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FORM 8K
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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): November 2, 2001

                                GLOBAL DECS CORP.
             (Exact name of registrant as specified in its charter)


                 UTAH                                   1-1767                              87-0267213
       (State of Incorporation)                (Commission File Number)         (IRS Employer Identification No.)

                          836 PROSPECT STREET, SUITE 2B
                               LA JOLLA, CA 92037
              (Address of Registrant's principal executive offices)

                                 (858) 459-0045
              (Registrant's telephone number, including area code)

                          THE GOLD CHAIN MINING COMPANY
                                 1554 LYLE DRIVE
                               SAN JOSE, CA 95129
          (Former name or former address, if changed since last report)

<PAGE>




ITEM 5.  OTHER EVENTS

Overview

     On  November 2, 2001,  in a Special  Meeting of the Board of  Directors  of
Global DECS Corp.  ("GDEC")  (formerly  The Gold Chain Mining  Company),  a Utah
corporation,  the Board of  Directors  appointed  three  individual  persons  as
officers and directors of GDEC with  immediate  effect and at the  conclusion of
the meeting,  Mr.  Williard  Wiens,  Mr. Jim  Mitchell,  and Mr.  Murray  Johns,
collectively  the former  Board of  Directors,  all  resigned  their  respective
positions as officers and  directors of GDEC.  Mr. Wiens,  Mr.  Mitchell and Mr.
Johns had  replaced  the former  Board of  Directors  of The Gold  Chain  Mining
Company following a reorganization on June 29, 2001.

     The new officers and directors of GDEC are: Mr.  Malcolm J. Gold, a British
citizen,  as Chairman and a director;  Mr. Johann A. De Villiers,  a resident of
California, as President, Chief Executive Officer and a director; and Mr. Eugene
L. Brill, a resident of California, as Secretary,  Chief Financial Officer and a
director.  The  Resolution  of the Special  Meeting of the Board of Directors of
GDEC is included in this Current Report as Exhibit 99.1.

     On  November 7, 2001,  GDEC signed an  Assignment  Agreement  with  Antonia
Finance Limited ("Assignor"),  a British Virgin Islands corporation,  to acquire
all of  Assignor"s  rights,  title  and  interest  in and to an  asset  purchase
agreement  with  Vector  Medical  Technologies,  Inc.,  a  Delaware  corporation
("Vector"),  which was made and effective by and between  Assignor and Vector as
of October 31, 2001(the "Vector Contract"). The Assignment Agreement is included
in this Current Report as Exhibit 99.2.

     The Vector  Contract,  which is  entitled  "Asset  Acquisition  Agreement",
acknowledges that Vector is an  undercapitalized  company that does not have the
necessary capital resources to continue its product development and distribution
of the resulting  medical  products and for future  development  and  commercial
exploitation  in the  stream of  commerce  on a  world-wide  basis that would be
required to fully implement  their business plan. The Vector  Contract  confirms
the terms and  conditions  of the sale of the  principal  assets of Vector  (the
"Vector  Assets")  to  Assignor,  which  have been  assigned  to GDEC  under the
Assignment  Agreement,  subject  to  certain  terms and  conditions.  The Vector
Contract  will be included in the  Company's  earliest  next filing or quarterly
report.

     Vector is a development stage biopharmaceutical  technology company focused
on the commercial development,  marketing,  and distribution of products created
from two biomedical  breakthroughs.  The first is a method of delivering ethical
drugs  into the human  body,  through  the use of a  biopolymer  that  transmits
macromolecule  drugs  into the body.  Vector  has  contracted  for an  exclusive
license  and an option  to  purchase  the  patent  and  related  rights  for the
technology  regarding a transdermal  patch that may be placed on the skin, which
may deliver into the body large  moleclule  drugs,  such as insulin.  Vector has
also used this  technology  in  creating a facial  cream  product  that  removes
wrinkles and sagging skin designed for the cosmetics industry, which is marketed
under  the  name  GENER3ATIONS.   The  second  medical  breakthrough  owned  and
controlled by Vector is a patented  anti-viral  therapeutic  AIDS vaccine,  that
enhances the body's  immune system and  stimulates  the growth of T cells and NK
cells (so called  "natural  killer"  cells),  which has been  shown in  clinical
trials  on  humans  to  eradicate   the  deadly  AIDS  Virus   without   adverse
side-affects.

