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Balance sheet ought to be interesting on 10Q. Wonder how the $ 16,000,000 debt to David Dadon's Nacelle Corp. will be handled. It clearly is a liability. Bet the accountants had a hard time listing the "option" as a $ 16,000,000 offsetting asset on the balance sheet. Remember the $ 16,000,000 at 5% interest is owed even if GSTY doesn't buy the land.
Also how do you handle the 10%, 2%, and 3% "fully diluted"
deals that Cataldo and the directors got? Maybe the accountants wanted out before Cataldo built in a discounted convertible debt with a "ratchet down lock in provision" deal for himself, his lackeys, or a new investor.
Perhaps we could recommend Bob Staats and his "Cataldo Stock Dilution" software program to the new accountants MSPC LLP.
It just keeps getting better doesn't it?
Its Tony time..
Yeah I read that.
Interesting no doubt.
runn I'll bet one of the bones of contention on the 10Q was how much had to be revealed in 10Q about events after 3-31-2009. The subsequesnt events section which would have included the 4-1-2009 and 4-10-2009 resignations of Nelson and Figlewicz the 4-10-2009 distributions of the 10%, 2%, and 3% "fully diluted" deals to Cataldo and the directors, the loss of the corporate website as well as possibly the 5-19-2009 accountants resignation.
Time will tell.
runn I certainly hope that they did make the filing . It should be a good read.
Did you see where a poster here said that he called 310 area code corporate office phone number and was told that Cataldo and Green Street were no longer there. Interesting, if true.
Unanswered questions.
1. What are details of is Tony Cataldo's employment agreement... salary, perks etc. This has never been revealed that I know of.
2. Where is Tony hanging his hat these days? Southern California(company headquarters?), Illinois (home of his cell phone number), New York City (home of new accounting firm?), France (where 13 of his films are being released), or someplace else.
3. Details of why Nelson and Figlewicz and accounting firm resigned?
4. Whatever happened to the company website? And why was it owned by Barry Dadon instead of Green Street?
5. We know what Figlewicz got on 4-10-2009 as respects his 2% "fully diluted" deal. What about Cataldo, Nelson, Pruitt, and Panahi? What did they get? If they got anything, why didn't they make SEC filings on same?
6. Why did GSTY have $ 383,000 of liabilities on 12-31-2008 financials when Turek was supposed to take care of those?
7. Based on a recent post on this board, has Cataldo and Green Street abandoned their corporate 310 area code phone number and/or their offices in California?
8. Why has the $ 10,000 a month "mouthpiece" of GSTY, CEOcast.com not mentioned GSTY for over 2 months? Are they still being paid?
9. When will Tony beholding his first stockholders meeting for GSTY?
10. When will Tony be holding his first conference call for GSTY?
and for me and Runncoach only 2 bonus questions about Cataldo
Wonder how those VOIC patent lawsuits and razrclick contracts are doing?
When is Tony scheduled for another trip to Wilmington NC?
These questions and more will hopefully be answered. Stay tuned to "SOAP"
Well at least Tony hasn't used the excuse that he was abducted by aliens and couldn't make the filing on time.
Go "Daddyfox"
Go "Jungle Juice"
Go "Very Mean Men"
Bloodhound
IMO from reading the 8k, there is in fact a quarterly filing out there. Maybe I'm reading it wrong but the accountants put out a report and then resigned. We just aren't seeing a link to that report for whatever reason. Maybe we'll get the chance to read it tomorrow...or then again I could be wrong. Just hope they never pull the voic filing links. I used to back up filings like that on the computer just in case all such links disappeared and I got bored lol.
runncoach
I have been reading the SEC filings at Nasdaq.com
Strangely Nasdaq.com now says that they have no filings for Green Street (GSTY) or Calypte (CBMC). They do have them for other companies I follow.
Any thoughts as tyo why this has occurred. Both companies are now out of compliance of SEC filing date for first quarter 10Q but neither has gotten an E yet.
olet us not forget:
On February 12, 2009, the Issuer (the "Company") entered into an Exclusive Option to Purchase Unimproved Land with The Nacelle Corporation (the "Agreement"). Pursuant to the terms of the Agreement, the Company obtained a three (3) year option to purchase 4,840 acres of unimproved property in Tehachapi, California (the "Property"). In consideration for the option to purchase the Property, the Company issued a three (3) year $16 million convertible debenture which will earn interest at a rate of five (5%) percent per annum (the "Debenture")
5% of $ 16,000,000 is $ 800,000. That is $ 200,000 per quarter. If by chance the interest was payable quarterly, well I think we can all see where this is going.
Wonder how those 13 Cataldo/Dadon films, being released at Cannes as we speak, are doing.
Apparently the Cataldo reason for not filing 10Q is:
"Hey its not my fault, the accounting firm resigned the day before the late filing due date."
Man I haven't looked forward to a Cataldo 10Q this much since the 11-14-2003 10Q at Calypte where Tony was proved wrong about the cash burn, cash in bank, number of shares outstanding, expense reductions, and "orders on hand" statements he had made about Calypte.
