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GSTY up 181% today.
Someone spent $ 200 to buy 1000 shares of GSTY at the ask ($ .20)
Was this a stupid retail buyer, or an insider trying to raise the (ongoing) stock price?
Alrighty GSYY begins to "trade". 125 shares at $ .071 .You know they say the first $ 10 is the hardest.
Losers, Inc?
Challenge for The GSTY stockholders.
Here are the Players in the GSTY saga.
1. Tony Cataldo... CEO and Interim Financial Officer
2. Gerry Dameron ... Vice President
3. Bruce Nelson ... Director
4. Michael Pruitt... Director
5. Sade Panahi...Director
6. David Dadon... Majority Stockholder and note holder on "option" on California property.
You challenge is to find any public company that any of the above are presently associated with that has ever turned an annual profit while any of the above were on board.
If thats too hard.. Please find any public company that any of them were ever associated with in an officer or director position that ever turned an annual profit while any of the above were on board.
I eagerly await your answers.
No shares sold since 10Q came out. Thats sure no surprise.
Will GSTY be Tony's fastest ever failure?
Only time will tell.
Then again maybe Tony's $ 300,000,000 funding source bragged about in the company website (when it was up) will come through for Tony in third quarter.
Or maybe one of the movies released in Cannes produced by Dadon and Cataldo will "catch fire".
Or Patriot Wind will actually get a customer.
Or maybe they can get some PIPE money from David Firestone and Mercator and use the Calofornia acreage to grow Jatropha.(See Bruce Nelson history at GCEH)
Actually Runncoach . I think Tony's "Next Big Thing" might be as a Seminar and TV Pitchman to learn:
How to be the Chairman and/or CEO of microcap public companies.
What "Safe Harbor" means and how far you can go in using it.
PIPE financing and how it works.
CEOcast.com and how to use it.
Floorless discounted convertible debt and how to use it for your and other insider's benefit.
The Tony Cataldo "fully diluted" deal on convertible debt. How to get it and what it means.
The "Ratchet Down" feature for truly innovative convertible debt products. How it works and how to integrate the "fully diluted" clause into it.
Options on property. New and creative ways to option property from your friends.
1. Take the full cost of the option as an asset even if proerty in never purchased.
2. Finance the option and make it convertible.
3. Put in a "fully diluted" clause for yourself and your minions.
Replacing accountants -- A primer
Where to find directors who will do your bidding.
Introductions to lawyers who have worked with Cataldo in the past. Nacaratto, Baum, Panther, Baratta, and the Ball Law Firm
Can't you see the potential here. Probable will be a staple at all future get rich quick seminars and late night TV infomercials.
There will be a large demand from prisoners across the USA for this info.
Tony Cataldo's "Learn To 'Talk The Talk' and 'Walk The Walk' in the Penny Stock World". Just $4,995 for the course and includes 2 hours of Tony "One on One" counseling.
(TIC)
bloodhound
Possible future revenue stream? Maybe make some camping sites on the 160 acres and collect a few bucks a night lol. I can't even say it with a straight face.
Silver Linings?
Ok I'll admit that things don't look good.
1. The company website, apparently owned by Barry Dadon, is down again.
2. CEOcast.com, the company's $ 10,000 a month IR firm, has not mentioned anything about GSTY since March 2009 when it was still MWAV.
3. Tony Still hasn't found anyone to take Jeffrey Figlewicz's job as CFO.
4. Second quarter results acually worse than first quarter's in spite of reduced staff and reduced communication. Tony borrowed and spent $ 300,000 and ended up with ZERO money in bank and a $ 159 overdraft charge.(Tony even had to lend company $ 20,000 to make it through June) Also, besides that $ 300,000 debt(secured apparently by the 160 acres that GSTY actually owned) Tony actually increased expenditures by another $ 350,000 for accumulated expenses.
5. No word on the 1.1 million dollar funding that Tony said he was working on in June.
But look on the bright side.
1. After the usual 10Q-NT Tony did in fact file a 10Q, as pathetic as it may have been. This is better than Tony did at VOIC, his last CEO job, where he filed a 10K-NT on April 1, 2008 and fled the scene never to show up there again.(maybe he saw it as an April Fool's joke)
2. The company is still alive (it is, isn't it?). Means someone is paying the bills or willing to accept IOUs from Tony into the third quarter.
