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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED
      STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WASHINGTON,
      DC 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM
      8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
      REPORT PURSUANT TO SECTION 13 OR 15(D) OF </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THE
      SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      report (Date of earliest event reported): January 13, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>GREEN
      MOUNTAIN CAPITAL, INC.</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Registrant as Specified in Its Charter)</font></div>
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            <td width="1%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16-1728655</font></div>
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            <td width="1%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nevada</font></div>
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                File Number)</font></div>
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            <td width="1%">&#160;</td>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                Employer Identification No.)</font></div>
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            <td width="1%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or Other Jurisdiction of
                Incorporation)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">201
      South
      Biscayne Boulevard, 28th Floor</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Miami,
      Florida 33131</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-----------------------------------------------------------------------
      </font></div>
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      of Principal Executive Offices)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
      Code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(917)
      620-6401</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-----------------------------------------------------------------------
      </font></div>
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      Telephone Number, Including Area Code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-----------------------------------------------------------------------
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Soliciting material
      pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
      1 - Registrant&#8217;s Business and Operations </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01 Entry into a Material Definitive Agreement</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      Current Report on Form 8-K is being filed to disclose that on January 13, 2006,
      Green Mountain Capital Inc. (&#8220;GMCI&#8221;) executed a Share Exchange Agreement (the
&#8220;Agreement&#8221;) with Internet Telecommunications, PLC, an English corporation
      (&#8220;ITPLC&#8221;), the stockholders of ITPLC, and Steven Bingaman and his
      affiliates</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Pursuant
      to the Agreement, at closing GMCI will acquire all of ITPLC&#8217;s issued and
      outstanding shares of common stock in exchange for shares of common stock and
      warrants of GMCI, as further described below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">However,
      consummation of the transaction will not take place unless and until certain
      conditions have occurred. If and when the transaction is consummated, GMCI
      will
      file a Form 8-K/A to disclose the details of the consummation of the business
      combination and the business of ITPLC, together with all other material items
      of
      disclosure, including without limitation, audited financial statements of ITPLC.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Agreement may be terminated at any time prior to the consummation of the closing
      by GMCI or by the ITPLC stockholders, if (a) the closing shall not have been
      consummated on or before April 13, 2006 or (b) if either party&#8217;s due diligence
      investigation indicates that any of the information provided for in the
      Agreement or in any of the information provided by the other party is
      inaccurate, incomplete or untrue in any way, or if such due diligence
      investigation reveals any facts, circumstances, liabilities or conditions that,
      in such party&#8217;s discretion, may adversely affect the value or prospects of the
      other party or that may expose the other party to any liability not heretofore
      fully disclosed. In addition, the closing is subject, including without
      limitation, to the following conditions: (a) prior to the closing, an entity
      affiliated with Mr. Bingaman will have caused to be invested in GMCI an
      aggregate of $3,000,000, less all amounts previously loaned to ITPLC, and less
      financing costs of up to 13%; (b) GMCI shall have received from ITPLC historical
      financial statements and other information about ITPLC as required to be
      included in a Form 8-K/A to be filed by GMCI with the United States Securities
      and Exchange Commission in connection with the closing, all in form and content
      satisfying the requirements of the SEC; and (c) all other documents requested
      by
      GMCI shall have been delivered.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
      the
      closing, the stockholders of ITPLC shall exchange their shares of ITPLC&#8217;s common
      stock for (a) 22.5 million newly issued restricted shares of common stock of
      GMCI and (b) 3.2 million warrants, each of which shall allow the holder thereto
      to purchase one share of common stock of GMCI at a purchase price of $1.00,
      exercisable prior to January 10, 2011. In addition, as noted above, an affiliate
      of Mr. Bingaman has undertaken to have caused to be invested in GMCI, prior
      to
      or at the closing an aggregate of $3,000,000, less all amounts previously loaned
