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BBB wrote:
You are just far too busy splitting hairs over trivial things that can easily and very reasonably be sorted out by even the smallest smidgen measure of intelligence. I don't look for a perfectly written PR, but I do look for a PR with substance!
BBB you are increasingly sounding desperate and appear to be hanging on by a thread....
is making a mistake of 5 dollars per cubic foot vs 5 dollars per 1000 cubic feet, splitting hairs????
hypothetically speaking,
when a stock is a complete scam, the electronic brokerages realize it through their evaluation software which tracks price and volume and sometimes will pull the plug so their clients don't lose all their money to the scam....
now, does this fit grif-co?
I have a feeling the naker shorters will be at it again today
I spitcoffee on my monitor!
now THIS is f'in funny!
I was going to explain to Statstats0 how Jim Dial could have an "arm's length transaction with himself" but I refrained.
thanks best2 for the laugh!
This is really funny........
Obviously, when the tranche PR says "leases", it means to say "drill sites" and when it says "drill sites", it means to say "well sites."
Well DUH!
OBVIOUSLY!
Ok if this person cannot calculate the estimated revenue of negotiated leases, without making errors of a factor of 1000, and then cannot make the proper use of leases vs drill sites vs well sites, then how the hello do you expect him to negotiate the landscape of publicly traded companies?
You people should have taken my advice a long time ago and voted dialer out of this job. You could have used hius words about the share counts against him and taken control of the board.
At this point I would recommend a class action lawsuit for breach of fiduciary responsibility against dial and vote him out as a symbolic measure. BBB controls 30 million shares right?
If it's 63 to one, even if the one has 300 million votes you're likely to get someone's attention....
at the very least it appears as if dialer is using his own shares of your company which he voted to himself, to attain assets in his name which you may or may not be able to buy for more money later on...
of course it's highly unlikely that any of this will come true, just like evrything else he's said hsan't come true for the past 26 months, so that ought to be at least a little comforting, the pubilcly announced fleecing dialre's giving you guys is probably another fabriciation ooops I meant forward looking statement!
BB IMO your credibility just sank below dials', by a long shot.
2000 words to ATTEMPT TO DESCRIBE THE DESPICABLE ACTIONS OF THIS MANAGEMENT?
3) market makers selling shsres to each other at a lower price? COME ON. why would you sell me shares for .049 that you bought for .05 BBB? ANswer? you wouldn't. Just like a mrakte maker wouldn't sell shares down! He's there to buy low sell high just like you are.
2ndly, you left out the obvious anwer and number 4 (the sure thing)....dialer short on cash selling shares newly printed to people who liegitimately shorted this above .10 to cover, leaving retail sucker in the dust
there is no roll up merger, there is no busines plan and for the LOVE OF GOD
PLEASSE STOP REFERRING TO "NAKED" ANYTHING WHEN IT COMES TO THIS COMPANY MUCH LESS NAKED SHORTS
IT is just preposterous to read any more.
This is sick
BTW if it is naked shorting, there's nothing that can be done about it, even if management isn't complicit in the actions. If they're not, so what? it will never get oyour money back and the SEC denies it happends at all much less going to force shorty to cover.
youre smarter than that aren't you?
aren't you?
would you really buy into this company again?
johnhk,
You're welcome.
I just got yet another PM from someone, that said, "you know, I used to absolutely hate you, but I have to say thanks. I sold at .08 and thanmk goodness I did. I'm sorry you got such crap"
someone will invariably sel at .03 before it goes sub-penny and thank me for that, too....LOL
have a great one, and sleep well!
strongus. Im not sure why everyone here is so sensitive. It's just internet BS after all. But anyway, my post was a question and a guess, about whether or not BBB knew we were going to have the news.
I DID NOT ACCUSE HIM OF ANYTHING. I DIDN'T SAY BBB YOU TRADED ON ILLEGAL INSIDER INFORMATION. I DIDN'T SAY ANYTHING ACCUSATORY.
As for the trading.
I knew this was going to happen, just like I knew all along since almost the very beginning, the events that would unfold. There is no way some pie in the sky PR is going to bump this stock. They haven't mentioned the CTBG dividend in months.
