The organization was formed in Klettabrekka, Iceland in the mid-seventies by Sigurður Sigurðsson, the institute-officer of Glat at that time. Glat suffered a great loss of members after a dispute over the financial problems they had been facing over the years. Sigurður then formed a new organization he called "Yfirvofandi Bar" which hired financial instructors to embark on even greater projects than Glat had been dealing with. Although Sigurður left Glat many years ago, his older alias, "Siggi Glat", still remains. Glat is icelandic and means "to engage in the battle for freedom and people".
Yfirvofandi Bar has frequently worked with Coca Cola and numerous other big names. Yfirvofandi Bar's biggest project to this day is the "Yforvofandi Bar á Vísindakirkjuna" where it opposes the Church of Scientology's mission to spread its message.