3. Tony actually loaned the company $ 20,000 of his own money to make sure the bills were paid. (Of course it may have been that or accept GSTY stock as payment for his salary, but still.)
4. Accounts payable actually went down about $ 10,000.
Have to see how Tony keeps "Staying Alive" as we head down the road.
The sorta good news is that except for a very few extremely gullible day traders I believe that most of the company stock is owned by David Dadon, Tony Cataldo, and the directors (current and ex) and not many retail investors will get hurt if this company meets the fate of Tony's previous CEO headed companies.
(See MEMI and VOIC)
But runncoach, don't forget to agree to pay as much for the option as the land os worth, have it financed, and make the debt convertible so your "fully diluted" friends can cash in. BTW can I be one of the "fully diluted" friends?
All bets are off, however, if Tony C. is in any way connected.
Bloodhound.
Bloodhound
Tell the truth man. You know its you that's providing the shareholder loans lol. Does look GSTY has gotten off to a slow start. I've been thinking about getting a huge option on some land myself and counting it as assets just to get my credit score up a bit too lol.
This 10Q smells like roadkill skunk.
Unbelievable the two employees Tony and Gerry went through MORE cash in second quarter than the 3 employees did in the first quarter.(Not counting the $ 250,000 paid to Dadon for the "option")
Ended second quarter with no money in the bank and a $ 159 overdraft charge it appears. Tony had to lend the company $ 20,000 to make it through the second quarter.
With no word on Tony's 1.1 million dollar funding mentioned in June, one has to wonder who's been paying the bills in July and August. Could this be the reason that website is down again?
The funniest thing is that valuing the "option" at 16 million plus allows Tony to say there is over 2 million in stockholder's equity. Got to believe that this "sleight of hand" should be illegal whether it is or not.
Really hard to believe anyone could be as slick as Tony, isn't it?
Still no answer on who the "individual" who loaned $ 300,000 against GSTY's land is? Wonder why. Anyone believe that it is anyone other than David Dadon? or possible Tony?, or both?.
Still no hint as to what Tony and Gerry are making in salaries or any reference to what stock or nickel options that Tony and the directors have received.
Its Tony Time
Just filed bloodhound
I'll let you do the honors lol.
Looks like if Tony releases the 10Q today as promised it will be after the stock market close. Very common for Tony to do.
I do believe that the "delayed" 10Q from Tony Cataldo is due tomorrow 8-19-2009. Guess we will then learn something about the quagmire that is a Cataldo headed company.
With a $ 300,000 cash infusion in May and only 2 employees surely Tony will have most of his $ 300,000 left in bank on 6-30-2009.
Not a lot spent on PRs or website hosting in second quarter.
Maybe Tony got a "break" on CEOcast.com's $ 10,000 a month fee since they did absolutely nothing in second quarter for GSTY.
and if the $ 1.1 million funding Tony referred to in June was "accomplished" GSTY could be flush with enough cash to last well into 2010.
Will Tony finally make good on his "projections"?
or will he still be Tony "King of the Unfulfilled Safe Harbor Statements" Cataldo?
My guess is:
1. Less than $ 100,000 cash left in bank on 6-30-2009.
2. Liabilities up from $ 684,000 on March 31 2009.
3. The 1.1 million dollar loan STILL not done.
4. David Dadon provided the May 2009 $ 300,000 loan and 160 acres actually owned by GSTY put up as collateral
5. We STILL will not know what salaries Tony Cataldo or Gerry Dameron are making.
6. And of course not the first nickel of income and no idea when or even how it will show up.
I guess we will know in 24 hours, or Not.
watching the wheels come off yet another company headed by Tony Cataldo.
Guess 7th time wasn't the charm, after all.
Maybe Tony and the Dadons can go to work for Tony's son Cory in the movie business.
http://www.corycataldo.com
The acorn doesn't fall far from the tree.
Green Street Energy News....
Green Street Energy website (www.greenstenergy.com) is down ...... AGAIN.
Tony Cataldo files another NT 10Q for Green Street....AGAIN... Last one was a month late. Lets hope this doesn't happen again.