This 10Q would have been very "revealing" as well if the truth be told, and the SEC filings are the place to tell the truth.
One of Cataldo supporters that year(2003) said that Cataldo would be Time's "Man of the Year".
No chance for that here. I believe that Bernie Madoff has that one tied up.
So now question is just WHEN will GSTY or GSTYE be getting a 10Q out.
Will it be before or after:
Tony's old company VOIC files it 10K for 2007 promised 4-1-2008
Tony's old company Calypte files its 10Q for first quarter of this year.
HMM if this is right MSPC LLP , it is a New York based firm with the following principals.
Joseph J. Corcoran - Managing Principal
Angelo J. Coppolino - Principal David Evangelista - Principal
James J. Flannery - Principal Jon S. Gagliardi - Principal
Michael Halkias - Principal Robert J. Jannelli - Principal
Michael Kayser - Principal Rick J. Montalbano - Principal
Michael G. Mullen - Principal Ronald J. Ruggeri - Principal
Patrick M. Trombetta - Principal
with 7 of the 12 principals with an Italian surname Tony Cataldo probabaly feels right ata home.
Well I always say that a California based wind farm company should always have a NY accounting firm especially if they are close to law offices of Mr. Baratta.
This is especially true if 2 of your directors, one third of the employees and the accounting firm all resign before the first 10Q is ever filed, and your website disappears as well.
Perhaps CEOcast.com will cover the happenings in their next newsletter.
Tony Cataldo = simply unbelievable
Looks like my little Cataldo/accountants scenario might have been mighty close to the truth.
HMM put out a 10Q or resign, guess maybe that was the choice.
Bloodhound
I'm seeing an 8k on change of accountants so far. Still no earnings yet fwiw.
well its the last day to file the 10Q even with the 5 day extension and its after the market close. Well Tony Boy where is it?
Is it at the same place at the 10K for VOIC after you filed for the extension?
Tony has dragged this out as long as he can. Its owning up time Tony....
Will Tony "I Like My Deal" Cataldo meet his 10Q filing requirement today or will we be looking at GSTYE?
Today is the big day that Tony Cataldo clears up ALL the questions about Green Street
Well MOST of the questions anyway.
SOME of the questions?
ANY of the questions?
Tomorrow Wednesday 5-20-1009 will be the 5th calendar day after 5-15-2009, the day Tony Cataldo has promised to make his late 10Q filing on GSTY.
[x] (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date;
I am REALLY looking forward to this filing.
So many unanswered questions that should be cleared up.
Lets see what Tony tells us tomorrow.
did you try the 630 number?
Called the 310 number, the operator said Tony Cataldo or Green Street are no longer "here"
Can you just see the accountants and Tony 's discussion about the first quarter.
"Tony we notice that the company website is down and apparently the website was registered to the son of David Dadon, an old movie buddy of yours, instead of the company. And it was set up 10 days before the company changed its name to Green Street. Whats up with that?
To top that off you paid most of the company's cash, $ 260,000, to David Dadon plus a $ 16,000,000 convertible note (at 5% interest) just for an option to purchase his acreage. Come on no one sets up that kind of deal Tony.
With you getting a 10% deal and your directors an additional 9% combined on the "fully diluted stock" don't you think someone will see through this "convertible debt option deal" arrangement as one that gets at 10% you and your 9% directors a total of over 5 million shares/options under the fully diluted deal?
Come on Tony, then Dadon announces that you and he are releasing 13 of your films at Cannes this month. Don't you think this is a bit too obvious.
and yeah Tony the $ 10,000 a month plus free stock to CEOcast run by ex-con Michael Wachs was a pure stroke of genius on your part. I know he has been a part of your past companies but $ 10,000 a month and they only post the company's press releases. The last time they did anything at all was over 2 months ago. How can you justify % $10,000 a month for that?
Finally Nelson the 3% director and Figlewicz an employee and a 2% director both resigned in early April. No 8K was filed on Figlewicz resignation and no form 4/5s on the stock/options if they were received by yourself, Pruitt, Panahi and possibly Nelson. This needs to be done.
Tony as Ricky Richardo would say: you have a lot of Splaining to do in this 10Q.
So lets have the facts Tony."
I'll bet the accounting firm may be having second thoughts about handling the "Cataldo account"; although after handling Turek maybe Cataldo is also doable.
actually runncoach 5 calendar days after the due date will be 5-20-2009 or Wednesday. The most interesting thing is Tony Cataldo's new phone number:
Anthony J. Cataldo 630 401-9217
Which is an Aurora Illinois phone number.(Will Tony turn up in a Chicago area based business next?)
Maybe the old MWAV folks gave him this number to use, instead of the new California number of:
" The Company’s trading symbol has changed to GSTY.OB. In addition, the Company has changed its corporate address to 123 Green St., Tehachapi, CA 93561, phone number (310) 556-9688 and fax (310) 277-1278."
I did notice that then company's accountants are in Illinois so maybe Tony is in their offices atraightening things out and using the 630 number while he is there.
