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Right Hank. The Jan PR said they anticipate adding two new CNC machines. A few weeks later they took delivery of them. Maybe that's why BBB left out the word "anticipate". It is now an accomplished fact.
You are either showing your ignorance of how machineshops work or you chose to ignore any thing positive about GFCI. The Scott shop had 4 manual lathes prior to buying the CNCs. It is no strech to say that 2 -Computer Numerically Controlled machines could increase an all manual shop's production by a factor of 5. Additionally Scott got 2 other CNC'c from CTT's shop in Houston. The jet Motors were out sourced becuase of production demand at Scott. I expect CTT's machines wll go back to Houston as part of the spin off.
Global already has 9 CNCs and a quantity of manual equipment. The new CNC Dual machines will greatly increase their production capacity.
You made a silly remerk about them reporting automobiles and desks. Again, either your ignorance or your agenda is showing. Adding two high performance machines to a machine shop is a significant event. If one was in vested in a trucking company with 9 delivery vans and they added 2- 18 wheel tractor trailers, that would be a significat event too.
I'm sure this post is wasted on you. I'm writing for those that you may have mislead.
From Mcrough."if you stick your head up your ass I'll still be able to see you."
Len, Where does this post of Mcrough's fit into your "I love any good quality post no matter what side it is on. And, I HATE stupidity - " Statement? He was so proud of it he posted it twice. Do you think it should be pasted to the RB board?
Mcrough, I'm not going to engage in your "what if" gibberissh. However, any time I see you post a distortion, I'll expose you to the real investors on the Board.
The two CNC machines mentioned in the January '05 PR were delivered to tGrifco's shop in Scott, LA in early 2005. I know for a fact that they were in place in April.
The Dual CNC's covered by today's PR are for the Global shop in Houma, LA. Two different PRs. Two different shops. Same old distorted crap from Mc Crap.
"
Naive... ieeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
SPARK. I've got another. egotisticallllllllllllllllll
Mr. Tinman, Notice I didn't say that I thought you would be ashamed. 've read enough of your stufff to know better. I said I thought you should be ashamed.
" I don't just love negative posts." Those are the only ones I've seen you say you love, until your last post. I'm basing what I said on the time you wrote "Dr Bill, I love your negative posts"
"Most of all, I love any post that has even the appearance of objectivity!" Just curious. Do you think Mcrough's 12 or so first time ever posts fall into this category?
"Unlike you, I haven't made ANY judgements." Yes, I've made a judgement. Based on my personal knowledge, the posts of people I respect recounting their contacts with Lyamec & Grifco and the business information cleverrox posted.
If Mcgrough had an ounce of objectivity he might have tried calling the contact number Lyamec has listed and asked for their current address. Apparantly almost every one but you sees him a a basher with an agenda.
As usual, you can have the last word.
Lentiman, you ought to be ashamed! You did the bidding of basher with an agenda by posting his crap on RB. Did it occur to you that he may have been tossed from Raging Bull? What's the matter? Can't read enough bashing venon here. You have professed your love for negative GFCI posts. You proven it today, in spades.
I don't need to validate his crap. I've talked to Ray @ Lyamec. I know two people that have been in Lyamec's office and talked to Ray and Ben Gala of American Finace. I know a man that talked to Ray today. Another got an email from him. Both were invited to visit their offices.
Lyamec shows offices over half the world. I don't hink they have people manning the phones in all those places. I think they have agents in various olaces to be represented in different regions. You must know how often that is done.
In the long run we may all be duped, but you beat us to it. You were duped today by Mc Crap.
I think GFCI's profits will be higher than industry norms, mainly because many of their products are rental items. They make most of them in Company owned shops and rent them over and over. I know the revs & earnings given in the March 3rd PR have never been verified by SEC filings, but BBB isn't pulling .35% out of the air. That was about what was reported in the PR.
About the rental day rate for the Jet Motor. If it performs as advertised, it's main competition is the MacDrill. It rents for $5000 - $5500 per day. I've been told that by reliable sources in the industry. It can probably be verified with a little Googling. Again, BBB and Jim Dial didn't invent a day rate of $5000 for the Jet Motor.
About Libya. The $20mm order that has been kicked around is not for tools that will be made in the new Libya manufacturing facility. It is a "kick start" order that will be filled from products that will be made in Houma and Scott. GFCI is not a year away from starting to fill that order. Also it is a minimum order. If the Libyan National Oil Company needs GFCI /Global products in excess of $20mm , they will buy them.
American oil industry companies don't work internationally so they can make the same profit margins they can make back home. They go because of the opportunity to make larger profits.
Folks, don't sweat Dr. Bill. In my opinion he is here because he has a platform to show his brilliance. As long as people engage him and as long as he has Lentiman expressing his love for Dr Bill's negative posts, Dr Bill will be here.
