MILL..
At $1.00 and below is when we were pumping and several made note of it.. Now when is a pump,, a pump and when is it followed by a dump.. The following post tells a story all should read if they want to know.. Hank
GFCI..$0.00001
For those that do remember,, This was one of the more heated opinion scams tried upon VMC posters.. We all at one time or another owned this puppy.. The last post was made by someone that fell for GFCI hook line and sinker.. Others lost thier retirements and homes.. This Pump and Dump was one of the best I have ever seen.. Hank
========================================================
Posted by: 10 bagger Date: Sunday, November 13, 2005 1:05:39 AM
In reply to: back2basics who wrote msg# 647 Post # of 11665
GFCI...
Now I find myself in dog fight and I really don't see any reason for it....
Back2basics wrote..
Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
From 10bagger: "A better service to investors would be to boycott this board and make the company release information that is factual,"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
You're kidding, right? Do you really believe boycotting this board will influence Dial one iota?
I can't defend GFCI's peculiar way keeping investors informed. I didn't put a lot of money in GFCI because I saw them as a slick PR outfit. I did it because I know the oil field and oil field tools GFCI is ABSOLUTELY on the right track to become a player in the industry.
10bagger, you want a boycott? You won me over. I'll not post another shred of my DD on I-Hub. I-Hub regulars can read Dr. Bill, lentiman, 10bagger, and jtomm to glean the kind info they yearn for. I'll be back to call those that make what I see as distortions. Se you on RB for real DD.
B2B,,I don't even have a dog in this fight,, Sold all my shares long ago.. No one has ever critizied your right to explain or relay information on GFCI.. Your expertise in the oil patch is well documented and I will take that on face value as being true.. Your analysis of GFCI is also the opinion of many and that has come from experence or having reliable sources.. In most instances this is enough for any DD.. But in the case of a company that acquires a shell and uses the shell paper to acquire other companies,,, It would be prudent for all the mergers have a paper trail.. As of yet other than the first release touting earnings none with any numbers have appeared.. We hear about purchase of common made by the company and outside investors yet no fillings have been made on either.. we hear of companies being acquired but no fillings have appeared..8k's,13d's?? We hear of possible problems with the shell that was merged into but not even a filling of the merger has appeared.. The products or services of GFCI may be all as they say but they might not of yet be the property of the company of which you are a shareholder... If they were a filling should of been made if for no other reason than to show exchange of ownership.. Sure this is a pinkie but with the numbers that were in the first release explaining the structure of GFCI, this pinkie is approaching 100 mil in sales per year... A company of that size should at least be on someone's radar screen or at least made a filling some where.. As of yet I'm still from MO... where's the beef or in this case where is the evidence from someone other than GFCI or the PR firm that this Mini Conglomerate actually exists... The part's may all be there but so is the Brooklyn Bridge,, Does any one want to buy a bridge??
"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't."
B2B,,With this statement I have a dog in the fight.. All of us on these I-hub that pertain to investing in small companies try to help each other,, The dialog on the GFCI board during the past 35 postings were more of a pissing match than a relay of factual information.. Outlandish statements have been made on both sides of the isle about GFCI and I felt a statement or release by GFCI that would support or dispute these pissing matches was needed... To continue spinning yarns about a company that no one has any information in print is dangerous to the value of this or any other forum.. I am sure that GFCI monitors this and any other sources of information on GFCI.. If they can put out a release about an Al Haig show they could find two sentences letting shareholders know how many shares are outstanding... We had a release that gave us a release date for an earnings release.. But maybe a release giving us a release date as to why the last release date on an earnings release was not released would be appricated..Sounds like a release from GFCI.. Since you used some of my post in yours, a quote from that same posting is in order...
" Actually as a contrarian investor it just doesn't get any better than this... A keystone cops movie did not have as many road blocks as the reasons for not presenting investors with finanicals as GFCI.. this just could not of been scripted by any one other than the three stooges and as far as we have been told management is only two deep...It could be that all is true but with out financials, I'm from MO.and what I see just doesn't cut it."
If as you say you have a lot invested I really do wish you luck,, but that in itself is a sad commentary,,, Luck is no reason to invest..
hank
Posted by: 10 bagger Date: Sunday, November 13, 2005 1:05:39 AM
In reply to: back2basics who wrote msg# 647 Post # of 11665
GFCI...
Now I find myself in dog fight and I really don't see any reason for it....
Back2basics wrote..
Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
From 10bagger: "A better service to investors would be to boycott this board and make the company release information that is factual,"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
You're kidding, right? Do you really believe boycotting this board will influence Dial one iota?
I can't defend GFCI's peculiar way keeping investors informed. I didn't put a lot of money in GFCI because I saw them as a slick PR outfit. I did it because I know the oil field and oil field tools GFCI is ABSOLUTELY on the right track to become a player in the industry.
10bagger, you want a boycott? You won me over. I'll not post another shred of my DD on I-Hub. I-Hub regulars can read Dr. Bill, lentiman, 10bagger, and jtomm to glean the kind info they yearn for. I'll be back to call those that make what I see as distortions. Se you on RB for real DD.