Or maybe this 630-401-9217 number is a Voip Cell phone that can be used overseas.
Wednesday it will all be here in black and white.
Late filing
At least he filed the form to say he was going to be filing late. Guess we'll see the report by Friday then?
Top 10 Tony Cataldo reasons for not filing 10Q on time?(TIC)
1. Not ny fault, I was out of the country looking for funding for Green Street.
2. Not my fault, the CFO quit and left a bunch of filings backed up: form 4/5s, 8K, as well as 10Q.
3. Not my fault, I sent the 10Q to website to post and forward to SEC. How was I to know the site wasn't working?
4. Look its just me and Dameron left at company and neither one of us is real good with filings without help. (the I just sign em, I don't type em and file em argument.)
5. Hey GSTY is just about out of money and I thought we could drop down to the pink sheets and "fly under the radar" for a while, saving us the cost and headache of all those pesky SEC filings. (Was that an old MEMI argument?)
6. Gee I'm sorry I am recovering from a horrible battle with amensia. I woke up in Cannes France with no knowledge of who or what I was.
7. When I get my salary and 10% stock deal caught up to date and filed, then I'll worry about doing a 10Q.
8. Its not my fault, I was so busy looking for 2 new directors and a CFO that I must have forgot about the 10Q.
9. Its not my fault, its the California
Pacific Standard Time. We are always running behind everyone else time-wise.
10. Hey get off my back. At least I filed a 10K which is more than I did at my last company.
All in fun with tongue planted firmly in cheek. Hopefully Tony's reason will be more plausible.
Like, I caught the swine flu while on a trip to locate funding for GSTY and have just now recovered and didn't want to expose anyone else. (runncoach insider)
Cataldo Lovers (are there any left?)
What is your reaction to getting the middle finger salute from Tony Cataldo when it comes to GSTY filing their 10Q on time?
10Q not filed on time. Not only that but Tony Cataldo arrogant enough not to even file a 10Q NT.
Looks like Tony's quickest E symbol may be coming.
Website disappeared
2 directors resigned.
Tony's got some splaining to do, come Monday. Perhaps all you invested with him will follow up and let us know what his current "story" is.
Have to wonder what Turek saw in Tony's profile that endeared him.
Maybe
If he's in Cannes for the festival, he just has his time zones mixed up lol. Of course that could still be the case on the filing that voic shareholders are still waiting on too lol.
Investing in a Tony Cataldo run company is like parking your car under a phone line where birds are roosting.
You KNOW what you are going to get.
Overheard at Cannes France film showing?
"I upped my income at Green Street Energy. Up yours"
10Q or not 10Q; that is the question.
Its Friday, its the last day, and its after the close of the market. Triple witching hour for a Tony Cataldo SEC filing, doncha think?
10Qs and 10Ks, as close to "spin free" as it gets on Tony Cataldo companies.
Any guesses on how much cash will be in bank on 3-31-2009. My guess is less than $ 100,000. And I also predict there will still be over $ 300,000 owed to initial (12-31-2008) creditors and another $ 16,000,000 owed to David Dadon for the option to purchase his land.
Any word on whether Tony Cataldo will be conducting a conference call on the first quarter results?
should we be playing taps for :
http://www.greenstenergy.com ?
May 15, 2009 last day to file 10Q.
We should know more about GSTY by end of day.
Unless Tony files a 10Q NT..
HMM well THIS is strange. CEOcast, Green Street's $ 10,000 a month pump machine hasn't said anything public that I can can find since this newsletter article 2 months ago on 3-15-2009.
"Green St. Energy (OTCBB: MWAV), a company developing a portfolio of renewable wind energy assets, received news last week that validates its acquisition of a three-year option to acquire 4,840 areas of land located in Tehachapi to develop a wind farm. The neighboring 3,100 MW Alta Wind Project in Tehachapi, California was sold for $325 million, plus the assumption of approximately $65 million of outstanding letters of credits. According to reports, Allco Finance Group Limited, the project's owner, received over 60 indications of interest, with seven bidders invited to submit fully binding proposals. The project was estimated to have great value due to its access to transmission lines, which enticed Southern California Edison to enter into an agreement to purchase the energy produced by the project. Green St. believes that its acreage is located in an area comparably suited for wind energy production and that it will also have access to transmission lines when completed. Shares gained 24 cents on the week to close at $0.37."
Nothing from company pump machine in 2 months. Company website has disappeared. I guess Tony will catch us up to date tomorrow.
I noticed that CEOcast is covering one stock that has the perfect stock symbol for a Tony Cataldo company, however. Its symbol is SRRY.
You know if I ween't so trusting it might look like Tony Cataldo and David Dadon sucked all the money out of Green Street, quit paying CEOcast and website host and took the cash and went to Cannes with their 13 joint films causing Nelson and Figlewicz to resign. Nah, nobody, not even Cataldo would do that. The SEC would throw him under the bus for that. I am sure that these are just cost saving measures Tony has put in while he finishes negotiations for operating capital for the company.
