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Oddly enough the last 10Q I could find was Q3 2015 which means they have not filed an annual report or Q1 which means they don't want you to see it because GDSI always filed. If I missed something, let me know.
In that Q3 10Q they had 115K in cash and shut down their only revenue generating operation. How do you assume they are not broke? Trips to Brazil, high dollar accounting firms, lawyers in the US, lawyers in Brazil. And, did I say no money coming in?
Sullivan will probably sue because it's not his money, just sell more shares. He seems to be holding out for one last pop. I just find it moronic that he cannot close one deal that is larger than a 3 man operation. The letter to Remington was so absurd that I wonder if he really is legit or not.
Here is a link for the duty free shop, $58 for a Rock Patel ouch! Good luck with that when a Cobiba Robusto is $20, lol.
I emailed them to see about tall the other stuff on Franks invoice that they do not show on their website. Notice the Cubacan listings, how long before Frank takes Credit for those shipments?
http://www.bjdfs.com/dfs/dis_list.asp?BigClassName=CIGARS
If you want to engage in a serious dialog and not pump talk I'm in. Let's start with how one many is going to make any real difference in another country. I give it six months and he announces his own cigar shop dropping the whole talk about attacking a $5B market, which one man cannot.
You said it, need proof not a bunch of PR's then VFIN shows up. You will see an increase int he A/S, just a matter of time.
I do not believe ANYTHING Frank says. I emailed Cubacana and nothing back yet. I know people in the cigar industry being I smoke them every day and live in FL so I know many shop owners and reps. I'll check it out.
That must be one hell of a factory for $40K in stock. Plus, picked this out of that announcement.
"Upon completion of the acquisition"
Doesn't sound done to me
Doesn't anyone wonder where Frank is getting the money from for Cubacana? If they were truly doing $2M in China, which I highly doubt, then what is the company worth accounting for the rest of their sales? Also, what is this statement in the PR "significant interest", Frank doesn't know the percentage he says he's buying?
Sounds good on paper but did the DR factory deal close? Any sales numbers reported from that? Why talk only about Cubacana in China and not their WW sales?
Frank
That club in China is not cheap
Celebs will bring big business at the duty free shop, LOL
Found an article from Feb. in the South Fl Business Journal and here is the opening paragraph, not sure why info is sparse on General American Capital Partners.
"At 51, Joseph E. DaGrosa Jr. has had decades of experience in the private equity industry, successfully founding or co-founding MapleWood Partners, Beaconsfield Capital, Core Value Partners, 1848 Capital Partners and now General American Capital Partners. But if you had checked with him 30 years ago, DaGrosa would have said he was going to be a CFO or treasurer at a stock brokerage or financial services firm."
I searched a while back and didn't find anything but did find a website that was registered I believe a month or two before the announcement last year. Don't recall the URL and can't find it again.
I did some search on their address and all I can find is the owners name "Janek Delgado" which ironically has the same last name as our very own William Delgado.
Not much out there after a quick search, Joe DaGrossa and his wife Jessica each contributed $2,700 to Marco Rubio if anyone cares.
Yeah a CS rep in another country from corporate office has insight into what's happening. More lol
So DeGrossa doesn't update his Linkdin page so what's posted there must be true? Lol
I love the peeps searching for any hope. I don't need cheepies, at this point have no issue chasing it on the way up if it gets there.
As a full member here is what you get, not sure where your numbers are coming from.
"May use all the facilities at Happy Valley Clubhouse, Sha Tin Clubhouse and Beas River Country Club at all times.
May use The Beijing Clubhouse facilities under a reciprocal arrangement."
It really doesn't matter, you have money invested and need to chat it up. I just try to create an honest dialog which often isn't found in this place because it's just a pumpers paradise.
My issues with the pics is I've seen them time and time again in pinks to add legitimacy of what's going on. He's talking big but acting small, the financials will tell the story don't need pictures of boxes. That to me is just for short term runs to sell shares.
I believe he said he retained the attorney which means costs will show on the quarterly. If there are no costs, then all he did was choose an attorney if he needs one.
Lastly, just noticed this, OTC Markets didn't update yet. Why would you do this when you have a lot of runway left before hitting 5M unless you're there already which they do no appear to be.
"The company increased its authorized treasury stock from 5,500,000,000 to 9,500,000,000"
I'll have to read the rest later but with duty free and the club it's like saying my products are being sold a convenience store and a country club. You verified what I'm trying to say, Frank talks big plans but delivers on a small scale. He does not have the resources to attack a multibillion dollar industry.
Only time will tell, good luck.
I know you guys own shares so your perspective is different but what he is talking about will require massive amounts of capital which they do not have. You can't talk billions of dollars and be working from your house selling shared to finance trips to China. If Frank thinks he has the plan to make this big, he needs to pitch a venture capital firm to get some serious money.
Just my take, GLTA, hope it works out. I just know from CAGR that Frank had the same big talk about the Chinese wine market but ended up with one store in the basement of a mall that nobody went to. He went from being a wholesale distributor to the entire Chinese market to a single failed store.
