Gift Liquidators, Inc. (the "Company") is a wholesale distributor of a
diverse line of gift and novelty products that are acquired in closeout from
other gift developers, distributors and wholesalers. To date, all of the
products have been acquired from Laid Back Enterprises, a private company
affiliated with the Company and owned by the Company's executive officers, but
the Company is looking for additional sources of products and to develop
additional sales through an internet presence. The Company normally operates a
seasonal retail business for its products during the Christmas holiday season,
however, in 2004 the Company did not operate a retail store.