Stay tuned for the 10Q update tomorrow.
Anyone heard whether Tony Cataldo will be having a conference call tomorrow to discuss the first quarter 10Q (that will be filed by then) and subsequent events?
Perhaps the $ 10,000 a month PR/IR firm CEOcast will know. I'll go check.
I thought a form 4 or form 5 had to be filed within a month of receiving stock or warrants by insiders. Could it be that Figlewicz was the ONLY director to grab his 2% stake?
Tony Cataldo
10 True descriptions (SAFE HARBOR STYLE)
1. A man on the go
2. Simply unbelievable
3. Experienced
4. A difference maker
5. Takes a stake in the companies he heads
6. Makes company stock available to even the smallest investors
7. Creative financing genius
8. A man who helps his friends
9. A man who will do whatever it takes
10. Nobody could do the job better than Tony Cataldo.
LOL
That is certainly entertaining bloodhound. That's the thing about undisclosed land locations I suppose...multiple uses I guess lol.
I found this amusing. I bet you will too.
Giants Entertainment brought a whopping 17 titles to Cannes. A few days before the festival's wrap, David Dadon -- the mysterious Israeli producer who blanketed the Croisette with posters and took out pages and pages of advertising for an army of theatrical projects -- says he had sold off just over $7 million worth of foreign rights, including a $1.7 million Japanese deal for Very Mean Men.
Dadon has worked with Avi Lerner's Nu Image, with Miracle Entertainment and, for a time, had a company with Menahem Golan called Golan/Dadon Impact Pictures Intl.
But, he was weary of being stiffed of credit, respect and, on occasion, cash, all from would-be buyers. He wanted his own banner and total control.
Dadon says he launched Giants with $100 million of his own money. "I'd like to do three pictures a month, get to 50 pictures and then I'm going public," Dadon says. He plans to acquire Internet companies and film libraries along the way.
It's helpful to his grand plans, he says, that he "can call any star at home."
More than stars, he needs staff, which currently consists of himself and his wife and producing partner, Lydia. He's ejected the sales agents he hired to represent the company in Cannes this year: "I hired four people to come two months ago. I fired them."
As a result, he's been taking at least 30 meetings a day at Cannes by his reckoning.
"I like it. I'm good at marketing. It's what I did in the clothing business." Dadon, who used to own Steel Sportswear, says that biz (which he says he sold for seven figures) and other side investments helped him create the wealth that lets him finance pics on his own.
Dadon calls Very Mean Men, with Matthew Modine, Martin Landau, Ben Gazzara and Louise Fletcher, "the best movie I ever made" and says he fully expects an Oscar nomination. The others, which run the gamut from drug lords to kung-fu kids to cops to Renaissance princes to ancient curses, "are just money makers."
Dadon insists the whole lot will be ready for the London Screenings and Mifed this fall.
Dadon says he won't spend more than $15 million per pic for now, but plans to work up to bigger and bigger projects.
Far from the Croisette, Dadon has built studios on private property -- his own and that of friends -- in a town he declined to name somewhere near Bakersfield, Calif. The mayor and chief of police are his pals and help him out, if, say, he needs police cars for a shoot.
Pressed on the location, he says, "I'm trying to keep a low profile."
Copyright 2000 Cahners Publishing Company.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Please note the copyright date.
Tony Cataldo to David Dadon?
Yeah David I know that we are releasing 13 movies in Cannes and I would certainly like to be there with you. However I have to get the 10Q filed by this Friday, and need to schedule a conference call with the stockholders either on Friday on early next week. I also need to get our website back up and working with all the corrections in place. Jeff and Bruce resigning in early April just made it imperative that I stay here take over the reins and get these things done.
Hopefully I can have everything done by next Tuesday and I can fly to Cannes for the last few days of the festival.(Can't write the trip off on GSTY expense account though, as Cannes is not part of the GSTY expenses.)
As always I remain, Tony "work before pleasure" Cataldo
No news from GSTY so far this week.
No 10Q
No 10QNT
No 8Ks
No form 4s
No form 5s
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
On a related note no 10K for 2007 has yet been filed at Tony's last CEO job at VOIC either.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Present stock prices of last 6 companies where Tony Cataldo was Chairman, Co-Chairman and/or CEO.
GSTY 0.15
VOIC 0.002
MCET 0.0101
BPTR 0.03
CBMC 0.006
MEMI 0.0001
Tony Cataldo = the shortsellers best friend? (TIC)
If Tony ends up in Cannes this month, I would love to hear the following:
"Angry (fill in appropriate company name) stockholders paging Tony Cataldo."
over the hotel's loudspeaker system.
You do have to wonder
If he's already walked away when the can't even keep up a website IMO. Based on his last two companies' records dealing with website host, I think I would ask for my money up front lol.
10Q or not 10Q? That is the question of the week.
or
Dude, where's my website?
or
Cannes Tony Cataldo be counted on to do the right thing?