      to ITPLC, and less financing costs of up to 13%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      all
      the terms and provisions of the Share Exchange Agreement, reference is hereby
      made to such agreement annexed hereto as Exhibit 10.1. All statements made
      herein concerning the foregoing agreement are qualified by references to said
      exhibit.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
      3 - Securities and Trading Markets</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      3.02 Recent Sales of Unregistered Securities</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      reliance upon the exemption from registration set forth in Section 3 (a) (10)
      of
      the Securities Act of 1933, as amended, GMCI proposes to issue shares of its
      common stock to Cayman Lender, Ltd., a Cayman Islands exempted company in
      voluntary liquidation (&#8220;Cayman&#8221;), in exchange for Cayman&#8217;s claims against GMCI
      pursuant to the terms of an agreement (the &#8220;Exchange Agreement&#8221;) entered into
      between GMCI and Cayman in Voluntary Liquidation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      that
      end, on January 9 and 12, 2006, the Grand Court of the Cayman Islands held
      a
      Hearing on the application of the Liquidators for approval of the Exchange
      Agreement, and the Court approved the terms of the Exchange Agreement and found
      them to be fair to Cayman. Absent an order from the Court approving the terms
      of
      the Exchange Agreement and declaring them to be fair to Cayman (the entity
      to
      receive the subject securities) there would have been no basis for reliance
      upon
      the exemption set forth in Section 3 (a) (10) for the issuance of shares of
      common stock to be issued to Cayman.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior
      to
      the Hearing, Cayman had entered into voluntary liquidation under Cayman law,
      so
      that, when Cayman entered into the Exchange Agreement, it was in liquidation,
      and the Exchange Agreement was the means by which Cayman&#8217;s Liquidators sought
      and obtained court approval for Cayman to receive shares of the Common Stock
      of
      GMCI in exchange for Cayman&#8217;s claims (then totaling $3,700,000.00) against GMCI,
      pursuant to Section 3 (a) (10) of the Securities Act of 1933, as amended.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By
      virtue
      of a previous agreement (the &#8220;Loan Agreement&#8221;) dated November 1, 2005, entered
      into between GMCI, Cayman, and Asset Growth Partners &amp; Company, LLC, a New
      York limited company doing business as &#8220;AGP &amp; Company&#8221; (&#8220;AGP&#8221;), GMCI had
      received $3,700,000.00 in loans (&#8220;Past Loans&#8221;) from Cayman. The Loan Agreement
      provides that, on demand, GMCI can require Cayman to make additional advances
      to
      GMCI not to exceed $21,300,000.00 (&#8220;Future Loans&#8221;). GMCI may obtain Future Loans
      so as to be able to continue to implement its re-organization by integrating
      the
      operations of ITPLC into GMCI&#8217;s own business plan. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      all
      the terms and provisions of the Loan Agreement, reference is hereby made to
      such
      agreement annexed hereto as Exhibit 10.2. All statements made herein concerning
      the foregoing agreement are qualified by references to said
      exhibit.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By
      virtue
      of the fact that Cayman is now, and will be, in liquidation, its activities
      with
      respect to the Loan Agreement (and the Exchange Agreement) are and will be
      conducted under the auspices of the Liquidation Proceedings. In that connection,
      in the Exchange Agreement the Liquidators indicated that, assuming the
      acquisition of ITPLC by GMCI, then</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">-
          3
          -</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
      as a
      result of the Past Loans, GMCI had already increased its shareholder value,
      and,
      as a result of the Future Loans, and it was anticipated that GMCI would continue
      to increase its shareholder value; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
      the
      Liquidators believed that it would be fair for, and in the best interest of,
      Cayman to exchange both its Past and Future Claims against GMCI for equity
      in
      GMCI, namely, shares of Common Stock of GMCI with a view to obtaining the
      benefit of Section 3(a)(10) of the Securities Act of 1933, as amended (the
      &#8220;Securities Act&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      that
      end, the Liquidators proposed that during the term of the Liquidation,
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">that
      Past
      Claims of Cayman (totaling $3,700,000.00) be exchanged for that number of shares
      of Common Stock of GMCI as are obtained by dividing the dollar amount of Past
      Claims by $0.1737089, so that Cayman would exchange its Past Claims against
      GMCI
      for 21,300,000 shares; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and</font><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align="left">&#160;

        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
          that
          Fu</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ture
          Claims of Cayman (up to $21,300,000.00) be exchanged </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">for
          that
          number of shares of Common Stock of GMCI as are obtained by </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">dividing
          the dollar amount of Future Claim(s) by no less than 30 % of the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bid
          price
          of&#160;the GMCI Common as reported on the Over the Counter Bulletin Board, or
          any exchange on which&#160;shares of GMCI&#8217;s common stock are