     On  November  19,  2001,  GDEC  announced  in a press  release  that it had
completed  the  assignment  of the Vector  Contract  from Assignor and that GDEC
intended to complete the purchase of the Vector Assets  pursuant to the terms of
such  agreement.  The press release  issued by GDEC  concerning  the  Assignment
Agreement is included in this Current Report as Exhibit 99.4.


Acquisition of Vector Assets by Assignment of Contract

     The Assignment Agreement provides for the acquisition by GDEC of the Vector
Assets in a transaction  described further below.  Vector is a development stage
company with limited  revenues and limited  operating  history that is primarily
engaged in the development for commercial  applications of medical  research and
technology.

     The Assignment  Agreement,  which was immediate and  irrevocable,  requires
that in exchange for the assignment by Assignor of the Vector  Contract to GDEC,
that  GDEC  shall  issue  and  deliver  to  the  Assignor   fifty-five   million
(55,000,000) newly issued fully paid and non-assessable restricted common shares
of stock in GDEC (the "GDEC Shares").  Such shares shall be restricted  pursuant
to Rule 144 of the  Securities  Act of 1933,  as amended.  In  exchange  for the
issuance and delivery of the GDEC Shares to Assignor,  which was completed on or
about November 9, 2001,  Assignor  irrevocably  assigned all of its right, title
and interest in and to the Vector Contract to GDEC.

     The Assignment  Agreement  contains certain other material  provisions,  as
follows:

     1. An  indemnification  and hold harmless provision by GDEC to Assignor and
its  affiliates.  GDEC  agrees  to  indemnify  and  hold  the  Assignor  and its
affiliates  harmless  from any and all  claims  or  demands  that may be made or
threatened, now or in the future, in relation to such agreement.

     2. GDEC shall  indemnify and hold harmless the Assignor and its  affiliates
to any  threatened,  pending or completed  action,  suit or proceeding,  whether
civil, criminal,  administrative or investigative,  by reason of or arising from
any misrepresentation or misstatement of facts or omission to represent or state
facts by any  party  made to GDEC (or any  agent or  representative  of GDEC) or
omitted, misrepresented or misstated by Assignor, including, without limitation,
any such misrepresentation, misstatement or omission contained in the Assignment
Agreement or any other document  submitted by GDEC or Assignor,  against losses,
liabilities  and expenses for which Assignor has not otherwise  been  reimbursed
(including  attorney's  fees,  judgments,  fines and amounts paid in settlement)
actually and  reasonably  incurred by Assignor in  connection  with such action,
suit or proceeding.

     3.  GDEC  assumes  and  covenants  to  fully  perform  any  and  all of the
obligations  and  responsibilities  of the Assignor  under the Vector  Contract,
acting in good faith,  subject to all of the terms and  conditions of the Vector
Contract.


     The Vector Contract contains certain provisions,  which upon completion are
expected to result in the  acquisition  of the Vector  Assets by GDEC,  free and
clear of any and all liabilities.  The assignment of the Vector Contract to GDEC
and the completion thereof, will result in the:

acquisition  by GDEC of the Vector Assets through which GDEC will acquire
patent and patent  rights for a  Therapeutic  AIDS Vaccine that  stimulates  the
human immune system,  for future  development and  commercialization,  as one of
GDEC's new line of businesses; and

acquisition  by GDEC of the Vector Assets through which GDEC will acquire
patent and patent rights for a transdermal  patch  technology for large molecule
drugs, for future development and  commercialization,  as one of GDEC's new line
of businesses; and

acquisition by GDEC of the Vector Assets through which GDEC will acquire
a  product  marketed  under  the  name pf  "Generations3",  which  utilizes  the
transdermal  delivery system to introduce  collagen and elastin through the skin
in a cream  compound  in order to assist in  reversing  the effects of the aging
process,  specifically  removing wrinkles and sagging skin, as one of GDEC's new
line of businesses; and

control of GDEC shifting to the Assignor and the stockholders of Vector,
who will then own  collectively  substantially  all of GDEC's  then  outstanding
common stock and will control GDEC's board of directors.

     There is no material  relationship  between  GDEC and its  subsidiaries  or
affiliates,  on the one hand,  and Assignor or Vector or its  affiliates  on the
other.

<PAGE>



Conditions to Closing the Vector Contract

     There are a number of significant  conditions to GDEC's obligation to close
the Vector Contract, including the following:

     Vector shall convene a shareholders'  meeting and seek the  shareholders'
approval for the sale of the Vector Assets.