This whole GFCI PENNY STOCK IS A SCAM, IMO
WOW
what a move!
LOL
Maybe the market didn't take it seriously because the CEO of a supposed oil and gas company missed his estimate by a factor of a THOUSAND!!!
The really sad thing, is going to be the price move when the people who bought in anticipation of this press release start realizing that it won't move and start to dump the several million shares they bought over the last week, to flip.
Oh they'll flip alright, but this one will be lower.
BBB, tell the truth, did you guys know about the PR DUE yesterday after the market close?
I'm guessing since that when dialre still liked me he told me every time there was news out, that you knew a week ago what and when it was coming......
Hmmmmmm?
lentimon,
would you please for the sake of time and energy here, please define what you consider to be a personal attack?
Because to me it seems like you just randomly pull my posts along with a few others just to make it seem fair, just because they hit too close to home, so to speak, i.e. that they might offend someone.
thanks
Perhaps the best indication that this stock is going to move higher can be taken from the fact that I am actively posting here.
your majesty, I just vomited on my keyboard
PLEASE! DON'T ANYONE FALL FOR THIS SCHEME DONE BY SCAMMERS
this board and the raging bull board are full of people desperate to get the stock price higher so that they can sell and be done with this misadventure.
This companu has been promising millions upon millions for months, and if you're new here due to the huge PR touting hundreds of millions of dollars in gas leases, PLEASE don't get sucked in.
I will be available to take all e-mails at BLTIMAN@YAHOODOTCOM or phone calls at my number which will be provided on an email to the above address
there are several people who got suckered into buying millions of shares and are now down like 90% from their purchase and want to pump pump to get the price higher so they can sell....
heres a long time long from RB:
n additional $47 million asset and a market cap of ~$2 million but wait, there's MORE! don't forget the CTT spin-off! I can feel the market enthusiasm building!
Anyway, I get to unload (I hope)
please dont buy this POC
besides the fact that this is in all likelihood another of jim dials forward looking statements, made in order to facilitate yet another dump of a few million shares to feed him and his lawyers...
declining share price through another support level? check
a few pumping Pr's that don't make much sense? check
announce a share buyback? check
give a widly optimistic pr about a new business segment that they haven't yet antered? CHECK AND DOUBLE CHECK!
A 6 MILLION SHARE DAY WITH NO PRICE MOVEMENT EXCEPT DOWN?
CHECKEROOOOOOO!
LOL
this is unreal
everyone raise their hands if they'd sell in a heartbeat if it hit .17 again.....
see?
it's never going above .08 again, without a reverse split that is
Srongus
you're saying that grifco is buying a 5 million block as per the announcement on Monday
then on Wednesday, before they possibly could have made a dent in that buyback, then they're going to announce a 400 Billion dollar contract? SOrry a 400 Billion dolalr PROFIT contract?
Why not wait until the buyback is done and increase the treasury shares they've just bought, along with the rest???
WHy not get L.O.C. for a million bucks (I mean what's a million compared to 400 BILLION DOLLARS in proven reserves, right stroingus?) and buyback HALF THE COMPANY????
Strongus, I don't know you, and if you're buying this next load of BS I'm not sure why you would even mention your opnion of my credibility (matters not to me if you're on board with a ridiculous PR like this) but come on man, use your head.
20 million percent return on a stock investment? Geeze
right stongues
it's the market's best kept secret, 24 million percent and you figured it out!
ssshhhhhhhh
except the market strongly disagrees with you
this is worse than when BBB calculated the enterprose value of only the CTT subsidiary at a BILLION DOLLARS. At least that was only a rookie stock market naif, this is suposedly the CEO of a public company, for gosh sakes
another thing besides the absolute idiocy of making such a statement, is that the BOD supposedly only authorized 5 million shares, now it's 25. Does Jim Dial even remember the last fake PR he put out? I mean it was only 2 days ago, geeze.
Then there's the fact that if any company were sitting on a contract that even remotely possibly could be worth even a few times their value in profits they would rapidly arrange a private buyout of all the shares.
Think about it.
