Ta Partners, Inc. acquired 94.22% stake in Golden Gate Partners, Inc. (OTCPK:GNGT) from Steven Gidumal, Brandon Birtcher, two trusts of Tim Wilkens, a former officer of Golden Gate Partners and an unrelated third party for $0.87 million on June 18, 2013. As reported, Ta Partners acquired an aggregate of 3.62 million shares of Golden Gate Partners' common stock of which 1.2 million shares were acquired from Steven Gidumal and Brandon Birtcher, aggregate of 1.2 million shares were acquired from two trusts of which Tim Wilkens is the trustee, The Wilkens 2000 Trust and The Wilkens 2003 Trust, 0.05 million shares were acquired from a former officer of Golden Gate and 0.05 million shares were sold by an unrelated third party. The purchase prices paid for these shares were $0.1 million to Gidumal, $0.06 million to Birtcher, $0.28 million in cash and two convertible promissory notes in an aggregate amount of $0.4 million to the Wilkens Trusts, $0.01 million to the former officer and $0.02 million to the unrelated third party. Of the $0.1 million consideration paid to Gidumal, $0.04 million was paid as a settlement of outstanding accrued remuneration of Golden Gate, pursuant to which Gidumal agreed to waive all claims against Golden Gate for any circumstances that existed prior to the closing of the sale.

In connection with the transaction, Tim Wilkens was elected to Golden Gate's Board of Directors, to serve along with Steven Gidumal, who remains as the second Director. Steven Gidumal, Golden Gate's only remaining officer, resigned all of his positions and Alexander Nistratov was elected as the President of Golden Gate Partners.

Ta Partners, Inc. completed the acquisition of 94.22% stake in Golden Gate Partners, Inc. (OTCPK:GNGT) from Steven Gidumal, Brandon Birtcher, two trusts of Tim Wilkens, a former officer of Golden Gate Partners and an unrelated third party on June 18, 2013.