Friday may 8th 2009. Just one week to go until Tony files the 10Q on GSTY and lets us all know how well the company fared in frst quarter and hopefully has a conference call to "explain" his actions and answer questions about GSTY, himself, the resigning directors, the non functioning website, and his close association with the Dadons, who ended up with most of GSTY's cash.
Just s wondering, Jeff Figlewicz said in his form 5 filing that he resigned on 4-10-2009. When director Bruce Nelson resigned on 4-1-2009 the company filed an 8K. However when Jeff Figlewicz, also a director as well as one of the 3 company employees, resigned the company did not file an 8K. Wonder why?
Did form 5 filing meet that requirement?
No 8K on Figlewicz resigning, No SEC filings by Cataldo, Pruitt, Panahi, or Nelson about their % stock awards that they were to receive on 4-10-2009 (Figlewicz did file his). Comapny website has been dead for about a month.
On the plus side Tony Cataldo and David Dadon will be releasing 13 films they jointly produced at this year's Cannes Film Festival in France May 12-24.
Looks like recent $ .32 stock price might be a "high water mark" for this latest Tony Cataldo fiasco.
Happy Star Wars Day
May the 4th be with you.
GSTY 10Q due out in next 11 days. The 10Q should answer many questions. Here are some that need answers.
1. Income in first quarter?
2. How much of starting cash of $ 456,000 was left in bank on 3-31-2009?
3. MWAV/GSTY started off with $ 383,030 of current liabilities for accounts payable and expenses accrued. What was this for? Wasn't Turek supposed to take care of these in the "buyout"? Why wasn't this done? Does GSTY still owe for these or have they been taken care of?
4. What are the salaries and other contract conditions for employees of GSTY? Cataldo, Figlewicz (now gone and apparently on a $ 175,000 annual salary) and Dameron.
5. GSTY website -- several questions.
a. Why was it registered to a Barry dadon son of Cataldo friend David Dadon (who later sold acreage to MWAV/GSTY and optioned more at a $ 16,000,000 figure) about 10 days prior to MWAV changing its bane to Green Street Energy?
b. Why did it falsely state that Tony Cataldo and Magic Johnson opened NEW YORK STOCK EXCHANGE including a 9-14-2004 photo of Tony and Magic at an AMEX bell ringing for Calypte Biomedical(HIV), a company that Tony left 2 months later after stock fell 50% from bell ringing day and which has since been delisted by AMEX?
c. And finally what happened to the www.greenstenergy.com website? It has been down now for about a month and a link says that the url is parked at Go Daddy.
6. Directors
a. Bruce 3% Nelson left on 4-1-2009. Did he get his 3% after resigning? If so where are SEC form 4 and/or 5 filings? Why did he get 3% and other lackeys only get 2%?
b. Jeff 2% Figlewicz resigned 4-10-2009 and got his 600,000 nickel options on his way out the door. He also filed form 4 and 5 notating that fact.
c. Tony 10% Cataldo, Michael 2% Pruitt, and Sade 2% Panahi, did they get their free % by 4-10-2009. If so where are SEC filings?
d. Why did Bruce Nelson and Jeff Figlewicz resign as directors?
e. Does GSTY carry Directors and Officers and General Liability insurance policies?
7. Funding
What are possible sources of funding being explored and update on each?
1. Normal Banks?
2. GE Capital?
3. Mercator?
3. Marr Group?
5. SF Capital?
6. OFFshore PIPE lenders with discounted convertible debt with a ratchet down lock in feature (you know Tony, like at your last company VOIC)?
Thats about it. Transparency is the issue.
What will next filing be?
Form 4/5 from Tony, Mike, Sade, amd possibly Bruce outlining what they got under their 10% and 2-3 % deals?
10Q on time?
10Q NT delay of 10Q?
8K announcing a material event? (Hopefully not another person resigning)
Nothing (Shades of Tony's last company VOIC)
We shall see.
Dadonland?
Have to wonder if all the Cataldo supporters share a last name = Dadon
BTW somebody tell Barry to get the website back up.
Registrant:
Barry Dadon
23760 oakfield rd
HIDDEN HILLS, California 92115
United States
Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)
Domain Name: GREENSTENERGY.COM
Created on: 06-Jan-09
Expires on: 06-Jan-10
Last Updated on: 06-Jan-09
Administrative Contact:
Dadon, Barry barrydadon@gmail.com
23760 oakfield rd
HIDDEN HILLS, California 92115
United States
8182646214 Fax -- 8188843443
Technical Contact:
Dadon, Barry barrydadon@gmail.com
23760 oakfield rd
HIDDEN HILLS, California 92115
United States
8182646214 Fax -- 8188843443
Domain servers in listed order:
NS27.DOMAINCONTROL.COM
NS28.DOMAINCONTROL.COM
GSTY best case scenario.
Tony Cataldo finds a financier who believes in his vision . Financier (GE Capital or other) loans GSTY $ 50,000,000 to complete purchase of acreage from David Dadon for $ 16,000,000 (rather own the acreage for 16 million than owe 16 million just for the "option") with about $ 34,000,000 to set up infrastructure, to build the wind farm.