Tony still has not replaced Financial Officer Jeffrey Figlewicz. (Would you take a job as Tony's CFO?)
Maybe Tony will hire a Dadon to fill this position.
So far first 2 10Qs have had an NT 10Q filed.
First quarter NT 10Q lists Tony Cataldo President and CEO at 1-630-401-9217 as "contact person".
Second quarter NT 10Q lists Tony Cataldo CEO and Interim Financial Officer at 1-310-749-8699 as "contact person"
Wonder what title(s) and phone number Tony will have on next NT 10Q?
BTW company phone number is 1-310-556-9688.
Wonder where the SEC filings are for Tony (10%) and the directors(2-3%) "fully diluted" shares are?
Anyone know what salary Tony Cataldo or Gerry Dameron is making? Don't believe they ever deemned it necessary to tell this to the stockholders in any of their filings.
Yeah big surprise lol. EOM
Least surprising filing of the day
Form 10-Q for the year ended June 30, 2009 could not be filed within the prescribed time period because the Registrant was unable, without unreasonable effort or expense, to finalize its financial data within the prescribed period
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Tony Cataldo 310 749-8699
------------ --- --------
(Name) (Area Code) (Telephone Number)
--------------------------------------------------------------
Someone tell Tony it was the quarter ending June 30th 2009 and not year ending June 30th.
Maybe Tony was so busy getting that 1.1 million loan to keep the doors open to attend to normal SEC filing deadlines.
Some people.
Hey the company website is down. Nothing from Tony Cataldo in last 2 months. $ 3 in bank at end of first quarter. Yahoo has removed GSTY's message board.
And someone spent $ 450 to buy 3000 shares at the ask today.
As long as there are people like that in the world the Tony Cataldos will have a job.
HMM wonder if we will get second quarter 10Q on Friday or Monday.
Options
1. 10Q filed Friday 8-14-2009
2. 10Q filed Monday 8-17-2009
3. 10QNT filed on Friday or Monday
4. No filing of any type made Friday or Monday and GSTY gets an E tagged onto symbol for second time this year.
Well it appears the company website is down AGAIN!!
So is YAHOO message board.
Wonder what THEY KNOW?
Someone should call the "Silver Tongue Devil"
anyone heard from "Silver Tongue" Tony lately?
Wow someone spent $ 3000 to buy 37,000 shares today at $.08. Would like to get that name on my "mailing list".
37,000 shares is more than all the shares sold in the last month.
Maybe its Gerry Dameron buying stock at the market since he appeared to be the only insider not getting the "fully diluted" nickel shares deal.
The "Cataldo Touch"
Companies where the "Cataldo Touch" has been felt.
Symbol Last
GSTY 0.075
VOIC ERROR: Can't find symbol You can search for it, or remove it from your WatchList.VOIC was 0.0001 before being removed by SEC. This was Tony's last CEO job.
MCET 0.0095
BPTR 0.07 (Answer to Trivia Question)
CBMC 0.007
MEMI 0.0001
FMYR 0.003 (director only)
1:54:56 PM EDT - Thursday, August 6, 2009
The Cataldo Touch = the opposite of being touched by an angel.
With such an impressive resume no wonder he was "selected" to run the MWAV shell cast off.
"Hey if we put Tony in charge they will forget all about us."
(TIC)
bloodhound
Wonder what happened to the multiple posters created within 5 minutes of each other for their very 1st yahoo post ever lol? And it happened twice.
an interesting fact: The yahoo message board for GSTY no longer exists.
You reckon they saw the "writing on the wall"?
Trivia question :
Of The 6 companies (2000- present) prior to GSTY that Tony Cataldo was/is associated with as CEO, Chairman, Co-chairman or Director name the one whose stock is selling at more than a penny.
Hint: the stock fot this company is presently at $ .07 and is the ONLY company that did not have a reverse stock split while Tony was "on board".
Even though Tony Cataldo and Gerry Dameron appear to be the only employees of GSTY, do not be alarmed. They each do the work pf three men. With Tony it is Larry, Curly, and Moe and with Gerry it is Larry, Darrell, and Darrell.
Beware of the website boys from Thailand. They may have a tail on Tony. (TIC)
"Mr. Slickster"?
