From GDSM's Quarterly Report. The accompanying fi

From GDSM's Quarterly Report.

The accompanying financial statements have been prepared assuming that the Company
will continue as a going concern. This basis of accounting contemplates the recovery of
the Company’s assets and the satisfaction of its liabilities in the normal course of
business. Through December 31, 2011, the Company had incurred cumulative losses of
$11,615,963. As of December 31, 2011 the Company had negative working capital of
$214,170.

The Company’s ability to continue as a going concern is dependent upon
obtaining financing adequate to fulfill its exploration activities, development of its
properties and achieving a level of revenues adequate to support the Company’s cost
structure. Management’s plan of operations anticipates that the cash requirements for the
next twelve months will be met by obtaining capital contributions through the sale of its
common stock and cash flows from operations. There is no assurance that the company
will be able to implement the plan.

What properties? GDSM does not own any - another false statement in their QR.