SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : GALTECH SEMICONDUCTOR MATERIALS CORP. (GTSM)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: gammaray who wrote (319)5/17/2002 11:24:08 AM
From: Mahatmabenfoo  Read Replies (1) of 394
 
FROM THE 10Q
On March 15, 2002 , the Company entered into a debt agreement
with Varity Global, Inc., whereby the Company would receive $80,000 in cash

Note that:

1. GTSM can't even spell the name of what it tells us is its investors (it should e Verity, not "Varity")

2. The 10Q says under the agreement the Company "would" receive $80k. In light of the fact this is unaudited and this company's past history of deceit, I have no confidence that GTSM did receive anything

3. For March 31st (AFTER the March 15 deal with "Varity") GTSM's cash in the bank was just $358. So where is the $80K?

4. Even if GTSM does get the $80K, the 10Q says:

"unless the Company is able to obtain substantial additional funding from Verity or another source, it has insufficient funds to pursue meaningful development of its process for production of semiconductor materials. The Company will not have enough money to purchase cadmium telluride and other crystal growth supplies until it obtains this funding"

5. The SEC statement also says "We did not receive any revenues during the three months ended March 31, 2002, and 2001".

The funniest thing about all this is... you either believe GTSM when it says it doesn't have enough money to do R&D or you don't.

I do.

- Charles
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News