From the 10Q
NOTE 8: SUBSEQUENT EVENTS
On May 1, 2009, the Company completed a $300,000 loan with interest at 10%. The loan is collateralized by a portion of the Company's land and is due on May 1, 2010.
The Company is in the document preparation stage for an additional loan of $1,100,000 which will also be collateralized by its real estate.
------------------------------------
Since the only land that GSTY actually owns is the 160 acres that they bought for $ 250,000 of stock, if Tony can actually borrow $ 300,000 AND $ 1,100,000 ($ 1,400,000 total) against those 160 acres heck even I will give him a vote as "slickster" of the year.
I don't believe anyone would loan $ 1,100,000 against an unfulfilled 12 million dollar plus "option" on the remaining acres. If Tony can pull that off however I would vote him "slickster" of the year for that move as well.
With Cataldo at the helm the ride is always interesting.
If Tony doesn't get some influx of cash shortly the fat lady with the horned helmet will be serenading us before the end of the year.
IMHO
Bloodhound
another silent week from Tomy "Stonewall" Cataldo.
GSTY the "Ve vill let you know vhat ve vant you to know, vhen vw vant you to know it." company.
GSTY should be almost out of the $300,000 they got in May. Wonder who they will get to "pony up" next to pay Tony, Gerry, Ceocast, and the directors?
Maybe Tony will get some of the $ 300,000,000 of available funding that he brags about on the company website.
Can you say PIPES with floating discounted conversion price with no floor?
Thats my guess.
How to own GSTY stock worth $ 30,000 in July
Buy it in May and June for $ 50,000
Hey, Its a Cataldo stock. A drop of only 40% in value in 2 months is generally considered a good thing in Cataldo stocks.
How many nickel shares and options do the "insiders" have. I believe its over 5 million shares isn't it?
Gotta love those "FULLY DILUTED" deals.
Wanna Buy some GSTY $ .20 - $ .30
Wanna Sell some GSTY $ .09
News on Tony Cataldo's last company. Tony was CEO there as well.
VOIC VoIP, Inc. Common Stock 7/16/2009 100 12(j) Registration Revoked by SEC **
Lets hope Tony doesn't repeat this at GSTY.
Crazy article bloodhound
Thanks for the link.
I have spotlighted 7 time loser Tony Cataldo CEO of GSTY, majority owner David Dadon (Tony's longtime movie co-producer), and ex-con Michael Wachs of CEOcast (Tony's firm for "hype" at his companies).
I didn't want the due diligence to be incomplete. Please see the enclosed article outlining the business successes of Gerry Dameron the last "member of the team".
http://www.windaction.org/news/15239
Who will Tony bring on board next?
This group looks so bad that it is doubtful that even Cataldo pal David Firestone of the Mercator group will have trouble attaching himself.
Oh Tony boy the PIPES, the PIPES are calling.
Tony to brokers: Find more Ivstos
Know your majority stockholder
David Dadon now owns over 70% of the outstandinbg stock of GSTY and GSTY still owes him over 12 million dollars whether they buy his California land or not.
My guess is that the last $ 300,000 loan made to GSTY in May was from Dadon and collateralized by the 160 acres that he sold for 1,000,000 shares of stock. Guess we will find out in about a month.
I hope you stockholders feel good about supporting Cataldo. Dadon, and Michael Wachs with your stock purchases.
Here is an article on your majority owner.
http://www.browardpalmbeach.com/2008-01-10/news/wall-street-in-miami/
OOPS here is the entire Barron's story 0n Michael Wachs and CEOcast. Wouldn't want to be giving out just half the facts. There is enough of that already.
A Dubious Inheritance
By BILL ALPERT
A recent lawsuit suggests that convicted financial felon Michael Wachs has been running CEOcast all along -- and duping the public about it.
AS THE INTERNET EATS THE LUNCH of the print media, I fret for investors who might someday find themselves with only online sources to inform them. I have an obvious self-interest in print journalism, but so do investors. With rare exception, television, Websites and blogs still don't do the deep reporting needed to prove a stock under- or overvalued. And the Internet is still populated by bogus news sites like CEOcast.