B2B,,I don't even have a dog in this fight,, Sold all my shares long ago.. No one has ever critizied your right to explain or relay information on GFCI.. Your expertise in the oil patch is well documented and I will take that on face value as being true.. Your analysis of GFCI is also the opinion of many and that has come from experence or having reliable sources.. In most instances this is enough for any DD.. But in the case of a company that acquires a shell and uses the shell paper to acquire other companies,,, It would be prudent for all the mergers have a paper trail.. As of yet other than the first release touting earnings none with any numbers have appeared.. We hear about purchase of common made by the company and outside investors yet no fillings have been made on either.. we hear of companies being acquired but no fillings have appeared..8k's,13d's?? We hear of possible problems with the shell that was merged into but not even a filling of the merger has appeared.. The products or services of GFCI may be all as they say but they might not of yet be the property of the company of which you are a shareholder... If they were a filling should of been made if for no other reason than to show exchange of ownership.. Sure this is a pinkie but with the numbers that were in the first release explaining the structure of GFCI, this pinkie is approaching 100 mil in sales per year... A company of that size should at least be on someone's radar screen or at least made a filling some where.. As of yet I'm still from MO... where's the beef or in this case where is the evidence from someone other than GFCI or the PR firm that this Mini Conglomerate actually exists... The part's may all be there but so is the Brooklyn Bridge,, Does any one want to buy a bridge??
"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't."
B2B,,With this statement I have a dog in the fight.. All of us on these I-hub that pertain to investing in small companies try to help each other,, The dialog on the GFCI board during the past 35 postings were more of a pissing match than a relay of factual information.. Outlandish statements have been made on both sides of the isle about GFCI and I felt a statement or release by GFCI that would support or dispute these pissing matches was needed... To continue spinning yarns about a company that no one has any information in print is dangerous to the value of this or any other forum.. I am sure that GFCI monitors this and any other sources of information on GFCI.. If they can put out a release about an Al Haig show they could find two sentences letting shareholders know how many shares are outstanding... We had a release that gave us a release date for an earnings release.. But maybe a release giving us a release date as to why the last release date on an earnings release was not released would be appricated..Sounds like a release from GFCI.. Since you used some of my post in yours, a quote from that same posting is in order...
" Actually as a contrarian investor it just doesn't get any better than this... A keystone cops movie did not have as many road blocks as the reasons for not presenting investors with finanicals as GFCI.. this just could not of been scripted by any one other than the three stooges and as far as we have been told management is only two deep...It could be that all is true but with out financials, I'm from MO.and what I see just doesn't cut it."
If as you say you have a lot invested I really do wish you luck,, but that in itself is a sad commentary,,, Luck is no reason to invest..
hank
====================================================
A company partially owned by State Rep. Allen Fletcher (R-Tomball) is caught up in a white-collar crime investigation. Texas Monthly has the story:
A federal civil complaint filed last fall by the U.S. attorney’s office alleges that a company affiliated with Tomball state representative Allen Fletcher, the chairman of a House subcommittee on white-collar crime, was involved in securities fraud. No criminal case has been filed in the alleged fraud, and an attempt to confiscate more than $3 million in assets seized from the company and related parties stalled in November 2008, at which time the money was returned. Federal authorities left themselves the option of trying again, however, and spokespersons for both the U.S. attorney’s office and the FBI have declined to describe the investigation as closed. The complaint, obtained recently by TEXAS MONTHLY, together with other documents reviewed for this story, raises a question about the freshman legislator’s business dealings: How does a man like Allen Fletcher, a retired police sergeant who spent years heading a white-collar-crimes unit at the Houston Police Department, find himself in business with a group of alleged con artists?
Fletcher, who was elected to the House in 2008 representing District 130, in northwestern Harris County, owns a company called Resource Protection Management, or RPM, which provides security guards and other security services, and, until recently, sold burglar- and fire-alarm systems. In May 2007, Fletcher took on a business partner named Lois Newman, who, through her company, NuTech, purchased half of RPM. Acting on a tip received that same spring, the Harris County district attorney’s office began investigating NuTech along with another company that Newman once helped direct, Grifco International, and began building a case that both companies were being used for a stock manipulation scheme known as “scalping.” Investigators concluded that Newman and her son-in-law, a stock promoter named Evan “Nick” Jarvis, and others were artificially inflating the prices of NuTech and Grifco stock and benefiting from sales of those stocks that they did not disclose to shareholders. (This type of scam is also known as a “pump and dump.”) Both companies are penny stocks that trade through brokerage vehicles commonly known as “pink sheets,” which operate largely below the radar of federal regulators.
In the case of Grifco, which purported to be an oil field equipment firm, the stock was allegedly inflated in part through a series of bogus press releases about Coil Tubing Technology, a company Grifco had recently acquired. According to the federal complaint, Grifco stock promoters falsely claimed that the company had developed and shipped an improved type of jet motor, when in fact work on the motor was still two years from completion. The complaint also identifies a series of press releases that Nick Jarvis, the stock promoter, prepared for NuTech. Although Fletcher and RPM are not mentioned by name in the complaint, TEXAS MONTHLY has reviewed the NuTech press releases cited by the complaint, and virtually all of them tout Fletcher’s alleged accomplishments and promising developments at RPM. In particular, NuTech flogged a new type of burglar alarm system known as “dual notification,” which was said to use proprietary technology developed by RPM to drastically reduce police response time. Fletcher’s entry into politics was also used as a selling point; in one press release, NuTech informed potential stock buyers that Fletcher had decided to run for state office, noting that he had the support of Dan Patrick, the Republican state senator and popular radio host from Houston.
