"Mr. Slickster"?
From the 10Q
NOTE 8: SUBSEQUENT EVENTS
On May 1, 2009, the Company completed a $300,000 loan with interest at 10%. The loan is collateralized by a portion of the Company's land and is due on May 1, 2010.
The Company is in the document preparation stage for an additional loan of $1,100,000 which will also be collateralized by its real estate.
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Since the only land that GSTY actually owns is the 160 acres that they bought for $ 250,000 of stock, if Tony can actually borrow $ 300,000 AND $ 1,100,000 ($ 1,400,000 total) against those 160 acres heck even I will give him a vote as "slickster" of the year.
I don't believe anyone would loan $ 1,100,000 against an unfulfilled 12 million dollar plus "option" on the remaining acres. If Tony can pull that off however I would vote him "slickster" of the year for that move as well.
With Cataldo at the helm the ride is always interesting.