Before YouTube was a twinkle in its founders' eyes, the CEOcast Website (www.ceocast.com) was hosting video investment clips and e-mailing newsletters about small-cap stocks. Like a boiler room broker, CEOcast's newsletters start out talking about the market and large-cap stocks like Disney or Cisco Systems, then switch suddenly to penny stocks. You've got to read the newsletter's fine print -- or filings at the Securities and Exchange Commission -- to learn that CEOcast is shilling penny stocks in exchange for hundreds of thousands of dollars in cash and shares. But those disclosures still don't tell you what you need to know about an ersatz news site like CEOcast.
Three years back, I reported evidence that CEOcast was run by a big-time financial felon named Michael S. Wachs ("On the Internet, a Second Act," July 28, 2003). In 1997, Wachs had pleaded guilty to diverting $20.8 million in assets as an executive at Chase Manhattan Bank. He made restitution, served 11 months in federal prison in Allenwood, Pa., and agreed to be barred from the banking and brokerage industries. As I reported, CEOcast and Wachs told me that Wachs didn't own or control the firm. Instead, ownership and control rested with a fellow named Kenneth Sgro.
Well, this past April, Sgro died. In a lawsuit recently filed in a New York state court, Sgro's widow, Olga N. Starisky, presents documents suggesting that CEOcast was and is controlled by the felonious Wachs -- contrary to CEOcast's documentation filed with the SEC and the IRS.
Indeed, her pleadings in the suit include documents from Michael Wachs himself, indicating that he has enjoyed millions of dollars in annual income as a stock promoter, even as his 1997 agreement barred him from working on Wall Street. If the allegations prove out, then investors may want to do their own due diligence on longtime CEOcast clients like the drug-addiction treatment company Hythiam (ticker: HYTM) and Internet telephony firm Voip. (VOII). Neither Wachs nor his lawyers responded to inquiries I made over several days.
In an affidavit filed with her suit, Starisky says that Wachs has been the "de facto majority owner" of CEOcast and "has dominated all aspects of the company's management since its incorporation." Wachs' criminal history made him try to disguise his role, Starisky states. After the Barron's exposé, the company's federal tax returns increased Ken Sgro's CEOcast ownership from 30% to 99%, with the remainder purportedly held by Wachs' wife, Rachel Glicksman. But the bulk of compensation went to Wachs' wife -- who, the widow attests, was a no-show employee fronting for Wachs.
The little stock promotion firm was a great moneymaker. CEOcast tax returns show revenue growing from $3 million in 2002 to $5 million in 2004. So the majority ownership attributed to Ken Sgro would seem to be worth quite a bit. But after receiving letters from Starisky's lawyers, Wachs said he would buy out Sgro's interest in CEOcast for one dollar. In September, Starisky filed suit for an accounting, appraisal and buyout of her late husband's interest in the company.
As of last week, Wachs hadn't filed a response to Starisky's allegation that he is trying to "steal" CEOcast. But in an Aug. 18 letter to her lawyer, Wachs made some interesting statements. Wachs said that CEOcast had paid him and his wife $2.1 million in 2003, $3.4 million in 2004 and $3 million in 2005 -- while Ken Sgro's take declined over the same period from $205,000 to $131,000. The business had paid virtually no dividends. Ken Sgro's ownership was upped from 30% to 99% "at the company accountant's suggestion for tax purposes," with no money paid for the ownership change.
Attached to Wachs' letter -- according to the widow's pleadings -- were two CEOcast documents that seemed to support Wachs' claims. A memo dated January 2002 assigned 87% of CEOcast's profits to Wachs and his wife. All voting and management control resided with the couple. A second document, dated December 2004, said that if Sgro died, Wachs could buy out Sgro's survivors for $1, without giving them any bank deposits or shares held by CEOcast because Sgro "contributed an insignificant amount of revenue and played a nominal role in the development of the company."
In his own affidavit, the widow's lawyer, Kenneth L. Moskowitz, said that the December document was neither valid nor genuine. It had an unnotarized signature of Ken Sgro that was a forgery -- according to a handwriting expert retained by Moskowitz.
Regardless of whether the court leaves CEOcast in the hands of Michael Wachs, it's clear that investors shouldn't rely on information from him or his company. If the court filings of his partner's widow are to be believed, Wachs is a liar and a fraud.
