Grifco Inc (GFCI)

[best2listen]

Wayne, good point,

why spend money unnecessarily? Grifco keeps talking about filings but producing none. I think they will need filings for the proposed sale, registration of shares, and the CTBG spin-off. I think that any positive filing would help restore confidence in the company.

The three buyout offers sounded great to me, then Lyamec chimed in with their $28 million demand. I took this to mean that Lyamec wanted a big payment as well as control of Global Oil Tools Libya. If the deal still goes through there will be more for Lyamec and less for Grifco stockholders as I understand it. From Lyamec's PR:

"Clearly, it would be an unwise decision on anyone's part to perceive that any offering to acquire a majority stake of Grifco at this stage will lead to leveraging their position on the Libya facility without our approval, regardless of Grifco's current assets and or commercialized tools and products."

Some reorganization is clearly being considered, and I'm looking forward to selling on the pop.

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