39 million shares (lie) out standing with only 4 million in the float (lie) and they are going to make hundreds of millions of profits, and could remotely prove it to anyone (where's j paul getty when you need him lol) they would be offering $10 per share for the float and get it weasily (fruedian slip of the fingers there) and score a major short squeeze to boot..
these guys?
nah the shareholders of record have proven themselves gullible enough that just a preposterous number like 106 Billion will get the stars going in their eyes....
ridiculous
funny best2,
I said the exact same thing about 18 months ago, about the grift-co comment and was lambasted as a sore-tooth whiner, with nothing positive to say, then the board poet came on board and quickly becamse everyone's hero
this man must think that we're all complete morons
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
CONROE, Texas--(BUSINESS WIRE)--Grifco International, Inc. (OTC Pinksheets GFCI) announced today the exercise of its option for 100% of the working interest ("WI") and 75% of the Net Royalty Interest in 208 gas leases located in the Permian Basin geologic formation in Crockett County, Texas. The Permian Basin is the 6th largest known producing, proven and probable recoverable hydrocarbon basin in the world--larger than the North Slope Alaska USA.
Under the terms of the option, the Company will begin spudding on 7 drill sites in the next 30 days. Each drill site will take approximately 2 weeks to complete. It will take another 2-3 weeks for commercial production.
The proven reserves of gas in the 208 drill sites are 109 billion cubic feet based upon an expert geologist report. The closing price of gas on the New York Mercantile Exchange as of December 8, 2006 was $7.56 per cubic foot of gas. Cost of the option, drilling and production costs is estimated at $1.75 per cubic foot.
There are five different pay zones with the first 6 wells targeted in the shallow pay zone at 5,000 ft. Other pay zones are located in the geologic formations composed of San Andres; Canyon Sandstone; Pennsylvanian Strawn Limestone; and Ordovician Ellenburger Dolomite. The cost of drilling in deeper pay zones is higher than in shallow zones.
The net proceeds from the 7 drill sites will be used by the Company to expand drilling operations to the remaining 208 drill sites and to finance the repurchase up to 25,000,000 of its shares in the public market place.
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
75% * (7.56-1.75) * 109,000,000,000= $474,967,500,000!
That's four hundred Billion in profits! All for the low low price of just $1,950,000
thats a return of 243573 or about 24 million percent!!!
WHOOOOOOO HOOOOOOOOOOO
Like I said, he must think we're all freaking daft
6 million plus shares traded today with 20 minutes left to fly.
My guess is that with all his statements of fact that are really just guesses and suppositions, and the unsupported information, that he might have been doing a little prepping the masses to be buying his shares as he dumped...
it's just my guess, and not any kind of attack at all mr moderator,
that BBB is going "everything's GGGGGGGGGRRRRRRRRRRRRReat!" (sell button) "this G.O.T. in Libya going to make MINTS of MONEYYYYY" (sell button) "LYAMEC MUST REALLY BE ON THE BALL TO BE GETTING THESE THINGS PAST THE LIBYAN GOVT" (sell button) " a NEW CHINA SELL ORDER PA I KNOW FOR A FACT THAT THEY ARE SELLING TOOLS IN CHINA JUST DON"T ASK ME HOW I KNOW!!!" (sell half a million all at once)
LOL
BBB wrote:
I find today's PR to be rather encouraging, because it means that in addition to the solid revenue and income that we can rest assured is coming from GOT, Grifco Scott is putting out its own fair share. In light of all this, especially when considering the fact that it also has the Ko-Vac subsidiary doing business, we can confidently look on ahead to far better days.
I'm sure, that since you're putting your reputation on the line with such statements of fact, that you're absolutely willing to share with the board the source for this information you're sharing in this post.
Solid revenue and income - deserves a source, doesn't it? Income? Solid revenue? Please provide proof or qualify as a pure "d" guess or worse yet a pump...
Scott is putting out its own fair share - also deserves a source IMO. Thanks for clarifying that, BBB.
it (Scott? GOT?)also has the Ko-Vac subsidiary doing business- also deserves its own reference, as having proof of fact, or qualifying it as a guess, conjecture, or pump, thanks again
well the lybian government just cut your hundred$ of million$ (sic) profit potential in half, with a new proclamation
sure hope those gas leases pay off. Oh yeah that's right dial owns them himself....
