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Hi Strongus, here's a weird pink
I say weird because they have audited financials, and are fully SEC reporting, publish share counts, insider ownership, etc.
NZYM.PK may have turned the corner with a profitable quarter. The company has absolutely no hype at all - virtually no PR except for sec reports, no hedge funds, no private placements, etc. New management has just taken over so their corporate philosophy could change.
The stock is definitely under the radar. Nobody, including management, is promoting the shares. I think it's a good long term play especially for a buy out. Only problem is that volume is tiny so this might not interest any in your group who are looking for a quick profit, a narrow spread, and plenty of action.
Good luck with your pinks - I see that you've already struck gold.
best2
Rusty, Failure to deliver sounds like Jim Dial
Failure to deliver stock to Robinson Reed
Failure to deliver a CTBG share dividend
Failure to deliver a Libyan manufacturing facility
Failure to deliver the merger with Tree Top
Failure to deliver UERI gas well warrants
Failure to deliver a stupid cheap FAQs web page (really shows his contempt)
IMO, If Jim Dial would deliver something, anything, the "shorts" (if any) would run and the stock would run up!
JMHO
best2
But Dr. B, you too could Score Using the Internet!
Just find a fool who owns a small business and persuade him to LET YOU TAKE HIS COMPANY PUBLIC.
Thanks to modern technology and the internet any stock game can reach millions of potential marks in the comfort of their home or office. Even today, there are literally hundreds of marks who still believe in the existence of "good faith". Any grifter who controlls a pink can use antiquated safe harbor protections to exploit the mark's greed or appeal to the mark's sense of value using "forward looking" press releases. Large internet services like Yahoo and countless broker web sites now trumpet every grifter's tale to everyone in the world!
Remember the old days when grifters had to meet the marks face to face and hire expensive shills or pay costly boiler room operators? Now they can avoid these expences that cut into profits by using free and anonymous stock message boards to pump up the game. If they do have a little extra boodle, they can get easily get trading volume assistance from P&D professionals at low cost.
_______
You've said repeatedly that playing this "game" is not in your character and that it has "cost some good people a lot of money". Looks like you were right. Here's hoping the laws are changed or the pink bubble bursts!
best2
Cyo, thanks for the link
I was aware that Jim Dial can't strip Grifco and leave RR with an empty husk, but that might not stop him from trying to get away with as much as possible. He's not honest and fair person IMO - just a businessman taking advantage of any law, argument, or action that will help him get rich. I probably don't have this scam stuff exactly right, but I would argue as follows:
You have pointed out that JD is no longer listed as an officer of Grifco with the Louisiana Sec. of State. Some of Grifco's parts are stand alone companies registered in their various states - we don't know exactly what the relationships are between them. There's been an agreement in place to spin-off CTT as a stand alone company for some time. Grifco has also announced "go public" status for Universal Energy Resources, Inc. ("UERI") and Precision Drilling & Exploration, Inc. ("PDEI"). These agreements, or actually going public, may protect the shells from RR action, at least to some degree.
Let's assume, for the sake of argument, that JD does not care about Grifco's future or stealing assets directly, but only about controlling a public company for the sake of stock sales by proxies (the money maker). In this case he would be anxious to form as many new shells as possible. If you look at Jim Dial's proposals, merger, spin-offs, roll-up of assets, & forming UERI in the light of the pending suit, I believe that he is providing himself options for the future. The situation is fluid and RR may settle out of court, Grifco may go BK or secure new financing, then there's always Universal.
Jim Dial capitalized Universal with the 56.5 million GFCI shares "pledged" (according to TTII's 14A). In a move that's completely out-of-character, he's actually doing something (drilling) on the Universal gas lease options. I suspect if JD can stall RR long enough, he could return the pledged shares to the GFCI treasury and use income from the gas wells to fund Universal's operations.
Thanks for your reply to my post.
