Grifco Inc (GFCI)

[Been_Burned_Before]

cuttinrog: That's only true when . . .

The Ex-Div Date falls BEFORE the Record Date, which is a case we do not know. If the Ex-Div Date is yet to be set into the near future, then if you sell shares of GFCI today, you'll be selling prematurely.

It is my opinion, according to the wording of the div PR, that the Ex-Div Date is tomorrow. Here is what the PR said:

"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."

Typically, investors MUST be shareholders on record prior to the market open on the Ex-Div Date. And oftentimes, you have After-Hour (AH) and Pre-Market (PM) trading. But since this is an OTC (a Pink Sheet) security, you do NOT have AH or PM trading. This explains the unorthodox use of "close" in the PR. Put another way, the wording of that PR implies that our Ex-Div Date is in essence tomorrow. So, you must buy no later than today and hold through to tomorrow.

Of course, there is still no official notification that has been given to brokerage houses, so there's still quite a few possibilities with how this will play out in time. Whatever the case, the Ex-Div Date has NOT yet been announced; it has only been strongly implied by PR.

That being the case, there's actually no possibility that an Ex-Div Date has already passed, as there's a case for having it been last Thursday, but I DON'T believe it to be the case, especially when one considers the use of the "at the close" phrase. But since an Ex-Div Date COULD BE tomorrow, I would NOT risk selling today.

Been_Burned_Before