Replies to post #13798 on Global Digital Solutions Inc (GDSI)

[C.R.T]

Rain you are the man.... AMAZING FIND.... BOOOOOOOOOM

[Ultimate Warrior]

Connecting the dots!

Like I said earlier, a lot of the stuff in the 10Q is boiler plate stuff that found its way in there as a result of business conducted by "pre-Rontan" GDSI. We are about to enter into the age of Rontan/GDSI and some of the negatives that seem to be in the 10Q will be non-issues. They are already cleaning it up!

[C.R.T]

GDSI USING ACCOUNTS RECEIVABLES TO PROTECT SHAREHOLDERS AND PAY OFF CONVERTIBLE NOTES TO STOP DILUTION....

BOOOOOOOOOOOOOM

[FIERCE]

Excellent DD find Deep Dog Digging

I knew I didn't see any conversions on level 2!!!

[midway]

Excellent! Thanks for the post. eom

[DTGoody]

Incredible Find Rainmaker! So happy I decided to load up on this last week! Your DD is Amazing!

[DTGoody]

MODS Please Sticky Post #13798! Incredible find by The Rainmaker!

[Namaste Charting]

OMG

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

GDSI

The Rainmaker Member Level Saturday, 11/07/15 01:41:04 PM
Re: The Rainmaker post# 13797
Post # of 13821

Today's Amazing discovery.The 10q says they used the money from the Power up factoring agreement to buy back toxic notes. OMG they didnt do the factoring deal because they are broke.....they did it to stop the dilution. This is a great deal....they sold off some accounts receivable to keep 100 million shares from being issued. Guarding the Castle until the Rontan Reinforcements arrive.


The Company used the purchase price proceeds to satisfy in full the obligations under the notes payable to KBM and Vis Vires, which are more fully described in Note 6 – Notes Payable.


Under the terms of the Factoring Agreement, NACSV, as Merchant, agreed to transfer to Power Up in consideration of the purchase price of $59,000, all of the Merchant’s future receipts, accounts, contract rights and other obligations arising from or relating to the payment of monies from Merchant’s customers and/or other third party payors (collectively the receipts) at the specified percentage of 24% until such time as a total of $76,700 is repaid. A specified daily repayment amount of $457 is required to be made to Power Up as a base payment to be credited against the specified percentage due. The Factoring Agreement shall have an indefinite term that shall last until all of the Merchant’s obligations to Power Up are fully satisfied. The Company used the purchase price proceeds to satisfy in full the obligations under the notes payable to KBM and Vis Vires, which are more fully described in Note 6 – Notes Payable.

[514]

Oh yeah

[blanka]

Awesome DD!!! Honored to have such hounds of Due Diligence to Clarify the smoke and mirrors on GDSI

[hockeypond]

Not to put the onus on you but I have a question. It's good to see the notes/derivative's be reduced from $496k to $312k from this 10q to the prior. As you discovered KBM and Vis Vires notes of $59k will be paid with the factoring agreement but where does this leave us with the balance of $250k? When are they due and will this cause further dilution now? The following statement below is of interest to all of us and curious on your analysis. A conference call with the shareholders would be nice.

As a result of recent declines in the fair value of the Company’s common stock, the Company does not currently have sufficient authorized shares to satisfy in full its obligations under several of these convertible notes payable. Accordingly, certain of the note holders have the right to accelerate the payment due under the terms of their note. In addition, they have the right to require that additional shares and/or monies be paid in connection with this technical default. At September 30, 2015, the Company has accrued $31,346 of penalty interest associated with one of these notes. The Company intends to request shareholder approval to increase the number of authorized shares of common stock in the near future in order to satisfy its obligations under these notes.