Just my opinion & not very well informed one I admit. Does it make any sense to you?
best2
Stephan, RR wants to milk the cow not murder it
since you can't get much milk from a dead cow. IMO RR is not interested in liquidation or ownership - they just want cash with as little aggravation as possible. If RR shorted GFCI stock last year, they've already made at least an 80% return on the short position.
If Grifco goes bankrupt, the additional return on a hypothetical 100 million share short position at 3¢ would be less than their loss on the debt that's accrued (before Grifco's liquidation).
This is only my opinion. If you can give a reasonable explanation as to why RR would want GFCI to go bankrupt, please do so.
best2
What? The honorable Mr. Dial being involved with law
enforcement as a defendant in a criminal proceeding is unthinkable! Clearly his grand plan is to move forward, bringing his faithful Grifco shareholders along, as CEO of our new company, Universal. This Master Plan has been explained repeatedly both at the shareholder's meeting and in print. Must I explain it all again?
Universal will be a fully reporting public company. After the share exchange, which I imagine will only be somewhere between 100 to 1000 for 1, Universal will be free to pursue the AMEX listing that everyone has wanted so badly. The patient Grifco longs will finally be rewarded with Universal shares. Universal will have a high initial share price, due to the share exchange, and easily qualify for the AMEX listing with its many subsidiary assets. Although this listing may take some time to consummate, I'm sure that Universal will publish frequent press releases to keep investors informed and enthusiastic. It will be worth it to all of us as Mr. Dial's critics watch, completely dumbfounded.
We should all agree, in spite of the severe challenges going forward, that Mr. Dial will work night and day to launch and keep control of his new public company using all his vast skill and experience. I personaly believe that Mr. Dial has had the dream of controlling a listed, reporting, public company ever since he exchanged CEO positions with John Jarvis at Grifco so long ago.
The roll-up was projected to take months but I assure you that it will move much faster now. Those spoilsports at Robinson Reed have been trying to gain control of Grifco's assets or even the valuable Coil Tubing majority stake. But Mr. Dial has cleverly delayed the Robinson Reed proceedings by using the mercenaries from Avondale Capital Partners to ensnare Robinson Reed in their own trap. By the time the dust settles my friends, Grifco's assets will be out of reach since Universal is shielded from Grifco's liabilities (just as Grifco is shielded from Universal's liabilities) and, for the moment, Universal is a private company.
I'm sure that many Grifco investors and commentators, such as our own "Dr. Bill", will follow Jim Dial's actions with amazement as he moves into his new OTC company and promotes it to the eager public. Just imagine our reaction to a new crop of investors anxiously buying shares in Mr. Dial's grand new venture.
Oil and Gas; what rare genius to recognize the undeniable attraction of this scarce but essential raw material. I'm sure that Universal will be a hit with investors. Only old fashioned, boring, Nevada corporations still have "gold" or "diamonds" in their company's name.
best2 (posting in a facetious ode to the silent one - LOL)
elcheepo1 "if the gas takes off"
It will be fine for UERI, the developer of the leases. UERI is not GFCI and you notice that the GFCI stock price is not responding to the gas well news.
Grifco and UERI may someday engage in a share exchange and GFCI shareholders will be entitled to Universal's stock at some unknown ratio. Jim Dial will make the call on whether you get 1 share of UERI for every 1, or 100, or 1000, or 10000 (etc.) shares of GFCI. This is, IMO, the typical pink reverse split into a new shell with a new symbol, new story, and a higher stock price. Here's the way the GFCI share exchange is described in the GFCI/TTII merger agreement, article III:
"(b) CONVERSION OF GRIFCO BUSINESSES CAPITAL STOCK. Each share of GRIFCO Common Stock issued and outstanding immediately prior to the Effective Time of the Merger shall be converted into the requisite amount of shares of the TTI Merger-Sub's Common Stock (which is the Surviving Corporation) based upon a "fairness valuation formula" (the "FVF") to be determined by the shareholders of GRIFCO for the GRIFCO businesses on an "all or none basis"; provided, however, if the shareholders of GRIFCO fail to agree upon a FVF within 120 days of this Agreement then in said event any dissenter's rights with respect to the proposed merger and plan of reorganization shall be governed by Nevada Revised Statutes, Chapter 92A et seq."