GSTY worst case scenario
We find that in paying himself(funny how that contract has never been made public), CEOcast, Figlewicz, and Dameron and giving Dadon $ 260,000 of cash that Tony has basically milked all the cash out of GSTY. This causes an exit of directors and employees now that there is no cash left. Tony Cataldo and David Dadon head to Cannes France where they are releasing 13 jointly produced films now that they have the financial capacity to do so. Tony pulls a VOIC move and doesn't file the 10Q SEC filing on May 15,2009.
With no money to pay even the $ 800,000 annual interest on the $ 16,000,000 owed to Dadon, he forcloses and gets all his land back.
The future will probably play out somewhere between these two extremes.
Be on the look out for a convertible discounted PIPE financing with no floor possibly from an offshore lender. (All the better to short against the discounted convertible box by the PIPE lender.)
Second thought. Another best case scenario would be for another wind farm desperately wished to buy the 5,000, acres that GSTY controls and was willing to pay $ 25,000,000 plus to buy it. But don't get too hopeful about this. if anyone with real cash to do so, had wanted to, Dadon would have sold to them long ago.
Lets see what we hear by 5-15-2009. A 10Q filing on time with a conference call to discuss would be a good sign. A late or non existent filing with no conference call would be a bad sign.
come on Mike Pruitt lets get that GE Capital loan in here, son.
The fair weather friends, Bruce Nelson and Jeff Figlewicz have jumped ship. But Figlewicz at least didn't forget to get his 2% freebies when he left.
Time for the core group, Cataldo, Dameron, Pruitt, and Panahi to pull together and show the shareholders here just what grit and determination can accomplish.
and lets not forget that Tony still has a $ 10,000 a month nouthpiece to do his PR work in CEOcast.com (headed up by ex-con Michael Wachs) so lets add them to the "core" group.
and its possible that Tony still has ties to David Firestone at Mercator Funds, Marat Safin at Marr Group, and Owen Nacarrato
(attorney with creative finance experience) to help in his time of need.
"When the going gets tough, the tough get going"
Guess we will find out shortly what type of "get going" we see.
Worth less than the stock of a Tony Cataldo "discard"
New term for the most worthless.
Tony, Sade, Michael, and Bruce . Its 4-30-2009 the last day of April. Isn't it about time you guys filed those form 4s and/or form 5s outlining what you got percentage and amount wise of the 30,000,000 increase in "fully diluted shares" caused by the purchase and option of "Dadonland" in first quarter.
BTW did you guys also get your percentages of the 250,000 shares that were given to CEOcast?
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Green St. Energy (OTCBB: MWAV), a company developing a portfolio of renewable wind energy assets, announced the results of an appraisal conducted by a leading global energy assessment firm, 3TIER, that have significant implications for the value of the company's newly acquired acreage in Tehachapi, California, a desert area known for its prolific production of wind energy. The independent report estimated the average wind speed at the Green St. Energy location to be 7.8 meters per second, or 17.5 mph. This means that the firm is 68% confident that the true wind speed at the location is between 14.5 and 20.4 mph. The report also estimated that the power capacity factor at the location, a common assessment tool for wind farm viability, is 40%, which is considered excellent by industry standards. Existing wind farms have been financed and successfully operated with capacity factors in the 28% to 30% range, suggesting that Green St. has acquired a property with significant potential for wind power generation. The report could help in attracting developmental partners and financing. The highly desirable characteristics of the acquired land, taken in conjunction with the high number of preexisting wind farms and infrastructure in the area could greatly enhance Green St.'s ability to generate significant revenues from the project. Shares closed up 29 cents on the week, finishing at $0.51.
Green St. Energy Completes Acquisition of Highly Desirable Property in Tehachapi, California to be Used as Wind FarmAccording a report issued by 3TIER, a leading global energy assessment firm, the estimated power capacity factor at the location, a common assessment tool for wind farm viability, is 40%. This rating is considered Excellent by industry standards. Many existing US wind farms have been financed and are being operated successfully at 28% to 30% capacity factors; thus, the Green St. Energy Tehachapi site rating by 3TIER indicates a wind power capacity that is approximately 33% greater than average standards for finance-able wind farms in the US market. The 40% power capacity rating is an annual average power capacity based on a turbine-type that is typical for the property.
"We are excited to acquire the first property in such a highly desirable area for wind to energy projects," said Tony Cataldo, M-Wave's Chairman and CEO. "We plan on moving aggressively to obtain the necessary permits to allow energy production on the farm. Due to the favorable legislative environment, existing infrastructure including transmission lines and strong interest from construction and development partners, we are optimistic that we will be able to begin energy production quickly relative to properties located in other areas of the country. We are also actively focused on completing the acquisition of the balance of the acreage from this owner."
About Green St. Energy
Green St. Energy has assembled a strong management team and advisory group with high level wind industry relationships with companies such as GE Wind, Vestas International, and the American Wind Energy Association. The company is poised to bring numerous high value assets into their renewable energy project portfolio over the coming 8 to 12 months. The firm can be contacted at: 123 Green Street, Suite 1000, Tehachapi, California 93561. CEO Anthony Cataldo can be contacted at: (310) 556-9688.
