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PPS > .0002 likely
Take a look at the price charts for CNES, a company with a O/S equal to JMCP. It trades .0004 to .001, and higher, and JMCP is a far superior comapny.
Another new pr out
Grifco International, Inc. Closes Deal on Merger and Master Plan of Asset
Roll-Up With OTC Bulletin Board Company
HOUSTON, TX, Aug 18, 2006 (MARKET WIRE via COMTEX) -- Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) is pleased to announce that it has closed the first-round deal documents to merge with the targeted OTC Bulletin Board company following meetings of the respective executive officers in Las Vegas, NV.
Jim Dial stated, "We worked all day Thursday and Friday in Las Vegas to complete the deal documents with our corporate counsel. We are pleased to have completed this important milestone for the benefit of our shareholders. There is a lot of hard work ahead of us and we ask our shareholders to understand the importance of becoming part of a reporting company with the Securities and Exchange Commission where information must be filed in advance with regulatory authorities after approval of securities counsel and auditors. This is not only good business practice, but it is mandated under Sarbanes-Oxley and the rules of the SEC."
Mr. Dial continued, "One of the first orders of business was to form a new wholly owned subsidiary as part of a triangular merger in a tax free exchange of shares. We further explored venues for our up-coming shareholders meeting. Further details about the shareholders meeting will be forthcoming.
"After meeting with our securities counsel, we were advised that the merger company must file an 8-K announcing a 'material event' together with details of the merger terms within the time prescribed by the SEC. A Form 14A proxy statement will then be filed with the SEC in the same time period and mailed to its shareholders to approve the deal and certain other corporate organizational matters. The merger company will use the services of a proxy agent to handle communications with its shareholders.
"Our next step will be to meet with our investment bankers in San Francisco, CA next week with respect to capital structure post merger and details of how best to finance our targeted acquisitions pursuant to our roll-up strategy."
About Grifco International, Inc.
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 industries throughout the United States, China, Mexico, South America, the Middle East and Africa. 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 Mobil Corp, and Schlumberger. For more information, please visit: www.grifco.org.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Contact:Chicago Investor Relations LLC312.238.9875
SOURCE: Grifco International, Inc.
Copyright 2006 Market Wire, All rights reserved.
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SUBJECT CODE: Energy and Utilities:Equipment Manufacturing and Production:Machinery and Tools Energy and Utilities:Utilities Energy and Utilities:Oil and Gas
Been watching this for a while...
Trading at a very low P/E.
Anyone know if there has been recent dilution ? Trading volume jumped a lot early July, along with price drop.
Re: Chavez connection idea.
Obviously an unlikely scenario, but it is entertaining after all the mud slinging on this board.
If there was something to the idea, it might be that CSHD is able to borrow against bond - to finance ventures, and in turn Caracas group gets a percentage of share proceeds from future venture spinoff's. US Govt gives CSHD priority contracts, thereby generating great returns to Caracas Group, which in turn use funds for their political purposes. And the multiples available form a stock provide more money compared to an outright gift to Caracas.
Gov't concepts do not always go so smoothly - remember the Watergate break-in, and all the bumbling there....
Call this: "Venezualan Contra"
Several thoughts on PR.
First, I am glad the internet deal fell through. Even before the press release, I felt dilutive acquisitions would be a concern, and a mistake, unless you buy for pennies on the dollar. This deal would of been more than dilutive, it would of been a disaster. Intrinsic growth is far better at this stage. And, yes, it would have diluted gem, and oil earnings also. Gem earnings are important to give this stock the low downside risk, and oil the upside potential.
The main problem with the press release is the grammar, and the tone.
The oil paragraph should have said: no new updates on the main oil customer, as of today (big deals like this take time), but we are also aggressively working on additional oil customers at the same time. The nonsense about "customer malaise" was not necessary. Press releases should not be used by management to emotionally vent to shareholders. They also left a word out of the oil sentence - this is sloppy. (it still bothers me when they have spelling errors on their web site - don't they proof read prior to posting ?)