________________
Earlier in the TTII 14A filing, the "shareholders of GRIFCO" is explained to be Majority Shareholders of Grifco International, Inc., a Nevada corporation run by Jim Dial - he determines the FVF.
best2
Dr. Bill it's only warrants to convert
They don't cost you a dime unless you decide to convert them into "drilling participation shares" at 20¢, 30¢ etc.
Why is Grifco restricting the warrant distribution to "shareholders of record" and asking for faxes? Why not "trap the shorts" by using a warrant distribution to all shareholders, forcing these (possibly imaginary) shorts to cover?
Four possible reasons come to mind:
1) The warrants are such a good deal that only loyal shareholders and insiders who have certificates will get in on it. Isn't UERI with 56.5 million shares a "shareholder of record"?
2) Grifco is so broke that they can not afford the cost of issuing warrants to all shareholders and must do it on the kitchen table.
3) If 20 million series "A" warrants were issued to all shareholders the true share count could be calculated and the dilution revealed.
4) Jim Dial's broker-dealer/proxies have shorted a gazillion shares to pay for Grifco's operations and the drilling. Grifco is concealing and protecting this position before the share exchange/RS or collapse on surrender to RR.
These are just possibilities - do you have any other suggestions?
best2
Naturalpenny posts lawsuit on RB!
He took the time and expence to get the filings and post them
http://picasaweb.google.com/naturalpenny
My take:
Grifco borrowed the money on September 1, 2005
Grifco bought Global in June-July as I recall and was doing Grifco Oil Tools Libya with Lyamec by mid-September 2005.
Amount sought: $3,366,000 on loans of $1.5 million (of which Grifco has never paid a dime).
Though the notes were "convertible" RR is seeking money only.
Andy Baum of Avondale Capital Partners set the deal up and negotiated "specific deal points", whatever that means. RR alleged, among other things, that Andy violated section 10b of the securities act and rule10b-5 "based upon representations regarding the business operations and financial condition of Grifco".
Grifco claims the loan:
"contains "toxic" financing conditions commonly used by off-shore hedge funds with small undercapitalized companies like defendant"
and evidence of this is in the loan agreement.
Since this involves Federal law, 28 U.S.C. 1331, Grifco has had the case moved to Federal court. I have no idea whether Grifco has a valid argument but it seems clear to me that Jim Dial signed a toxic financing agreement. He claims Grifco was also "victimized" in the securities Act fraud alleged against "Baum and other agents who helped negotiate the Grifco loan". Grifco will challenge on that basis + the toxic nature of the loan. If I'm reading this properly Grifco will try to pin it all on Andy and his chums and is trying to welch on the loan (or get the judgment reduced).
That's my opinion - what's yours?
best2
OT Printmail01, the Caped Rotadendron
"or some plant from a hedge fund"
LOL
best2
PACK UP ALL MY CARES AND WOES,
TAKE MY LOSS, HERE I GO,
BYE, BYE, GRIFCO.
WHERE ANOTHER WAITS FOR ME,
BUY THEIR STOCK, GUESS I'LL SEE,
BYE, BYE, GRIFCO
NO ONE HERE CAN SEEM TO UNDERSTAND ME,
OH, WHAT HARD LUCK STORIES JIMMY HANDS ME.
TOOK MY LOSS AND GOT OUT LITE,
I'VE BEEN GONE SINCE LAST NIGHT,
GRIFCO, BYE, BYE.
GOOD LUCK TO ALL
best2
Print, couldn't have been RG Raymond
of American Finance Corp? On September 18th, 2006 he said about the criteria for a mutually acceptable, and successful relationship:
"Transparency is a requirement for all concerned, and especially for our future partners."