     Closing of the Vector Contract shall take place on or before 14 days from
the date that the majority of the Vector common shareholders' approve, adopt and
ratify the Vector Contract ("Closing").

     At Closing,  GDEC shall pay to Vector either  $49,900,000 in cash, which is
the balance of the $50,000,000  purchase price for the Vector Assets,  or in the
alternative, GDEC may elect to pay only $1,150,000 in cash to Vector, assume the
liability to make a rescission  offer or  settlement  agreement  with all Vector
creditors and  stockholders  who previously  purchased shares of common stock in
Vector  pursuant  to two  private  placements  totaling  $15,000,000,  and issue
$30,000,000  in  restricted  shares  of  common  stock  of  GDEC  to the  Vector
shareholders.  The amount of shares  that  equates to the  $30,000,000  shall be
calculated  based upon the bid price on the closing date of the  acquisition  of
the Vector Assets.  GDEC has the right to issue shares of restricted GDEC common
stock  in the  settlement  agreement  with  the  Vector  creditors  and  private
placement investors,  and to negotiate the terms of the settlement directly with
such parties.

     Customary  legal   opinions,   closing   certificates   and  other  closing
documentation  must have  been  received  from  Vector  and its  legal  counsel,
including,  but not limited to a legal opinion confirming that the Vector Assets
sale has been made in compliance with all Florida and Federal laws.

     Two Vector  shareholders,  Dr.  Michael H.  Salit,  Md.,  Ph. D.,  Vector's
Chairman and Director,  and a stockholder  representing 4,000,000 Vector shares,
and Jerome  Matusow  and his  corporate  entities,  who is a Vector  stockholder
representing  4,000,000  shares,  have both  irrevocably  agreed  in the  Vector
Contract to vote in favor of approving  the Vector  Contract and the sale of the
Vector  Assets  as  contemplated  therein,  and to vote in favor  of the  Vector
Contract  in a Vector  Shareholders'  resolution  or at a  Vector  Shareholders'
meeting.  These 8,000,000 shares represent in excess of 53% of the Vector common
shares entitled to vote on the approval of the Vector Contract.


Change of Control

     Stockholders of Assignor and Vector, collectively, will gain voting control
of GDEC and will be able to  effectively  appoint a majority  of the  members of
GDEC's board of  directors if the  transaction  contemplated  by the  Assignment
Agreement is successfully closed.


Forward-Looking Statements

     This  Current  Report  contains  "forward-looking  statements"  within  the
meaning of Section 27A of the  Securities  Act and Section 21E of the Securities
Exchange Act of 1934, as amended.  All statements made in this Current Report or
in the documents we have  incorporated  by reference  that are not statements of
historical fact are "forward-looking statements". Forward-looking statements can
generally be identified by the use of forward-looking terminology such as "may",
"will",  "expect",  "contend",  "estimate",  "anticipate",  "believe" or similar
terminology.  Forward-looking statements included in this Current Report include
discussions about the following:

     the Vector Contract transaction discussed in this Current Report;

     the future  potential for development and  commercialization  of the Vector
Assets and the related technology,

     the  anticipation  that the  transactions  described in this Current Report
will, in fact, be successfully closed.


<PAGE>

     We  caution  you not to  place  undue  reliance  on  these  forward-looking
statements,  which speak only as of the date of this Current  Report.  Important
factors  could  cause  actual  results  to differ  from those  expressed  in the
forward-looking statements, including the failure of GDEC to satisfy its various
conditions to closing the Vector Contract.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         Exhibit 99.1      Special Meeting of the Board of Directors of GDEC.
         Exhibit 99.2      Assignment Agreement.
         Exhibit 99.3      Asset Acquisition Agreement (Vector Contract).
         Exhibit 99.4      Press release announcing Assignment Agreement.


     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 hereunto duly authorized.

Date:  November 19, 2001                    GLOBAL DECS CORP.
                                                     A Utah corporation


                        By: /s/ Mr. Johann A. De Villiers
                            -----------------------------
                            Mr. Johann A. De Villiers
                     Chief Executive Officer, President and
                                   a Director
                          (Principal Executive Officer)


                           By: /s/ Mr. Eugene L. Brill
                               -----------------------
                               Mr. Eugene L. Brill
                       Secretary, Chief Financial Officer and Director
                          (Principal Financial Officer)

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FORM 8K
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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): November 2, 2001

                                GLOBAL DECS CORP.
             (Exact name of registrant as specified in its charter)

                 UTAH                                   1-1767                              87-0267213
       (State of Incorporation)                (Commission File Number)         (IRS Employer Identification No.)