According to the federal complaint, the press releases, in conjunction with a spam campaign, helped boost NuTech’s stock to $3.50 by August 2007, by which time Newman had issued millions of shares to herself and to her son-in-law Jarvis. Though he was urging investors to buy NuTech stock at the time, the complaint alleges that Jarvis quickly sold his own stock for about $950,000. According to the complaint, Jarvis then kicked some of the proceeds back to Newman. Jarvis also made about $2 million on sales of Grifco stock. According to the complaint, investors should have been informed that Jarvis was selling large volumes of the same stocks he was promoting, and that insiders in the two companies were being issued millions of shares of stock.
Things began to unravel when Coil Tubing’s chief financial officer, Edwin Leonard, became suspicious about his new business associates. According to a search warrant affidavit filed by the Harris County district attorney’s office, Nick Jarvis allegedly hired an acquaintance to stage a robbery of Leonard at his home, apparently in the hope of recovering a laptop containing the company’s accounting files. Leonard went to the police. On December 18, 2007, investigators raided the homes of Jarvis and Newman, and seized property and bank accounts controlled by the two. Officers also arrested Jarvis on a robbery charge. When Harris County authorities decided to turn the case over to federal investigators, the robbery charge against Jarvis was dropped. To date no federal criminal charges have been filed against anyone involved in the investigation.
Asked last week about his involvement in the alleged scam, Fletcher said that he had no knowledge of any illegal activities involving his company. “I’m the victim here,” he said. Fletcher said that he knew press releases were being issued about his activities, but he denied actively participating in their drafting, despite the fact that most of them contain quotes from Fletcher himself. One of the releases refers investors to an audio interview that Fletcher recorded on a Web site that promotes penny stocks. Fletcher acknowledged doing the interview, which was posted on November 1, 2007, six weeks before the raid on Jarvis and Newman, but he said that everything in the press releases and the interview was accurate and factual.
“I thought Nick could take my company and take my story and raise money legitimately and help us turn our company around,” Fletcher explained. Fletcher said RPM had never recovered from losing its biggest contract, providing security at the Enron complex in Houston, and that the company was in serious financial trouble when Jarvis approached him. Fletcher said he knew that Jarvis was building an enormous new house in an exclusive Montgomery County subdivision, and that when Jarvis pulled up to RPM’s offices in Tomball to pitch him on the NuTech deal, he was driving a $100,000 Mercedes-Benz. “I’m telling’ you I didn’t have a clue he wasn’t legitimate,” Fletcher said. “He had all the legitimate trappings; why would I think that Nick wasn’t?”
In fact, there were, or should have been, warning signs about the NuTech deal from the start. Jarvis is a felon who served time in the penitentiary for burglary and drug convictions in 1995. Fletcher, whose company performs background checks on prospective employees for clients, told TEXAS MONTHLY he had had no idea that Jarvis had served time in prison. He conceded that he or a business partner had found a criminal history for Jarvis when they checked him out, but that Jarvis had explained away the charge, and that he never really followed up on the issue.
But Fletcher had crossed paths with the Jarvis family before, and, by his own account, had doubts about their business endeavors. Fletcher said he first met Nick Jarvis at a Tomball bowling alley owned by Nick’s brother John. Nick managed the bowling alley, and Lois Newman ran the counter. John Jarvis had incorporated a series of penny stock companies in Montgomery County over the years, hawking a variety of ventures: independent films, casinos, online gambling—even a data center to be built in a renovated underground nuclear fallout shelter. Fletcher told me that in 2004, John Jarvis brought him a business proposition, offering to help him raise money from investors by merging RPM into a publicly traded shell company known as LitFiber. It was essentially the same type of deal that Nick Jarvis would bring Fletcher two and a half years later. Fletcher said that he got out of the deal with John Jarvis because he didn’t like the way he was promoting the new enterprise—issuing press releases in support of the stock that Fletcher considered false, or at least greatly exaggerated. In other words, Fletcher now says he felt he was being drawn into a scam very similar to the one described in the federal complaint against Grifco and NuTech. In fact, according to the Harris County search warrant affidavit, the same shell company John Jarvis offered to Fletcher was eventually used to acquire Coil Tubing. (John Jarvis, who could not be reached for this story, has also had trouble with the law, having been convicted of felony check forgery in the late eighties. Fletcher told TEXAS MONTHLY he was unaware of this fact.)
