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NICE!
I think people are finally waking up to what could really be going on here....
Jim's not doing anything wrong. He's just making forward looking statements, as in These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. and when they don't come true, well he did his best. Same with the JET MOTOR revenue that we never heard boo about, in going-on-a-year, the venezeula deal that was expected etc etc etc.
Meanwhile the elephant in the room is that Jim Dial won't let anyone speak to the transfer agent.
Then you got the pumpers like BBB and B2B, posting how they got this many shares, and that many people got all these shares too, and back channel messaging each other about how they know this person in the industry and that person who heard about how great the tools are that grifco makes.......all of them both trying to talk you into buying more shares, supporting their increasingly losing positions, and talking themselves into what a great decision they've made by buying more and more and more shares of GFCI. Where will these pumpers be (if) when the real truth comes out? BBB and B2B won't be anywhere near this board or the GFCI RB bull board I can guarantee you that! Dial and BBB and B2B and a few others have pumped this one up so long, now GFCI has lost longer term support at .18, down down down, IMO IMO
"But BBB you said you were long and strong and I bought based on how confident you were, what about my money?"
BBB?
BBB???????????????
Notice that he's not posting much anywhere any more. "well, there's not much to say..."
exactly
The uber-pumpers here claim to have inside knowledge of the oil and gas servicing industry. They just might. they might not, as well, but let's say they do, just for argument's sake.
what they haven't admitted, and what might be just starting to dawn on them, is that the oil and gas sector doesn't matter a whit, not one little bit here. you're in the pink sheet stock business here, and no one seems to have the slightest clue about how it's run. Except me, that is.
Challenge all of your assumptions people. Challenge every last one, as in "well they couldn't be doing that because _______. This couldn't happen because ___________" Then ask yourself the key question; "AND???", or "and then?"
Great post by schroeder btw
There is nothing firm about what's coming out of GFCI and hasn't been for a long time. We're going to, we're going to, we're going to. We're going to make 2 mm per month per 50 jet motors! We're going to be shipping them in a few weeks! We're going to break ground in Libya! There's a reason for this, IMO and it aint going to be pretty.....
allow me......
lady why don't you go bash somewhere else and let us lose our money in peace!
iiiiiiiiiieeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
smdal rajab
how'd I do?
I am gueesing that sparky jumped ship.
it becomes clearer that this one will just be one big heartbreak after another imo
Two things here;
1)the tough thing is that it's not difficult to lose (another) 10% of your holdings in this stock with a slight downtick. Those (still) holding $25,000 or more in GFCI are seeing money disappear at an alarming rate now. Another 2,3,4 grand is adding insult to injury when you're down 50 grand or more.
2)as GFCI gets lower and lower, you are going to be fighting against those who are (stupid) ballsy enough to buy large amounts here. Once we reach .10, and the (buying) and selling really start to pick up, the people bubying there only have to hit .20 to see a double. Great returns on a pinky! Unfortunately, when they start to unload their really lucky quick gains, the longs who are still holding onto dear hope are just looking upward towards break even....
this is sad
I guess Ol' J and company have about run out of buyers at this level. Next stop, we'll see how many more people will "double down" at the 52 wk low, .14 or so. I'm sure they can unload a few million more down there.
Oh I'm sure they'll buy a couple hundred thousand back, too. Sell 10 million, buy back a million. Sound good?
Those filings are just around the next corner boys. Any day now. We've got our crack team of auditors on it. In fact, the CTBG audit is completely done, we're just waiting on SEC approval and we'll announce it! Have you got any more money? Now's a good time to buy.....
did someone here say that they rotated out of IVAN and into GFCI?
OUCH!!!
b2b
This has got to be a very stressful situation for you, I'm sure. Please don't lower yourself to the level where you take it out on me. Jim Dial could make this all better with one small action.
"Dear Transfer agent
I authorize and request that you make publicly available any and all information regarding authorized and issued shares, of Grifco International common stock to anyone who requests that information.
