Added GSVI (0.045x0.05) to profile list.
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SYMBOL: GSVI
Name: GSV Inc.
Shares Outstanding: 1,796,690 as of 10/26/2001
Share Float: 1,300,000 (per Market Guide)
Cash on Hand: $1,445,000 ($1,089,000 net of debts)
Cash Per Share: $0.61 (net of debts)
Total Debts: $356,000
Contact Name: Gilad Gat, Chief Executive Officer
Contact Phone Number: (203) 221-2690
10/30/2001 09/30/2001 10Q
Registrant's telephone number, including area code (203) 221-2690
The number of shares of the Registrant's common stock, par value $.001 per share, outstanding on October 26, 2001 was 1,796,690 shares, excluding 341,155 shares of the Registrant's common stock held in Treasury.
Cash and cash equivalents $ 1,445,000
Total liabilities $356,000
12% Series A Preferred stock, $0.001 par value; 636,365 shares authorized; 363,637 and zero shares issued and outstanding, respectively
Common stock, $0.001 par value; 75,000,000 shares authorized; 2,137,845 issued; 1,796,690 and 1,848,540 outstanding, respectively
At a meeting of the Board of Directors of the Company held on June 21, 2001, the Board approved changing its operations to active business activities including acquiring, developing and engaging in real estate ownership and management of properties in Japan. The Board also indicated that it would consider making other business acquisitions.
The Series A Convertible Preferred is convertible into shares of the Company's Common Stock, at a conversion price of $1.10 per share, subject to certain anti-dilution adjustments.
In March and April 2000, twelve purported class actions entitled Ames v. Cybershop, Ezeir v. Cybershop, Fuechtman v. Cybershop, Kaufman v. Cybershop, Goldenberg v. Cybershop, Marino v. Cybershop, Waldarman v. Cybershop, Page v. Cybershop, Young v. Cybershop, Johnson v. Cybershop, Hitzing v. Cybershop, and Gerber v. Cybershop were filed in the United States District Court for the District of New Jersey against the Company and certain of its current and former officers and directors. On April 25, 2001, lead counsel for the plaintiffs was designed and an amended complaint was filed. The amended complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making or causing the Company to make materially false and misleading statements about the Company. On May 18, 2001, a motion to dismiss was filed on behalf of the Company and all other defendants. Plaintiff has opposed the motion and the motion awaits a decision by the District Court.
Gilad Gat Chief Executive Officer
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