Gtfn Hldgs Inc (OTC:BTOW)

WEB NEWS

Wednesday, November 3, 2010

Investor Alert

On March 24, 2010, the registrant executed and delivered to First Niagara Bank, a Term Note in the original principal amount of One Million and 00/100 Dollars ($1,000,000.00) (the “Note”) to partially finance the film “Little Treasure.”  First Niagara Bank claims that the registrant is in default under the Note for, among other reasons, the termination of the March 24, 2010 Escrow Agreement by and among the registrant, Indie Film Exchange Holding, Inc. and Keevican Weiss Bauerle & Hirsch LLC.

Registrant is unable to repay this obligation unless we are successful in obtaining additional financing of Little Treasure and complete its production, or either.



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