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Re: PennyHoper post# 44569

Sunday, 01/19/2020 11:22:30 PM

Sunday, January 19, 2020 11:22:30 PM

Post# of 67186
Being a jobber only, they own no equipment. They sell a design, the customer and GSFI sign a contract on the agreed financing terms, GSFI hires a contractor. This Newark project certainly is not a backyard project. It looks to be a rather expensive project. I suspect what happened in Vegas was that they were trying to raise money to build the thing and get permit approval at the same time. They couldn't raise the money, so they didn't pursue the permits.

I agree with you that my suggestion of the $.01 offering is unreasonable (actually bordering on ridiculous), but wouldn't prospective shareholders feel more inclined to buy shares knowing they only gambled a penny per share as opposed to $.75 per share -- at least until GSFI's business plan gains some traction. I don't know. ... $.10 per share???

They want to raise $10,000,000 but maybe they should start with a more humble amount >> $1,000,000 to $2,000,000. If they complete this Newark project, it will be easier for GSFI to raise money and at that point they can consider a higher amount. Showing photos of past projects and looking for folks to spend $.75 per share to raise the $10mil isn't working.


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