Grifco Inc (GFCI)

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Dr. Bill it's only warrants to convert

They don't cost you a dime unless you decide to convert them into "drilling participation shares" at 20¢, 30¢ etc.

Why is Grifco restricting the warrant distribution to "shareholders of record" and asking for faxes? Why not "trap the shorts" by using a warrant distribution to all shareholders, forcing these (possibly imaginary) shorts to cover?

Four possible reasons come to mind:

1) The warrants are such a good deal that only loyal shareholders and insiders who have certificates will get in on it. Isn't UERI with 56.5 million shares a "shareholder of record"?

2) Grifco is so broke that they can not afford the cost of issuing warrants to all shareholders and must do it on the kitchen table.

3) If 20 million series "A" warrants were issued to all shareholders the true share count could be calculated and the dilution revealed.

4) Jim Dial's broker-dealer/proxies have shorted a gazillion shares to pay for Grifco's operations and the drilling. Grifco is concealing and protecting this position before the share exchange/RS or collapse on surrender to RR.

These are just possibilities - do you have any other suggestions?

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