Grifco Inc (GFCI)

[cyofish]

Dr Bill, you're assuming the shares were issued for the purpose of obtaining the O & G leases. JD could have received the shares as a form of compensation (I remember Jarvis issuing himself tons of shares with his shells), conversion of a warrant, excersised his stock options, or from other means.

The fact stated in the 14A is that JD pledged his personal shares and not Tresuary shares. Only I'm sure the Auditors will want a close look at the transaction.

As for legal actions, if this was a stock trading on the higher exchanges, with real financial statements, assets, and balance sheet, you will find attorneys and law firms that would take on a class action on a contingency basis. With this being a pinkie penny stock an attorney would want a retainer and billiable hours. There is too much risk and too little reward to take it as a contingency. It's hard to imagine an investors who spending $0.06/sh would agree to pool together tens of thousands of dollars to go after Dial. Even if all is successful it may wind up where the shareholders would have to split the proceeds of a forklift and a printing press 700 ways.