Sincerely Jim Dial"
and yet he won't. A couple million shares a week are being sold from somewhere, and the people posting here and on RB keep soaking them up. Yet you see fit to insult my education level and earned title both.
I'm not the problem here, brother.
I tried to warn you above .40 that something was amiss. It's not my fault that greed has got you so blinded to facts and reality. Jim Dial appears to be lying through his teeth at worst and at best is just hanging you all out to dry, and yet you have a problem with me????
Denial ain't just a river in egypt b2b.
So much for Jim Dial's committment to make an announcement or PR to the world about verifying the share count!
He sure is doing one hell of a bangup job!
I just cannot understand why these guys aren't wall street darlings! Griffith doesn't know if he's on the BOD or not. Just classic. Ripe.
See you next week!
oldtx: I had not read the RB board since. I don't know if there was a retraction necessary because the link seems to have changed. I did see one poster that was going to "demand a public (or formal) retraction" from otcbb.com. I am sure that the full weight of OTCBB.COM's legal team is behind that effort as we speak!
I am also wondering where that "official statement" that was supposed to be forthcoming from Jim Dial is. Another poster said that he would be doing that ASAP. Maybe he's waiting until Monday before the market open, in order that he can REALLY CREAM those shorts once and for all!!!!
Oh My gosh! It's worse than even I imagined!
http://www.otcbb.com/asp/quote_module.asp?symbol=gfci
Hey sparky you want to call me names now?
Does anyone have a taperecording of Jim Dial on the phone (or better yet in person) telling them about the 37.5MM shares?
You'll need some sort of proof after all.................
Classic!!!!
from the RB board....
Jim Dial/Board of Directors,
Let me put this as plain as I can. There is no Board of Directors. About 2 month ago, Jim Dial told me that Jerry Griffith,Jerry Swinford an attorney and the CFO were on the Board of Directors. I called Jerry Griffith and asked him if he was on the Board of Directors and he said "I'm not sure." Now I find if very difficult to believe that you don't know whether you're on the Board of Directors or Not. Anyways, I asked him about the share by back press release and quoted "this has been decided by the Board of Director." His response was that Jim Dial and Jim Dial alone made that decision. I'm not here bashing Jim Dial, and I'm currently a shareholder. However, I have called Jim Dial on his bluff and told him I would gladly fly to Texas and meet w/the Board. He offered me to meet him in N.Y. and all of the sudden, the meeting there was canceled. Go Figure.
http://ragingbull.lycos.com/mboard/boards.cgi?board=OTCF%3AGFCI&origsymbols=gfci
yeah, I'll give these guys a hundred thousand of my money to watch. Count me in for a million shares, too!!!!!!!
YEEEHHHAWWWW we're all going to be rich!!
clever, why mock my position on Dial's refusal to authorize knowledge of the outstanding share count with a personal insult against my mother and my family?
There is no good reason to withhold that information.
I can see only one or two reasons why you would make light of that fact, and I sincerely hope the reason is that you have definitive proof that he is telling the truth, as in a statement from the DTCC/SEC on shares authorized and issued and your humor is directed at me for daring to suggest that SOS is probably more like 150MM than 37 MM.
Oh yeah they bought back 1.2 according to BBB, so now it's 36.3MM SOS.......
I'm a lonley shutin with nothing else to do
actually much of my day is spent at my desk, I spend a great deal of time investing in stocks as a way to augment my income and get ready for my retirement from practice, and lost a good deal of $$ on this stock and am still intrigued because if half of it is true (I still doubt it) then there might be a great buyin price at some point and the future might hold a gain of a few million for me if I choose to go whole hog on this one if the tiome becomes right.
I watched one stock for three years day and night and bought within two days and .50 of the low (going up) and made myself close to 2 million dollars. Did I waste that time?
Besides by taking a contrarian view and being somewhat abrasive I get the most realistic viewpoint I can about a company.