And if Wachs' own claims in the current dispute are to be believed, then CEOcast lied to the public (and to me) in denying that it's been the instrument of a financial felon.
E-mail: william.alpert@barrons.com
-------------------------------------------------------
Michael Wachs has proved to be "Tony's Boy" at company after company.
OH bummer It looks like Tony tied GSTY up to CEOcast for a whole year at the $ 10,000 a month.
M-Wave, Inc. ten thousand dollars per month and two hundred fifty thousand shares of stock for a one year agreement
Last time that Green Street was mentioned by CEOcast was 3-16-2009 newsletter when symbol was still MWAV. Talk about an easy 10 grand a month for CEOcast.com and its illustrious leader Michael Wachs.
http://online.barrons.com/article/SB116320479018920387.html
Its no surprise that Tony has "used" Ceocast at most if not all the companies he has headed is it?
anyone heard from Tony lately. He probably will be needing that 1.1 million cash infusion pretty soon.
Yeah I know that staff was reduced by 33.33% in second quarter, the accountants were downsized, and money was saved by fewer press releases and putting the website "on hiatus" for most of the quarter.
Still, the majority of the $ 300,000 received in May is probably gone and it appears unlikely that it will last through the third quarter.
I have decided to revise my offer to take CEOcast.com's.role of "covering" GSTY to better enable GSTY to meet its expenses. While CEOcast has been charging $ 10,000 a month to "cover" GSTY, I will provide the same amount of monthly "coverage" that CEOcast provided during seoond quarter to GSTY for a measly $ 2,500 a month if Tony will kick in 500,000 nickel options.
Please advise Tony of this $ 7,500 a month cost saving feature he can incorporate with his other cost saving features implemented in the second quarter.
no sales today. apparently Ivesto is "tapped out".
6-30-2009 Last day of second quarter. and what do we know
1. $ 3 in bank at end of first quarter
2. Accountants and 2 directors quit. Accountants replaced but no takers for the directors positions yet.
3. CEOcast the $ 10,000 a month PR mouthpiece for Tony has not mentioned Green Street in the second quarter.
4. GSTY got a $ 300,000 loan against property in May and company was doing paperwork to try to get another 1.1 million.
5. No income in the foreseeable future, only expenses.
6. David Dadon now owns 70%+ of outstanding stock of GSTY and is still owed 12 million plus on the "option" to buy his land.
7. David's son Barry Dadon owns domain wwww.greenstenergy.com where Green Street's website is located.
What we still don't know:
1. The salaries of Tony Cataldo and Gerry Dameron the two employees of GSTY.
2. Just what Tony and the directors got in April on their fully diluted deal. (Jeff Figlewicz excepted as he made SEC filings on his 2% of nickel options.)
3. Who they are submitting the 1.1 million dollar loan request to and just what they are using as collateral for that loan.
4. Who made $ 300,000 loan and terms an conditions of same.
5. Cost to finish land purchase and build infrastructure for
wind power and transmission lines.
6. How many days a week Tony actually works at company offices in California.
And on a personal note how the 13 films that were jointly produced by Tony Cataldo and David Dadon did on this go-round of being released at Cannes.
Second quarter ends on Wednesday.
First quarter 2009 Tony ran through $ 456,000 in cash and increased liabilities by $ 300,000.
Second quarter should show some restraint as Tony has "cut expenses"
Mo quarter of a million advance to good buddy David Dadon for an option on his land.
One third less employees in second quarter.
No costly press releases.
Only one SEC filing by company in second quater. (And it was a month late.)*
*OOPs I apologize, I forgot about the accountants quitting in second quarter with the attendant 8K.(My bad).
Hopefully Tony can "get by" on $ 300,000 he got in May to pay himself, Gerry, and Ceocast.com as well as office and travel expenses.
Tony my offer to not report anything on GSTY for $ 5,000 per month as opposed to the $ 10,000 per month you are paying Ceocast.com (You are still paying them, aren't you?) to not make any reports still stands.
On first day when GSTY stock trades after Tony releases 10Q the price falls to less than a dime. No surprise here.
So
Three dollars left on the books and had to take out a 300k loan, plus in the process of getting another 1.1 million dollar loan. Predicting no revenues for the next 12 months. I guess the new loan will take care of administrative and operating expenses the next 12 months huh? I must admit the $3 made me chuckle lol.