I have it!!! I'll bet Dial and Swinford decided they had milked GFCI dry so they will leave it a an empty husk & start beeding CTT. And then I'll bet they dump & run and reconstitute as something like Bring Em Back Alive (BEBA.PK). They will market a process to raise the dead!
Is that negative enough I-Hub regulars? I hunger for your validation.
BBB & I are regular suporters of Grifco. Those that have paid attention may have noticed we both have oil field backgrounds. We have both let it be known that we have many contacts in the industry. 10bagger just admonished all to do DD. I don't know about BBB, but I've done a tremendous amount of DD on GFCI and I'm not talking about surfing the net. I've spent dozens of hours on the phone with friends and acquaintences of mine that are in the industry. To protect my sources, I don't report all I know, but I do feed enough to the board to encourage open minded investors. I think BB does the same.
Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
From 10bagger: "A better service to investors would be to boycott this board and make the company release information that is factual,"
You're kidding, right? Do you really believe boycotting this board will influence Dial one iota?
I can't defend GFCI's peculiar way keeping investors informed. I didn't put a lot of money in GFCI because I saw them as a slick PR outfit. I did it because I know the oil field and oil field tools GFCI is ABSOLUTELY on the right track to become a player in the industry.
10bagger, you want a boycott? You won me over. I'll not post another shred of my DD on I-Hub. I-Hub regulars can read Dr. Bill, lentiman, 10bagger, and jtomm to glean the kind info they yearn for. I'll be back to call those that make what I see as distortions. Se you on RB for real DD.
There is a very sound rationale for the spin off, IMO. There are three basic parts to the Company, Grifco, Global, CTT. There are two things that set Grifco et al apart form several other small, profitable oil tool companies. The Libya deal and CTT's technology ,which includes the Jet Motor, the RotorJet and CTT's other tools.
Libya is at least a year away from full production in the new facility. While CTT is already making money from their tool line.
Also Grifco may be struggling with their financials for a while. I think Dial has decided to cut CTT loose to let them rise to their value without being held back by the long lead time for Libya and any further delay in releasing financials.
Those of you that think Dial is making this move for nefarious reasons, flee while you still can!
This from Lyamec's PR. "The special publication by PennWell will run as a supplemental on the Oil and Gas Journal, Offshore and Oil, and Gas Financial Journal"
PennWell owns those three publications. The Oil & Gas Journal is the most important publication in the O&G industry. A very important development.
FREE BEER TODAY!!! We just don't know if we get a shot glass or a barrel full.
To me, this is a strong indicator that the Jet Motor is a success. I don't think GFCI would go to all this trouble if CTT didn't have tremendous potential. No, jtomm. I don't have any PROOF!
I was told yesterday that in consolidating all the information that will go into the PR that it was determined that the PR had to be ran by the SEC one more time and that would take up to 10 days to get a responce. I think Dial decided that he had to get some information out to the public. What we got was today's nebulous PR.
I confess. I stole the "Free Beer Next Week" line from Dr Bill
Is that any thing like a sign at a bar reading "Free Beer Tomorrow"?
Dial worked for The Brandt Company for ~ 20 years. Today The Brandt Company is part of Varco. If you're really interested go to the National Oilwwell-Varco site & do your own. DD.
Legitimate Questions = Evil Shorter?' In your case. Damned right! What legitimate investor would go to the trouble to have saved the old web site and hack into it? They wouldn't, obviously. IMO shortrs have been saving up things to trash GFCI with. The time is right so they reached into the toilet and pulled you out.
Hell yes a pink can be shorted! GFCI has been on the SHO list at least three times.
I despise slime like you. There are serious investors here that have put up their hard earned money and you come along and try and scare them out of their shares. There are others that use much the same tactics as you. But most of them are individuals that are doing their small minded bit to keep the PPS down until they are ready to get in. I have no use for them either. You, on the other hand are almostr surely paid. I have more respect for a pick ocket. They at least put their nose on the line. You sit at the safety of your computer to do your dirty work.
At least we'll be done with you in a few days.
itomm, Your job is about over time to either load up or cover your shorts. My last responce to you.
Gee Dr Bill!! Maybe you're right!!! I think I'll sell at he open. NOT!
Hide and watch.
From ito "Those are things Dial has said he's done. But there's no verification of any of that."
Do you doubt that GFCI acquired CTT and Global Oil Tools. Do you doubt that they are working with Libya to build a manufacturing plant there? These are things Dial claims.
If you doubt the PRs, what are you doing reading a pink sheet BB?
Yes. I have some feedback. There is nothing in Dial's public past to even indicate that he is a crrok or that he plans to scam investors out of their investment. No doubt, he picked the wrong shell back in November 2004.