          traded.</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Absent
      the recommendation of the Liquidators that Cayman&#8217;s Claims against GMCI for
      these Loans be exchange</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">d
      for
      Common Stock of GMCI (followed by t</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">he
      app</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">roval
      of
      the Exchange Agreement by the Court), </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">these
      Claims would have had to have been repaid in cash, as per the Loan
      Agre</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">e</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ment.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      noted
      above, on January 9 and 12, 2006, the Grand Court of the Cayman Islands held
      a
      Hearing on the application of the Liquidators for approval of the Exchange
      Agreement. During the Hearing the Court took testimony, and during the Hearing,
      the Court found and ordered</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
      that
      the Court had subject matter and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>in
      personam</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      jurisdiction; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
      that
      all person(s), namely, Cayman, to whom GMCI proposed, pursuant to the Exchange
      Agreement, to issue shares of GMCI&#8217;s Common Stock, in exchange for claims held
      by Cayman against GMCI, received lawful prior notification of, and the
      opportunity to be heard at, such Hearing, and Cayman had adequate information
      about the proposed exchange so as to enable it to exercise its rights in a
      meaningful way;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
      that
      the Court was advised prior to the Hearing that if the terms and conditions
      of
      the Exchange Agreement were approved, the securities to be issued by GMCI,
      and
      to be received by Cayman pursuant to the Exchange Agreement, namely, shares
      of
      Common Stock of GMCI, would not be required to be registered under the
      Securities Act of 1933, as amended, by virtue of the exemption from registration
      set forth in Section 3 (a) (10) of the Securities Act;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">-
          4
          -</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
      that
      the Court requested, received, and declared that it had adequate information
      about the proposed exchange so as to be able to consider the matter in a
      meaningful way; and </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)
      that
      the terms of the Exchange Agreement by means of which </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GMCI
      is
      to issue, and Cayman is to receive, at the formulas set forth in the Exchange
      Agreement, shares of the Common Stock of GMCI in exchange for Cayman &#8217;s Claims
      [Past and Future] against GMCI are fair to Cayman.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After
      the
      Hearing, Cayman was provided with an opinion from Cayman Counsel which reflected
      the foregoing. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Thereupon,
      in reliance upon the exemption from registration set forth in Section 3(a)(10)
      of the Securities Act, GMCI proposes to issue 21,300,000 shares of its Common
      Stock to Cayman in exchange for Cayman&#8217;s Past Claims against GMCI.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      all
      the terms and provisions of the Exchange Agreement, reference is hereby made
      to
      such agreement annexed hereto as Exhibit 10.3. All statements made herein
      concerning the foregoing agreement are qualified by references to said
      exhibit.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      3.03 Material Modification to Rights of Security Holders</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GMCI
      has
      filed with the Secretary of State of Nevada a Certificate of Amendment to
      Articles of Incorporation, pursuant to which GMCI underwent a reverse stock
      split, effective as of January 12, 2006. On such date, shares of common stock
      held by each stockholder of record were automatically consolidated at the rate
      of one for one thousand (1 for 1,000) without any further action on the part
      of
      the stockholders. All fractional shares owned by each stockholder of record
      were
      aggregated and to the extent after aggregating all fractional shares any
      registered stockholder was entitled to a fraction of a share, such stockholder
      became entitled to receive one whole share in respect of such fraction of a
      share. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
      stock certificate issued prior to the January 12, 2006, from and after such
      date, automatically and without the necessity of presenting the same for
      exchange, represented that number of shares of common stock, as the case may
      be,
      into which the shares represented by such certificate were reclassified pursuant
      to the reverse stock split. Each stockholder of record of a certificate that
      represented shares of common stock prior to January 12, 2006, shall receive,
      upon surrender of such certificate, a new certificate representing the number
      of
      shares of common stock immediately after the reverse stock split.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
      all
      the terms and conditions of the Certificate of Amendment, reference is hereby
      made to such certificate annexed hereto as Exhibit 3.1. The Articles of
      Incorporation of Green Mountain is annexed as Attachment C to the Information
      Statement on Schedule 14C, filed with the Securities and Exchange Commission
      on
      March 18, 2005. All statements made herein concerning the foregoing documents
