Grifco Inc (GFCI)

[back2basics]

We regularly se how little motivation The Feds have a accomplish anything. The VA scandal is one of the latest examples. In our situation, at best we are looking at the bureaucracy morass at work.. But we could also be looking at "Any little issue and they will delay."

We've all seen how the SEC allows scams to go on and on, but it seems that once they focus on a scam the enforcement mechanism can kick in.

It seems the first hint we had that GFCI was in trouble was when the SEC/FBI came down on the Usselton brothers, then GGI. The criminal prosecution of the Grifco 3 quickly followed.

But when it got to the Restitution process everything went bat shit. The SEC has held the $1.5 million + GGI fines since May 2009!

We were finally requested to send in our claims in April 2013. They gave us 5 months to get our claims in. That was October 1 2013. (did any of you need 5 months to send in your claims?)

They gave themselves 3 months to respond. That would have been early January. Silence until March. Them callers were told "We had hoped to get checks out in the 1st Q." Then it was "We hope to get checks out by the end of the 2nd Q.

We are 6 days from June 30. what's next? By the end of the 3rd Q?

I hope the checks come tomorrow and my rant has been for nothing.

B2B