LOL
best2
Yes, but was it a Holiday Inn Select? EOM
BBB, Could be that the Capstone deal
is a debt consolidation move for Grifco. Better terms from Capstone to pay off for all the other outstanding creditors including Robinson Reed Inc.
This would made good business sense - but Grifco hasn't said anything, as usual.
As I read it at the moment, Grifco can sell products through the Libyan free trade zone before completing the facility there. Lyamec has not been squawking lately in one of their beat-up-Jim-Dial PRs so maybe they're OK with this. They have a seat on the Global board and may be hoping to get control of the whole company.
JMHO
best2
BBB, let's make a list of financiers
1) American Finance Corp. entered an agreement with Grifco which included at least the $800,000 Global Oil Tools debt.
2) "Credit enhancement" aded by Lyamec to pay off Whitney National Bank, I assume there was another credit deal.
3) Robinson Reed, Inc. now suing Grifco over a financial deal.
4) The new deal with Capstone.
5) The TTII merger deal which apparently includes a pending $25 million shelf registration according to TreeTop.
(no Trans Global or Nutmeg since they are probably outsiders)
Have I forgotten any ?
best2
No doubt Grifco's bulls have courage
in the face of heavy losses. They fight for their investment's value but Jim Dial has put bags over their heads with no disclosure from Grifco and he only gives them "forward looking" ammunition for their war. The following is only my opinion and I might be way off.
Sure, as you say, useful products are manufactured and sold. I think that the companies that make Grifco's products are all subsidiaries that can be "rolled-up" into TIT, "spun-off" as independent operating companies, or sold off to satisfy Grifco's creditors. In America you can work for three different employers, one after the other, and never leave the same desk in the same building.
Coil Tubing Technology Inc. already trades under it's own symbol - Grifco owns most of the shares but can't register them. A letter of intent "to enter into a share exchange" is pending through TreeTop as "Coil Tubing Technology Group, Inc."
Global Oil Tools is still a registered corporation, in good standing, with Jim Dial as president:
http://www.sos.louisiana.gov/cgibin?rqstyp=crpdtlC&rqsdta=32510300D
Global Oil Tools was losing money & in debt when Grifco acquired the assets (with "help" from American Finance Corp.):
http://www.send2press.com/newswire/2005-11-1101-002B.shtml
"American Finance Corp. (www.americanfinanceco.com) announces that it has finalized its agreement with Grifco International (Pink Sheets: GFCI) on Global Oil Tools' outstanding liabilities totaling approximately $800,000.00 USD. Terms of the agreement include the release of Global Oil Tools' assets to Grifco International currently held by two Louisiana banking institutions."
___________________
"Ko-Vac is a Grifco subsidiary located in Lafayette, LA."
I think of these companies as trading cards - the owners change but the manufacturing grinds forward.
best2
Trinityz1 you may be right
I gave Grifco a good bash on RB but it's getting too easy to bait the longs. I'm starting to feel guilty, almost like someone who mocks the athletes in the Special Olympics.
Tag, you're it.
best2
Hold to Zero?
If you like the economic form of sado-masochistic abuse then Grifco is a great stock to hold. The odds favor a continuing price trend so the rewards that you crave are almost in reach - that big, strong, muscular down trend has dominated the Grifco chart!
Think of the tales you can tell (sounds better with a lisp) - "their plans seemed so bold" - "I was enthralled by the possibilities" - "They had a plan to trap the shorts" - "those nasty hedge funds..." - "How can the government let them..." - "I don't know why I decided to buy more..." etc.
Come-on Jim Dial, your shareholders contemplate zero so give them the satisfaction they seek - but slowly master, slowly. You know how they like it, just like Litfiber, GoHealthMD, and the others...
