Thursday, January 23, 2020 11:37:19 AM
Rontan Lost all their motions to kill the litigation. Then their Lawyer quit. And now they have failed to comply with the court.
Default Judgement against Rontan
Brothers probably won’t respond to the call tomorrow and neither has filed the required discovery so they’re in default also.
Specific Performance and damages Incident to specific performance to be awarded
My guess is a settlement agreement will be worked out. Bolzan’s don’t have the energy or time to keep fighting. Better to let Max and GDSI take over and keep the company going, for the employees and creditors, than to let the company die.
That’s why they would buy at .0190.
That’s why there is a current bid to buy at .0190.
There are no sellers at this level and rightfully so with an annual revenue of .18 a share ($128m) the current pps is 1/10th of that.
With a modest PE of 6 this will be trading at $1.09 under the share structure currently in place. ( I used 700m shares for my calculations actual is 640m)
This is why investors buy at .0190
GLTA
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