ROTFLMAO
tampa?
trading sincerely into the 4's today, just a few weeks after the shareholder meeting...........right?
smart guy that dr bill!
knows how to make money in the market i guess eh? at least not to lose it, right?
LOL
You must wonder why Grifco, if it's a money losing scam, would move into a reporting shell.
I guess if they were going to move into a reporting shell, then I would wonder....but since they're not going to be moving anywhere, especially into a reporting company, then there's no wonder. Think about it....any audit would prove dialres llies once and for all. Then he's open to malpratice suits, malfeasance suits, securities suits, fraud suits.
This way he's just made some forward looking statements that haven't come to pass. Share counts? he made just about the right amount of hints to get shareholders to fool themselves into thinsing they knew what he thought he said....
they aren't going anywhere near a reporting company, and if they do, tis going to be a revers lerger with middle finger flying like jarvie gave the litfiber peeeps Nov 2004....new ceo, reverse split and wer're selling our hundred million dollar oil tool business to roll up into the gas leases bizz
this one's going nowhere near AMEX peple. Think about it, even with a TITI audit the girfco/coil tubing mess cannnot be audited, right? Bed shell begat bad shell begat bad shell
"Im sorry but it's just out of our hands.............."
outstanding shares slightly less than 56 million, yet BBB and his cronies claim to own more than 30 million themselves?
must be naked shorts!
or someone's lying
Please exaplain to me why there aren't any releases from dialer for the transfer agent to tell us exactly how many shares have been printed and sold?
cleverrox
where did you come up with this awesome biotech stock play, if I might ask?
is it by any chance a little company called zonagen ne repros therapeutics?
cyo, there is no way that the issuance of shares to dialer himself, so that he can own oil and gas leases, fits intot he fiduciary responsibility box. Even if he is the majority shareholder himself and can vote himself all the shares he wants, it doesn't fit the majority of shareholders best interest.
And in the end what does it matter anyways. 90% of the people who got scammed by this scheme from the beginning will be either too apathetic, too embarassed or not savvy enough to know how to pursue this in a legal venue. I konw that there are some people who are threatening legal action if this doesn't go through the way that dialer said it will but even of those people threatening only about 50% will actually take one single action, much less follow it for the years that it will take to get any kind of legal action at all, and then if there is found to be any kindof breach, there won't be any form of resitution for years, if at all, and the it will be pannies on the dollar if it's even collectible, and the lawyers will get mose of it.
These people don't seem to get it, that the money's gone even if dialer is proven outright to have lied about the share counts. Gone is gone.
Three great questions from RB:
1.) Have the Grifco stockholders rights been violated???
2.) Is this transaction legal???
3.) Will the SEC approve such a unusual transaction???
1)Absolutely
2)No way in Hell
3)Probably not
Here's a 4th question and the most pertinent, and in fact rendering all other talk and or questions moot and useless:
4)Will any of this get even a little of your money back? Even a remote prayer?
4)not a chance in Hades....
The fact is, that still, to this day, the fact that Jim Dial will NOT allow the transfer agent to verify the share count to any outside person or entity, is the telling factor. If he doesn't know, then that means it likely that there's hundreds of millions of shares printed, and sold to the public, to either enrich him or someone else, or to prop up cash flow in a failing business. If he simply doesn't want the information to get out, then the same resons apply.
I also liked when BBB bascially admitted that he guessing about all of this "investment" and is basically gamblimg with his money. And feel very sorry for all the people who have mistaken his flowery prose for financial knowledge.
are you high?
3.78 million shares traded, on a close of .057
something like 5 times that 30 day average volume today
this defines pump and dump, and you cal it screwy
the caliber of intelligence surrounding this stock just amazes me. it's no wonder dialer gets away with this stuff
Another BS share buyback PR from the one man B.O.D!
What happened to the 25 million you were supposed to buy last year? Oh yeah that was BS too, wasn't it.
"WE'RE GOING TO BUY BACK SHARES"
yeah right, nice try. At least no poor SOB's chased this announcement, this time. Well, take that back, some poor sucker bought at 7 cents today.