Additional details on the transaction may be found in the Company's 8-K filing. Actual results and the timing of certain events discussed herein could differ materially from those projected in or contemplated by forward-looking statements due to a number of factors, including but not limited to, the risk factors and other disclosures contained in M-Wave, Inc.'s annual reports on Form 10-KSB for the period ended December 31, 2007, and the other disclosures contained in documents filed by the Company with the Securities and Exchange Commission.
SOURCE: Green St. Energy
CONTACT:
CEOcast, Inc. for Green St. Energy Dan Schustack, 212-732-4300
Copyright Business Wire 2009
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KEYWORD: United States North America California INDUSTRY KEYWORD: Energy Alternative Energy Other Energy SUBJECT CODE: Contract/Agreement Merger/Acquisition
The FirstLook Report also estimated that the power capacity factor at the location, a common assessment tool for wind farm viability, is 40%.
This rating is considered Excellent by industry standards. Many existing US wind farms have been financed and are being operated successfully at 28% to 30% capacity factors; thus, the Green St. Energy Tehachapi site rating by 3TIER indicates a wind power capacity that is approximately 33% greater than average standards for finance-able wind farms in the US market. The 40% power capacity rating is an annual average power capacity based on a turbine-type that is typical for the property.
"We are excited that a leading energy consulting firm has determined that the wind speeds at the land are so strong," said Tony Cataldo, Green St. Energy's Chairman and CEO. "This has important implications for our ability to attract developmental partners and financing for the project. We believe there is significant upside potential for the Property and are confident that the infrastructure in place in Tehachapi, the long history of wind project success in the Tehachapi region and highly attractive characteristics of this land enhances our ability to generate significant revenue from this Project."
The Company also announced today that it has changed its name from MWave, Inc. to Green St. Energy to better reflect its current business and operations.
About Green St. Energy
Green St. Energy has assembled a strong management team and advisory group with high level wind industry relationships with companies such as GE Wind, Vestas International, and the American Wind Energy Association. The company is poised to bring numerous high value assets into their renewable energy project portfolio over the coming 8 to 12 months. The firm can be contacted at: 123 Green Street, Suite 1000, Tehachapi, California 93561. CEO Anthony Cataldo can be contacted at: (310) 556-9688.
About 3 TIER
3TIER is an energy assessment and efficiency company: the Firm provides the core data and knowledge for clients to make the best decisions regarding their investment in a renewable energy generation technology. The Firm uses sophisticated computer modeling systems, in-house expertise and reliable delivery mechanisms to forecast both the short-term intermittency and the long-term availability of renewable energy. The Firm provide utility-scale, scientifically based assessment and forecast products and services to our clients. Founded in 1999, 3TIER is a privately-held, equal opportunity employer based in Seattle, WA with offices around the world.
Additional details on the transaction may be found in the Company's 8-K filing. Actual results and the timing of certain events discussed herein could differ materially from those projected in or contemplated by forward-looking statements due to a number of factors, including but not limited to, the risk factors and other disclosures contained in M-Wave, Inc.'s annual reports on Form 10-KSB for the period ended December 31, 2007, and the other disclosures contained in documents filed by the Company with the Securities and Exchange Commission.
SOURCE: Green St. Energy
CONTACT:
CEOcast, Inc. for M-Wave Dan Schustack, 212-732-4300
Copyright Business Wire 2009
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KEYWORD: United States North America California INDUSTRY KEYWORD: Energy Alternative Energy Other Energy SUBJECT CODE: Product/Service
The corrected release reads:
M-WAVE ENTERS RENEWABLE ENERGY BUSINESS THROUGH DEFINITIVE AGREEMENT TO ACQUIRE OF LAND IN PROLIFIC AREA FOR WIND TO ENERGY PRODUCTION
Company to Change Name to Green St. Energy
M-Wave, Inc. (OTC BB:MWAV) or the "Company" announced today that it has entered the renewable energy sector by entering into a definitive agreement to acquire 160 acres of land to be used as a wind farm in Tehachapi, California, Tehachapi, located between Bakersfield, California and the Mohavi Desert is recognized as a prolific area for the production of energy from wind. The Company is also in negotiations with the same land owner to acquire an additional 4,840 acres. Some of the companies with operations in the area include GE Wind, Mitsubishi, Florida Power & Light, Horizon Wind Energy and Vestus. The Company plans to change its name to Green St. Energy to reflect its new operations.
Under the agreement, M-Wave will acquire the land through the issuance of 1 million shares of restricted stock. The land is located at the highest point of the ridge line in the area, which results in a higher level of wind.
"We are excited to acquire a highly desirable area of land in the wind capital of California," said Tony Cataldo, M-Wave's Chairman and CEO. "Tehachapi is the ideal location to develop wind farms, due to the proximity of transmission lines, highly desirable topography and friendly regulatory environment. We believe this land acquisition represents the initial phase of building a world-class renewable energy company."