Why would Fletcher agree to do business with Nick Jarvis if he felt he had just been burned in an almost identical deal by his brother John Jarvis? At the time Fletcher said yes to Nick’s deal, he was also being sued by a businessman named James Buchanan in Massachusetts, who claimed that Fletcher and a Miami investment broker named Mychal Jefferson had tried to defraud him in yet another effort to raise capital for RPM. Fletcher said that Nick told him he was no longer doing business with his brother John, because the two had had a falling out. “He says, ‘Look, I know you’ve been burned. You walked away from John’s deal. And I know that you got burned on the Buchanan deal. The reason both of those deals [came up] is because your company is prime for this, and because of your technology for the patent-pending methodology for the dual notification. I’m telling you that if you get with somebody that’s legitimate, like me, we can make this happen.” Fletcher said that he and his business partner had the deal vetted by an attorney and decided to go ahead with it. The contract Fletcher signed was countersigned by Lois Newman, who was handing out shoes at the bowling alley when Fletcher first met her. Her title now was “NuTech president.”
=====================================
Cross post..
Victim of the crew with website
She would probably be interested in the information we have.
http://www.claudeeldridge.com/
I don't have much on Trans Global any more since I didn't save any pages before the website was removed.
She's looking for e-mail about the crew.
========================================
Posted by: 10 bagger Date: Thursday, March 22, 2007 12:38:42 AM
In reply to: None Post # of 11662
I'll go out on a limb and say that this statement will not come true... hank
I see shares of Grifco trading at $15 to $20 per share on AMEX or NASDAQ Small-Cap -- a 5000% increase -- in about a year (or less). If I had more money, I would buy some more, but I'm already in and holding! Are you??
Posted by: Been_Burned_Before
In reply to: None Date:12/19/2005 3:09:27 PM
Post #of 9413
Grifco is a righteous investment!!
This has come as a completely and pleasantly shocking surprise. It is very interesting, to say the very least. Very interesting, indeed! I am exceedingly glad that I had been adding to my position.
What's even more interesting, though, is the fact that when Grifco International first went public, they had 20MM shares O/S, 3.5MM of that consisted of public float. And this was still true as of mid-March 2005, which means that the purchase of Ko-Vac Systems and that JT Venture with C-Sap did not increase share count. But then Grifco bought Coil Tubing Technology (CTT) and Global Oil Tools, and this brought some change!
As of August 13, 2005, according to Kenner's personal visit to Grifco and some discussion with Dial -- Grifco had a total of 31,571,429 shares O/S. The only publicly known change after this that could have affected the share count was the Lyamec purchase of 6MM shares, which brought the total count to 37,571,429 shares O/S.
As for the public float: There are about 4.4MM shares. In fact, if you want to see the public float in exact numbers (thanks to Cleverrox), look at the latest One-Time Security Position Report issued by the Depository Trust Company on July 13, 2005 (it can be found on rowdyrhino; look for a pdf, gfci_float). According to that report, the public float only consisted of 4,408,898 shares at that time.
Now, Grifco "and its board of directors have decided to embark on an aggressive initiative" to buy back "up to 20,000,000 shares." I must confess that even the most defective logic tells me this share buy back plan includes shares that may have at one time been restricted but are now free-trading.
Further, since "Grifco has committed to buying an initial 1,000,000 (One Million) shares GFCI in the open market . . . effective immediately," I imagine that Grifco is prepared to take the share counts to levels not seen since first going public over a year ago.
What's most promising about the plan is this: The share buy back program "will continue until the price of our stock, in management's opinion, reflects its true value based on a price to earnings ratio that would be normal and fair to our industry." Today, the average trailing twelve month (TTM) P/E multiple in the Oil & Gas Equipment & Services industry -- that is, for the 44 companies within this sector that actually have a P/E -- is about 48.
In my opinion, though, a purely mathematical average is not a true representation of "normal and fair" because averages tend to be skewed by extremes. A far more representative value for "normal and fair" would be the median, which is that particular value for which exactly half the companies in this sector have a multiple that is higher (or a multiple that is lower, depending on how you want to look at it).
Today, the median value for TTM P/E multiple in this sector is about 28. This is what I feel would be a "normal and fair" value. Even Boots & Coots (WEL) has a value of 36! Granted, Boots & Coots currently lists on AMEX. But Grifco will list on AMEX or NASDAQ Small-Cap soon enough!
Given these facts, let's see where the potential lies. Let us assume Grifco does in fact buy back all of the 20MM shares approved by the board, leaving roughly 20MM shares O/S. Additionally, let us assume Grifco only earns what it earned the last six months in 2004 -- $2.6MM in earnings. Extrapolate this to a full year, giving annual earnings of $5.2MM and you have: $5.2MM earnings / 20MM shares O/S x 28 TTM P/E multiple = $7.28 per share, listing on AMEX or on NASDAQ Small-Cap.
I'm not even including the additional earnings that should come from Ko-Vac Systems, Global Oil Tools, or Libya! In my opinion, including the addition of the aforementioned earnings, I see shares of Grifco trading at $15 to $20 per share on AMEX or NASDAQ Small-Cap -- a 5000% increase -- in about a year (or less). If I had more money, I would buy some more, but I'm already in and holding! Are you??
Also, understand I've not even mentioned the CTTI spin-off and subsequent share dividend distribution! This is icing on top of this delectable cake.