Feeling like a voyeur in the house of pain
best2
Strongus, You call the bottoms, I'll call the tops
and we both might make some money.
best2
Link to suit Info.
http://iapps.courts.state.ny.us/webcivil/FCASSearch?param=P
To search for the case, enter the site, check the "defendant" box, and type "Grifco"
The first appearance was adjourned 01/19/2007
Next appearance date: 02/01/2007
the link to motion 001 gives you:
Court: New York Civil Supreme
Index Number: 604288/2006
Case Name: ROBINSON REED, INC. vs. GRIFCO INTERNATIONAL
Track: Standard
_____________________
relief sought : Money Judgment
best2
Strongus, Time to take that 65% profit
Maybe a "paid pump" will rat when his check bounces EM
Trinity, Sorry about my misunderstanding
First I heard of the case was over on RB. Nobody's posting any information about the suit except for the header information on the case file.
I latched on to the "when" word and misunderstood you post. Is the change in venue also a speculation on your part or have I missed some other facts?
People post their opinions here but nobody can make you sell or buy. As for "the same old things", the headlines of Grifco's PRs is a list of failures to execute their plans. So here we are below a nickel.
Good luck with this one
best2
Trinityz, Do you know any of the particulars?
Grifco is the defendant. I notice that you say "...when the settlement is in GFCI's favor", so do you have any details?
"Of course, no one bothered to post just WHO moved the case into Federal court, there's just a lot of negative assumptions with the news delivered about GFCI."
The lawsuit delivery was prejudicial on RB to say the least.
I'm one of the ones making assumptions and I've been assuming that the lawsuit concerns a PIPE - because of the nature of Robinson Reed's business.
Was there a change of venue and did Grifco request the change?
best2
Guess we have differing perspectives
and there's nothing wrong with that. I like a short term profit and you like the longer term possibilities. I admire your timing on the buys, seems you have hit the lows very well.
I still think the 200 day EMA is the ceiling on all "forward looking" news and it would take something BIG to break out.
but that's just my opinion
best2
Strongus, the trick is to sell
when the price increases and buy back later when the price falls. You must trade Grifco to make money because Grifco has always, always, always traded below it's 200 day EMA and only rises rarely to "kiss the line". To make a profit from Grifco, sell when that happens. History says that you can always, always, always buy back later at a lower price.
Sure, this picture could change if Grifco makes good on ONE of their big "forward looking" plans - but they haven't yet!
best2
Strongus, just wondered if you trade
GFCI as opposed to buy & hold, average down, or some other accumulation strategy. Sadly the significant POPs have been few and Grifco's press releases now seem completely discounted by the market.
Jim Dial needs to finish the merger, R/S into Universal, and start again. Universal will show on Edgar as TTII's new reincarnation. If that happens Grifco International will slowly disappear into the old TTII filings.
best2
Com'on Dr. Bill, he may be king
but the grateful peasants are dedicating a new Arc de Triomphe to you for your prognostications and clever use of adjectives.
best2
Strongus, did you sell at the top,
or are you just holding all of your buys?
best2
Grifco dot com domain already taken EOM
Lentinman, if you try to open
Grifco.org you get the Fibershack "suspended" page so I'm assuming that Fibershack is the Grifco host and Grifco did not pay their bill.
http://www.grifco.org
The $8.99 hosting deal that Fibershack is offering could be a come on, as you suggest. Last I heard the young man who was responsible for Trans Global Funding and Pittboss web marketing (Jarvis associated companies) is going to Iraq.
best2
Fibershack is up; Grifco.org is still down
http://www.fibershack.net/
Business web hosting starting at $8.99/month. You could look at this expense as ~150 shares of GFCI/Month.
best2
Bill, "they're not doing any merger"
Why not, isn't a reverse menger and reverse split standard practice? Change the name and flog a fresh group of shareholders!
You never know, Grifco has assets - should be interesting.
best2
Print, what value would the faxes have with names?