In the case of a good company I can get five or 6 arguments about why this is bad or this isn't happening. All I get with grifco is why don't you shut up or go away if you don't like it, or sparky calls me names........
besides Im spending less time with this one, about 5 min per day now, getting less, as the pciture seems to be fading away.
I like ot focus on stocks that will eventually have some hope of making me money and this one is about as long shot as there is.
in fact, there isn't anything positive about it that comes out without a LOT of backroom digging and or whispers
ok that's 7 minutes, now I'm gone for the day
Zona is still on a tare by the way
200 shares
which unambiguously qualifies me to offer any criticism of management's style, and or competence. And it gets my foot in the door to HQ.
I am thinking of going to grifco myself, too. I would really like to get to the bottom of this.
Thoughts?
I agree, if that's the case, then we will see some good action in the CTBG stock today or very soon, before that announcement is official.
GFCI will not follow until the market sees that Jim Dial is going to follow through with his plans to spin out CTBG from grifco, and follow through with his plans to distribute real shares and not restricted shares.
Grifco could potentially hold this whole thing back by not doing financials and not getting spinoff done.
Maybe that's why Dial is delaying all of this, he wants to make sure his company has something of value before all the people who bought for the jet motor ad coil tubing assets flee grifco stock when it's all said and done- assuming it's not all fluff.
This is still too risky to buy here, IMO, as we don't know why the jet motor isn't working, and isn't generating revenue as they predicted, and we dont' know anything about who gets what.
We don't know who is on the audit committe we don't know balance sheet and or income statement.
WHY WILL JIM DIAL NOT TELL SHAREHOLDERS HOW MANY SHARES OF GFCI THERE ARE????
This is all so wacky. They should have done an IPO to begin with. They could potentially string this along for years, between the confusion of the spinout and asset allocation etc etc etc. The question remains, why are they being so tricky? are they doing it because they are ultimately confused, or because they want to be?
stupid or crazy like a fox?
I know that if things start panning out there will be PLENTY of time to get in without the BIG RISK we see here.
once again sparky you dazzle all with your one liner's and smarmy intelligence.
I see those nasty naked shorters are back causing grifco to go down again.
Watch out when it breaks 18. Sheer panic
BBB
I'm surprised you admit that. 13.8 million shares in a float that supposedly have only 4.7 million last year? Dial told me that insiders have 95% of the stock tied up in restricted's, and that figure of yours gives lie to the 37MM sos theory quite soundly. 1/3 of the SOS outstanding are owned just by people who post on RB and Ihub boards?
Did you account for lyamec and their 6 million shares, too?
I don't see them there, and didn't plug your numbers into my SS program so I don't know, but I kinda doubt it.
19.8 MM shares just from one board, and they're still standing by the 37 MM?
Do you REALLY believe that is possible BBB? REALLY deep down?
Irrational exhuberance is supposed to happen when stocks are making new highs....
Cleverox
when are you going to Texas.
This will be really interesting.....
now now, Hank.
You're not supposed to bash their method of keeping the market on the run. Financials? nope. Share count or progress on audit and spinout? Nope.
Mystery tool with mystery testers!
That ought to be good for a few hundred thousand shares to go off, right?
guesses on today?
close <= .17 is mine
Hi Roland!
The point is that the audit cannot possibly completed in the middle of "another" acquisition.
They have just pumped you up again, and then have yet another delay to reporting.
"We're working on it!"
"Crack team of auditors"
No auditor in his right mind would sign off on SEC filings in the middle of a previously announced deal. It's Sarbanes Oxley hell. But, there's always the ol reverse split to get the ## of shareholders down to below Sox compliance issues, right?
another day,
another BS pumping PR based on absolutely nothing
Ummmmmm, arent they supposed to be working on an audit, and getting financials done right now?
Well, I guess this gives BIGJIMBO another reason to put you guys off for another 6 months while they iron out the financials from this deal.
Did someone on the other board say "crack team of auditors"?
Crack is right.
