$b_rich$'s Penny Bank Stocks

[lmcat]

LEGAL PROCEEDINGS
As previously disclosed, the Company has been engaged in litigation with its lenders from the Company’s previously owned wholesale produce subsidiary. In July 2011 the court entered a Judicial Default against the Company for lack of legal representation.

The Company has since had additional discussions with counsel for the Plaintiff to pursue a final resolution and settlement of the matter. It is the opinion of management that in light of bringing the Company’s financial filings current and the potential mining project(s) with Western Sierra, a favorable resolution to this matter can be achieved.

So looks like GDSM could not even afford a lawyer!

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=69266