GTSO signs JV agreement with Diamond V Associates. GTSO will provide "funding and business expertise".
"Funding": The company currently has only $24k in cash. From the latest 10Q: Our monthly cash requirement amount is approximately $25,000, and as of March 31, 2012, cash on hand would fund operations for less than one month.
"The Company anticipates it will require around $800,000 to sustain operations and effectively evaluate new business opportunities over the next twelve months. However, if our mining claims [huh? - what mining claims???!?] show significant deposits, then we may require several million dollars of additional financing. The Company intends to seek to raise these funds through equity and debt financing" - awesome - more dilution coming!
"Business Expertise": Paul Watson has no mining experience. What he does have is a clear track record:
Nov. 2, 2011 to present -
GTSO went from $33.00/share to $2.24/share - a drop of 93% over 7 months.
Watson is also CEO of Obscene Jeans (OBJE), which went from $0.35 to $0.04 - a drop of 89% over the same 7 month period.
Furhtermore....this JV does not relate what benefits GTSO will receive for providing "funding and business expertise" - what benefit does this JV have for shareholders? Equity position in the mining claims? Risks? Rewards?