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Re: $b_rich$ post# 80912

Monday, 08/27/2012 8:15:00 AM

Monday, August 27, 2012 8:15:00 AM

Post# of 162647
Marc Lovito is the current CEO of GDSM. His personal financial history is about the same as his brothers.

Marc lacks experience at running a successful business and that should be of concern to shareholders as his track record of failures shows a lack of the ability to run any company and even control his own personal finances. While unable to pay his taxes, HOA dues, judgements and mortgage payments he drives a Hummer? Thirteen years of documents prove that he is not able to control his finances. This is not the record of a responsible successful businessman.


In 1999 a lien was filed against him for $4,021 for work performed on his property.

They live at 6910 NW 28th St. in Margate, FL., 33063-2051. Previously they lived at 6950 NW 87th Ave in Parkland, FL, 33067 a home they bought on 10/13/1999.



On 12/7/2005, a lien was put on their condo at Coral Lakes Estates for failure to pay the $90 per Quarter maintenance fees.
But no problem, they just re-financed it to pull out $45,000 on 1/20/2006 with Household Finance Corp III but they had a $20,000 note to pay off.

On 11/13/2006, Marc and Josephine took out a mortgage for $325,000 from Stewart Mortgage Services in Houston, TX.

On 1/28/2008, a Lien was filed on property they owned at 10922 N.W. 46th Dr. in Coral Springs for $1,255 by the Kensington Green Homeowners Assoc.
Another lien was filed by the HOA on 2/5/2009 for $1,340.00.

Marc and wife, Josephine were foreclosured on 24 Jun 2010 when they could not refinance it anymore and failed to pay some $368,000 plus taxes, etc. on their home to Deutche Bank National Trust Co. and the Coral Lakes Estates HOA.



Where did Marc get the $15,000+ to pay off this lien? Sale of GDSM shares? Dam pinks never reveal when the insiders sell their stock!

Certificate of Release of Federal Tax Lien - recorded 7/9/2012 for taxes for the periods ending 12/31/2005 ($10,368.43) and ($5,400.42) 12/31/2006.

Marc is also deep in debt from the lawsuits and the failures of Brass Bulls and LIB companies.

There is also a lawsuit against all four brothers by American Millennium Investment Corp. in the Circuit Court of the 15th Judicial Circuit for Palm Beach Co.