GD Entertainment and Technology Inc (GDET)

[Joe Burmeister]

The SEC complaint didn’t even mention GDET. It specifically mentioned “… Seaside Advisors and its owner Lawrence Adams, engaged in securities fraud”. I think any criminal/civil liabilities fall on the Seaside Advisors.

I also think the GDET AS increase was a reflex response for Ballas. UBQU AS increase to 50 billion was done prematurely. UBQU wasn’t even in compliant with 15c2-11. So he had no access to the additional 30 billion shares until UBQU becomes current. So what was the point of the AS increase? I think he panicked. He could no longer issue shares to toxic lenders as the OS was maxed out.

Then the GDET opportunity came along, and the 1st thing he does as CEO of GDET is to increase the AS. Now he can breathe easier knowing he has access to 20 billion shares to enrich himself. You never know when the right toxic funding opportunity comes along …he has probably already acquired more “loans” and issued more convertible debt. The shareholders aren’t privy to such disclosures. There maybe some language in the note where the lender can’t convert until such and such date. But like night follows day, the selling of convertible debt will be here sooner than later. And there will be nothing in the financials to explain what happened to all the loan proceeds. Just like UBQU acquired $550K from GPL this past spring …in exchange for some 8 billion shares.The quarterly stated it was to be used by Cannazall but then Canazall tweeted in September that UBQU doesn’t support their operations and they rely on sales to support their business. Go figure.