They cannot file financials for grifco if they are in the middle of a deal, which they clearly are based on this PR. They cannot spin off CTBG until the financials are done for grifco.
and around and around and around you go
they must really think you're stupid to pull this shit off
sam
so they're making 3 million a month from just the jet motor. And they have told investors that they have bought back 1 million shares so far?
3 million a month revenue on a one time $135,000 intial investment, (remember BBB said they only cost $1800 to make, each) and they've only spent 250,000 bying back stock?
how generous!
has anyone ventured the question to 'Ol JD what his compensation package is?
well stockpeeker, I guess calling me names is ok then, as long as they're "not that bad." Why you would call me names in the first place I have no idea.
As for sonjam's post
about calling the SEC and taking what's yours and starting an investigation, my point all along has been,
why put your hard earned money into a stock and management that would even come close to being where people would even suggest calling the cops on their own company, to take what's theirs. I bet even the diest hardest long felt a little pang of "hell yeah" when they read that post.
Why would you even bother with an "investment" where the management, at the very best and most optimistic doesn't care to share publicly what you should have a innate right to know, how many shares there are and what revenues are, and at the very worst, is trying their hardest to be circumspect so that they can con you out of all your money???? Why would anyone bother, that's my question, and my point....
stock peeker I can understand your frustration. If I still held this stock, I would be crapping bricks, too, and probably have a hard time avoiding personal attacks, name calling etc. but try to get a hold of yourself. After all, I was very open about why I thought it was a bad decision to hold this stock in light of the mounting evidence, yet here you are, calling me names. I find that rather odd. You don't see me, calling you or anyone else names here, yet you and sparky and BBB all feel free to attack me with ad hom's instead of anything of substance. I suggest you re-evaluate your position here, and why you're acting this way. I would guess that you'll find your emotions and worry are getting the best of you......
and I said I didn't have the nerve to short the stock. No matter finding someone, I'm not looking. There is just not enough reason to invest in the pink sheet market. Losing all one's money is the norm I'm afraid, whether it be long or short the cards are stacked againts you. IMO IMO IMO
hey stock peeker!
Well, I would guess you're showing your own ignorance because the SEC is talking about getting together with the DTCC to report FTD's in the pink sheets, kinda like they're doing in the NM's right now with Reg SHO????
Kinda like they're all talking about at the RB board how the naked shorting is killing this stock, how the VERY CEO of the company told me that this whole spinoff effort is an attempt to catch the shorts with their pants down, kinda like Mike King is telling people that 4 houses are shorting this one down down down?
Now if you're talking about as a retail, then yes there will be some difficulty, but with a portfolio the size of mine, I am kind of positive that if i looked to BC, or the Cayman's I could find a broker willing to allow me to open a short position in just about anything I want to...........
very glad I sold
very
only wish I had the stones to short this
I think it's going to .14 short term
there is no strength in the chart
if gfci sees 17 there will be panic in the streets, IMO
millions and millions of shares dumped
at this point the investors had bette hope there has been a LOT of shorting, as there might be some safety net at about 14 where people who (like me) saw the high teens as a given, as we dropped down from .40
should be interesting to watch it unfold
I Love this-
(from rbull)This message got zero response when i posted it on I-hub, but then again they are mostly big dreamers, or impatient daytraders over there. Not much into reality.
Here's reality:
http://stockcharts.com/def/servlet/SC.web?c=GFCI,uu[m,a]dacayyay[dd][pb50!b200][vc60][iUb14!La12,26,....
about to fall off a cliff, IMO
Occam's razor says that the simplest explanation is usually the right one. What is the simplest explanation for this action in the stock?
Also, since 3/8000 stocks make it off the pinke each year, you think that this (mis)management team will be THE ONE to pull it off?
The CEO will not authorize the transfer agent to release authorized and or outstanding shares to its own shareholders yet people are buying more and more and more stock. I just cannot understand. Are people THAT unwilling to admit that they've made a mistake? There are SOOOOOOOOOOOOO many good companie and stocks to invest in, why hold onto one that is so mysterious?
