Grifco Inc (GFCI)

[Dr Bill]

I'll go on recrod as saying that I am VERY disapointed that they have yet again delayed the filings. We were suposed to get filings for grifco last September for gosh sakes. Now, we're supposed to have filings to get CTBG up to date by April 30. Well folks, it's way after april 30 and we've got "ok wait another month"

meanwhile there's no update for the ex-div date, so people who bought shares at 30 wanting to get the dividend, are now watching people get the same dividend for half the price!

Personally, and this is only my opinion, I don't think that the dividend is going to happen at all.
CTBG is supposedly going to be spun out of GFCI, right? well, now, that means that the company being spun out is going to be worth more than the whole company that's spinning it out in the first place. How can you spin a 17 MIKKION DOLLAR COMPANY (85 MM *.20/sh)out of a six million dollar company (37.5MM share *.16/sh)???

the answer is you can't. And the SEC is around to protect the people who own GFPI from that happening. So what gives? It is my opinion that we will be informed that we will have to wait until the Grifcol filings get done, so investors can properly value the entire company, before spinning out such a large portion of the whole. And we all know how great J is at meeting those pesky deadlines. July? Sure thing boys. We'll get you those filings in July. Check back then. Meanwhile the pumping keeps right on trucking.