                          836 PROSPECT STREET, SUITE 2B
                               LA JOLLA, CA 92037
              (Address of Registrant's principal executive offices)

                                 (858) 459-0045
              (Registrant's telephone number, including area code)

                          THE GOLD CHAIN MINING COMPANY
                                 1554 LYLE DRIVE
                               SAN JOSE, CA 95129
          (Former name or former address, if changed since last report)
ITEM 5.  OTHER EVENTS

Overview

     On  November 2, 2001,  in a Special  Meeting of the Board of  Directors  of
Global DECS Corp.  ("GDEC")  (formerly  The Gold Chain Mining  Company),  a Utah
corporation,  the Board of  Directors  appointed  three  individual  persons  as
officers and directors of GDEC with  immediate  effect and at the  conclusion of
the meeting,  Mr.  Williard  Wiens,  Mr. Jim  Mitchell,  and Mr.  Murray  Johns,
collectively  the former  Board of  Directors,  all  resigned  their  respective
positions as officers and  directors of GDEC.  Mr. Wiens,  Mr.  Mitchell and Mr.
Johns had  replaced  the former  Board of  Directors  of The Gold  Chain  Mining
Company following a reorganization on June 29, 2001.

     The new officers and directors of GDEC are: Mr.  Malcolm J. Gold, a British
citizen,  as Chairman and a director;  Mr. Johann A. De Villiers,  a resident of
California, as President, Chief Executive Officer and a director; and Mr. Eugene
L. Brill, a resident of California, as Secretary,  Chief Financial Officer and a
director.  The  Resolution  of the Special  Meeting of the Board of Directors of
GDEC is included in this Current Report as Exhibit 99.1.

     On  November 7, 2001,  GDEC signed an  Assignment  Agreement  with  Antonia
Finance Limited ("Assignor"),  a British Virgin Islands corporation,  to acquire
all of  Assignor"s  rights,  title  and  interest  in and to an  asset  purchase
agreement  with  Vector  Medical  Technologies,  Inc.,  a  Delaware  corporation
("Vector"),  which was made and effective by and between  Assignor and Vector as
of October 31, 2001(the "Vector Contract"). The Assignment Agreement is included
in this Current Report as Exhibit 99.2.

     The Vector  Contract,  which is  entitled  "Asset  Acquisition  Agreement",
acknowledges that Vector is an  undercapitalized  company that does not have the
necessary capital resources to continue its product development and distribution
of the resulting  medical  products and for future  development  and  commercial
exploitation  in the  stream of  commerce  on a  world-wide  basis that would be
required to fully implement  their business plan. The Vector  Contract  confirms
the terms and  conditions  of the sale of the  principal  assets of Vector  (the
"Vector  Assets")  to  Assignor,  which  have been  assigned  to GDEC  under the
Assignment  Agreement,  subject  to  certain  terms and  conditions.  The Vector
Contract  will be included in the  Company's  earliest  next filing or quarterly
report.

     Vector is a development stage biopharmaceutical  technology company focused
on the commercial development,  marketing,  and distribution of products created
from two biomedical  breakthroughs.  The first is a method of delivering ethical
drugs  into the human  body,  through  the use of a  biopolymer  that  transmits
macromolecule  drugs  into the body.  Vector  has  contracted  for an  exclusive
license  and an option  to  purchase  the  patent  and  related  rights  for the
technology  regarding a transdermal  patch that may be placed on the skin, which
may deliver into the body large  moleclule  drugs,  such as insulin.  Vector has
also used this  technology  in  creating a facial  cream  product  that  removes
wrinkles and sagging skin designed for the cosmetics industry, which is marketed
under  the  name  GENER3ATIONS.   The  second  medical  breakthrough  owned  and
controlled by Vector is a patented  anti-viral  therapeutic  AIDS vaccine,  that
enhances the body's  immune system and  stimulates  the growth of T cells and NK
cells (so called  "natural  killer"  cells),  which has been  shown in  clinical
trials  on  humans  to  eradicate   the  deadly  AIDS  Virus   without   adverse
side-affects.