      are qualified by references to said exhibits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">-
          5
          -</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
      5 - Corporate Governance and Management</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
      Year</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      disclosure set forth above under Item 3.03 (Material Modification to Rights
      of
      Security Holders) is hereby incorporated by reference into this Item
      5.03.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
      9-Financial Statements and Exhibits</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01 Financial Statements and Exhibits</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
      Financial Statements of business acquired. </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
      Pro
      forma financial information.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
      Exhibits</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              3.1</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
                of Amendment to Articles of
                Incorporation</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              3.2</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Articles
                of Incorporation</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol"><sup>*</sup></font><font style="DISPLAY: inline">&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              10.1</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Share
                Exchange Agreement, dated January 12, 2006, among Green Mountain
                Capital,
                Inc., Internet Telecommunications, PLC and its stockholders, and
                Steven
                Bingaman and affiliates</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              10.2</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loan
                Agreement, dated November 1, 2005, among Green Mountain Capital,
                Inc.,
                Cayman Lender, Ltd. and Asset Growth Partners &amp;
                Company</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
              10.3</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exchange
                Agreement, dated December 29, 2005, among Green Mountain Capital,
                Inc. and
                Cayman Lender, Ltd. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="15%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Symbol"><sup>*</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Previously filed with the Securities and Exchange Commission as Attachment
      C to
      the Information Statement on Schedule 14C, dated March 18, 2005, and
      incorporated herein by reference.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GREEN
              MOUNTAIN CAPITAL, INC.</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
              January 23, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
              Shmuel Shneibalg</u></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font size="1">&#160;</font></td>
            <td align="left"><font size="2">Name: </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shmuel
              Shneibalg</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
              <font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt" size="3">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
              Executive Officer, Chief Financial Officer, President, and
              Director</font></font></td>
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{"company-data": {"conformed-name": "Green Mountain Capital Inc.", "cik": "0001081856", "assigned-sic": "3743", "irs-number": "161728655", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14883", "film-number": "06543886"}, "business-address": {"street1": "1207 DELAWARE AVE.", "street2": "SUITE 410", "city": "BUFFALO", "state": "NY", "zip": "14209", "phone": "716 332 6143"}, "mail-address": {"street1": "1207 DELAWARE AVE.", "street2": "SUITE 410", "city": "BUFFALO", "state": "NY", "zip": "14209"}, "former-company": [{"former-conformed-name": "Green Mountain Capital Inc", "date-changed": "20040923"}, {"former-conformed-name": "ARS NETWORKS INC", "date-changed": "20001012"}, {"former-conformed-name": "AMERI-CAN RAILWAY SYSTEMS INC", "date-changed": "19990511"}]}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      DC 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): January 13, 2006
GREEN
      MOUNTAIN CAPITAL, INC.
(Exact
      Name of Registrant as Specified in Its Charter)
001-14883
16-1728655
Nevada
(Commission
                File Number)
(IRS
                Employer Identification No.)
(State
                or Other Jurisdiction of
                Incorporation)
201
      South
      Biscayne Boulevard, 28th Floor
Miami,
      Florida 33131
-----------------------------------------------------------------------
(Address
      of Principal Executive Offices)
(Zip
      Code)
(917)
      620-6401
-----------------------------------------------------------------------
(Registrant's
      Telephone Number, Including Area Code)
-----------------------------------------------------------------------
(Former
      Name or Former Address, if Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
o
Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
      pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)
-
          1
          -
Section
      1 - Registrant's Business and Operations
Item
      1.01 Entry into a Material Definitive Agreement
This
      Current Report on Form 8-K is being filed to disclose that on January 13, 2006,
      Green Mountain Capital Inc. ("GMCI") executed a Share Exchange Agreement (the
"Agreement") with Internet Telecommunications, PLC, an English corporation
      ("ITPLC"), the stockholders of ITPLC, and Steven Bingaman and his
      affiliates
.
Pursuant
      to the Agreement, at closing GMCI will acquire all of ITPLC's issued and
      outstanding shares of common stock in exchange for shares of common stock and
      warrants of GMCI, as further described below.