16 trading days for GSTY(E) stock in June. On one day (June 2nd) 1300 shares were traded at a value of $ 390. On the other 15 days ZERO shares were traded.
Maybe Tony is running out of people that can be fooled all of the time.
Business plan for Green Street should include:
Costs:
Lamd acquistion: 12.6 nillion
Wind Tubine cost: Unknown
Cost to get transmission lines to property: Unknown
General and administrative costs: Unkmown
Plus
Maximum Megawatts of Energy that can be produced: Unknown
Income per year from sale of Electricity: Unknown
Ongoing costs of production of electricity : Unknown
At maximum capacity, time needed for profits from sale of electricity to pay back land costs, infrastructure buildouts, transmission line costs, and Tony's administrative and general expenses : Unknown
Heck we don't even know what salaries Tony is paying himself and Gerry yet.
Hard to throw money into a company with this many unknowns headed by a man who abandoned his last CEO job and failed to make the required 10K filing, not to mention the stock price history at his prior 7 companies.
Money saving suggestion for GSTY.
GSTY has a contract with CEOcast.com to "cover" GSTY at $ 10,000 a month. However the last time that Green Street was mentioned by CEOcast was on March 16, 2009 when it was still MWAV.
I am willing to provide these same "no mention" services for only $ 5,000 a month cutting this expense in half.
But then with only $ 3 in bank on 3-31-2009 maybe there is a reason for the "noncoverage".
I think CEOcast should be required as a natter of transparency to tell us which of the companies they are touting are not current in their payments to them. Perhaps the no mentions are their way of accomplishing this. Who knows?
Did I miss the "vote"?
from 10Q
On February 12, 2009, 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 year option to purchase 4,840 acres of unimproved property near Tehachapi, California (the "Property"). In consideration for the option to purchase the Property, the Company issued a three year $16 million convertible debenture with interest at 5% per annum (the "Debenture"). The Debenture is convertible into shares of the Company's common stock six months following its issuance at the fixed conversion price of $0.5517
(subject to customary adjustment for stock splits or other capital changes)
subject to the limitation that the holder may not acquire in excess of 19.99% of the Company's outstanding common stock at any given time without prior shareholder approval.
=============================================================
When David Dadon converted part of the debenture to 4,000,000 shares that 4,000,000 shares constituted well over half of the outstanding shares of GSTY(MWAV) stock; 4 million of a toral of 6.81 million and Dadon already owned a million shares giving him a total of 5 million of the 6.8 million outstanding shares. Any of these purchases blew the doors of the 19.9 % requirement that required shareholder approval. Was this a double secret ballot? How many of you folks voted to allow Dadon to assume a majority ownership position in GSTY stock?
Tony "I upped my income at GSTY, up Yours!" Cataldo strikes again.
Can't wait to see the terms of the $ 300,000 note in May and the particulars around the 1.1 million dollar loan. (Bet we don't know details until Tony is legally required to give them, probably second quarter 10Q on or about 8/15/2009. Maybe IT won't be a month late like the first 10Q. There isn't a film festival in August is there? Also hopefully this new accounting firm will elect to stay around as well))
Tony and Gerry are a little "filing challenged".
See Tony and Gerry's 2 prior companies in addition to this month late 10Q. It also seems that some form 4 or 5s should be forthcoming on the "fully diluted deal" for Tony and the directors.
Hey Tony how about a conference call to answer all the unanswered questions.
Wondering what happened to Jeff Figlewicz. Man, I had s just learned how to spell his name and he left. Durn.
Does anyone know how far it is from GSTY's 160 acres to the nearest transmission line capable of carrying the wind generated electricity.
I was told that the cost to get the line to the land is $ 1,000,000 per mile. Perhaps Tony can figure out how much it would add to GSTY's infrastructure cost by giving us the distance to an existing electricity transmission line capable of carrying the wind power electricity.
The Press Releases said that there were these transmission lines in the locality so if it is less than a mile perhaps this will be positive thing. Surely this was one of the first items of consideration in purchase of Dadon's 160 acres as well as the "option" on Dadon's 4,840 more acres.
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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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