The company does not have to file an update on Edgar or issue a press release because the FTC court case isn't closed. The FTC filed their appeal last night just before the deadline, again. They argue procedural errors were made. Because they do not claim new evidence, people who follow this closely gobbled up what may be the last of the cheap stock. Myself included. If an update comes out from some source then offers may disappear but I can't see it going over.75 until the case is finally closed and the product back in big box retailers and sales agents' hands I could be wrong.

https://www.jdsupra.com/legalnews/court-gives-cold-shoulder-to-ftc-s-70210/

I believe the situation is that the FTC filed notice of appeal and they have until Feb 5 to file the reasons for the appeal and why the court's decision should be overturned or remanded to a new trial. IVDN will probably ask for summary judgement to have the appeal thrown out. It seems unlikely the decision will be altered. Joe's hands are tied until then.

"In a dispositive decision during a bench trial, federal district court Judge Nora Fischer of the Western District of Pennsylvania found that the FTC failed to present any credible expert testimony to support its suit for false advertising, and entered judgment for Defendant Innovative Designs (“IDI”). "

I have researched on the Internet that an appeal can be sustained only on two situations: That the plaintiff can show material, substantive new evidence that could not have been known during the case trial.
Or that there were procedural errors. The judge was adamant that the FTC failed to prove their claim of false advertising. I hope i paraphrased that properly.

Owen Naccarato should know that new auditor Steve Corso is an alias for Stephen P Corso a convicted felon with a revoked CPA license and he doesn't pay his bills.

Who's the auditor of this disaster?

http://www.gdsmholdings.com/corporate/corporate-directory.html

According to GDSM website Coro is the auditor."Auditors

Corso & Company 572 Shasta Drive Encinitas, CA 92024"

Sorry, I didn't know corso was let go. who's the auditor? Everything about Shea is in the FINRA disclosure he never did any corporate finance.

Yes and the auditor Stephen P Corso (who uses the name Steven John Corso - there is no Steven John Corso anywhere it's an assumed name)is an ex con with a revoked CPA license and a fake law degree. Nevertheless, these criminals could make the stock go up again. Moreover, Michael Francis Shea's credentials are simply smoke and water. Here is his FINRA registration number: 3043684. He once was with BAC for a short period of time before being terminated, hardly enough time to do any corporate finance. He's a promoter, that's it.

Michael Francis Shea is a promoter let's not forget that. He has zero corporate finance experience, never had the series 24 was never a managing director for GE Capital etc and took the series 7 twice with long gaps in his FINRA registration history. He could still pull it off however. And he appoints an ex-con as auditor.

Look no further than "CFO" Steven John Corso. That's an alias to avoid detection. He's really the notorious Stephen P Corso. Any questions?

There is no Steve Corso associated with GDSM it's an alias. His real name is Stephen P Corso which he changes to avoid detection. He'll be before a federal judge soon and you'll finally have this confirmed.

Who's the auditor of GDSM. Is it still Stephen P Corson a/k/a Steven J Corso?

I think you're right. After Steve Corso releases the audit the financial picture will become much clearer. Mike Shae is shareholder friendly and up front with us all the time. The risk is squeezed out at .0003. Once revenue is generated they'll all jump on board at once.

I finally partially agree with you Fishmanszmit. You'll see my bid at .0002 as it's a worthwhile shot eggs or no eggs. The websites ARE real and regardless of anything else it has a shot for a small investment of a few hundred or couple of thousand dollars.

THE SEC publishes what it receives from the company. Obviously, they haven't been tipped off yet. Stephen P Corso is the so call auditor and you can ask Shea during the webinar; it will be confirmed, but, again, the questions are screened. At worst, this is identify theft.

Yes and this can't be done without the auditor's (Stephen P Corso) acquiescence. Questions should be raised during the teleconference but they are all screened.

