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If you really want an answer, reread the 10q. I've posted it here. You just may not see it through the verbage.
As described in Note 3, during the quarter ended March 31, 2006, the Company
entered into production sharing agreements in Blocks 2, 3 and 4 under which they
sold various participating interests for total cash proceeds of $45,900,000. The
Company agreed to pay a $3,000,000 cash success fee to Feltang International
Inc. ("Feltang"), a British Virgin Island company that was responsible for
obtaining Sinopec's participation in Block 2. Under the agreement with Feltang,
in addition to the cash payments, the Company also will issue 5,250,000 shares
of common stock and warrants for 6,500,000 shares at $0.355 per share. The
common stock was valued at $4,803,750 based on the quoted market value of the
common stock on the date Sinopec signed the production sharing agreement. The
warrants were valued at $5,154,500 based on a valuation using the Black-Scholes
Option Pricing Model and the following assumptions; market price of $0.915,
strike price of $0.355, volatility of 115%, interest rate of 4.42%, dividend
yield of 0% and expected life of 4 years. Following is an analysis of the sale
of the participating interests in blocks 2,3, and 4.
Have you figured out yet why they gave away all those shares and cash? Dilutive don't you think? How big a percentage of the deal did they give away?
It sure looks like a whole pile of money and shares pissed away.
Unless of course they come up dry. Then it's called cut your losses and stop because you're coming up empty. That's all WAG.
Excuse me cleverrox, but just who is "we", as in
"we expect CTBG will file financials and for each share of GFCI you hold at that time, you will receive two dividend shares of the spin-off CTBG."
Just who are you speaking for? I have not come across any info at all on what the ratio will be yet you speak as if it is written in stone.
In fact, I think it is ludicrous to expect anything near what you are saying.
So for the record, just where did you get this info?
Great news! Did anyone find out what the ratio of CTBG dividend shares for one GFCI share will be?
OT. Does anyone here have an opinion on HEPI and it's miracle drug? Sure looks scammy to me.
Yes, that was a very nice re-cap. The lame bashers on this board will now try to turn it into a negative to suit their agenda.
Good stuff! I updated my last post with contact numbers. GLTY!
Call the transfer agent if you believe it is wild speculation.
Transfer Agent:
Transfer Online, Portland, OR 97204
http://www.pinksheets.com/quote/company_profile.jsp?symbol=GFCI
Postal address:
Transfer Online, Inc.™
317 SW Alder Street, 2nd Floor
Portland, OR 97204
Hours of operation:
Monday through Friday
8am to 4:30pm Pacific Time
Phone: 503.227.2950
FAX: 503.227.6874
http://www.transferonline.com/index.cfm?action=notice_portBrewing&pathID=65
nealgalt1, I checked Mr Bill out today when I was going through the posts here and realized he/she has been bashing GFCI since the day he started posting. Looks like there is an obvious agenda, fyi.
Bought GFCI on today's news of a buyback.
Grifco Begins Aggressive Stock Buy Back in the Open Market
HOUSTON, Dec. 19, 2005 (PRIMEZONE) -- Grifco International, Inc. (Pink Sheets:GFCI) and its board of directors have decided to embark on an aggressive initiative to create higher stock price for shareholders. The Board has approved up to 20,000,000 shares. Grifco has committed to buying an initial 1,000,000 (one million) shares of GFCI in the open market. This program will be effective immediately and will continue until the price of the company's stock, in management's opinion, reflects its true value based on a price-to-earnings ratio that would be normal and fair to the industry.
The stock that Grifco purchases on the open market will either be retired or Grifco will hold the purchased shares as treasury stock, and thus have the effect of reducing the float. This strategy will increase the company's earning per share and stockholders value and create a fairly represented stock value.
Grifco reserves the right to increase this buy back program. "We feel that this is a perfect opportunity for our company to purchase our stock back at pennies on the dollar based on the true book value," said Jim Dial, CEO of Grifco International. "We feel supremely confident that this effort will show significant gains in shareholder value. Our objective is to have our stock price properly reflected."
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco's patented products are known and used throughout the world. In addition to our patented tools, Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org
Another LOI for ARSC in the next few weeks sounds good to me!
Stuck holder in CMKX. Urban and Edwards set this company up to be a pump and dump from the start. They issued themselves several billion shares, got John Glen to break the law freeing up the shares, issued them to a Las Vegas Brokerage firm,oh forgot the 100 to 1 forward split made only to these two jokers corporations and trust, the brokerage firm loaned those shares to Crown Securities, and then they came out with wonderful news about finding diamonds to uranium to what every would make people buy. As the buying proceeded, they sold short all of their shares, then dumped their shares. Crown was 51 % owned by guess who???????. Edwards and Urban...Now Crown takes bankrupcy. These guys have violated about every security law known to man, the SEC investigators are novices and the Shareholders get burned. I am not bashing, just laying out the facts. Hope the firm John Glen worked for has O and E ...insurance.
Did Mach ever start his own board?
Seems you found something worth watching bud. I like it.
DMOI looks like it will break out at any second.
I've been reading the PR's from this company and was alerted recently by its action...it's this post (link below) that bothers me, and want to ask you all if there is trouble within management?? The science sounds real good till you hit upon the actions of this management. The posts on this board bode trouble.
I can wait till the lawsuits are settled...and when the PR's reveal more promise of something happening.
http://www.investorshub.com/boards/read_msg.asp?message_id=5245685
Any bets to the filing? I say within two weeks!
I'm loaded and ready to go on AVWF. Good luck to you.
I've owned AVWF for a few months now. It looks to be a biggie :)
Has anyone figured out why volume went from 15 billion a day to under 1 a day?