Grifco Inc (GFCI)

[cyofish]

GoingUP..we know Grifco is a real company, so is Lyamec, Lybia is a real country, U.S. Lyibian relations has improved, Musirata is a real city, Investment opportunities for Lybia is promosing yada yada yada.

Enron was also a real company, in a real city, with real opportunities, making real money. Thier down fall was the infamous off balance sheet accounting - fictious join ventures created to absorb business losses (mainly to move certian expenses from the core business to the join ventures). Joint Ventures are not part of company fianicals, but must be disclosed in the notes. What they got in trobule for is that failure to disclose these activities in their 10Q and 10K. In short lack of full disclosure.

The concern with Grifco is:

Grifco's fundamentals or lack thereof
no disclosure
Excessively high volume of trading activity and seeming trading manipulation
NV corporation status
Pinksheet status
Lack of follow through on prior PR
Failure to deliver on all their PRs