GELSTAT CORP

GELSTAT CORP develops, manufactures, and markets over-the-counter (OTC) and other non-prescription consumer health products. The company was incorporated on November 13, 1991, in Minnesota as Developed Technology Resource, Inc., and reincorporated in Delaware on October 27, 2010. Its principal executive office is located at 3557 SW Corporate Parkway Palm City, FL. Effective April 30, 2003, Gelstat acquired Gelstat Corp. (GC) as a wholly-owned subsidiary. GC, organized in June 2002, focuses on products related to migraine and sleep. The acquisition involved a merger where GC's former owners received shares of Gelstat's common stock, with no cash consideration exchanged. In July 2003, the company changed its name to Gelstat Corporation. On March 17, 2004, GS Corp. was merged into its parent company, Gelstat Corporation. In 2004, Gelstat established a subsidiary called GS Pharma, Inc. On January 5, 2005, GS Pharma assigned all rights in a previously granted license to DTLL, Inc. in exchange for 12.5 million shares of DTLL. On November 14, 2005, Gelstat sold 12.4 million of its shares in DTLL for $500,000. Due to DTLL's failure to make required payments for pharmaceutical application rights, these rights reverted back to Gelstat. In late 2005, the company became insolvent and marketed its products on a limited basis.