That's right, I agree with you. Plus FINRA records demonstrate that Michael Francis Shea never had any of his claimed 25 years of corporate finance experience. He was only registered 2.8 years over a 9 year period, always entry level. Auditor Stephen P Corso is another piece of work with a CPA license revoked in CA and withdrawn in NJ. He changes the spelling of his first name and uses a "J" initial to cover his tracks. I asked Mike Shea and Stephen P Corso IS the auditor.

I HOPE IT DOES WHAT YOU PREDICT !

So he's not licensed since 2009 yet still files financials claiming to be a CPA. Something is wrong with this picture.

Don't throw caution to the wind. Corso is not licensed in ANY state.

Don't believe the deception. Corso is NOT licensed as a CPA in any state. If he is licensed, what state? You'll see his license in CA was revoked and that's it ! He can NOT produce a valid license.

CAUTION: GDSM Auditor Stephen P Corso (a/k/a Steven J Corso) SUSPENDED from practicing before SEC in 2009.
https://www.sec.gov/litigation/admin/2009/34-59766.pdf

I hope so too. It's just how can you believe a CEO of a publicly traded firm that misleads about his credentials?

MICHAEL FRANCIS SHEA'S SUSPICIOUS CREDENTIALS
I hope the stock goes up but how was Shea a "managing director" for securities firms and private equity without the Series 24 license? He was only a series 7 and 63 (according to FINRA Broker Check) for a couple of years with 3 different firms. I'll look into this more....

http://www.dca.ca.gov/cba/discipline/accusations/ac-2012-41.pdf

There is something "fishy." Corso and Company of Encinitas is Stephen P Corso who served time in federal prison for tax fraud. His CPA license was revoked by the state of California in 2009. He also was cited by the SEC in a stock manipulation case. Google Stephen P. Corso SEC. He also stole five million dollars from clients. He files financial statements for a number of Pink Sheet companies.

Then why would Shea retain an auditor, Stephen P Corso, who's CPA license was revoked by the State of California for tax fraud and has to use aliases because he can't practice before the SEC? Shea is all smoke and mirrors also. Don't be fooled. Corso even served hard time,something fishy going on when thousands of legitimate CPAs are available. there must be some advantage to having Corso..... Apparently, other sub-penny stock companies feel the same way ...

Scottrade works the bid/ask there is no extra "cost." Nice try. Scottrade is concerned with investor protection.

Do your own due diligence if you're considering the stocks for which he audits including GDSM. Simply Google Stephen Peter Corso and be amazed. He's a "former" stock manipulator too you'll see, banned by the SEC. Any other questions or comments? Just ask.

That's right. And their so called auditor, Stephen Peter Corso will not release financials because they're so poor. GDSM has no access to external sources of finance. Corso isn't even a CPA, his licence was revoked for fraud.

That's right. And guess who's involved with PRGE? Steve Corso, sub penny stock's premier auditor. He's the fake CPA and fake atty.

They can place restrictions on stocks and that is what ScotTrade told me. As a result, ScotTrade allows sell only orders on GDSM. Other brokers may follow.

Absolutely. And for an obscure sub-penny stock enough promoters to sink a battleship.

Steve Corso of West Palm and Steve Corso of Encinitas are different people. If this is identity theft Corso, Shea and Hazeltine are going to be inundated with paperwork. I'll let the SEC sort things out by filing an anonymous tip when I get back. I'm a former compliance director.

GDSM's auditor Steve Corso CPA license revoked yet Shea silent on this. How is this company's financials credible?

The Steve or Stephen Corso retained as auditor for GDSM is absolutely the non-CPA who was previously an informer for the FBI in a criminal matter and served hard time. He'a a fake attorney. His address of record clarifies this.

National Securities Clearing Corp (NSCC)investigates. Stock restricted at ScotTrade due to illiquidity. Could a DTC chill be next? Auditor Steve Corso withholding material facts, CPA license revoked by state of California. Uses aliases to avoid detection by SEC.

Don't forget the star auditor for GDSM is ex-con Steve Corso who was disbarred and his CPA license revoked. Is there anything credible about this company at all? Shea withholds materially important information from shareholders. No wonder you think bankruptcy can't be far off.