Been_Burned_Before
At $1.00 and below is when we were pumping and several made note of it.. Now when is a pump,, a pump and when is it followed by a dump.. The following post tells a story all should read if they want to know.. Hank
GFCI..$0.00001
For those that do remember,, This was one of the more heated opinion scams tried upon VMC posters.. We all at one time or another owned this puppy.. The last post was made by someone that fell for GFCI hook line and sinker.. Others lost thier retirements and homes.. This Pump and Dump was one of the best I have ever seen.. Hank
========================================================
Posted by: 10 bagger Date: Sunday, November 13, 2005 1:05:39 AM
In reply to: back2basics who wrote msg# 647 Post # of 11665
GFCI...
Now I find myself in dog fight and I really don't see any reason for it....
Back2basics wrote..
Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
From 10bagger: "A better service to investors would be to boycott this board and make the company release information that is factual,"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
You're kidding, right? Do you really believe boycotting this board will influence Dial one iota?
I can't defend GFCI's peculiar way keeping investors informed. I didn't put a lot of money in GFCI because I saw them as a slick PR outfit. I did it because I know the oil field and oil field tools GFCI is ABSOLUTELY on the right track to become a player in the industry.
10bagger, you want a boycott? You won me over. I'll not post another shred of my DD on I-Hub. I-Hub regulars can read Dr. Bill, lentiman, 10bagger, and jtomm to glean the kind info they yearn for. I'll be back to call those that make what I see as distortions. Se you on RB for real DD.
B2B,,I don't even have a dog in this fight,, Sold all my shares long ago.. No one has ever critizied your right to explain or relay information on GFCI.. Your expertise in the oil patch is well documented and I will take that on face value as being true.. Your analysis of GFCI is also the opinion of many and that has come from experence or having reliable sources.. In most instances this is enough for any DD.. But in the case of a company that acquires a shell and uses the shell paper to acquire other companies,,, It would be prudent for all the mergers have a paper trail.. As of yet other than the first release touting earnings none with any numbers have appeared.. We hear about purchase of common made by the company and outside investors yet no fillings have been made on either.. we hear of companies being acquired but no fillings have appeared..8k's,13d's?? We hear of possible problems with the shell that was merged into but not even a filling of the merger has appeared.. The products or services of GFCI may be all as they say but they might not of yet be the property of the company of which you are a shareholder... If they were a filling should of been made if for no other reason than to show exchange of ownership.. Sure this is a pinkie but with the numbers that were in the first release explaining the structure of GFCI, this pinkie is approaching 100 mil in sales per year... A company of that size should at least be on someone's radar screen or at least made a filling some where.. As of yet I'm still from MO... where's the beef or in this case where is the evidence from someone other than GFCI or the PR firm that this Mini Conglomerate actually exists... The part's may all be there but so is the Brooklyn Bridge,, Does any one want to buy a bridge??
"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't."
B2B,,With this statement I have a dog in the fight.. All of us on these I-hub that pertain to investing in small companies try to help each other,, The dialog on the GFCI board during the past 35 postings were more of a pissing match than a relay of factual information.. Outlandish statements have been made on both sides of the isle about GFCI and I felt a statement or release by GFCI that would support or dispute these pissing matches was needed... To continue spinning yarns about a company that no one has any information in print is dangerous to the value of this or any other forum.. I am sure that GFCI monitors this and any other sources of information on GFCI.. If they can put out a release about an Al Haig show they could find two sentences letting shareholders know how many shares are outstanding... We had a release that gave us a release date for an earnings release.. But maybe a release giving us a release date as to why the last release date on an earnings release was not released would be appricated..Sounds like a release from GFCI.. Since you used some of my post in yours, a quote from that same posting is in order...
" Actually as a contrarian investor it just doesn't get any better than this... A keystone cops movie did not have as many road blocks as the reasons for not presenting investors with finanicals as GFCI.. this just could not of been scripted by any one other than the three stooges and as far as we have been told management is only two deep...It could be that all is true but with out financials, I'm from MO.and what I see just doesn't cut it."
If as you say you have a lot invested I really do wish you luck,, but that in itself is a sad commentary,,, Luck is no reason to invest..
hank
Posted by: 10 bagger Date: Sunday, November 13, 2005 1:05:39 AM
In reply to: back2basics who wrote msg# 647 Post # of 11665
GFCI...
Now I find myself in dog fight and I really don't see any reason for it....
Back2basics wrote..
Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
From 10bagger: "A better service to investors would be to boycott this board and make the company release information that is factual,"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't.
You're kidding, right? Do you really believe boycotting this board will influence Dial one iota?
I can't defend GFCI's peculiar way keeping investors informed. I didn't put a lot of money in GFCI because I saw them as a slick PR outfit. I did it because I know the oil field and oil field tools GFCI is ABSOLUTELY on the right track to become a player in the industry.
10bagger, you want a boycott? You won me over. I'll not post another shred of my DD on I-Hub. I-Hub regulars can read Dr. Bill, lentiman, 10bagger, and jtomm to glean the kind info they yearn for. I'll be back to call those that make what I see as distortions. Se you on RB for real DD.
