$8100 in cash, millions in liabilities Dec 2018, propped up to $50,000, millions more in liabilities Sep 2019, per their own (GDSI) official SEC filings.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Going Concern
The accompanying financial statements have been prepared assuming we will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. We have sustained losses and experienced negative cash flows from operations since inception, and for the Nine Months ended, September 30, 2019, incurred a net loss of $ 1,848,568 and used net cash of $ 1,249,720 to fund operating activities. At September 30, 2019 we had a working deficit of $ 5,072,867, and stockholders’ deficit of $5,046,585.
Our cash position is critically deficient, and payments essential to our ability to operate are not being made in the ordinary course. Failure to raise capital in the coming days to fund our operations and failure to generate positive cash flow to fund such operations in the future will have a material adverse effect on our financial condition. These factors raise substantial doubt about our ability to continue as a going concern.
We need to raise additional funds immediately and continue to raise funds until we begin to generate sufficient cash from operations, and we may not be able to obtain the necessary financing on acceptable terms, or at all.
We will continue to require substantial funds to continue development of our core business. Management’s plans in order to meet our operating cash flow requirements include financing activities such as private placements of common stock, and issuances of debt and convertible debt instruments, and the establishment of strategic relationships which we expect will lead to the generation of additional revenue or acquisition opportunities.
SCAM
NO OTHER EXPLANATION NEEDED
SHORTS ARE PLAYING WITH FIRE HERE!!!!!
Roasted next week!!!
We love seafood, especially flame broiled shrimp !