However,
      consummation of the transaction will not take place unless and until certain
      conditions have occurred. If and when the transaction is consummated, GMCI
      will
      file a Form 8-K/A to disclose the details of the consummation of the business
      combination and the business of ITPLC, together with all other material items
      of
      disclosure, including without limitation, audited financial statements of ITPLC.
The
      Agreement may be terminated at any time prior to the consummation of the closing
      by GMCI or by the ITPLC stockholders, if (a) the closing shall not have been
      consummated on or before April 13, 2006 or (b) if either party's due diligence
      investigation indicates that any of the information provided for in the
      Agreement or in any of the information provided by the other party is
      inaccurate, incomplete or untrue in any way, or if such due diligence
      investigation reveals any facts, circumstances, liabilities or conditions that,
      in such party's discretion, may adversely affect the value or prospects of the
      other party or that may expose the other party to any liability not heretofore
      fully disclosed. In addition, the closing is subject, including without
      limitation, to the following conditions: (a) prior to the closing, an entity
      affiliated with Mr. Bingaman will have caused to be invested in GMCI an
      aggregate of $3,000,000, less all amounts previously loaned to ITPLC, and less
      financing costs of up to 13%; (b) GMCI shall have received from ITPLC historical
      financial statements and other information about ITPLC as required to be
      included in a Form 8-K/A to be filed by GMCI with the United States Securities
      and Exchange Commission in connection with the closing, all in form and content
      satisfying the requirements of the SEC; and (c) all other documents requested
      by
      GMCI shall have been delivered.
At
      the
      closing, the stockholders of ITPLC shall exchange their shares of ITPLC's common
      stock for (a) 22.5 million newly issued restricted shares of common stock of
      GMCI and (b) 3.2 million warrants, each of which shall allow the holder thereto
      to purchase one share of common stock of GMCI at a purchase price of $1.00,
      exercisable prior to January 10, 2011. In addition, as noted above, an affiliate
      of Mr. Bingaman has undertaken to have caused to be invested in GMCI, prior
      to
      or at the closing an aggregate of $3,000,000, less all amounts previously loaned
      to ITPLC, and less financing costs of up to 13%.
For
      all
      the terms and provisions of the Share Exchange Agreement, reference is hereby
      made to such agreement annexed hereto as Exhibit 10.1. All statements made
      herein concerning the foregoing agreement are qualified by references to said
      exhibit.
-
          2
          -
Section
      3 - Securities and Trading Markets
Item
      3.02 Recent Sales of Unregistered Securities
In
      reliance upon the exemption from registration set forth in Section 3 (a) (10)
      of
      the Securities Act of 1933, as amended, GMCI proposes to issue shares of its
      common stock to Cayman Lender, Ltd., a Cayman Islands exempted company in
      voluntary liquidation ("Cayman"), in exchange for Cayman's claims against GMCI
      pursuant to the terms of an agreement (the "Exchange Agreement") entered into
      between GMCI and Cayman in Voluntary Liquidation.
To
      that
      end, on January 9 and 12, 2006, the Grand Court of the Cayman Islands held
      a
      Hearing on the application of the Liquidators for approval of the Exchange
      Agreement, and the Court approved the terms of the Exchange Agreement and found
      them to be fair to Cayman. Absent an order from the Court approving the terms
      of
      the Exchange Agreement and declaring them to be fair to Cayman (the entity
      to
      receive the subject securities) there would have been no basis for reliance
      upon
      the exemption set forth in Section 3 (a) (10) for the issuance of shares of
      common stock to be issued to Cayman.
Prior
      to
      the Hearing, Cayman had entered into voluntary liquidation under Cayman law,
      so
      that, when Cayman entered into the Exchange Agreement, it was in liquidation,
      and the Exchange Agreement was the means by which Cayman's Liquidators sought
      and obtained court approval for Cayman to receive shares of the Common Stock
      of
      GMCI in exchange for Cayman's claims (then totaling $3,700,000.00) against GMCI,
      pursuant to Section 3 (a) (10) of the Securities Act of 1933, as amended.