One more thought, he will not get access to Cuban tobacco. Habanos S.A. controls that and they have more demand, with an embargo, than they can supply. They are actually buying tobacco from Dominican Republic because they don't have enough.
Good post, pretty much sums it up at this time. Wanting and wishing will not make anything happen. There are the usual pumpers here that are back with the "you'll be chasing" but at this point I would rather chase than end up at .0001
I'll sit in on the call for entertainment value. Most likely a lot of talking without much being said. I'm waiting for audited fins to be a believer because so far I've heard about two shipments to the same store in China that total maybe 30K in business.
The picture with Frank and the boxes stacked up is the typical penny land scam crap as are overdoing all the pictures.
Where can I find call in info?
I saw a letter of intent, any closing confirmation?
Except the Brazilian state predators need to approve any acquisition form a foreign entity.
The big question for me would be, what is the global breakdown on Rontan's business. They don't sell vehicles in the US but that appears to be the largest part of their business. So, domestic vehicle sales in a country with a financial crisis and Rontan's huge debt makes for a bad story.
I did some DD on the investment firm a while back and their domain name was registered a couple months before the announcement was made. I emailed 1848 capital partners asking about Joe's involvement and they never replied.
That whole Miami area is one shady place.
More reading on that stellar bio
"A former adviser to ADS told me “Dick [Sullivan] had an almost mystical ability to enroll others in his acquisition scheme and used that ability to buy one company after another.” Yet by June 2002 the company was battling shareholder lawsuits. Operating losses of $232.5 million piled up over a two year period. The stock price plunged from $18 to 11 cents, NASDAQ threatened to de-list ADS"
I'll stop now, I can go all day and haven't even got to Argo.
"According to the complaint, Kates, Argo Chairman Richard J. Sullivan and Senior Vice President David A. Loppert —who all now hold top-level positions with rVue — perpetrated the fraud after getting into disagreements with the investor-plaintiffs.
The fraud allegedly involved the executives placing Argo's stock and other assets into rVue operating subsidiary rVue Inc., then allegedly organized a "pump-and-dump" scheme to raise capital from new investors."
At least their SIC code is correct.
SIC - Industry Classification 2844 - Toilet preparations
Toilet preparations have been completed, lol
I posted the pictures of the eviction notice and can repost if anybody needs them.
As far as Sullivan, you people need to read all of what's out there and not just what GDSI says. I did this a while ago but a quick search brings up three nice paragraphs from the same article. The last one shows how he left with his tail between his legs.
"Retiring Richard J. Sullivan, chairman and CEO of Applied Digital Solutions (Nasdaq: ADSX), is leaving the company on the same day a deal giving the company more time to pay its $95 million debt to IBM Credit was announced, according to the company."
"Applied Digital has a history of massive losses as it bought and sold numerous high tech companies during the last decade. It holds a majority interest in Digital Angel, a firm that has developed an implant chip for animals and people that can track their movements and vital signs."
"Sullivan's golden walk is not as golden as it could have been. He agreed to a $10.6 million severance package, a reduction from the $17 million his contract provided for, and he has to take the payout all in restricted stock, according to the company."
Sullivan is not a genius, he's a throw enough chit against the wall, paid for with other peoples money, and maybe something will stick.
Most of the regulars are already gone. Same old story; wow look who's here, big money coming in now, this guy is a legend…
They did their job and got it up to 15. I do feel sorry for those that invested too much in this thinking it was going to be a dollar.
I would like to know how much of his own personal money he had invested and I bet the answer is zero.
NACSV is being sued by PowerUp so that was a scam for some cash.
SOMEBODY SAID THE DEAL IS NOT DEAD, YOU KNOW WHO SO IT MUST BE SO. LOL
There was a chance this could have been something but it didn't pan out, oh well. The old adage "don't gamble what you can afford to lose."
Did I say anything about an attorney for the company? We've been round and round on this before you became a bag holder.
The deal is dead because GDSI never closed a deal except NACSV and as I understand it that guy was on his deathbed and there is still a lawsuit pending.
I still have the contact info for that SEC attorney that called me I should give her a ring.
Airtronics backed out, Rontan backed out, NACSV went through but no longer operating, then there is the intention to buy Freedom who owns Remington for $1B
After a while one has to believe, legit and filing or not, Sullivan can't get a deal done.
Don't forget the recent lawsuit with the factoring lender PowerUp suing NACSV. There are so many red flags, I should have taken the profit and ran.
I put a lot of time at one time into researching Sullivan and everything, and I mean everything, he touched had a lawsuit tied to it.
He does not have the funds to fight Rontan, especially in Brazil.
I believe any foreign company looking to acquire a Brazilian company has to go through their government first. I read up on the process at one time but this would be a costly legal battle for GDSI and will have to print more shares to pay for it.
I'm right there with you. Had a four bagger, jumped back in Friday now have a no bagger. Oh well, just the way it works out. At least I got out, a lot of bag holders from Friday's run.
Unfortunately everything Sullivan touches ends up in a lawsuit, and I mean everything. Should have stuck with my gut.
I don't know looks like Florida license plates to me in that picture.
Ascendant knows how to kill a nice and steady run
Congrats to those that got in this morning. Been in a steady climb since the bounce.