Can't post this on RB, anyone spot a TOS violation?
Sirtemp0, your post highlights the difficulties
that potential investors face when trying to do any due diligence on a pink sheet stock. The standard documents, SEC filings, & financials, are missing.
Potential investors are left with company press releases and, if they're lucky, conference calls. These communications generally contain "forward looking statements" (unless historical facts are being discussed). Company officers are expected to promote their company's prospects so investors are forced to evaluate the odds that the business plan will succeed. Since the filings are missing we are left with:
Credibility - based on past performance
Plausibility - based on the company's stated business position & assets
Salesmanship - based way the plan is presented.
Looking at the company PRs, both Lyamec and Grifco need to improve their salesmanship. GFCI is trading far below the $2.25 potential offer touted by Lyamec. It looks like the market is discounting the deal for now.
I guess I'm in the "weak hands" category. My hands were too weak to hold the stock but strong enough to seize a modest profit. If Grifco is able to complete a buyout deal I think the first indication would be sudden, mad GFCI buying in the market.
BTW, "Don't let the cat out of the bag" and "Don't ever buy a pig in a poke" are expressions from an old scam. The con sells the mark a cat in a coarsely woven bag (a "poke" for carrying live animals) claiming it is a suckling pig. Everything goes well unless someone lets the cat out of the bag.
best2