What a disaster
the day I wrote this post, I would have shorted at least 100K shares if I could. Stock traded 5.4 million shares and closed at $0.21
.15 + on that trade, and really not one worry about having to cover or get squeezed since that day
when I said "rational", I meant that a likely explanation would ensue, not a pie in the sky wishful thinking hope i might still get stiking rich on the backs of naked shorts theory. ANyone wanting to use the wash rule has already sold and anyone wanting to maximize losses is going to wait until the last minute as this is only trending downward towards .03 right now.
with 98 million shares outstanding, this company is worth 5.48 million right now, which IMO is about $5.3 million too much. No auditable anything, a sub sitting in a bad shell with no way to distribute it and the ensuing legal costs of even trying to do so will overwhelm their $400,000 purchase order they got last month or two. And that's if the most knowledable people are not being completely lied to about share counts. If there's a few hundred million shares outstanding as I think there are, then there's even more room to fall from here. What a disaster.
the only rational explanation for this volume at this price level is that the printing presses have been turned on again, to coincide wwith the recent pumps by mike king and the company's own PR machine, especially with the tax window closed for three days now
what's wrong with sounding arrogant, "king strongus"?
I sound arrogant all the time. Hell, sometimes I am VERY arrogant. So do you. SO does Len, and BBB sounds arrogant MOST of the time. SO?
thank you, len
for telling me what you think was wrong with my post
your insight is refreshing
Dear Len,
I think you broke your own rule. About posting about posts, and not the stock, I mean.
Anways, I'm not saying that I absolutely follow these rules, but I try, and the not adding to a losing position is one I don't break more than once. I chased a stock down from 21 to 12 adding adding adding adding and then it gapped down $4 overnight when I was on margin, I lost 300K and almost lost the house on that one.
There are people who at least claim to be adding more and more as the stock crashes through .10 and into the low 5's in about three weeks and those are the people I truly worry about.
IOW, at this point, if the stock were to miraculously get towards the .12 range the massive selling to try recouping at least SOME of the regained losses would create a VERY LARGE CEILING for this one that would be just like the .20 ceiling that held when tested for about 14 months....
Just in case some of you are wondering what you did wrong and why your inheritance, kids college fund, or retirement savings are now in jeaopardy.....
Dennis Gartman's Rules of Trading
via John Mauldin, comes Dennis Gartman's "Not-So-Simple" (But Really Utterly So) Rules of Trading
R U L E # 1
Never, ever, under any circumstance, should one add to a losing position ... not EVER!
Averaging down into a losing trade is the only thing that will assuredly take you out of the investment business. This is what took LTCM out. This is what took Barings Brothers out; this is what took Sumitomo Copper out, and this is what takes most losing investors out.
R U L E # 2
Never, ever, under any circumstance, should one add to a losing position ... not EVER!
We trust our point is made. If "location, location, location" are the first three rules of investing in real estate, then the first two rules of trading equities, debt, commodities, currencies, and so on are these: never add to a losing position.
R U L E # 3
Learn to trade like a mercenary guerrilla.
The great Jesse Livermore once said that it is not our duty to trade upon the bullish side, nor the bearish side, but upon the winning side. This is brilliance of the first order. We must indeed learn to fight/invest on the winning side, and we must be willing to change sides immediately when one side has gained the upper hand.
R U L E # 4 DON'T HOLD ON TO LOSING POSITIONS
Capital is in two varieties: Mental and Real, and, of the two, the mental capital is the most important.
Holding on to losing positions costs real capital as one's account balance is depleted, but it can exhaust one's mental capital even more seriously as one holds to the losing trade, becoming more and more fearful with each passing minute, day and week, avoiding potentially profitable trades while one nurtures the losing position.
R U L E # 5 GO WHERE THE STRENGTH IS
The objective of what we are after is not to buy low and to sell high, but to buy high and to sell higher, or to sell short low and to buy lower.
We can never know what price is really "low," nor what price is really "high." We can, however, have a modest chance at knowing what the trend is and acting on that trend. We can buy higher and we can sell higher still if the trend is up. Conversely, we can sell short at low prices and we can cover at lower prices if the trend is still down. However, we've no idea how high high is, nor how low low is.
R U L E # 6
Sell markets that show the greatest weakness; buy markets that show the greatest strength.
