Tuesday, April 18, 2006

More Smoke and Mirrors from GTXC

the recent "re-listing" on pink sheets.com, as David Hagen, er... Defusco..whatever, tries to keep the SS Gatelinx afloat, has 2 filings. http://www.pinksheets.com/quote/finance.jsp?symbol=GTXC
First, look up Robert Von Briessen and there are no cert's, filings etc. He's a CFO, who lives and has a personal e-mail address for pinewild country club, and there is no trail. Hmmmm...
Second, in the filings, they now disclose what you heard here first, that the facilities and operations that they have around the world, weren't real. Quote, from the filing...
The Company leases rack space in four server co-location facilities s as follows:
1380 Kifer Road, in Sunnyvale, CA 94086 @ $270.00/month;
111 North Canal Street, Suite 200, Chicago, IL 60606 @ $275.00/month;
300 Bent Street, Cambridge, MA 02141 @$200.00/month; and
5821 Fairview Road, Suite 103, Charlotte, NC 28209 @ $1,913.85/month.
No other facilities were listed (save the mail drop in Nevada, and the Gatelinx homestead in Southern Pines, NC). Where's Bulgaria? Where's London England? Where's the "sales, marketing and operations" offices in San Francisco?
There's more.. read the filings, compare them with other filings and with their own website, press releases and (yes) even this blog.
Read the bio of the esteemed CEO, Curtis Garth. Now there's a leader. Where the bio for Ivan? Where's the bio's for the sales and marketing? (oh wait, they don't have any) Where's the bios for the CFO?

Notice in the financial filings it doesn't say where the revenue came from. Cause it ALL came from DishTV Now. Not one penny came from Gatelinx, er.. GTX Global...er... GTXC. And, since they sold Dish, where are ANY revenues gonna come from? They're "working through licensing and marketing agreements to develop a customer base with the resultant income stream. Management is also attempting to arrange further equity financing..." SCARY. No revenue, no technology, BS partnerships (yadio, govalin, heelstrike) and they are attempting to get further financing? How about taking some of the money from the stock scheme to fund it?

Last, 3,000,000 share to hagen (does that include the 1,000,000 share of preferred he was issued?) Do a level II search and find out how many they've been dumping.



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