Grifco Inc (GFCI)

[cyofish]

Spinning off CTBG would definately help their credibility IMO. It would have made more of an impact if they could have met their own self-imposed deadline. Not sure if it will have as much traction now considering the stock is at $0.03. I think if they spin-off CTBG prior to the merger followed by some measurable actions towards the merger, management can win back a little credibility.

Look at their record since March 2006.

They promised audited financial - didn't happen
They promised CTBG spin-off (1st - by end of May, next - by beginning of July) - didn't happen
They indicated a buyout between $1 - $1.50 share - didn't happen
They indicated $2.25 offering - didn't happen.
They promised (at least twice) a Q & A update on webstie to answer many of the questions (didn't do it)
They promised to mail out shareholder meeting notices a month prior to the meeting (didn't do it)
They said Swinford will be at the SH meeting to discuss the CTBG situation (didn't happen)
CEO of the company shows up to the SH meeting with 3 bodyguards and didn't even speak at the SH meeting.

List goes on...you get the picture. Management cried wolf too may times. I think the CTBG dividend will help bump the price a little but it will take a lot more to gain a widespread public trust at this point.