)		(265,654	)		0
Retained Earnings		2,413,721			2,224,876			188,845
Net Income		237,578			106,295			131,283
Total Equity		2,470,539			2,150,411			320,128
TOTAL LIABILITIES & EQUITY		4,842,958			4,917,380			(74,422	)

Profit & Loss November 2011 through October 2012

2011-2012 P&L-EBITDA  

	Nov 11		Dec 11		Jan 12		Feb 12		Mar 12		Apr 12		May 12		Jun 12		Jul 12		Aug 12		Sep 12		Oct 12		TOTAL
Ordinary Income/Expense
Income
4010001 · Revenue - Inbound Waste Process		22,152.26		26,554.32		23,509.98		26,251.68		36,464.74		20,816.26		26,821.08		33,275.32		27,220.96		13,959.40		31,694.78		37,265.80		325,986.58
4020001 · Revenue - Power on peak		77,904.36		76,698.77		89,440.92		92,111.48		93,267.16		85,758.75		78,097.45		86,326.02		87,529.21		78,768.21		87,810.85		78,736.24		1,012,449.42
4030001 · Revenue - Power off peak		34,560.10		37,561.74		49,587.78		40,256.84		44,091.30		38,159.53		35,911.02		38,251.33		42,809.86		32,255.93		40,134.28		33,080.42		466,660.13
4050001 · Revenue - Outbound Fuel Pellets		16,345.35		10,013.44		13,773.57		12,283.91		17,560.84		11,581.19		11,995.90		14,843.90		13,763.32		7,695.10		11,928.32		18,424.32		160,209.16
4270000 · Sales		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		615.00		0.00		615.00
Total Income		150,962.07		150,828.27		176,312.25		170,903.91		191,384.04		156,315.73		152,825.45		172,696.57		171,323.35		132,678.64		172,183.23		167,506.78		1,965,920.29
Cost of Goods Sold
Direct labor		10,396.73		10,042.17		8,952.55		8,178.28		12,622.50		10,810.04		11,614.88		12,161.88		12,881.26		17,979.82		11,691.88		11,436.89		138,768.88
Fuel Expense		1,230.37		0.00		4,432.39		1,057.68		327.52		737.87		1,205.13		8,928.86		8,094.00		2,262.06		8,039.32		17.77		36,332.97
Maintenance- Drying		3,193.16		1,207.89		850.53		4,121.92		1,202.46		215.00		1,997.92		3,278.61		915.00		4,706.00		596.95		490.73		22,776.17
Maintenance-Power Production		19,190.64		29,370.49		21,610.39		27,495.22		41,494.96		10,157.69		25,126.57		13,741.12		11,446.78		8,874.33		3,033.11		31,700.81		243,242.11
Other direct Cost of goods		6,775.11		7,691.76		6,788.06		4,755.75		4,920.45		4,257.56		5,466.99		2,097.20		3,399.44		4,329.98		3,429.41		4,139.19		58,050.90
Utilitities		12,214.29		10,513.36		12,636.18		11,397.80		12,167.46		12,190.38		10,592.39		13,493.98		14,703.60		13,540.56		13,541.49		12,766.81		149,758.30
Total COGS		53,000.30		58,825.67		55,270.10		57,006.65		72,735.35		38,368.54		56,003.88		53,701.65		51,440.08		51,692.75		40,332.16		60,552.20		648,929.33
Gross Profit		97,961.77		92,002.60		121,042.15		113,897.26		118,648.69		117,947.19		96,821.57		118,994.92		119,883.27		80,985.89		131,851.07		106,954.58		1,316,990.96
Expense
Insurance		17,245.86		8,892.92		12,128.68		7,492.71		11,761.19		7,516.75		6,216.18		6,995.74		3,888.70		9,149.77		5,197.75		12,810.76		109,297.02
Maintenance		300.00		171.44		0.00		88.00		0.00		246.00		376.02		1,304.22		624.85		953.21		1,285.89		98.00		5,447.63
4020000 · Bank Service Charge		51.00		16.00		16.01		51.10		50.99		85.95		46.00		16.00		16.00		51.00		73.50		42.25		515.80
5160002 · License & Permits		1,980.00		2,025.00		3,960.00		1,980.00		0.00		2,025.00		3,960.00		1,980.00		15.00		1,980.00		2,145.00		1,980.00		24,030.00
5170000 · Linen & Uniform		112.26		111.51		112.58		111.51		167.70		111.53		162.88		135.40		135.40		203.10		135.40		148.52		1,647.79
5200000 · Membership & Renewal Fees		0.00		0.00		694.53		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		694.53
5290000 · Safety Supplies		0.00		0.00		0.00		0.00		129.46		113.42		0.00		0.00		0.00		0.00		0.00		105.50		348.38
5310000 · Rental & Lease		7.91		0.00		50.64		0.00		0.00		7.39		8.18		16.57		8.18		8.18		7.91		7.12		122.08
5390000 · Office Supplies		0.00		107.18		109.50		0.00		197.82		343.07		40.78		150.87		40.51		0.00		134.56		0.00		1,124.29
6019000 · Reimbursement Expense		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		26.60		0.00		0.00		26.60
6250000 · Printing/Office Supplies		116.11		170.46		1,250.93		0.00		700.54		471.66		40.58		0.00		102.38		684.69		162.19		238.55		3,938.09
6310000 · Equipment Rental		200.00		8.18		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		208.18
6340029 · Payroll Processing Fee		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,418.00		0.00		1,418.00
6410029 · Utilities		0.00		0.00		0.00		0.00		0.00		0.00		0.00		1,072.54		0.00		0.00		0.00		0.00		1,072.54
6590199 · Management Salary		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		7,500.00		90,000.00
6600000 · Payroll Expenses		12.50		91.75		121.26		12.50		20.95		14.50		20.30		15.95		23.20		27.55		17.40		17.40		395.26
6600001 · Payroll taxes		718.01		549.85		1,663.80		1,562.59		1,650.93		1,640.35		1,490.71		1,481.35		1,512.48		1,798.48		1,304.09		742.73		16,115.38
6670000 · Professional Fees		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		160.00		0.00		160.00
6750011 · Property taxes - WI		0.00		0.00		20,292.40		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		20,292.40
6810000 · Telephone Expense		150.02		471.92		253.74		240.23		268.83		260.09		574.87		260.24		260.40		578.03		591.77		917.96		4,828.10
8000000 · Supplies		232.03		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		232.03
Total Expense		28,625.70		20,116.21		48,154.08		19,038.64		22,448.41		20,335.71		20,436.50		20,928.88		14,127.10		22,960.62		20,133.46		24,608.80		281,914.10
Net Ordinary Income		69,336.07		71,886.39		72,888.07		94,858.62		96,200.28		97,611.48		76,385.07		98,066.04		105,756.17		58,025.27		111,717.61		82,345.78		1,035,076.86
Other Income/Expense
Other Income
4800000 · Other Misc Income		0.00		1,581.00		0.00		0.00		0.00		0.00		2,126.35		0.00		0.00		22,215.24		0.00		0.00		25,922.59
Total Other Income		0.00		1,581.00		0.00		0.00		0.00		0.00		2,126.35		0.00		0.00		22,215.24		0.00		0.00		25,922.59
Net Income		69,336.07		73,467.39		72,888.07		94,858.62		96,200.28		97,611.48		78,511.42		98,066.04		105,756.17		80,240.51		111,717.61		82,345.78		1,060,999.45