Good Vibrations Shoes Inc. (GVSI)

Update: July 2017
New Company ~ New Vision
ELDER EYES
Merger and New CEO
http://www.prnewswire.com/news-releases/elder-eyes-llc-announces-merger-with-good-vibrations-shoes-and-the-appointment-of-a-new-ceo-300486774.html

Good Vibrations Shoes is acquired by Vindai Corporation in bid to dominate multi billion dollar police body camera industry to protect citizens from police brutality
Mon, 2015-07-27 01:27 PM

Vindai Corp. (OTCMKTS:GVSI) Crashes And Burns

Once a bit of due diligence on the company is done, it quickly becomes evident exactly why GVSI's total market valuation sank beneath a million dollars yesterday. Virtually every detail on this company that can be gleaned from its reports shocks with its mediocrity – and when put all together, they make for some pretty grim reading.

Let's start with the most obvious red flag - the company has had three name changes so far, two of which happened only 3 months apart. Back in march it allegedly filed to the SEC to be re-named “Long Beard Breweries”, a name better suited to its new business model.

Now that we've mentioned business models... GVSI has had a number of those. Investors are advised to take note of the end results of the last one:

Cash & current assets - $0
Goodwill & intangibles - $233 thousand
Total Current Liabilities - $334 thousand
No revenues ever
Annual Net Loss for 2015 - $3 thousand

Not much business going on in said “business model”, just an ugly picrute of OTC markets mediocrity. At this point, perceptive investors would probably not be surprised to learn that all of the company's liabilities take the form of convertible notes that can be turned into GVSI common stock, and the details relating to the discounts at which that can occur are lost to the mists of time. Also, each share of the company's Series “B” convertible stock is convertible into 500 shares of common stock.

Dilution has been a problem for the company in the past – which is why it has performed 2 10 for 1 reverse splits in the last seven years.