Metaphorically, when bearish we need to throw our rocks into the wettest paper sack for it will break the most readily, while in bull markets we need to ride the strongest wind for it shall carry us farther than others.
R U L E # 7
In a Bull Market we can only be long or neutral; in a bear market we can only be bearish or neutral.
In a bull market we can be neutral, modestly long, or aggressively long--getting into the last position after a protracted bull run into which we've added to our winning position all along the way. Conversely, in a bear market we can be neutral, modestly short, or aggressively short, but never, ever can we--or should we--be the opposite way even so slightly.
R U L E # 8
"Markets can remain illogical far longer than you or I can remain solvent."
The University of Chicago "boys" have argued for decades that the markets are rational, but we in the markets every day know otherwise. We must learn to accept that irrationality, deal with it, and move on.
R U L E # 9
Trading runs in cycles; some are good, some are bad, and there is nothing we can do about that other than accept it and act accordingly.
Thus, when things are going well, trade often, trade large, and try to maximize the good fortune that is being bestowed upon you. However, when trading poorly, trade infrequently, trade very small, and continue to get steadily smaller until the winds have changed and the trading "gods" have chosen to smile upon you once again.
R U L E # 10
To trade/invest successfully, think like a fundamentalist; trade like a technician.
It is obviously imperative that we understand the economic fundamentals that will drive a market higher or lower, but we must understand the technicals as well. When we do, then and only then can we, or should we, trade.
R U L E # 11
Keep your technical systems simple.
The greatest traders/investors we've had the honor to know over the years continue to employ the simplest trading schemes. They draw simple trend lines, they see and act on simple technical signals, they react swiftly, and they attribute it to their knowledge gained over the years that complexity is the home of the young and untested.
R U L E # 12
In trading/investing, an understanding of mass psychology is often more important than an understanding of economics.
Markets are, as we like to say, the sum total of the wisdom and stupidity of all who trade in them, and they are collectively given over to the most basic components of the collective psychology. The dot-com bubble was indeed a bubble, but it grew from a small group to a larger group to the largest group, collectively fed by mass mania, until it ended. The economists among us missed the bull-run entirely, but that proves only that markets can indeed remain irrational, and that economic fundamentals may eventually hold the day but in the interim, psychology holds the moment.
And finally the most important rule of all:
R U L E # 13
Do more of that which is working and do less of that which is not.
This is a simple rule in writing; this is a difficult rule to act upon. However, it synthesizes all the modest wisdom we've accumulated over thirty years of watching and trading in markets. Adding to a winning trade while cutting back on losing trades is the one true rule that holds--and it holds in life as well as in trading/investing.
Oracle
That was funny!
Fortunately, I am actually UP money in my involvement in grifco inc. I did this by selling out at an opportune time after having averaged down slightly (which resulted in a small loss) and then buying right before the $2.25 PR (right about the time stringus came around touting a PR and a BIG MOVE COMING) which resulted in a small trading gain. All in all I'm up about $4500 in the stock, no small amount, but then again not nearly worth the amount of time and research I put into it. Why do I say this? Because if anyone were going to be pulling out uzis at the meeting it's going to be someone who was very much mislead by dialer but also a "few others" here who have been enabling, ne cheering on, dialer's behavior.
If anyone's going to go ballistic it's someone who's out a TON of money. I wouldn't venture to guess who they'd aim at first. Probably me, for being the messenager a LONG TIME AGO that this picture smellled to high heaven from the very beginning....
But I DID get a HUGE LAUGH out of your post, thanks
Tampa,
just responding to your post here about my call about what would happen after the shareholder meeting. I said that within a few weeks, we would be down sginificantly and I said that it wouldn't surprise me if we saw four within a few weeks of the shareholder meeting. I also said 60% at the resonable outcome. Well, we traded a significant amounts in the 5's today. The 4's are not far behind, are they?
it has now been 7 full weeks since the shareholders met in Las Vegas and yet again got the wool pulled firmly over their eyes........
bashers never bash a bad stock
anyone heard this before?
I would like some justification for this saying, as I saw hundreds of examples of it NOT being true, in the last 10 years in the investing world.
WHy does this myth still propagate?
thanks