Grifco Inc (GFCI)

[best2listen]

B2B Summet sold a shell

for~$12.000. I wonder what it was ; could have been IPMC (later CTBG) or GFCI itself. Cheap price for a shell (unless it was defective)

After Jim Dial bailed out of Summit Entertainment Group, John Jarvis took charge. Jim Dial took over Litfiber (now Grifco) Jarvis's old company. Basically they switched jobs.

https://www.otcstockinfo.com/repository/656608/656608_FR15.pdf

"On November 1st 2004 Jim Dial resigned as President / CEO of Summit Entertainment Group and John D. Jarvis became the new President / CEO
of Summit Entertainment Group on the same day."

In the 2004 report Summit recorded income from the sale of a corporate shell (note 5 to financial statements)

"Miscellaneous income includes proceeds from the sale of a corporate shell. The expense relating to the sale of the corporate shell are listed as sales expense under other expenses."

Misc Income = $12,465
Sales expence = $3,000

Just some old info
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