     On  November  19,  2001,  GDEC  announced  in a press  release  that it had
completed  the  assignment  of the Vector  Contract  from Assignor and that GDEC
intended to complete the purchase of the Vector Assets  pursuant to the terms of
such  agreement.  The press release  issued by GDEC  concerning  the  Assignment
Agreement is included in this Current Report as Exhibit 99.4.

Acquisition of Vector Assets by Assignment of Contract

     The Assignment Agreement provides for the acquisition by GDEC of the Vector
Assets in a transaction  described further below.  Vector is a development stage
company with limited  revenues and limited  operating  history that is primarily
engaged in the development for commercial  applications of medical  research and
technology.

     The Assignment  Agreement,  which was immediate and  irrevocable,  requires
that in exchange for the assignment by Assignor of the Vector  Contract to GDEC,
that  GDEC  shall  issue  and  deliver  to  the  Assignor   fifty-five   million
(55,000,000) newly issued fully paid and non-assessable restricted common shares
of stock in GDEC (the "GDEC Shares").  Such shares shall be restricted  pursuant
to Rule 144 of the  Securities  Act of 1933,  as amended.  In  exchange  for the
issuance and delivery of the GDEC Shares to Assignor,  which was completed on or
about November 9, 2001,  Assignor  irrevocably  assigned all of its right, title
and interest in and to the Vector Contract to GDEC.

     The Assignment  Agreement  contains certain other material  provisions,  as
follows:

     1. An  indemnification  and hold harmless provision by GDEC to Assignor and
its  affiliates.  GDEC  agrees  to  indemnify  and  hold  the  Assignor  and its
affiliates  harmless  from any and all  claims  or  demands  that may be made or
threatened, now or in the future, in relation to such agreement.

     2. GDEC shall  indemnify and hold harmless the Assignor and its  affiliates
to any  threatened,  pending or completed  action,  suit or proceeding,  whether
civil, criminal,  administrative or investigative,  by reason of or arising from
any misrepresentation or misstatement of facts or omission to represent or state
facts by any  party  made to GDEC (or any  agent or  representative  of GDEC) or
omitted, misrepresented or misstated by Assignor, including, without limitation,
any such misrepresentation, misstatement or omission contained in the Assignment
Agreement or any other document  submitted by GDEC or Assignor,  against losses,
liabilities  and expenses for which Assignor has not otherwise  been  reimbursed
(including  attorney's  fees,  judgments,  fines and amounts paid in settlement)
actually and  reasonably  incurred by Assignor in  connection  with such action,
suit or proceeding.

     3.  GDEC  assumes  and  covenants  to  fully  perform  any  and  all of the
obligations  and  responsibilities  of the Assignor  under the Vector  Contract,
acting in good faith,  subject to all of the terms and  conditions of the Vector
Contract.

     The Vector Contract contains certain provisions,  which upon completion are
expected to result in the  acquisition  of the Vector  Assets by GDEC,  free and
clear of any and all liabilities.  The assignment of the Vector Contract to GDEC
and the completion thereof, will result in the:

acquisition  by GDEC of the Vector Assets through which GDEC will acquire
patent and patent  rights for a  Therapeutic  AIDS Vaccine that  stimulates  the
human immune system,  for future  development and  commercialization,  as one of
GDEC's new line of businesses; and

acquisition  by GDEC of the Vector Assets through which GDEC will acquire
patent and patent rights for a transdermal  patch  technology for large molecule
drugs, for future development and  commercialization,  as one of GDEC's new line
of businesses; and

acquisition by GDEC of the Vector Assets through which GDEC will acquire
a  product  marketed  under  the  name pf  "Generations3",  which  utilizes  the
transdermal  delivery system to introduce  collagen and elastin through the skin
in a cream  compound  in order to assist in  reversing  the effects of the aging
process,  specifically  removing wrinkles and sagging skin, as one of GDEC's new
line of businesses; and

control of GDEC shifting to the Assignor and the stockholders of Vector,
who will then own  collectively  substantially  all of GDEC's  then  outstanding
common stock and will control GDEC's board of directors.

     There is no material  relationship  between  GDEC and its  subsidiaries  or
affiliates,  on the one hand,  and Assignor or Vector or its  affiliates  on the
other.
Conditions to Closing the Vector Contract

     There are a number of significant  conditions to GDEC's obligation to close
the Vector Contract, including the following:

     Vector shall convene a shareholders'  meeting and seek the  shareholders'
approval for the sale of the Vector Assets.

