Grifco Inc (GFCI)

[cyofish]

I made this point back when JD formed Universal Energy & FTXN but fell on deaf ears. Too many dreamers hoping GFCI/FTXN was the chance one in a million real deal company that would emerge out of the pinky world. I suppose this is how most bottom fishing investors get duped by a pinky company.

The last legitimate company that walked away from Adams Ranch basically said in their SEC filing that these wells were no longer productive. The cost to extract the resource far exceeded the benefits. They couldn't of made it more clear.

Unfortunately, JD had his pied piper on these message board pumpers. BBB emphatically stated that I was "WRONG" in quoting the SEC filing. THE One claimed things are different now compared to when to way back when. His favorite words were "we will see". These individuals backed up their optimism with fabricated number crunching that sound impressive but were full of flaws. They claimed based on their calculation FTXN was worth $3 - $4 share. Their ignorance had them believing GFCI shareholders were all entitled to every bit of this bonanza. BBB even went as far to make an $800 million revenue projection for FTXN (but the cost to generate the projected revenue would have been in excess of $8 Billion so....). Sadly, a number of people blindly bought the irresponsible logic spewed by these individuals. Even when it was quite obvious to most people BBB continued to make optimistic comments about JD and his misadventure.

Industry average profit margin for small-mid size O & G companies were 6% ROI. How can a start up shoe strong operation like GFCI potentially make astronomical profits as claimed by BBB et al? Common sense would dictate that if these wells were so lucrative other established operators would have squeeze the profit out of it through competitive bidding. Another red flag would have been the number of shyster pinkie companies that it passed through. Common sense would ask "why couldn't the prior company succeed?". These are all the red flags that should pop up beyond the statement made in a SEC filing by a legitimate O & G company.