B2B,,I don't even have a dog in this fight,, Sold all my shares long ago.. No one has ever critizied your right to explain or relay information on GFCI.. Your expertise in the oil patch is well documented and I will take that on face value as being true.. Your analysis of GFCI is also the opinion of many and that has come from experence or having reliable sources.. In most instances this is enough for any DD.. But in the case of a company that acquires a shell and uses the shell paper to acquire other companies,,, It would be prudent for all the mergers have a paper trail.. As of yet other than the first release touting earnings none with any numbers have appeared.. We hear about purchase of common made by the company and outside investors yet no fillings have been made on either.. we hear of companies being acquired but no fillings have appeared..8k's,13d's?? We hear of possible problems with the shell that was merged into but not even a filling of the merger has appeared.. The products or services of GFCI may be all as they say but they might not of yet be the property of the company of which you are a shareholder... If they were a filling should of been made if for no other reason than to show exchange of ownership.. Sure this is a pinkie but with the numbers that were in the first release explaining the structure of GFCI, this pinkie is approaching 100 mil in sales per year... A company of that size should at least be on someone's radar screen or at least made a filling some where.. As of yet I'm still from MO... where's the beef or in this case where is the evidence from someone other than GFCI or the PR firm that this Mini Conglomerate actually exists... The part's may all be there but so is the Brooklyn Bridge,, Does any one want to buy a bridge??
"Personally, I don't give a crap if cynical I-Hub regulars believe me or not. Frankly, I hope they don't."
B2B,,With this statement I have a dog in the fight.. All of us on these I-hub that pertain to investing in small companies try to help each other,, The dialog on the GFCI board during the past 35 postings were more of a pissing match than a relay of factual information.. Outlandish statements have been made on both sides of the isle about GFCI and I felt a statement or release by GFCI that would support or dispute these pissing matches was needed... To continue spinning yarns about a company that no one has any information in print is dangerous to the value of this or any other forum.. I am sure that GFCI monitors this and any other sources of information on GFCI.. If they can put out a release about an Al Haig show they could find two sentences letting shareholders know how many shares are outstanding... We had a release that gave us a release date for an earnings release.. But maybe a release giving us a release date as to why the last release date on an earnings release was not released would be appricated..Sounds like a release from GFCI.. Since you used some of my post in yours, a quote from that same posting is in order...
" Actually as a contrarian investor it just doesn't get any better than this... A keystone cops movie did not have as many road blocks as the reasons for not presenting investors with finanicals as GFCI.. this just could not of been scripted by any one other than the three stooges and as far as we have been told management is only two deep...It could be that all is true but with out financials, I'm from MO.and what I see just doesn't cut it."
If as you say you have a lot invested I really do wish you luck,, but that in itself is a sad commentary,,, Luck is no reason to invest..
hank
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A company partially owned by State Rep. Allen Fletcher (R-Tomball) is caught up in a white-collar crime investigation. Texas Monthly has the story:
A federal civil complaint filed last fall by the U.S. attorney’s office alleges that a company affiliated with Tomball state representative Allen Fletcher, the chairman of a House subcommittee on white-collar crime, was involved in securities fraud. No criminal case has been filed in the alleged fraud, and an attempt to confiscate more than $3 million in assets seized from the company and related parties stalled in November 2008, at which time the money was returned. Federal authorities left themselves the option of trying again, however, and spokespersons for both the U.S. attorney’s office and the FBI have declined to describe the investigation as closed. The complaint, obtained recently by TEXAS MONTHLY, together with other documents reviewed for this story, raises a question about the freshman legislator’s business dealings: How does a man like Allen Fletcher, a retired police sergeant who spent years heading a white-collar-crimes unit at the Houston Police Department, find himself in business with a group of alleged con artists?
Fletcher, who was elected to the House in 2008 representing District 130, in northwestern Harris County, owns a company called Resource Protection Management, or RPM, which provides security guards and other security services, and, until recently, sold burglar- and fire-alarm systems. In May 2007, Fletcher took on a business partner named Lois Newman, who, through her company, NuTech, purchased half of RPM. Acting on a tip received that same spring, the Harris County district attorney’s office began investigating NuTech along with another company that Newman once helped direct, Grifco International, and began building a case that both companies were being used for a stock manipulation scheme known as “scalping.” Investigators concluded that Newman and her son-in-law, a stock promoter named Evan “Nick” Jarvis, and others were artificially inflating the prices of NuTech and Grifco stock and benefiting from sales of those stocks that they did not disclose to shareholders. (This type of scam is also known as a “pump and dump.”) Both companies are penny stocks that trade through brokerage vehicles commonly known as “pink sheets,” which operate largely below the radar of federal regulators.
