NHDP - Brown Still Refusing To Answer Questions About His Advisory Position with Florida Company

Former Securities Regulator and State Senator Agree That Company Was Extremely Questionable, Troubling for Investors
Huffington Post: Scott Brown Advises Firm Whose Executives Were Sued For Securities Fraud


Concord, NH—Following revelations that the chief executives at Global Digital Solutions, Inc, for which Brown served on an Advisory Board, were sued in 2012 for allegedly committing securities fraud in a "pump and dump" case, former head of the New Hampshire Bureau of Securities Regulation Mark Connolly and founder of White Mountains Investment and former State Senator Harold Janeway spoke out about Brown’s involvement and this shady company.
“GDSI raises regulatory red flags, including that members of its management team have allegedly engaged in past efforts to artificially inflate stock prices,” said former head of the New Hampshire Bureau of Securities Regulation, Mark Connolly. “When I was a regulator, so-called penny stocks like GDSI caused our agency serious concern. The company apparently has also been cited by federal regulators for not accurately and fully disclosing its financial condition. What’s also of concern is the long time lag in reporting stock grants for compensation, such as those awarded former Senator Scott Brown. Transparency and disclosure should be of paramount importance at this time of investor skepticism."
“This company is a total sham, even within the league of penny stocks. There is nothing behind the curtain,” said founder of White Mountain Investment and former State Senator Harold Janeway. “Global Digital Solutions is neither global, digital, nor solving anything. The company's latest quarterly report to the SEC makes abundantly clear that the company has no business, generates no revenues, and has a cumulative loss of over $19 million. It exists merely on misleading press releases and by using shares in lieu of cash to stay afloat. Clearly Scott Brown didn't do even the most rudimentary homework before joining the 'Advisory Board.'"

"Possibly the $1.3 million value on the 1.5 million shares granted to him merely for his advice clouded his vision as well as his judgement.  It appears that he not only sold his name, but his reputation as well," added Janeway.

The Huffington Post reported, “GDSI CEO Richard Sullivan and CFO David Loppert were among those accused two years ago of defrauding the shareholders and creditors of a marketing technology company, Argo Digital Solutions, by transferring its assets to a shell company they controlled, rVue Holdings.
“The plaintiff settled with GDSI's executives for an undisclosed sum last month. According to court documents, Sullivan and Loppert were accused of boosting Argo's shares from 25 million to 250 million -- claiming that there would be a $100 million initial public offering -- and then moving the new shares to rVue, leaving Argo to fold.
“Neither GDSI nor Brown's campaign responded to a request for comment.”