Grifco Inc (GFCI)

[cleverrox]

I went to Grifco International where myself and three fellow investors who can reveal their own identity if they so choose met with Jim Dial and Jerry Swinford. Jim Dial is a very impressive person. Someone you would definitely want in your trench in a war. He most definitely cares about shareholders.

First of all Jim wanted to emphasize that he has NEVER sold a single share of GFCI. In fact he once bought 20,000 shares on the open market at $0.80 and has been holding it since at a loss. Jim also stated he personally owns a majority stake in Grifco and is very much in control of the company.

Jim also emphasized how huge Libya was going to be. The way the profit sharing gives the Libyan government a cut of the Grifco venture should ensure that Grifco is either the exclusive or highly preferred vendor of choice in that region. What does that mean? It means they are going to sell a LOT of tools. Jim showed myself and the other investors the official watermarked State Department binders for the technology transfer and business plan. The pages were watermarked by the State Department; very concrete evidence of the Libya deal.

The Libya deal is moving forward although Jim couldn't give us any concrete dates because he simply won't do that any more because other parties are in control of the timeline. Jim wants to aggressively build his credibility by avoiding setting dates on things out of his control and delivering on what he does commit to. Jim is a very sincere man devoted to building an oil services equipment empire and taking care of shareholders.

The Grifco/CTT offices were quite professional looking and even had a homey feel. Not at all what you might expect since they are in an industrial type building which also houses manufacturing and warehouse capacity next to Grifco and throughout the park. For instance Lois mentioned the world's largest maker of garage doors was in the same industrial park and used their space efficiently. Sometimes it doesn't take an enormous amount of space to create quite a large business.

We met Lois, Ed Leonard, Jerry Swinford and Jim Dial while we were there.

Anyway that is the most important stuff. I have to run off to my day job now.

RoX