Silver Linings?
Ok I'll admit that things don't look good.
1. The company website, apparently owned by Barry Dadon, is down again.
2. CEOcast.com, the company's $ 10,000 a month IR firm, has not mentioned anything about GSTY since March 2009 when it was still MWAV.
3. Tony Still hasn't found anyone to take Jeffrey Figlewicz's job as CFO.
4. Second quarter results acually worse than first quarter's in spite of reduced staff and reduced communication. Tony borrowed and spent $ 300,000 and ended up with ZERO money in bank and a $ 159 overdraft charge.(Tony even had to lend company $ 20,000 to make it through June) Also, besides that $ 300,000 debt(secured apparently by the 160 acres that GSTY actually owned) Tony actually increased expenditures by another $ 350,000 for accumulated expenses.
5. No word on the 1.1 million dollar funding that Tony said he was working on in June.
But look on the bright side.
1. After the usual 10Q-NT Tony did in fact file a 10Q, as pathetic as it may have been. This is better than Tony did at VOIC, his last CEO job, where he filed a 10K-NT on April 1, 2008 and fled the scene never to show up there again.(maybe he saw it as an April Fool's joke)
2. The company is still alive (it is, isn't it?). Means someone is paying the bills or willing to accept IOUs from Tony into the third quarter.
3. Tony actually loaned the company $ 20,000 of his own money to make sure the bills were paid. (Of course it may have been that or accept GSTY stock as payment for his salary, but still.)
4. Accounts payable actually went down about $ 10,000.
Have to see how Tony keeps "Staying Alive" as we head down the road.
The sorta good news is that except for a very few extremely gullible day traders I believe that most of the company stock is owned by David Dadon, Tony Cataldo, and the directors (current and ex) and not many retail investors will get hurt if this company meets the fate of Tony's previous CEO headed companies.
(See MEMI and VOIC)