By
      virtue
      of a previous agreement (the "Loan Agreement") dated November 1, 2005, entered
      into between GMCI, Cayman, and Asset Growth Partners & Company, LLC, a New
      York limited company doing business as "AGP & Company" ("AGP"), GMCI had
      received $3,700,000.00 in loans ("Past Loans") from Cayman. The Loan Agreement
      provides that, on demand, GMCI can require Cayman to make additional advances
      to
      GMCI not to exceed $21,300,000.00 ("Future Loans"). GMCI may obtain Future Loans
      so as to be able to continue to implement its re-organization by integrating
      the
      operations of ITPLC into GMCI's own business plan.
For
      all
      the terms and provisions of the Loan Agreement, reference is hereby made to
      such
      agreement annexed hereto as Exhibit 10.2. All statements made herein concerning
      the foregoing agreement are qualified by references to said
      exhibit.
By
      virtue
      of the fact that Cayman is now, and will be, in liquidation, its activities
      with
      respect to the Loan Agreement (and the Exchange Agreement) are and will be
      conducted under the auspices of the Liquidation Proceedings. In that connection,
      in the Exchange Agreement the Liquidators indicated that, assuming the
      acquisition of ITPLC by GMCI, then
-
          3
          -
(a)
      as a
      result of the Past Loans, GMCI had already increased its shareholder value,
      and,
      as a result of the Future Loans, and it was anticipated that GMCI would continue
      to increase its shareholder value; and
(b)
      the
      Liquidators believed that it would be fair for, and in the best interest of,
      Cayman to exchange both its Past and Future Claims against GMCI for equity
      in
      GMCI, namely, shares of Common Stock of GMCI with a view to obtaining the
      benefit of Section 3(a)(10) of the Securities Act of 1933, as amended (the
      "Securities Act").
To
      that
      end, the Liquidators proposed that during the term of the Liquidation,
(a)
that
      Past
      Claims of Cayman (totaling $3,700,000.00) be exchanged for that number of shares
      of Common Stock of GMCI as are obtained by dividing the dollar amount of Past
      Claims by $0.1737089, so that Cayman would exchange its Past Claims against
      GMCI
      for 21,300,000 shares;
and
(b)
          that
          Fu
ture
          Claims of Cayman (up to $21,300,000.00) be exchanged
for
          that
          number of shares of Common Stock of GMCI as are obtained by
dividing
          the dollar amount of Future Claim(s) by no less than 30 % of the
Bid
          price
          of the GMCI Common as reported on the Over the Counter Bulletin Board, or
          any exchange on which shares of GMCI's common stock are
          traded.
Absent
      the recommendation of the Liquidators that Cayman's Claims against GMCI for
      these Loans be exchange
d
      for
      Common Stock of GMCI (followed by t
he
      app
roval
      of
      the Exchange Agreement by the Court),
these
      Claims would have had to have been repaid in cash, as per the Loan
      Agre
e
ment.
As
      noted
      above, on January 9 and 12, 2006, the Grand Court of the Cayman Islands held
      a
      Hearing on the application of the Liquidators for approval of the Exchange
      Agreement. During the Hearing the Court took testimony, and during the Hearing,
      the Court found and ordered
(a)
      that
      the Court had subject matter and
in
      personam
jurisdiction;
(b)
      that
      all person(s), namely, Cayman, to whom GMCI proposed, pursuant to the Exchange
      Agreement, to issue shares of GMCI's Common Stock, in exchange for claims held
      by Cayman against GMCI, received lawful prior notification of, and the
      opportunity to be heard at, such Hearing, and Cayman had adequate information
      about the proposed exchange so as to enable it to exercise its rights in a
      meaningful way;
(c)
      that
      the Court was advised prior to the Hearing that if the terms and conditions
      of
      the Exchange Agreement were approved, the securities to be issued by GMCI,
      and
      to be received by Cayman pursuant to the Exchange Agreement, namely, shares
      of
      Common Stock of GMCI, would not be required to be registered under the
      Securities Act of 1933, as amended, by virtue of the exemption from registration
      set forth in Section 3 (a) (10) of the Securities Act;
-
          4
          -
(d)
      that
      the Court requested, received, and declared that it had adequate information
      about the proposed exchange so as to be able to consider the matter in a
      meaningful way; and
(e)
      that
      the terms of the Exchange Agreement by means of which
GMCI
      is
      to issue, and Cayman is to receive, at the formulas set forth in the Exchange
      Agreement, shares of the Common Stock of GMCI in exchange for Cayman 's Claims
      [Past and Future] against GMCI are fair to Cayman.
