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Well if a stock goes from $2 to $0.0006 what else do you need to realize IT'S a dog. If you "due diligence" makes you blissfully optimistic, something is really wrong with your due diligence. Went up 4 fold..LOL, since your post couple a days ago it went back down 4 fold. Even at the "4 fold" price it is still a fraction of a fraction of a fraction of it's original value. The transaction cost would be more than the cost of 15,000 shares of GFCI.
All it takes to amend the annual list is to fill out a form and put a name on it. Who knows, maybe Leonetti put JD's name on the form and sent it into NV SOS unbeknown to JD. Maybe Grifco is just abandonded and Leonetti just wanted to take his name off to distance himself from any future liability/prosecution.
Obviously JD wants to be very low key about it.
zagdad, I get it directly from the Neveda Secretary of state filing. Jim Dial is clearly listed as the officer(s) of the comany. Back when the last PR came out it was all listed as Eric Leonetti.
Furthermore, if you go to the DETAIL under "13 actions/amendments" you can see on July 22 an annual list was filed. This was clearly when the name of officers was changed from Jim Dial to Eric Leonetti. On September 24 another annual list was filed. This was clearly when everything reverted back to Jim Dial. Currently Jim Dial is the registered officer of the company.
State of Neveda requires an annual list to be filed once a year naming the officers of the company. It was filed 3x this past year. One is the mandatory update, second a changeover to EC. The latest to change it back to JD.
Eric Leonetti dumped GFCI and gave it back to Jim Dial. I guess that court thing really bothered him...LOL, what a circus.
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=6hzmvzzd6spu%252fyDc19Yrsw%253d%253d
You guys ever try to find SEC insiders on Linkedin (business network)? I'm sure if you contract them direct you'll get a response or at least directed to someone that will actually speak with you.
Here are a few names:
http://www.linkedin.com/in/jmohney
http://www.linkedin.com/pub/0/708/ba3
http://www.linkedin.com/pub/6/18b/719
Craig Carlson
Branch Chief at U.S. Securities and Exchange Commission
Location: Greater Chicago Area
Industry: Accounting
Current: Branch Chief at U.S. Securities and Exchange Commission ; Branch Chief at Securities and Exchange Commission, Division of Enforcement, Chicago IL
http://www.linkedin.com/pub/2/808/697
Marc Wheat: Counsel to Commissioner Casey at US Securities and Exchange Commission
http://www.linkedin.com/in/marcwheat
what happens in court won't matter. GFCI isn't goig to come back from the dead. As I understand their phone service is disconnected. Maybe the new CEO switched it so he doesn't have to field calls about the current issues. It's pretty hard to have a business with an unlisted number.
Grifco will more than likely change its name and operating as something else. The new CEO will come up with a new scam, do a reverse split to raise the pps and start the P & D scam all over again just the same way he exploited Trophy energy. Typical fate for a pinkie company.
And Grifco is back down 50% on $3.60 worth of trade LOL.
What does the chart say now? I see a commode-bottom-wipe & flush formation. Watch out for the skid marks and don't eat yellow snow. Of course I haven't pulled out the 50 indicators to confirm the action. However, the RSI indicates Grifco is DOA and the B.S. indicator is off the chart.
Victory is like Grifco 2-3 years ago except the CEO is dumb enough to make SEC filings exposing the fraud. There are even the same type of pumpers. The message board for VYEY is like Grifco's message board 2-3 years ago. I get called plenty of names over there. I really hate to see another JD like success story considering that the CEO of Victory, who is JD's pupil, is using Grifco's P & D game plan.
who cares about a percentage gain - I care about dollars baby real dollars! 50% gain only translates to only about $12 based on yesterady's volume. That's assuming you were the only one making the trade.
Celebrate the $12 gain.
up 50% on $76 worth of trade. Yipeeeeee!
Cynicism?? LOL, do you think throwing up every indicator available on Stockcharts.com is suppose to impress?
You think Grifco is primed for a breakout. You've convinced yourself with a colorful chart filled with 11 trendlines and 20 indicators. If it works on GE it must work on GFCI.PK. Good luck with your investment.
Just enjoy yourself buying up all the cheap shares you can. Like you said it's bottomed and primed for a breakout. Mortgage the house, borrow from relatives and buy all you can. Obviously you're on a different plane when it comes to Grifco.
everybody is familiar with the NV SOS link but thanks for posting.
well, you don't seem to grasp the history of this company. Authorized shares is just the number of shares that CAN be issued. It is not the number of shares that are actually issued. The Board (in this case it's one individual) can change the A/S by a simple vote (in this case one vote). About 2 years ago they went from 200MM to 400MM. Again, in pinkie land none of that matters. Grifco could just as well have 1 billion shares.
As much as people got burned by this stock, nobody is going to be buying into any PR hype. Many people lost more than what was invested in GFCI. In fact, some people had their 401K/brokerage accounts wiped out as a result of this company. There is no play here. It's dead. kaput.
