When a Gennady Fedosov and Anna Ivashenko, a Ukranian business man and a former floral designer, filed an S-1 in April, 2010, who would have thunk it that their former Global GSM Solutions could ever be anything but an Awesome Penny Stocks play? Well, research in hand and connections a-flowing, get Gold & GemStone Mining Inc. (GGSM) on your list of the best damn penny stocks to watch immediately. After the traditional 45-for-1 forward stock aplit, GGSM stock is officially on the pre-promotion list.
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GGSM Stock Price
Issued and Outstanding: 150,750,000 as of June 18, 2012
Seed Investors: 60,750,000
Fedosov and Ivashenko: 2,000,000
Current GGSM Management:88,000,000 tagged as restricted
The due-diligence guru, nodummy, uncovered a slew of connections between the Company, Gold and GemStone Mining, and a number of former plays by BDPS. Included in them were Bioflamex (BFLX), POWRtec (POWT) and Vendum Batteries (VNDB). what we have recently found was that the same attorneys used for the S-1 filing in April, 2010, Cane Clark LLP, have recently given their opinion (see here) on a well known APS connected play, GroveWare Technologies (GROV) which houses the former players involved in Great Wall Builders (GWBU), Awesome Penny Stocks last promotion.
GGSM Stock History
On March 25, 2011, the former florist designer, Anna Ivashenko, removed herself and was replaced by the new lead singer of the GGSM band, Geoffrey Dart. Feeling lonely and not being able to speak in his native tongue, Gennady Fedosov also stepped down making Geoffrey the leader of the one-man band, kinda like Harry Lappa and Mackie Barch.
Now that Geoffrey was king of the caste, he filed on April 11, 2012 to redirect the idea of dong business with this new shell towards mining and authorized his first move towards the GGSM scam: increasing the shares from 75 million to 400 million (a typical structure for an APS play), changed the name from GSM Global Solutions Inc. to Gold & Gemstone Mining Inc., approved a 45-for-1 forward stock split and then sat back and waited for the changes to become effective. The changes took place on April 30, 2012.
Now that the shares had been split for a pump, the Ukranian business man and former floral designer had 180 million and 90 million shares respectively at an average cost of 0.00002. Not bad for an original joint investment of $6,000. The original 25 angel investors on the S-1 collectively now held 60.75 million shares for their collective $27,000 seed investment, now just 0.0004 per share.
Now sitting with all these shares in a company that does nothing, Geoffrey must have gotten board or a calling from a disposable cell phone because just one month later on May 4, 2012, GGSM entered into a collaboration agreement with Ridgeback Mining (Sierra Leone) Limited regarding a joint venture on three prospective diamond and gold properties in Sierra Leone. As part of the agreement, Geoffrey left the Carson City, NV sand box, the Ukranian business man and cancelled his 180 million shares, the 26 year old former floral designer,Anna Ivashenko, transfered 88 million of her 90 million shares to the new management.
Today, GGSM is run by Charmaine King, President, CEO, CFO, Secretary, Treasurer and a director, who owns 65,387,500 shares; Timothy Cocker, Chief Marketing Officer BoD member, owns 15,075,000 shares; and Tom Tucker, V.P. of African Mining Operations and BoD member, owns 7,537,500 shares.
The deal between Ridgeback Mining and Gold & GemStone Mining calls for them to pony up $4.5 million which is about as likely to happen as Michael Jordan following Roger Clemens and coming out of retirement. GGSM is supposed to pay $1.5 million per concession within the first 12 months of operations. The only $1.5 million that is going to be affiliated with this deal in the hourly volume of trading on the penny stock, GGSM, when the pump is turned on.
About GGSM Stock
Gold and GemStone Mining Inc. is an exploration stage company that will engage in the acquisition, exploration, and development of Diamond and Gold properties around the world. Integral to our plan is to form strategic alliances and joint ventures with gold and diamond mining companies.
See all the SEC filings for GGSM here.
Bottom Line: IF GGSM is the penny stock pick of Awesome Penney Stocks, expect to see this turd run like a wet burrito and play the strengths. At a dime today, this has the potential to pull all kinds of PR news out, including the fact that DeBeers is set to be reinstated for trading on the NYSE after a 60 year ban. If it is anyone else but APS that runs GGSM, life expectancy can be cut down from 2 months to 2 weeks max.
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