I will be back to check in later. My portfolio is having too much fun to pay much attention to this sad sad story.
PS has anyone called to verify that they have hired audtiors? There has got to be a firm somewhere that they supposedly have hired. Get the name and call. When I called Koblenz a LONG TIME AGO, he laughed, and said, "no they're not working on SEC filings!" A long time ago is September-October.
This is all my uneducated opinion and fraught with misunderstanding and mistrust that I always think that I'm being lied to by any management team until proven otherwise and may paint my writings with bias towards the bearish side.
zona!!!!!!!!!
jtomm
there are two issues, one being that the SEC won't go after anyone that didn't file something omissive, or commissive in their 10 filings. In the case of Grifco, the PRs all have that nice "forward looking" statement at the bottom in the fine print, and they cannot chase down executives for things that "investors thought they heard on the telephone".
the second issue is that "investors" always have the options of a shareholder class action lawsuit. If you can remember one that has been successful please let me know. I know of one or two, in the last 10 years. If you can remember one that came from the pink sheets without SEC filings to back it up you get a gold star, because I don't think there ever has been one.
IMO this is why Jim plays fast and loose with his telephone conversations and forward looking statements but very very close to the vest with actual facts.
WE'RE GOING TO BE ON AL HAIG TELEVISION SHOW
BIG ORDER FROM VENEZUELA COMING
20 CENTS A SHARE ON 20 MILLION IN REVENUE COMING UP
BIG ORDERS COMING FROM CHINA
THE GO AHEAD TO PROCEED IN LIBYA!
100 JET MOTORS AT 2 MILLION PER MONTH FOR EACH 50, EXPECTED SOON!!!
We have shipped and installed three jet motors so far.
All things that have been on PR's.
Have you seen follow up on jet motor, venezuela, china, libya, revenue for the last 7 quarters, shares outstanding in print, anything from the transfer agent to verify what you "think you heard on the telephone"?
I didn't think so.
I think that everyone speculating on this stock, should go back and read the litfiber board from two years ago, on RB.
Some notable conversation topics: (from that board, in my paraphrase)
Why won't Jarvis contact the transfer agent and authorize the release of SOS?
I spoke with Jarvis and he told me that they wer being heavily shorted through 4 different houses, those MM are trying to kill the stock but he's found a way to support it
(my favorite) Just hang on, Jarvis told me on the phone that they are 10 weeks away from the SEC filings
People, everyone here surmising that since Dial is saying these things to investors on the phone, that he will somehow be held accountable, should understand that Jarvis, did the exact same thing with this exact same shell two years ago. Tell investors about upcoming SEC filings, tell investors about numbers of SOS without allowing the transfer agent to release it publicly, release PR's about upcoming plans to make big deals.......
BBB
firstly, it was a joke. I do not believe there is any hope for you if you couldn't recognize that for humor...unless...
unless you are a homosexual, in which case I sincerely apologize for making light of your desire for tenbagger, if you laid yourself on the line (so to speak) and were trying to flirt, that would make sense of the reaction, otherwise,
lighten up a little
I know that might be difficult. In fact, when I still had money tied up in grifco, I was sometimes hanging on by a thread. But now that I've sold I have much less to worry about. I got back to my habit of putting my money into high quality investments where I knew that the management team would actually be held accountable, and it has made sleeping at night much much easier.
Lastly,
What an irrepressible adolescence!
I do not know what that means. Did you mean to call me an adolescent? Or did you mean to call my joke adolescence. If that was the case, "AN" was not necessary.
even more lastly,
although calling your writings progressively mature reason may be offensive to me alone, I don't have much to say about that, you're entitled to your own self opinion, for sure, but to to say that I "swing so senselessly from some idioticly unreasonable extreme to another on so many varying fronts"
is definitely an attack on me, and I would ask that you discontinue, please.
