Grifco Inc (GFCI)

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BBB is right on this one

As of March 30,2006, Grifco published the share count in a legally binding PR:

http://biz.yahoo.com/iw/060330/0115435.html

From the PR:

"Grifco shareholders will receive 1.89 shares of CTT for every one share held in Grifco as of the record date, up to 75 million shares. Upon completion of the spin-off dividend, CTT will have approximately 85 million shares issued and outstanding."
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Since every share of Grifco gets 1.89 shares of CTBG in the 75 million share CTT distribution, 75 million CTBG ÷ 1.89 CTBG/GFCI = 39.86 million shares of GFCI outstanding.

CTBG ~ 85 million OS
GFCI ~ 40 million OS

True, we can't know whether any shares have been issued since the PR and the average daily volume has increased. Even if the CTBG distribution hasn't happened, the numbers were published. There has been no update to this material information.

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