Monday, August 27, 2012 8:52:27 PM
Mr. Marc A. Lovito serves as the President and CEO of Gold Coast Mining Corp. Mr. Lovito served as Vice President and Secretary of Gold Coast Mining Corp. since September 2001. He served as Vice President with LBI Group, Inc., since June 1994. Mr. Lovito served as President of LBI Properties, Inc., a position he has held since February 1998, and Vice President of LBI E Web Communities, Inc. Mr. Lovito is also a partner in LBI Asset Management LP and LBI Capital Partners LP, positions he has held since July 1998. He served as Director of Gold Coast Mining Corp. since September 2010.
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.
A record of continued failure after failure by the Lovito brothers is very important so that shareholders know who is trying to run GDSM.
Here are 3 of the 4 Lovito brothers, Matthew, Paul and Marc, and proof that LBI Properties was served an eviction notice in May of 2003 and ordered to vacate by June 1st or the sheriff would move them out.
Paul and Mark were involved in these companies at the same time they were involved in GDSM.
Evicted again in 2004 shows continued failure.
From the Florida SOS we learn that Brass Bulls and the LBI companies went inactive around 2009.
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