Like I said, I apologize if my writings were offensive to you in some "lifestyle choice" kind of insensitivity way.
tenbagger, here is what BBB wrote:
It is far, far better -- superior, even -- when others toot the horn on your behalf, as opposed to having you toot your own horn.
I think he is making a move on you, be careful.
HOUSTON, TX, Apr 13, 2005 (MARKET WIRE via COMTEX) -- Grifco International, Inc. ( GFCI ), a provider of oil and gas service equipment to the worldwide oil and gas industry, has acquired Coil Tubing Technology Holding, Inc.
Coil Tubing Technology Holding (CTT) has specialized in the design of proprietary tools for the coil tubing industry since 1990, concentrating on four categories of coil tubing applications: thru tubing fishing, thru tubing work over, pipeline clean out, and coil tubing drilling. CTT was founded in 1998 by Jerry Swinford, an oilfield tool designer with more than fifteen patents granted or pending and more than 25 years experience in the creation of oilfield tools.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
HOUSTON, TX, Nov 08, 2005 (MARKET WIRE via COMTEX) -- Grifco International, Inc. ( GFCI ) announced today that it has commenced the reorganization of its wholly owned subsidiary Coil Tubing Technology, Inc. ("CTT") in a strategic move to enable CTT to strengthen its market position as a leading provider of oil services technology and equipment.
On November 7th, 2005, the Company consummated a reverse acquisition of IPMC Holdings Corp. ( IPHG ) ("IPMC") whereby it exchanged all of the issued and outstanding capital stock of CTT in exchange for 75,000,000 newly issued shares of IPMC's common stock. As a result of the exchange, Grifco owns approximately 88% of IPMC's voting stock and CTT is a wholly owned subsidiary of IPMC. Pursuant to the terms of the exchange, the officers and directors of Grifco have been appointed as officers and directors of IPMC and IPMC's former officers and directors have resigned. The Company will change the name of IPMC to reflect its new focus as the parent of CTT's operations.
"The spinoff gives Coil Tubing Technology the ideal platform to strengthen its industry leadership and the ability to attract investors who recognize the value of our new breed of oilfield technologies," said Jerry Swinford, founder of Coil Tubing Technology (CTT). "CTT would like to welcome the GFCI shareholders into this exciting and new iteration of our company."
The Company also announces today its intention to spin-off the operations of CTT from Grifco as a special dividend distribution to its shareholders. Grifco anticipates the spin-off will occur shortly after a registration statement for IPMC's common stock is declared effective by the Securities and Exchange Commission. After separation, CTT will be a separate publicly traded company in which Grifco will not retain ownership interest.
10bagger: I was told by three different sources that they were at least considering giving away restricted shares for the div. Apparently, so was BBB, becuase at one point he published a littany of material on how it was common practice among the pink sheets.
Here's a question for you; if they did indeed plan on giving a rtestricted shares dividend, what would your opinion be?
Han:
"if you want published financials, and o/s share information go buy amex, or nasdaq"
this about says it all. Pinks are absolutely no better than rolling the dice at vegas. It's a pure gamble, plain and simple, and I value my money more than to put it down on a red/black and let'er roll. All the talk of doublling down, etc on this and the RB board makes it apparent that there is some serious gambling going on.
how is this relevant to the fact that it's entirely possible that Jarvis and Dial might have "rented" coil tubing from Swinford, in order that they might print shares, sell them to the public to the tune of 40 or 50 Million?
My uneducated prediction, based solely on my prejuddiced and overactive imagination, is that the shareholders of Grifco are going to get 70 million shares of CTBG that will be restricted and never be able to be registered (due to "cost" "bad dirty shell" etc etc etc), and that the current float of about 10MM CTBG will be "it" and that swinford, dial and jarvis own most of those shares. Cash, assets, jet motor, revenues go to CTBG along with the CFO, and grifco shareholders are holding millions of dollars (cost) of paper backed by a few contracts in Libya and China and who knows where else. This is all IMO. I'll be back in a few days to check on y'all. I hope I'm wrong.