The news about Norman should have said: Norman promoted to new duties. The word resigned was a bad choice of language, especially following negative tone used to update the internet and oil deals. Makes it sound like a slaughter, which it was not.
The one smart thing they did was to release it 5 minutes before market close on Friday, allowing a few sells at the bid, no price crash, and then a long weekend.
I am not a major holder at this time, (was for a bit, and may be again), more of an interested party, but I hope my comments are helpful.
To sum up, I agree that the oil deals are still in the works. A new pr person may be good, especially if they can write better, clearer releases. Also, Company should wait to press new deals until they are more confident they will close. And it is good the internet deal crashed. A low market cap stock like this will find it difficult to buy their way to fame, with dilutive shares. They need internal growth.
Low Market Cap.
I have been accumulating for a while, I find this a great value. If you take current share price, and multiply by the likely share count after all buybacks, you get a stock currently trading at a market cap of about 750 thousand, perhaps less.
So long as someone at the home office is still breathing in a year, the company should be worth more than this.
They needed FHAL because with 3-5 years audited OTC-BB financials, they can move to the NASDAQ immediately.
Big Bang !
My thought is this;
They want a big bang when it re-opens. 4 things at once:
1. Trading halt freezes trading
2. 10-Q report with great balance sheet and company news creates buying demand
3. Simultaneous symbol change lowers selling pressure, because on the day of a symbol change many accounts can't trade it electronically. You have to phone broker, many people wait a day or so.
4. On top of all this, massive short covering by doing all this after a halt.
IMO, this creates a BIG BANG on opening day, and gives Rufus the satisfaction he wants by draining shorts.
ghcnj, thanks for the otc news info. I have been buying shares here. Seems to me, just the net profit to ISBL, from the gem deal, at a 10 p/e, could support the current price.
Current market cap = 1 million $, if they make 100k form a gem deal, we are ok. I think they should make more than this, just on gems. So, so long as Co is legit, downside is limited, and upside large.
News Help.
Since the symbol change to ISBL, news releases do not appear on Yahoo finance. I know pink sheets.com pulls some stories from the old symbol about 1 month back, but I wanted to view stories prior to that.
Does anyone know of a site where older news releases tagged to the prior symbol still appear ?
I agree 100 percent.
I started to listen to the interview, and actually turned it off, for the same reason.
Check post 17629
Symbol must become available to FHAL. You must do that first, before FHAL can change symbol to it
Agreed. Do not feed the bashers. Put them on ignore, and raise the level of discussion.
Lin, I am taking the same approach. Too much chaos over the minute by minute price changes. So long as a shareholder has confidence in at least 1 of CVSU's existing businesses, or at least 1 of their cash assets, this is a hold.
When life settles down, this stock will be much higher than today.
your post makes sense to me. Several other reasons to merge into FHAL shell:
It has been doing audited financials for enough years to allow CVSU to go right to the nasdaq, and get out of this penny chaos.
Second, another post mentioned a possible tax loss carry-forward in FHAL.
Third, company can buy shares at 20 cents and reissue later when price is over $15.
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Posted by: semiguy99
In reply to: None Date:7/26/2006 4:24:58 PM
Post #of 15736
One possible reason why this deal is on the table...
This will probably get lost in all of the other stuff going on but suppose Rufus is truly on the level here (and it sounds to me like he is) and the following are true:
1. CVSU has tons of Assets and billions more possibly promised
2. Institutional holders love the concept of a holdings company spinning off subsidiaries with shareholders getting pieces of all the spinoffs.
3. Institutions want to buy shares in CVSU at the cheapest possible prices.
4. Rufus has a huge bug up his a** for shorts and market makers and wants to bury them.
If all of the above are true, this deal makes all the sense in the world. FHAL becomes CVSU, the stock opens at $15, shorts get killed, FHAL shareholders are probably weak hands at $15 so the price drops down (maybe to $8-10), where institutions start buying those shares up and get it back to $15 after the first flush.