In the case of Grifco, which purported to be an oil field equipment firm, the stock was allegedly inflated in part through a series of bogus press releases about Coil Tubing Technology, a company Grifco had recently acquired. According to the federal complaint, Grifco stock promoters falsely claimed that the company had developed and shipped an improved type of jet motor, when in fact work on the motor was still two years from completion. The complaint also identifies a series of press releases that Nick Jarvis, the stock promoter, prepared for NuTech. Although Fletcher and RPM are not mentioned by name in the complaint, TEXAS MONTHLY has reviewed the NuTech press releases cited by the complaint, and virtually all of them tout Fletcher’s alleged accomplishments and promising developments at RPM. In particular, NuTech flogged a new type of burglar alarm system known as “dual notification,” which was said to use proprietary technology developed by RPM to drastically reduce police response time. Fletcher’s entry into politics was also used as a selling point; in one press release, NuTech informed potential stock buyers that Fletcher had decided to run for state office, noting that he had the support of Dan Patrick, the Republican state senator and popular radio host from Houston.
According to the federal complaint, the press releases, in conjunction with a spam campaign, helped boost NuTech’s stock to $3.50 by August 2007, by which time Newman had issued millions of shares to herself and to her son-in-law Jarvis. Though he was urging investors to buy NuTech stock at the time, the complaint alleges that Jarvis quickly sold his own stock for about $950,000. According to the complaint, Jarvis then kicked some of the proceeds back to Newman. Jarvis also made about $2 million on sales of Grifco stock. According to the complaint, investors should have been informed that Jarvis was selling large volumes of the same stocks he was promoting, and that insiders in the two companies were being issued millions of shares of stock.
Things began to unravel when Coil Tubing’s chief financial officer, Edwin Leonard, became suspicious about his new business associates. According to a search warrant affidavit filed by the Harris County district attorney’s office, Nick Jarvis allegedly hired an acquaintance to stage a robbery of Leonard at his home, apparently in the hope of recovering a laptop containing the company’s accounting files. Leonard went to the police. On December 18, 2007, investigators raided the homes of Jarvis and Newman, and seized property and bank accounts controlled by the two. Officers also arrested Jarvis on a robbery charge. When Harris County authorities decided to turn the case over to federal investigators, the robbery charge against Jarvis was dropped. To date no federal criminal charges have been filed against anyone involved in the investigation.
Asked last week about his involvement in the alleged scam, Fletcher said that he had no knowledge of any illegal activities involving his company. “I’m the victim here,” he said. Fletcher said that he knew press releases were being issued about his activities, but he denied actively participating in their drafting, despite the fact that most of them contain quotes from Fletcher himself. One of the releases refers investors to an audio interview that Fletcher recorded on a Web site that promotes penny stocks. Fletcher acknowledged doing the interview, which was posted on November 1, 2007, six weeks before the raid on Jarvis and Newman, but he said that everything in the press releases and the interview was accurate and factual.
“I thought Nick could take my company and take my story and raise money legitimately and help us turn our company around,” Fletcher explained. Fletcher said RPM had never recovered from losing its biggest contract, providing security at the Enron complex in Houston, and that the company was in serious financial trouble when Jarvis approached him. Fletcher said he knew that Jarvis was building an enormous new house in an exclusive Montgomery County subdivision, and that when Jarvis pulled up to RPM’s offices in Tomball to pitch him on the NuTech deal, he was driving a $100,000 Mercedes-Benz. “I’m telling’ you I didn’t have a clue he wasn’t legitimate,” Fletcher said. “He had all the legitimate trappings; why would I think that Nick wasn’t?”
In fact, there were, or should have been, warning signs about the NuTech deal from the start. Jarvis is a felon who served time in the penitentiary for burglary and drug convictions in 1995. Fletcher, whose company performs background checks on prospective employees for clients, told TEXAS MONTHLY he had had no idea that Jarvis had served time in prison. He conceded that he or a business partner had found a criminal history for Jarvis when they checked him out, but that Jarvis had explained away the charge, and that he never really followed up on the issue.
But Fletcher had crossed paths with the Jarvis family before, and, by his own account, had doubts about their business endeavors. Fletcher said he first met Nick Jarvis at a Tomball bowling alley owned by Nick’s brother John. Nick managed the bowling alley, and Lois Newman ran the counter. John Jarvis had incorporated a series of penny stock companies in Montgomery County over the years, hawking a variety of ventures: independent films, casinos, online gambling—even a data center to be built in a renovated underground nuclear fallout shelter. Fletcher told me that in 2004, John Jarvis brought him a business proposition, offering to help him raise money from investors by merging RPM into a publicly traded shell company known as LitFiber. It was essentially the same type of deal that Nick Jarvis would bring Fletcher two and a half years later. Fletcher said that he got out of the deal with John Jarvis because he didn’t like the way he was promoting the new enterprise—issuing press releases in support of the stock that Fletcher considered false, or at least greatly exaggerated. In other words, Fletcher now says he felt he was being drawn into a scam very similar to the one described in the federal complaint against Grifco and NuTech. In fact, according to the Harris County search warrant affidavit, the same shell company John Jarvis offered to Fletcher was eventually used to acquire Coil Tubing. (John Jarvis, who could not be reached for this story, has also had trouble with the law, having been convicted of felony check forgery in the late eighties. Fletcher told TEXAS MONTHLY he was unaware of this fact.)