He acquired CTT, a Company with a technology with mind boggeling potential. He acquired Global and helped put together the Lybia deal. He's opened at least two rental centers in Mexico. He has an agent in Venezuela that is running GFCI tools. These are things I know about. Global is ISO certified. They recently became API 1401 certified. One of fewer than 4 dozen manufacturers in the world with the certification.
He also has a few pwersistent gnats buzzing around an old wound tring to implant an infection in the minds of investors.
NO QUESTION!!! GFCI has serious problems with issuing financials. I'm convinced their product side is healthy. Not blind faith. Good, solid information.
Let's ask our selves a question. If you had 3/4 MM shares to dump and knew of millions of other shares heading down the shutes, would you be posting that the stock is headed to zero? What would be the motive of someone doing that? Trying to save hunmanity at his own risk?
Old Western adage. "Don't stand in front of the herd when trying to start a stampede. Stand off to the side and pick up the good stuff after the dust settles".
BBB, Please give me a call. EOM
Dr Bill, you are making some points that can't be refuted. But you are racing to a worst case scenario. Too bad you can't just make your points without using obvious distortions. You say they have only identified 3 Jet Motors as being on hire. Yet the same PR also says that the first 50 have been shipped. ShippED. Past tense. Not a Safe Harbor forward looking statement. You know this.
"From the Aug 10 PR. " The first production run of 50 Jet Motors has been shipped to clients all over the world and should be in operation, depending on the logistics of their destinations, by the end of this month. Three are currently in operation, generating $15,000 per day in revenues ($5,000 each). " It takes very negative subjectivityto assume the 50 tools were shipped to storage shelves around the world.
The July 27 PR announces the introduction of the RotorJet, another tool utilizuing CTT's technology. It too is not just a forward looking statement. It names some of the Companies that have the RotorJet.
You shouldn't allow your animus toward Jim Dial and Grifco to blemish your postings.
Dr Bill, I don't have the answeres to any of your questions. I stipulated that Grifco is incompetent at IR. Also in my previous post I stated the things I know about the Company that make me comfortible with my position. Nothing what so ever to do with blind faith.
Good luck on your continuing quest for information. You might try the Raging Bull board. Posters frequently post interesting tidbits
I'll grant incompetence at Investor Relations. But that's as far as I'll go down that path.
In less than a year Grifco has acquired Global Oil Tools and Coil Tubing Technologies. Both acquisitions were acretive. Global brought with it an ISO high production machine shop, established customers and the Libyan deal.
CTT'stechnology is at the heart of the RotorJet and the Jet Motor. both of those tools are a step forward in optimizing O&G well production. Those that understand the amazing growth of coil tubing applications recognize the potential of the technology. Maybe you don't.
There are lots of Pinks out there with slick IR and only promises to actually sell. Given a choice, I'll take Grifco, even with their IR warts.
I-Hub readers. I get the feeling you're going to be reading a LOT about in the near future about GFCI not having a CFO, missing their target date for financials, needing a COO, needing to be listed, etc. Oh yea and "we need PRs!!!" All true.
Now I'll give some reasons to hold, and even buy, GFCI. These reasons havew nothing to do with blind faith. Global Oil Tools (acquired by Grifco in July '05) has a shop in Houma, LA. It ain't much from the outside, but is equipped with 9 automated CNC lathes. These are highly efficient units that out perform manual lathes by factors of 5- 10. They have a number of automated welding bays. Their machinists are highly skilled. The shop is certified by the International Standards Organization. This is a big deal. Many companies won't accept work from shops taht aren't ISO certified.
Grifco has a smaller shop in Scott, LA. It has 4 CNC machines. Global has gotten so busy that they started shipping their overflow work to Scott. Scott hit the production wall a few weeks ago and are now sending their overflow to contract shops in Houston. These are thimgs I know. Both shops allow visitors and are good about showing them the facilities.
In Late July GFCI issued a PR stating that they had sent 22 RotorJets to the field. These are similar ti the Jet motor. On August 10 a PR announced the shipment of 50 Jet Motors to the field. These were not "we are fix'n to ship" staatements.
I don't have al the answers. I have questions of my own. But "blind faith"-- not me. I've done my homework. There is virtually no chance that Grifco is a scam. They are a small Company building by acquiring already successful companies. They have real facilities and real products.
DigiTex / GFCI. Are you sure that Dial said that QUARTERLY financials would be released late next week? Until now only FY ending 6/30/05 has been speculated on. I strongly suspect that either you misunderstood Dial or he misspoke.
Here's something fun to speculate about. If 3Q is due out late next week, wouldn't it be logical to assume FY 2005 would come out first? 3Q results will include a full quarter of Global revs plus 6 to 8 weeks of revs from the RotorJet and the Jet Motor. plus continuing revs from established operations. Dreams are made of this!