Additional details on the transaction may be found in the Company's 8-K filing. Actual results and the timing of certain events discussed herein could differ materially from those projected in or contemplated by forward-looking statements due to a number of factors, including but not limited to, the risk factors and other disclosures contained in M-Wave, Inc.'s annual reports on Form 10-KSB for the period ended December 31, 2007, and the other disclosures contained in documents filed by the Company with the Securities and Exchange Commission.
SOURCE: M-Wave, Inc.
CONTACT:
CEOcast, Inc. for M-Wave Dan Schustack, 212-732-4300
Copyright Business Wire 2009
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KEYWORD: United States North America California Illinois INDUSTRY KEYWORD: Energy Alternative Energy Environment SUBJECT CODE: Contract/Agreement
Under the agreement, M-Wave will acquire the land for approximately $16 million, through the issuance of 1 million shares of restricted stock and a Note, convertible into a maximum of $16 million worth of restricted common stock, subject to limitations on conversion amounts and a floor of $0.53 per share. The land is located at the highest point of the ridge line in the area, which results in a higher level of wind.
"We are excited to acquire a highly desirable area of land in the wind capital of California," said Tony Cataldo, M-Wave's Chairman and CEO. "Tehachapi is the ideal location to develop wind farms, due to the proximity of transmission lines, highly desirable topography and friendly regulatory environment. We believe this land acquisition represents the initial phase of building a world-class renewable energy company."
Additional details on the transaction may be found in the Company's 8-K filing. Actual results and the timing of certain events discussed herein could differ materially from those projected in or contemplated by forward-looking statements due to a number of factors, including but not limited to, the risk factors and other disclosures contained in M-Wave, Inc.'s annual reports on Form 10-KSB for the period ended December 31, 2007, and the other disclosures contained in documents filed by the Company with the Securities and Exchange Commission.
SOURCE: M-Wave, Inc.
CONTACT:
CEOcast, Inc. for M-Wave Dan Schustack, 212-732-4300
Copyright Business Wire 2009
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KEYWORD: United States North America California Illinois INDUSTRY KEYWORD: Energy Alternative Energy Environment SUBJECT CODE: Contract/Agreement
M-Wave, Inc. Announces Asset Purchase Agreement
ITASCA, IL, Sep 11, 2008 (MARKET WIRE via COMTEX) -- M-Wave, Inc. (OTCBB: MWAV), a provider of international procurement services, and a virtual manufacturer of customer-specified electronic components, sub-assemblies, and consumer products, announced today that it has entered into an Asset Purchase Agreement (APA) with certain members of its management team which provides that the Company will sell substantially all of the operating assets and the Purchaser will assume certain liabilities of the Company.
On September 10, 2008, the Company announced that Anthony J. Cataldo had accepted appointment as a Class I Director, to hold office until the next stockholders meeting. Mr. Cataldo has joined the Board to evaluate and formulate the future of the Company after the anticipated consummation of the APA.
ASSET PURCHASE AGREEMENT
Joseph Turek, Chairman and CEO, and Robert Duke, divisional president of M-Wave, have formed M-Wave International LLC, an Illinois limited liability corporation (MWI) for the expressed purpose of acquiring the operating assets of M-Wave, Inc. for $500,000 plus assumption of all operating liabilities including but not limited to accounts payable, vendor contracts and employee obligations. Additionally, MWI will extend a $500,000 operating term loan with an effective interest rate of 12% due December 31, 2008. Upon the closing of the transaction, the Company's obligations under the loan shall be extinguished. The closing is conditioned, among other things, upon obtaining shareholder approval of the transaction.
The board of directors accepted input from an engaged third-party investment banker that deemed the transaction to be fair from a financial point of view to the Company. The Company had, as a publicly reporting entity, been losing approximately $30,000 per month throughout the calendar year 2008. As such, the Board of M-Wave believed it could not continue to operate without an infusion of capital. The availability of capital has been generally constrained in the presence of continuing losses.
The Company states there can be no assurances that the APA with M-Wave International, LLC will be approved by stockholders and become effective.
ABOUT M-WAVE, INC.
M-Wave provides supply chain services and sources printed circuit boards, custom electronic components, extrusions, assemblies, and non-electronic products from Southeast Asia. The parts and components sourced are utilized in a wide range of commercial and industrial electronics, contract manufacturing and other consumer products. M-Wave additionally offers domestic and international supply chain services for its second and third-tier customers.
Actual results and the timing of certain events discussed herein could differ materially from those projected in or contemplated by forward-looking statements due to a number of factors, including but not limited to, the risk factors and other disclosures contained in M-Wave, Inc.'s annual reports on Form 10-KSB for the period ended December 31, 2007, its report on Form 10-Q for the period ended June 30, 2008, and the other disclosures contained in documents filed by the Company with the Securities and Exchange Commission.
M-Wave's website is located at www.mwav.com.
Contact:
Jeff Figlewicz
Acting Chief Financial Officer
(630) 562-5550 ext 4720
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