"Plus as I stated he faxes have 0.00 value w/o the name on them"
The faxes should have had names and GFCI shares - nothing else as per my last post. Yes11 & J.D. warned about shareholders contacting the SEC and JD was still fearful of a control group judging from the meeting notice.
best2
OK, My fault - here some posts from RB
that may be pertinent. Mrdmrd - you are correct, Laser always wanted to insure privacy for acount numbers & etc. but needed names for the SEC.
_______________
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=14982
"You can black sharpie the account number for your privacy because the SEC will just use your name at ameritrade."
_______________
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=15017
"I have been digging into our rights as well. We have the right to ask for a shareholder meeting and elect a BOD. At that meeting, we can ask to see (requesting it early) the financials, share count, who owns what and anything else pertaining to the company. Those are our rights -EVEN in a pink sheet stock. "
____________
Danger, shareholders taking action! It was Yes11NY, not BBB as I thought (sorry BBB), who changed the direction of the information from the SEC to Jim Dial in RB post 15039:
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=15039
"Visx I have been in touch with management. Let me say that Jim Dial does not support in any way the direct contact, by any stock holder with the sec. To do so could cause a cease and desist order to be issued by the sec, or an investigation, that could cause a halting of the trading in Grifco's stock. This could also slow down the completing of the buy out negotiations that are on going of Gfci the company. This could also delay are cause not to happen the spin off of ctbg. Management supports your efforts to get all the data that may prove illegal short sales, but this data should be presented to Grifco's attorneys, and then presented to the DTC, which in turn will enforce that ameratrade are any other brokerage firm, correct any discrepencies."
____________
RB 15106 Laser (in spite of resistance from Snoozer et.al.)
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=15165
"Summary: We need to work this Jim's way. None of us want the SEC to stand in the way of us getting our CTBG shares and impede the negotiation process of any buyout op. We need to fax our statements (black out the account Number) to GFCI's office 1-936-788-6667. They will pool them together and send them to the SEC attny who will work with the DTC to make those who are holding a naked position poney up."
____________
RB 15109 Laser
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=15109
"I understand that people do not want to give Jim D. any more slack. But, I am wanting to get this figured out asap. Please send your info into GFCI. We can give him a short timeframe to act on this. But we need to give him this one shot to do the right thing for shareholders. If nothing comes of it, I personally promise to take care of it myself."
____________
best2
Lintinman, just goes to show my memory is cloudy
thank you for searching the posts here.
As I recall, BBB had accumulated share counts on a voluntary basis (trusting the figures provided by shareholders) since December of 2005. In June the anti was upped to faxed information. This was to be used for the SEC to prove a naked short problem at TDAmeritrade (RB 14983). Not surprisingly, TDAmeritrade put restrictions on Grifco trades later on. Somehow the faxed information was either presented in a meeting with Jim Dial or faxed directly to Dim Dial. I was under the impression that BBB was involved in the fax campaign or presented share counts with Laser at the meeting. BBB and Laser had to sign a NDA at this meeting.
Have I got my facts straight (at last) and does anyone else remember GFCI holdings faxed directly to Jim Dial?
best2
Site upgrades usually don't take this long
Forgot to pay a bill? The service provider will usually give you 2 weeks.
Thanks Lentinman
I didn't put enough effort into the search / couldn't figure out how to find BBB's posts about the faxes. All I came up with were "sharecounts".
R.B. 15118 = Faxing instructions June 23,2006 from Visxlaserman.
best2
Printmail, who asked for faxes?
As I recall, either BBB, Laser, or both was asking for faxed GFCI holdings statements from GFCI holders but I can’t find the posts. Have they been removed?
best2
"You go back, Jack, do it again
Wheel turning round and round"
Basic Pink Business Program (Simplified version)
10 rem: the asset provider
20 sign new assets deal
30 change shell name
40 R.S. stock
50 on R.S. go to 100
60 dispose assets
70 clean shell
80 goto 20
100 rem: milk the market
200 promote prospects
300 sell stock
400 bank $
500 check stock price
600 if stock price > 1¢ goto 200
700 goto 60
best2