Replies to post #12449 on GSI Securitization, Inc. (fka GSII)

[slimpickens]

gmcgm. I fully expect that gs will get you your investment back.
Having said that I wouldn't mind not hearing any more about your being lied to or taken advantage of.
I fully understand that the amount of money you lent gs was substantial. I understand your regrets but what part of making the decision to lend to a pink sheet company with no earnings are you willing to take responsibility for?
I don't want to seem harsh but we've all made poor decisions in our life. I also have a boatload with gs. We sue, move on, or otherwise figure out a way to deal with it.

[jerseyboy]

Gene,

This never was going to be a life-changing investment. The sum total of what happened here is this: Dennis pushed the stock using what he believed to be an accurate forecast of the company's potential results from Gil. Gil's over-optimistic forecast never came to pass due to his inability to get funding for the purchase of receivables. In 2009 he got lucky and found a party who had worked in the industry and understood the validity of the business model who was willing to finance the purchase of receivables through a joint venture of which GSI owns 50%. In 2010, through a circuitous route which I won't fully explain here, GSI happened to find a company whose strengths complement GSI's, and they began to put a deal together to combine the two companies. It's taken forever due to a variety of factors, but negotiations continue and the second version of the merger agreement is expected to be in Gil's hands by tomorrow. Both parties appear to be excited about working with each other, and I believe the deal will come to fruition, as each party needs the other for the strengths that one has that the other does not.