GWSC is not in very good shape
This is an excerpt from Tim Sykes (timalerts.com) regarding GWSC. It doesn’t appear the lofty (relatively speaking) stock price that GWS Technologies has reached is going to hold for long. The crash of the shares is probably only being supported by the shorts who are covering. As Tim Sykes mentioned, he expects it to head down toward $1.
When looking into the press that was issued on this company, you have to pay attention. The “news” that they released had to do with a proposal that the company submitted for a project. It wasn’t a contract win. It wasn’t a closed sale. It wasn’t a partnership. It was for a submission of plans for a project. That would be like me saying that I might get Wal-Mart as a customer simply because the checkout clerk gave me the name of the person to send something to. Is that newsworthy? Hardly!
I will keep my sell order in place at a conservative number and hope to bank a fair profit (I could use one of those). I would expect to reach my number today especially as news/analysis reaches more sites and more sellers show up.
From Tim Sykes…
the company has less than $1,000 cash, no audited financials, they’re delinquent in paying suppliers, they can’t pay their workforce so they’ve laid people off, they can’t raise $ because lenders want personal guarantees from management (who don’t appear to be willing to give those), they’re in a legal battle with rumored stock promoter/manipulator Douglas Furth & Co. (one of the largest shareholders in the blatant pump & dump SPNG) and they have a $100,000 loan that they can’t pay back!
Yup, it’s pretty much the worst news all around, the only positives, which they are quick to mention in PRs galore (which they’ve paid for with big cash compensations) is that they’ve submitted plans for a big solar project…yup, that’s right, they didn’t win any contract, they just submitted plans…and given the company’s dire financial situation and sketchy sketchy background, I’d say the chances of them winning this contract is less than 10%…
Oh yes, that CEO interview on SmallCapVoice.com the other day was paid for with (read the disclaimer HERE):
GWSC: Small Cap Voice received $40,000 from the company and 150,000 restricted shares subject to Rule 144 of the Securities Act of 1933 from the Company on 7-15-08 for 90 days of service. Small Cap Voice received an additional 275,000 restricted shares subject to Rule 144 of the Securities Act of 1933 from the company on 11-15-08 for an additional 180 days of service.
via The Single Worst Company I Have Ever Shorted, Prepare To Laugh | TIM – Timothy Sykes.
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