Sunday, April 20, 2014 3:47:49 PM
http://www.sec.gov/cgi-bin/browse-edgar?company=continental+prison+systems&owner=exclude&action=getcompany
The company has also given restricted stock to many investors over the years in the form of "Private placement memorandums (Securities Act Rule 506)" (page 27)
http://www.otcmarkets.com/financialReportViewer?symbol=GPSI&id=72275
When GPSI engaged in a reverse merger with PFOU it inherited roughly $2.41 million in debt. GPSI gave the trust 5,000,000 non-dilutable shares and 7,500,000 dilutable shares. GPSI also agreed to pay the trust 5% of gross revenues for a 10 year period. (note 10)
http://www.otcmarkets.com/financialReportViewer?symbol=GPSI&id=71435
Couple things to remember about the trust:
1. Payments are already in year 4 and I believe that GPSI will issue the trust restricted stock and end its obligation for the 5% gross revenue payments.
2. The trust is a legal agreement to a third party and not a way for management to steal company revenues from the shareholder as some unsophisticated investors have claimed
3. As the agreement stands, the trust is a liability and has a finite value reflected on the balance sheet.
In order for restricted stock holders to cash in their shares at respectable brokerage (ie TDAmeritrade) GPSI must be fully reporting......yes that mean releasing AUDITED FINANCIALS.
Secondly, top management owes the following amount of shares:
Ron Hodge 1,259,882
Gregg Hodge 380,791
Jim Sylvester 386,174
If GPSI's stock price is $10, Ron is worth $12.5 million. To release this value GPSI WILL release audited financials.
If you believe that Ron and crew are stealing money from the trust you must also believe:
1. Ron is dishonest....I believe he is honest and hardworking
2. Ron makes more money from stealing from the trust than growing the stock price to $10 and beyond...The numbers don't bare that out.
3. GPSI lawyer (who the company works with very closely)is in on the fraud and takes the risk of going to jail. GPSI would risk being de-listed...I believe Management and the company lawyer are smarter than that.
4. Ron intends on screwing all 504 investors and venders who have been issued restricted shares, including the company lawyer.
5. NASA faked the moon landing
THE ONLY SCENARIO THAT MAKES ANY LOGICAL SENSE IS THAT GPSI RELEASES AUDITED FINANCIALS, STARTS PUTTING OUT 6 MONTHS OF PRESS RELEASES AND THE STOCK GOES TO $2.00 PLUS.
GPSI THE COUNTDOWN IS ON!!!!!
FEATURED Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM