GelTech Solutions, Inc. ("GelTech" or the "Company") was organized on July 19, 2006 as a Florida corporation and was reincorporated on November 15, 2006 as a Delaware corporation. On July 20, 2006, GelTech issued Dyn-O-Mat, a related party affiliate, 7,250,000 shares of its common stock in exchange for all of Dyn-O-Mat's intellectual property except the unrelated "black mat business" and selected other assets and selected liabilities. GelTech was formed to act as a holding company for the intellectual property developed by Mr. Peter Cordani, our Chief Technology Officer and a director.