If you're part of Leonetti's concerted effort to hype up this shell as new play but at least wait until he makes the name change, reverse splits, and changes the nature of the business.
FA???? There are no financials or anything mesaurable for a FA. Share structure???? Even the CEO, Transfer Agent, and DTC are clueless about shares outstanding. MOMO???? Do yo mean as in market makers??? SP doesn't matter to the "momos" because they make money on the spread whether the stock goes up or down. There only concern is liquidity - find the equilibrium between buyers and sellers.
If you understand what TA measures, you wonldn't even bring up the conversation in the pinkie world. Pinkie world is the wild west of investing - it is virtually lawless. There are no rules, no stability, and no ethics. There are no 3rd party assurances provided by an Independ Audit, There are no checks and balances provided by an indpendent board, or due diligence by a professinal highly trained analyst. No institutional play or support by wall street. No institutional interest or smartmoney. The trendline in a pinkie chart is just a random reaction to phony PRs, P & D minipulation, and message board rumours. The PR effect for Grifco is dead because 99.9% of the people familiar with it isn't going to react to the P & D PRs anymore.
Charting Grifco is like trying to plot a forward path of a crumpled paper in a storm.
To all this you want to apply the same charting attributes as Microsoft, IBM, and GE???? Makes absolutely no sense.
LOL, we've already gone thrugh the chart wizardly with penny stocks. As I recall, there were people talking about patterns, bottom and reversal when GFCI was trading at $0.14. Guess what, it's $0.0005 now.
you can't use TA on a penny stock. The, fundamentals, nature and extent of forces the drive a pennystock is totally different didn't mainstream stocks.
CTBG's attorney is trying to protect CTBG. Interest of the GFCI shareholders, once that are forced to cover shares aren't their concern. If it was, Jerry would have issued some shares to resolve the matter.
It's about time SH take a proactive action instead of just being victims.
If theere were serious doubts about the distribution the distribution shouldn't have been approved or the stock shouldn't have been tradable. As it stands someone is making big profits off the shortfall by selling CTBG to those looking to cover.
In substance it's as if those who sold CTBG shorted the shares and are now forced to cover the short postion. As I recall it's illegal to short a pennystock.
Soemone in the chain of distribution is responsible for gross negligence which have caused a lot of innocent people to experience financial & psychological distress.
Either the DTC, Transferonlie, and GFCI should pay for damages beyond the financial loss. I would think there would be a law firm specializing in class action that wuld take on this case considering DTC and certain brokers are involved.
They can also pursue a civil/criminal action against JD for numerous breach of responsibility as CEO of Grifco starting with issue himself millions of shares and supervoting shares to unilaterally take over the company. Then his losing of GOTL and GOT, using GFCI assets to acquire gas wells. List goes on.
I think JD would look rather good in orange don't you?
http://www.scavengeinc.com/images/charades/1421n.jpg
I wonder if they make these in size S & D (short & dumpy).
Unfortunately, I have a margin account which makes it easier for them to get their money back if push come to shove. I'm sure somewhere in the fine print there is something stating they can do such thing. However, none of the brokerages had taken anything out of my account nor sent me any nastygrams about doing such thing (knock on wood).
I understand the amount would be in dispute. The point to remember though is that Grifco could settle the discrepency far more efficently than trying to buy 17 million shares in the open market. I'm sure the latter would be great for current CTBG shareholders.
Grifco can take the average daily value or use the current value of CTBG (although there is room for manipulation to get that amount to the lowest amount possible by JD). However, this is what most companies do on a stock dividend/merger/acquisition etc. A fractional amount is usually paid out in cash. Since JD is the majority shareholder, he can decide on the method of settlement although he would still have to be reasonable in his approach.
All the above is academic anyways because #1 Grifco doesn't have the resources (cash) and #2 JD is a crook so he would probably run off to Mexico than to set things right for the shareholders.
Of course this is based on the far fetched assumption that JD even had $450K to start with. However, according to his many hyped PRs and RG Raymond, this would have been a drop in the bucket.
smartest thing for JD to do is to pay-out cash in lieu of dividend. CTBG was trading for around $0.025 at the time of the dividend. So any remaining dividend owed would be paid out in cash value instead of shares.
17.75MM x 0.025 = $443,750, which would be his total cost to satisfy dividend.
Contact the Houston Business chronicle and/or the local media. SEC, Harris County DA doesn't like to get embarassed, Brokerage Firms don't like bad publicity, and the people of TX, business community needs to know what a scumbag JD is. Nobody should have the misfortune of dealing with JD on any level.
so JD would much rather force the dividend recipeint to pay for the shortfall instead of his taking responsibility and buy the needed shares on the open market which would trigger a squeeze. You just can't make a pathological crook do the right thing.
Expert? it's just plain ol common sense.
What good is a $0.002 stock to a startup company? They sell 1,000,000 shares and raise $2,000. That won't even pay for all the PRs they'll be dumping in a month.