     Closing of the Vector Contract shall take place on or before 14 days from
the date that the majority of the Vector common shareholders' approve, adopt and
ratify the Vector Contract ("Closing").

     At Closing,  GDEC shall pay to Vector either  $49,900,000 in cash, which is
the balance of the $50,000,000  purchase price for the Vector Assets,  or in the
alternative, GDEC may elect to pay only $1,150,000 in cash to Vector, assume the
liability to make a rescission  offer or  settlement  agreement  with all Vector
creditors and  stockholders  who previously  purchased shares of common stock in
Vector  pursuant  to two  private  placements  totaling  $15,000,000,  and issue
$30,000,000  in  restricted  shares  of  common  stock  of  GDEC  to the  Vector
shareholders.  The amount of shares  that  equates to the  $30,000,000  shall be
calculated  based upon the bid price on the closing date of the  acquisition  of
the Vector Assets.  GDEC has the right to issue shares of restricted GDEC common
stock  in the  settlement  agreement  with  the  Vector  creditors  and  private
placement investors,  and to negotiate the terms of the settlement directly with
such parties.

     Customary  legal   opinions,   closing   certificates   and  other  closing
documentation  must have  been  received  from  Vector  and its  legal  counsel,
including,  but not limited to a legal opinion confirming that the Vector Assets
sale has been made in compliance with all Florida and Federal laws.

     Two Vector  shareholders,  Dr.  Michael H.  Salit,  Md.,  Ph. D.,  Vector's
Chairman and Director,  and a stockholder  representing 4,000,000 Vector shares,
and Jerome  Matusow  and his  corporate  entities,  who is a Vector  stockholder
representing  4,000,000  shares,  have both  irrevocably  agreed  in the  Vector
Contract to vote in favor of approving  the Vector  Contract and the sale of the
Vector  Assets  as  contemplated  therein,  and to vote in favor  of the  Vector
Contract  in a Vector  Shareholders'  resolution  or at a  Vector  Shareholders'
meeting.  These 8,000,000 shares represent in excess of 53% of the Vector common
shares entitled to vote on the approval of the Vector Contract.

Change of Control

     Stockholders of Assignor and Vector, collectively, will gain voting control
of GDEC and will be able to  effectively  appoint a majority  of the  members of
GDEC's board of  directors if the  transaction  contemplated  by the  Assignment
Agreement is successfully closed.

Forward-Looking Statements

     This  Current  Report  contains  "forward-looking  statements"  within  the
meaning of Section 27A of the  Securities  Act and Section 21E of the Securities
Exchange Act of 1934, as amended.  All statements made in this Current Report or
in the documents we have  incorporated  by reference  that are not statements of
historical fact are "forward-looking statements". Forward-looking statements can
generally be identified by the use of forward-looking terminology such as "may",
"will",  "expect",  "contend",  "estimate",  "anticipate",  "believe" or similar
terminology.  Forward-looking statements included in this Current Report include
discussions about the following:

     the Vector Contract transaction discussed in this Current Report;

     the future  potential for development and  commercialization  of the Vector
Assets and the related technology,

     the  anticipation  that the  transactions  described in this Current Report
will, in fact, be successfully closed.
We  caution  you not to  place  undue  reliance  on  these  forward-looking
statements,  which speak only as of the date of this Current  Report.  Important
factors  could  cause  actual  results  to differ  from those  expressed  in the
forward-looking statements, including the failure of GDEC to satisfy its various
conditions to closing the Vector Contract.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         Exhibit 99.1      Special Meeting of the Board of Directors of GDEC.
         Exhibit 99.2      Assignment Agreement.
         Exhibit 99.3      Asset Acquisition Agreement (Vector Contract).
         Exhibit 99.4      Press release announcing Assignment Agreement.

     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 hereunto duly authorized.

Date:  November 19, 2001                    GLOBAL DECS CORP.
                                                     A Utah corporation

                        By: /s/ Mr. Johann A. De Villiers
                            -----------------------------
                            Mr. Johann A. De Villiers
                     Chief Executive Officer, President and
                                   a Director
                          (Principal Executive Officer)

                           By: /s/ Mr. Eugene L. Brill
                               -----------------------
                               Mr. Eugene L. Brill
                       Secretary, Chief Financial Officer and Director
                          (Principal Financial Officer)