The whole business plan from the outset was flawed. Then once the stock was de-listed, there became NO chance of ever listing again. Audits dating back to 2003 would have to be completed and a market maker would have to sponser a 15 C-211 which will/is never going to happen. But more than that, the whole plan was flawed. Here's how.......
Hospital receivable have been factored for YeARS and YEArS IF the hospital need to cash flow. The again on the receivable is/and always has been very predictable making it a darling for Asset Based Hedge funds to lend against using their low interest rate credit facilities.
To "securitize" receivables and think that investors/brokerage firms would buy them was/is ludicrous. It will never happen. It was flat out a bad idea.
In addition, GSI NEVER had any money, so it acted (Gil) as a broker in the best case scenario for ABL funds and /or A/R funds. GSI never planned nor could it ever raise enough money to directly lend.........so the only fees it would ever see would be brokerage fees of may 5-10% which is probably just about enough to make the CEO a nice commission check, but that is all.
In the Lending envirorment, there is little or NO chance that GSI could/would ever be successful.
I can't believe that there is still a board out here discussing whether or not this stock can ever be monetized. GSI was/is never a Company. Just a flawed idea with a public vehicle to allow the insiders to make a little bit of money each year without reporting it in my opinion.
Best of luck to all.