Rufus could have gone the traditional route of either doing an IPO (which has enormous costs and is very time consuming) or doing a reverse merger into a shell with a reverse split, but in either case the shorts don't get killed. In the reverse split scenario they actually win, something he clearly doesn't want.
I'm not saying this is exactly what's going on here but seems to fit everything we've been seeing and hearing for the past week.
Comments?
imo, this a big over reaction. Just look at the share price, and book value, and tell me if you are worried this company is not worth 100 million dollar marlet cap.
Per posts, some had way too high of a percentage of account value in a stock which is already up huge.
I am quite confident this stock will be worth much more than today's price. It may or may not be $15, but it will be much higher than today...
imo, this a big over reaction. Just look at the share price, and book value, and tell me if you are worried this company is not worth 100 million dollar marlet cap.
Per posts, some had way too high of a percentage of account value in a stock which is already up huge.
I am quite confident this stock will be worth much more than today's price. It may or may not be $15, but it will be much higher than today...
I have been buying more prior to close, and will continue tomorrow if it drops. People are over-reacting to a comment about days for certs. This is in case there are many FTD's/naked shorts when they recall certs.
My plan is to begin selling once on the Nasdaq.
I will contact company about rev numbers, and post the reply.
Also, I do agree that the gemstone sales alone could support the current share price, unless there is major dilution. But dilution would also bring in new revenue.
So, I see very minimal downside risk here, hence my interest.
I am new to this board, and I am considering buying a sizable position in this stock. I have read all posts 1 month back, and have several concerns. If anyone can reply, especially on issue # 2 below, I would appreciate it.
The first is dilution to pay for acquisitions, and start up costs. However, if the revenue is as hoped, this should easily offset this, and I did see company is trying to get a large credit facility.
My main concern is this: most of the future PPS estimates on past posts calculate future revenue, and go from there. The revenue projections seem to be mostly based on the following quote from a company press release when they were looking to acquire World First:
"We expect revenue for the production year beginning November 1, 2006 will be a minimum of $20,000,000 with net revenue from this operation fixed at 20%."
I suspect there is a possibility that the 20 million is the gross value of oil recovered, and the 20% is the company's real revenue, which would be 4 million, not 20 million. Note the precise wording of revenue and net revenue, not revenue and net profit. Their costs would come out of the 4 million, and then a triple size deal would = 12 million, not 40 to 60 million.
It would also explain the small 6 million proposed purchase prise for World First. A company with 20 million in revenue would not likely sell for a low price of 6 million dollars
A final issue would be the corporate address on the web site seems to be an apartment complex in Connecticut. I am from Connecticut, the city is Stamford (not "Stanford" as the site says). I did a reverse address lookup, and found hundreds of residential units in this complex. Yet the corporate phone number is Maryland. ??
As I said, I am new to this company, so it may be I am not understanding the deal properly. If so, please help me understand.
Thanks.
CVSU CFO info.
From a previous post. Posted by: some_extra_dough
In reply to: None Date:7/21/2006 11:34:28 PM
Post #of 8167
Officers of our newly merged company......
http://www.otcreporter.com/Newsdetails.asp?NewsId=382
Darryl Horton, CPA - Chief Financial Officer Mr. Horton is a graduate of Accounting (cum laude) from Michigan State University and has an array of experiences that include fifteen years working as an executive with the State of Michigan. Mr. Horton has served State Government as Director of Internal Audits and he is currently the Director of the Division of Licensing & Certification, which is responsible for the monitoring and regulation of all of the state's hospitals and health facilities.
