Galenfeha, Inc. (GLFH)

[letzgetrich]

The cost of just the 10K was over $100k.

Ketner said they had everything over to the auditors early, that they hired a special liaison (additional cost) to make sure it would get filed on time and go smoothly, that the auditors continually requested the same information, that the auditors promised to have it finished by the end of the extension, that the auditors asked for more money even after it was delinquent before continuing, that the note holders where threatening default on the note because of the delinquency (huge dilution to the shareholders). Etc etc.

Here’s one: Ask yourself why did Ketner write a check and payoff the principle balance of the last convertible. He didn’t have to do that. He could have just let the note go into default, let the note convert into a ton of stock, and used that money to pay himself a salary.

Here’s another one: Why did Ketner pay cash for the previous affiliates stock? Why didn’t he just kick them into the common, kick a zero off them, and issue himself more stock?

You said you talked to Ketner? I bet you a dollar that’s not true. Call him. Here’s his number: 817-900-2035.

Tell us how it goes.