Grifco Inc (GFCI)

[justerx]

Posted by: justerx Date: Wednesday, August 26, 2009 4:15:16 PM
In reply to: back2basics who wrote msg# 11315 Post # of 11352

By: visxlaserman
21 Jun 2006, 12:12 PM EDT
Rating: Msg. 14992 of 46576
(Reply to 14986 by biffa)

Jump to msg. #
biffa,
"Why do you think the price has not responded if the offers are legit?
Why wouldn't a prospective buyer be buying shares at $.12 if their ultimate price to buy will be $1.50+ as some state here.
Doesn't make sense."

My opinion? I feel that, of those who have purchased shares over the last 6 months, this is how the VAST maj. are thinking:
1)They have heard that the CTBG div. will be given to holders as of May 1. BUT, we all know that the SEC must agree with that date and often change the date. So, smart money (IMO) is holding their GFCI shares - AND ADDING MORE AT THESE LEVELS-- just in case the date changes, so there is not a lot of selling pressure from most longs.
2)the other holders are not selling because they either want over $1.50/share or they are willing to let it go to zero. No selling pressure.
3) so where is the selling pressure coming from? Some say that management is selling shares on the open market. I asked that specific question when in TX and the answer is NO. They are not. I am not the only one that was told that answer.
If you look at the trading over the last month, I think that there is a lot of trading shares back and forth. I have added lately but the orders took awhile to fill. If it takes a MM 500,000 shares to cover 70,000 shares that were naked short, they can make up 1,000,000 shares in just over 14 days. My point is, it is very hard for these people to cover a naked position (if one exists) and this may just be one of those times that the brokers get caught with their pants down.
4) lastly, who would sell and take a huge loss here? Not people I know. People who have been to TX to research their investment.

Could this get shorted into the ground like other stocks have in the past? NO!!! I have info that is very uncommon for an investor to have (even the SEC and Ameritrade asked "how did you get that report?"). How I got it does not matter, I have it and that, along with your help with your statements, we have them with their pants down. I will not let up.
Let's get 'er done!