Darryl Horton has earned invaluable experience as a Certified Public Accountant for over fourteen years and as Founder and CEO of Horton & Associates, a public accounting firm specializing in corporate tax planning. As an Associate Member of the Certified Fraud Examiners and as a Certified Internal Auditor, Mr. Horton has developed and monitored budgets in excess of 250 million USD, focusing on analysis of internal controls and utilizing risk assessment tools for various organizations in both the private and public industry sectors.
Mr. Horton is a highly respected member of his community who serves as Audit Chair for the local chapter of the American Red Cross; he is a member of the National Association of Accountants and the Institute of Internal Auditors, in addition to participating on the boards of several other organizations and charities.
As Chief Financial Officer, Mr. Horton will provide corporate leadership by directing treasury activities and with coordination of budget programs. He will assess the financial impact of functional initiatives and generate creative solutions. Mr. Horton will formulate and optimize the capital and tax strategy of the company and will be responsible for financial reporting by developing objectives for establishing a reporting system with controls and safeguards to protect company assets.
Zanatos, Good post.
I think a law should be passed letting us decide if a broker can lend out our shares. They belong to us.
Then the brokers would need to pay us a commission, to encourage us to allow the lending.
So people could open up a cash trading account, transfer the FHAL/CVSU shares into it, and that would prevent lending to shorts, and also eliminate the need to get certs ?
Seems like an easy way...
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Posted by: Kramrer
In reply to: None Date:7/21/2006 10:38:34 AM
Post #of 6970
I do believe all shares held in a cash account (not margin) are not lendable...shares can't be lent out in a cash account. I did have a margin account but changed back over to cash account.
If you have a margin account...best to have no maintenance fees..so your shares can not be lent out.
Is there any downside to having the broker put my certs in my name, rather than street name ?
Does anyone know ?
test
Thanks for the polite statement.
I actually think it is good to get some of our stock belief's challenged at times. Helps me build confidence in my decisions.
Must be Ceo.
Last night, Mr. Harris told people to email him questions at the cvsu.us email domain, ant they got quick replies from him.
So, it was definitely Mr Harris on the site, no one pretending to be him could accomplish this.
If you distrust this merger so much, why not sell your shares and be done with it.
I would not waste my time discussing a stock I did not believe in.
I do not think this will drop like a rock if opened at $15.
If the share price rocketed from 20 cents to $15 in 1 day, you would end up with many penny investors holding a $15 stock, and then that would be a big risk. The company would have to do major buying to hold up the price.
However, I believe the company is engineering a somewhat more controlled rise, over days. They are buying at low prices to support the stock, and , perhaps, selling at times to keep the price from rising too fast. They may also release many more press releases , one at a time. In this way, shares "roll over" many times, with most penny investors, who will have huge gains, selling much on the way up. The people buying at $5, $10, $13, and $14 will not be as likely to rush to the door to sell for a loss, or minimal gain. These investors will have a longer term mindset.
Everything you ask about is explained on the CVSU web site, in the press release section, I believe.
The book value was in exchange for CVSU private shares
The audited statements are there also.
Statements are only confusing to some because the 8-K is a long legal document, not as simple as typical pink sheet mumbo jumbo pr's. I am sure the SEC (where it was filed) can understand it.
Finally, I have read up on CEO, and his background, and I think BBAN would have been better off if he had stayed.
because there will be a name and symbol change
I expect they will choose option 3, set price at $15, and let it re-open. Then they will prob announce company will be buying at open if price drops below $15.
They will also have many press releases prior to support a minimum price of $15.
For the hundreth time, All shareholders become CVSU shareholders prior to the 3 option section of 2.6. There will be a name and symbol change.
It might help new people to the board to read all posts from wed july 12th on
news out
That's former FHAL, not CVSU.
My advice is to buy back in, and turn off the PC.
My best guess at this point is that All current shareholders, FHAL and CVSU, became CVSU shareholders for the purposes of section 2.6 in the 8-K. The FHAL holding company can then pay shareholders, if neccessary.
Im am also holding most shares for $30 range.
I am done buying as well.