On Libya. Did you get he impression that the numbers Dial gave you were gross for the whole Grifco/ Global / Lyamec / Libya operation? Or gross from Grifco / Global's 55% of of the pie. Or net from either of the scenarios?
Thank you for calling Dial and sharing your information.
Digitex: Please go the the I-Hub G??I Board. I have a couple of queations regarding your conversation with J?m D??l. I hope this gets by the censor.
There is a post on RB about an e-mail from Dial. He is quoted as saying the reason for the delay in financials has to do with Litfiber, the shell GFCI used to go public.
I've done some reading on the old RB Litfiber board from the period just before and after the acquision. At that time there was a lot of confusion expressed about Litfiber's O/S count. That may still be an issue.
GFCI: I have Ameritrade also. I have two other pinks and none of them show bid or ask. My Amritrade streamer shows GFCI volume. I have a friend with Scottrade, They show GFCI bid / ask.
GFCI is absolutly NOT a scam. I'm sometimes mystified at mangement though. I'm the one that reported on RB that Grifco supplied the tools for a fishing job on a Helmrich & Payne drilling rig in Venezuela. They have a local agent, Serivicios Petroleos Santa Fe, that is running their tools.
Another poster on RB was recently in the Four Corners area doing safety serveys on drilling rigs. He asked several workers if they were familier with Grifc. He got a number of affirmative responces.
The Global shop in Houma. LA has overflowed their excesss work to Grifco's shop in Scott, LA. Scott has now overflowed excess work to contract shops in Houston. Global's tools are simpler and more condusive to high speed production that the two shop's CNC machines can generate. Grifco tools require more hand assembly.
IMO, Grifco is challenged in building an infrastructure to support their amazing potential, but they are NOT a scam. FWIW
Yes, it is a completely different design. But they aren't keeping it updated. That damned Jim Dial is spending way too much time growing the Company and not enough on the website!
stock peeker. Very nice post. Sorry for any ruffeled feathers.
ex-doodlebugger. Still handling jugs.
Lentiman,
txtower has made a number of posts here. It's obvious to anyone reading them that the Board is blessed with a real expert on the topic of downhole work. That's what Grifco is all about.
In the oil field World, doodlebugging is about as far away from downhole production work as you can get and jug hundlers are at the very bottom of that line of work. Roughnecks are one rung up from the bottom on the drilling industry ladder..
stock peeker asked Your expertise implies you are directly involved in drilling services; are you currently a practicing petroleum engineer? doodlebugger? ex-jug handler? ... retired roughneck? Just curious...
Let's look at it from this angle. Lets say that Lentiman had made a series of posts on investing in which it was obvious that he knew what he was talking about. Now lets say that Back2Basics posted. "Lentiman, Your expertise implies you are directly involved in investing services; are you currently a practicing financial advisor? a Wal-Mart cashier, an ex-stockclerk? ... retired janitor? Just curious...
That's why it came across a condecending to me. My last word on this.
tx, I think peeker was trying to show his oil patch savvy with his condesending post. Your question may have been rhetorical..
doodlwbugger: Any field hand working on a seismic crew.
jug hustler: slang for a seismic geo-phone is "jug". Jug hustlers place and pick up jugs.
Ryan, Some that read your question may thik it has a New Age feely good ring to it. I think it is a key question and it is better that you ased in an e-mail than in person. It probably made him think about it a little more.
I expect you know this, but many major companies ask that questin of employees under consideration for advancement. The answer is crefully evauated.
The meat in Dail's response is that he has once again telegraphed his goal of working toward a buyout, IMO.
MLD38, you are an asset to our community. Thanks for all the research you are doing.
rusty car. I should have made myself clearer. My point was that it is rediculous to think that GFCI would ship 50 Jet Motors with no one to operate them.
A poster on GFCI RB reported a conversation with Jim Dial today. He said they now have 44 employees. In the May 26 the number was given as 18. I'm sure some came from Global, but it's a good bet that some were new Motormen.
Me a basher? I own about 1% of Company.
GFCI: stock peeker, do you assume that Grifco hasn't trained or hired Jet Motor field reps becuase thy haven't issued a PR with their personnel activites? I don't ever remember reading that kind of PR from any company. Not that it's never been done, but I've never seen one.
If they are shipping 50 Motors this week and have no one to run them, we're in worse shape than I ever feared.
In the May 26 CC CEO DIAL said there were 20MM 0/S. There is speculation that ~4 million were added for the Global acquision.
Guidance of .23 -.25 eps for first half '05 was based on 20MM O/S. This guidance was in the March 3 PR.
The new Grifco website is operating. eom