Hopes for Next Week
1. Tony Releases 10Q for first quarter.
DONE SUCH AS IT IS.
2. Tony has a conference call to discuss the 10Q, why it is a month late, the recent resignations of the accountants and two directors, just how that 10% of "fully dilutede stock" deal works (especially with 2 directors who resigned), and why the website was down for weeks and is now back up with incorrect info(5 year old "Opening of New York Stock Exchange" posted on 2 pages of website)
OF COURSE NONE OF THESE ADDRESSED
3. Who in the company has "multiple successes" We can rule out Cataldo and Dameron at their last companies for sure. Is there a "successful" invisible employee that they haven't told us about?.
STILL UNDETERMINED
4. Just who Tony is referring to as a $ 300,000,000 funding source on the website.
NOT MENTIONED BUT $ 300,000 FINANCING DEAL DONE . COULD TONY HAVE MADE A SLIGHT ERROR PUTTING $ 300,000,000 IN WEBSITE INSTEAD OF $ 300,000.
5. Will there be a $ 16,000,000 "Goodwill" entry on asset side of balance sheet to offset the $ 16,000,000 debt owed to David Dadon for the "option" to buy his land?
UNBELIEVABLY TONY LIST ENTIRE $ 16,000,000 AS AN ASSET
6. How many days a week has Tony spent in the california offices of GSTYE?
STILL WONDERING
7. Perhaps we may get an update on "Daddyfox", "Jungle Juice", "Very Mean Men", or any of the other 10 films jointly produced by Tony Cataldo and David Dadon that were released in Cannes last month.
STILL TO COME?
$ 456,000 cash gone in 3 months (except for $ 3)
Liabilities up over $ 300,000 from $ 383,000 to $ 684,000.
$ 300,000 in new debt in May (8K?)
New accountants issue going concern on first 10Q.. NOT UNEXPECTED..
Company stock 70%+ owned by David Dadon.
All land mortgaged
12.5 million still owed on option whether GSTY ever buys land or not.
Company says probably no income anytime soon.
Company needs to raise cash.
(Just to pay for the $ 165,000 in monthly expenses that Tony apparently is incurring)
I'll bet that the company will have run through most of the new $ 300,000 by the end of second quarter. Who would like to loan some unsecured money to GSTY, or take a second position behind the $ 12.5 million dollar "option".
HERE COME THE PIPES?