Everytime a scumbag takes over a pinkie it always starts with a reverse split and a name change. It's the same game don't you get it.
Do you really think a guy like Leonette can run the share price from $0.002 to even $0.05?
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gfci
GFCI -
formerly Trim Litfiber until 11-04
fomerly Trim a lawn until 2-04
Formerly Anova capital until 8-98
11/04 shs decreased by 1 to 20 reverse split
The reality is this. He can't start a company at a share price of $0.002. He will probably do a big reverse split to get the pps up to a more managable number. $0.50 for istance. This means that your 100,000 shares of GFCI will now be 400 shares at $0.50. This will also signficantly reduce the O/S which will give this jerk CEO the room to dump millions of shares in the market. I'm sure he will change the name of the company just like they did with LitFiber, so people won't be able to figure out the game.
With Leonett'e storied reputation this company will not last long. It looks like ol Jimmy is getting away with his crime as the new scumbag takes his place. What a disgusting bunch of people they are.
NO. It's all a ploy to keep the shareholders from taking action while JD gets his affairs in order to make his exit. I'm sure he's not losing sleep from wrecking 2 companies the past year. JD made his money.
What people here fail to realize about Global Dividends is that even if RG is withholding the payment, based on GAAP the payment would appear on Grifco's books as a receivable. SEC mandates that all public company use the accrual method of accounting. In an accural method income is not recongnized WHEN you receive payment (cash basis) it is earned when a transaction occurs and substantial portion of the transaction is completed. In this case, Grifco transferred GOT to Lyamec. The moment this occured Grifco recognized income (gain from sale of an asset). Instead of booking cash, Grifco would book a receivable.
Having said that, there is absolutely no rational reason for Lyamec to withhold the money...NONE!!!! RG made it sound like he was withholding the payment for the benefit of GFCI shareholders while Grifco gets through their "rough times". IMO, his explaination was totally B.S.!!!!
Let's assume RR received a judgement in their favor (more than likely). RR would be entitled to receive the proceeds/receivable to the extent of their judgement well ahead of the shareholders. If there are any fines, penalties, sanctions, unpaid liabilites etc....they will get paid before the shareholders.
In short everything is not so elementary. as "we will get global dividend soon..."or, "we will get paid out of SEC fair funds...". Expecting a big payout for Global, GFCI, FTXN, UERI, PDI, etc. is not very likely when you take a closer look at these failed ventures.
Stongus, that's as of 4/14 the last day there were any activity on GFCI. The bid-ask is frozen in time. There is absolutely no activity in the past 3 days. Could there be some announcement forthcoming? Perhpas by the SEC?
Nope, there are no bids or asks since Monday. (eom)
GFCI hasn't traded since April 14th. Has it been halted or delisted?
BBB, looking at the check amount is only one part of the equation. These comany has expenses and on average O & G companies make a whopping 6%. I recently saw a couple of K1s from large reuptable O & G partnership generating mid 8 figures in revenue. One is Kinder Morgan Energy Partners LP, and the other is Enbridge Energy LP. Both of these parnerships booked ordinary losses in 2007. Now, if you look at the revenue a.k.a. checks received for the year it's impressive - in the neighborhood of $40 - $50 million. Is that enough to get you to buy into the partnership????? Obviously not, because they have spent more than the "checks received" resulting in a loss.
IMO, talking about cash recipts is meanigless. What's imporant is the bottom line after all the money flowing in and out is accounted for.
What else is new? JD had alwasy been in bed with the shady characters e.g. Jarvis, Mike King, John Dolkhart etc.
When you read these PRs they make it seem SOOOO easy to make money in the O & G business. These people hype it more than the late night informercials.
mrmrd, yes that's quite possible and perhpas quite typical of this type venture. However, based on JD's history he hasn't done anything typical. Everything he has done is quite self-serving and deceptive.
Quite simply, if JD was truly trying to build value to the business he can quitely do so and PR the results instead of selling the pump. The whole VYEY scheme is pretty reminiscent of the Litfibrer-Grifco-Lone Star-UERI-1st Texas schemes. In another words they seem to be doing the same things over and over under a different name.
Proof??? Liars and crooks make an effort to not put incriminating facts out in the open. However, it doesn't take a genius to figure what's going on. It's like driving through a rural highway at night where it's pitch black. You smell a stench of livestock and you know there is a pig or a cattle farm nearby. Althugh you don't see a thing you can recognize it by the smell. Same goes for JD's shennanigans. You don't see it in black in white but you recognize the stench.
print, it's very misleading but here's what it means.
They received the revenue from the purchaser and deposited the check in the bank. This is topline revenue before any expenses, interest, and taxes are paid out. Who know's what's left, if anything, these items are paid for.
Pre-distribution = before paying out the partner of their pro-rata percentages.
Once again, Victory hasn't told you anything worthwhile.