After
      the
      Hearing, Cayman was provided with an opinion from Cayman Counsel which reflected
      the foregoing.
Thereupon,
      in reliance upon the exemption from registration set forth in Section 3(a)(10)
      of the Securities Act, GMCI proposes to issue 21,300,000 shares of its Common
      Stock to Cayman in exchange for Cayman's Past Claims against GMCI.
For
      all
      the terms and provisions of the Exchange Agreement, reference is hereby made
      to
      such agreement annexed hereto as Exhibit 10.3. All statements made herein
      concerning the foregoing agreement are qualified by references to said
      exhibit.
Item
      3.03 Material Modification to Rights of Security Holders
GMCI
      has
      filed with the Secretary of State of Nevada a Certificate of Amendment to
      Articles of Incorporation, pursuant to which GMCI underwent a reverse stock
      split, effective as of January 12, 2006. On such date, shares of common stock
      held by each stockholder of record were automatically consolidated at the rate
      of one for one thousand (1 for 1,000) without any further action on the part
      of
      the stockholders. All fractional shares owned by each stockholder of record
      were
      aggregated and to the extent after aggregating all fractional shares any
      registered stockholder was entitled to a fraction of a share, such stockholder
      became entitled to receive one whole share in respect of such fraction of a
      share.
Each
      stock certificate issued prior to the January 12, 2006, from and after such
      date, automatically and without the necessity of presenting the same for
      exchange, represented that number of shares of common stock, as the case may
      be,
      into which the shares represented by such certificate were reclassified pursuant
      to the reverse stock split. Each stockholder of record of a certificate that
      represented shares of common stock prior to January 12, 2006, shall receive,
      upon surrender of such certificate, a new certificate representing the number
      of
      shares of common stock immediately after the reverse stock split.
For
      all
      the terms and conditions of the Certificate of Amendment, reference is hereby
      made to such certificate annexed hereto as Exhibit 3.1. The Articles of
      Incorporation of Green Mountain is annexed as Attachment C to the Information
      Statement on Schedule 14C, filed with the Securities and Exchange Commission
      on
      March 18, 2005. All statements made herein concerning the foregoing documents
      are qualified by references to said exhibits.
-
          5
          -
Section
      5 - Corporate Governance and Management
Item
      5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
      Year
The
      disclosure set forth above under Item 3.03 (Material Modification to Rights
      of
      Security Holders) is hereby incorporated by reference into this Item
      5.03.
Section
      9-Financial Statements and Exhibits
Item
      9.01 Financial Statements and Exhibits
(a)
      Financial Statements of business acquired.
Not
      applicable
(b)
      Pro
      forma financial information.
Not
      applicable
(c)
      Exhibits
Exhibit
              3.1
Certificate
                of Amendment to Articles of
                Incorporation
Exhibit
              3.2
Articles
                of Incorporation
*
Exhibit
              10.1
Share
                Exchange Agreement, dated January 12, 2006, among Green Mountain
                Capital,
                Inc., Internet Telecommunications, PLC and its stockholders, and
                Steven
                Bingaman and affiliates
Exhibit
              10.2
Loan
                Agreement, dated November 1, 2005, among Green Mountain Capital,
                Inc.,
                Cayman Lender, Ltd. and Asset Growth Partners &
                Company
Exhibit
              10.3
Exchange
                Agreement, dated December 29, 2005, among Green Mountain Capital,
                Inc. and
                Cayman Lender, Ltd.
*
Previously filed with the Securities and Exchange Commission as Attachment
      C to
      the Information Statement on Schedule 14C, dated March 18, 2005, and
      incorporated herein by reference.
-
          6
          -
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.
GREEN
              MOUNTAIN CAPITAL, INC.
Date:
              January 23, 2006
By:
/s/
              Shmuel Shneibalg
Name:
Shmuel
              Shneibalg
Title:
Chief
              Executive Officer, Chief Financial Officer, President, and
              Director
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          7
          -