Grifco Inc (GFCI)

[jtomm]

The Dividend Delay Game

IDWD and BIGN are two other companies playing the dividend delay game, just like Grifco. Stringing things along for as long as possible. IDWD has been doing it for 7 months, BIGN for about 5 months.

IDWD first mentioned their dividend in October of last year. The symbol was IDWS then. I looked into it because it sounded good. Found out Downes was a convicted felon (financial fraud). Look at the litany of fantastic press releases and all the confusion he creates, especially the press releases regarding the dividend.

http://investor.news.com/Engine?Account=cnet&PageName=NEWS&Ticker=IDWD&Limit=80&Mode...

This is simply "playing dumb," because the NASD rules couldn't be simpler. Were it not for the introduction, the endnotes, and all the wasted space, the rules could fit on one page and are worded very clearly:

http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003997.pdf

These companies blame the NASD and make it sound like the NASD "just informed us of this."

That's total B.S. The rules are very, very clear. Companies playing this delay game know exactly what they're doing.