Grifco Inc (GFCI)

[10 bagger]

GFCI...

Great Release.. But..
Still doesn't show the number of shares being distributed or the number that GFCI has outstanding.. It does though give an indication as to the Max.. number of share presently outstanding...The words "expected" and the filing date give some concern as it takes a well run Underwriting team or accountants at least 60 days to receive SEC approval from the filing date under normal time tables.. But if this comes off as written,,, my hats are off to the GFCI longs and they for the first time they have a press release from GFCI that has given a hint of numbers that will be verified upon the completion of the spin-off...hank

Grifco International Announces Record Date for Spin-Off of Coil Tubing Technology
HOUSTON, TX, Mar 30, 2006 (MARKET WIRE via COMTEX) -- Grifco International, Inc. ("Grifco") ( OTC:GFCI) today announced May 1, 2006, as the record date for the previously announced spin-off wholly owned subsidiary Coil Tubing Technology, Inc. ("CTT"). Grifco shareholders will receive 1.89 shares of CTT for every one share held in Grifco as of the record date, up to 75 million shares. Upon completion of the spin-off dividend, CTT will have approximately 85 million shares issued and outstanding.

The distribution will occur when CTT receives acceptance of its SEC Form 10-SB, which is expected to be filed in April 2006. In order to participate in the CTT spin-off, a shareholder of Grifco must own their shares at the close of trading on May 1, 2006.