1)you just don't get it. the scam isn't a fake box scam. there are people working for grifco. they have tools, and revenue. They sell/rent things to a small segment of the oil industry. they probably actually make money! IMO the big question is how many little pieces have they divided this one up into, and how much money are they actually making, and who is getting the money when all of you are buying your million share positions or excuse me some of you "only" have a couple hundred thousand shares of greed.
2)I only come around here because I was P&D'd into this one, and I figure someone might try to P&D it again successfully and I want to ride the 20 cents if I can to get out even from my little foray into the pink sheet hell.
Look, let's just hypothetically say that anyone could authorize 200MM share, of XYZ tell the investors that there's only 20MM OS. After they sell the 20MM shares people start asking questions. Hey i've got 400,000 share of this bad boy and my buddy got 300,000 and my otehr friends got 3million how come it's not going up, we control 7% just in my group alone! CEO of XYZ says come on down, I'll show you the shop, nothing to worry about, we've got lathes and boy they're all turning. Financials in a little bit, oh we're planning on doing a dividend too! We'll get you the information just as soon as our auditors get the books cleaned up. No I'm sorry I cannot let you talk to the transfer agent. They could acutally tell you how many shares there are printed, and we're not done selling the rest to you yet!
Meanwhile the revenue of XYZ is $250,000 a Q and they've got profit of 50K. Now what about those share, oh yeah, we've just sold another 17MM for acqusition. Oh great.What about the PR with the revenue and earnings from 2004 (it's 2006 now people)? those weren't audited and we made a huge mistake on those. They weren't actually filed you know, we just gave them to mister las vegas! Now XYZ gives the owners and friends of XYZ the other 170MM shares and then spins the assets into ANOTHER company. Whamo- you've just sold $12 million dollars worth of stock in a company generating a million dolalrs of revenue and given mostof the assets back to the people who rented you the company to begin with. no I am not talking about grifco, this was a disturbingly similar (eerilley similar actually) example used in my corporate finance class. On why to avoid non-reporting pinks. I am NOT talking about what I think Jim Dial and friends are doing to make themselves money and leave you holding an empty bag.
There is a real company there, no doubt about it, but you're probably paying $20 for a 50 cent piece.
I have been calling around, to see if perhaps I was wrong about Grifco, and the market may be just dead wrong about the pricing. After all, with supposed growth and revenue in the tens of millions of shares it shoud be trading up, not getting ready to fall off a cliff.
I called numerous places, numerous transfers among people, at most of the companies listed in the pumps about grifco
No one has ever heard of Grifco.
Halliburton? three people there never heard of Jim Dial or Grifco
Shlumberger? Nope
Weatherford, after all the jet motor is supposed to knock off the macdrill, right?
No one there ever heard of the jet motor.....
None of theses "partners" ever heard of grifco, or maybe I wasn't talking the right people?
And the stock?
must be the shorters and those pesky MM's trying to keep all the shares for themselves!
Another stock to watch.
IVAN
even in the oil sector! Ten bagger potential easily.
And then there's ZONA, my little buddy, undervalued by at least half......
Han
what announcement?
Cleverrox
Where did you read the charter? Do you have a link?
The good news, is that I am thinking about getting back in at .14. Depends how we trade, but I think retesting the 52wk lows is inevitable with the almost perfect descending triangle we have formed. Picture perfect, and the drop to test .14 should be today or tomorrow.
People who bought above .40 are nearing max pain I fear, those who loaded up with extra shares above 25 are starting to freak out as well.
The sad thing is, that Jim Dial is probably flooded with frantic calls from "investors" wanting reassurance, and knows exactly what he is putting you all through, yet still, will not release the transfer agent to put into print how many shares there are outstanding, and what the plans are for the spinoff/dividend.
He could easily throw you a bone, with one phone call. to the TA but won't.
hmmmmmmm