Why would Fletcher agree to do business with Nick Jarvis if he felt he had just been burned in an almost identical deal by his brother John Jarvis? At the time Fletcher said yes to Nick’s deal, he was also being sued by a businessman named James Buchanan in Massachusetts, who claimed that Fletcher and a Miami investment broker named Mychal Jefferson had tried to defraud him in yet another effort to raise capital for RPM. Fletcher said that Nick told him he was no longer doing business with his brother John, because the two had had a falling out. “He says, ‘Look, I know you’ve been burned. You walked away from John’s deal. And I know that you got burned on the Buchanan deal. The reason both of those deals [came up] is because your company is prime for this, and because of your technology for the patent-pending methodology for the dual notification. I’m telling you that if you get with somebody that’s legitimate, like me, we can make this happen.” Fletcher said that he and his business partner had the deal vetted by an attorney and decided to go ahead with it. The contract Fletcher signed was countersigned by Lois Newman, who was handing out shoes at the bowling alley when Fletcher first met her. Her title now was “NuTech president.”
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Cross post..
Victim of the crew with website
She would probably be interested in the information we have.
http://www.claudeeldridge.com/
I don't have much on Trans Global any more since I didn't save any pages before the website was removed.
She's looking for e-mail about the crew.
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Posted by: 10 bagger Date: Thursday, March 22, 2007 12:38:42 AM
In reply to: None Post # of 11662
I'll go out on a limb and say that this statement will not come true... hank
I see shares of Grifco trading at $15 to $20 per share on AMEX or NASDAQ Small-Cap -- a 5000% increase -- in about a year (or less). If I had more money, I would buy some more, but I'm already in and holding! Are you??
Posted by: Been_Burned_Before
In reply to: None Date:12/19/2005 3:09:27 PM
Post #of 9413
Grifco is a righteous investment!!
This has come as a completely and pleasantly shocking surprise. It is very interesting, to say the very least. Very interesting, indeed! I am exceedingly glad that I had been adding to my position.
What's even more interesting, though, is the fact that when Grifco International first went public, they had 20MM shares O/S, 3.5MM of that consisted of public float. And this was still true as of mid-March 2005, which means that the purchase of Ko-Vac Systems and that JT Venture with C-Sap did not increase share count. But then Grifco bought Coil Tubing Technology (CTT) and Global Oil Tools, and this brought some change!
As of August 13, 2005, according to Kenner's personal visit to Grifco and some discussion with Dial -- Grifco had a total of 31,571,429 shares O/S. The only publicly known change after this that could have affected the share count was the Lyamec purchase of 6MM shares, which brought the total count to 37,571,429 shares O/S.
As for the public float: There are about 4.4MM shares. In fact, if you want to see the public float in exact numbers (thanks to Cleverrox), look at the latest One-Time Security Position Report issued by the Depository Trust Company on July 13, 2005 (it can be found on rowdyrhino; look for a pdf, gfci_float). According to that report, the public float only consisted of 4,408,898 shares at that time.
Now, Grifco "and its board of directors have decided to embark on an aggressive initiative" to buy back "up to 20,000,000 shares." I must confess that even the most defective logic tells me this share buy back plan includes shares that may have at one time been restricted but are now free-trading.
Further, since "Grifco has committed to buying an initial 1,000,000 (One Million) shares GFCI in the open market . . . effective immediately," I imagine that Grifco is prepared to take the share counts to levels not seen since first going public over a year ago.
What's most promising about the plan is this: The share buy back program "will continue until the price of our stock, in management's opinion, reflects its true value based on a price to earnings ratio that would be normal and fair to our industry." Today, the average trailing twelve month (TTM) P/E multiple in the Oil & Gas Equipment & Services industry -- that is, for the 44 companies within this sector that actually have a P/E -- is about 48.
In my opinion, though, a purely mathematical average is not a true representation of "normal and fair" because averages tend to be skewed by extremes. A far more representative value for "normal and fair" would be the median, which is that particular value for which exactly half the companies in this sector have a multiple that is higher (or a multiple that is lower, depending on how you want to look at it).
Today, the median value for TTM P/E multiple in this sector is about 28. This is what I feel would be a "normal and fair" value. Even Boots & Coots (WEL) has a value of 36! Granted, Boots & Coots currently lists on AMEX. But Grifco will list on AMEX or NASDAQ Small-Cap soon enough!
Given these facts, let's see where the potential lies. Let us assume Grifco does in fact buy back all of the 20MM shares approved by the board, leaving roughly 20MM shares O/S. Additionally, let us assume Grifco only earns what it earned the last six months in 2004 -- $2.6MM in earnings. Extrapolate this to a full year, giving annual earnings of $5.2MM and you have: $5.2MM earnings / 20MM shares O/S x 28 TTM P/E multiple = $7.28 per share, listing on AMEX or on NASDAQ Small-Cap.
I'm not even including the additional earnings that should come from Ko-Vac Systems, Global Oil Tools, or Libya! In my opinion, including the addition of the aforementioned earnings, I see shares of Grifco trading at $15 to $20 per share on AMEX or NASDAQ Small-Cap -- a 5000% increase -- in about a year (or less). If I had more money, I would buy some more, but I'm already in and holding! Are you??
Also, understand I've not even mentioned the CTTI spin-off and subsequent share dividend distribution! This is icing on top of this delectable cake.
Been_Burned_Before
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