Grifco Inc (GFCI)

[cleverrox]

Maybe. Or maybe he is just covering his butt. Maybe Grifco really is worth $1+ a share and he wants to buy a bunch more personally or do a buyback with company cash to increase the price per share his personal shares will be worth.

So he secretly buys back 10M shares and announces he has sold the company. People are going to sue him for trading on insider information. Now he has covered his butt - and can continue to buy back cheap shares. It isn't like anyone is going to believe the PR anyway.

What was the purpose of the PR?

1) A pump and dump
2) To inform investors of developments
3) To cover his butt

Someone on the RB said they bought a pink sheet at $0.30 on the announcement is was going to be bought out at $5.00 a share. Two weeks later they had their cash. Sometimes the market gets it wrong. Or maybe the market has it right and Grifco is a hollow blow up doll!