Value Microcaps Motherboard

[10 bagger]

From 5/30/2004

This came off a canadian message board..

The LTBI Vapour Trail
You may recall Litfiber from a posting here on April 26th. In that posting I mused that perhaps the bubble was back, because Litfiber seemed to be nothing more than a series of press releases around a new P2P VoIP product called iTalk2U. Well, the stock price must have dropped too low again, because this showed up today:

LitFiber Releases iTALK2u, Free to Low Cost VoIP Calling Worldwide; $15 Million Net Revenue Product

Highlights:

iTalk2U is released. Unfortunately not, it seems. The link on their website is inactive, so it's impossible to download. Doing a view source on the page reveals that the URL is http://www.litfiber.com/italk/downloads/italk_setup_09a.exe. The download file isn't actually on the server yet.
They expect $15 million in revenue this year from this product. How? It's free!
They're prepared for a million downloads in the first month. Hard to tell. See point #1.
H.323 and IM seems to be the feature set. Too bad. Without SIP it will be still born.
I'd like to see this thing -- really, I would. I'd like it to be as good as they say. But so far, it just seems to be the Keystone Kops Softwarez Company, and a group of not very savvy stock manipulators. Where's the beef guys?

5:52:22 PM
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Posted: Oct. 22 2004,09:48
LAFAYETTE, LA, Oct. 21, 2004 (MARKET WIRE via COMTEX) -- LitFiber Inc. (OTC: LTBI) informs shareholders today that an announcement regarding the continued operation of the company must be postponed due to circumstances surrounding ongoing revision of the company structure by senior management.
The announcement has been rescheduled for dissemination on October 29th at 5:00 P.M. Central Daylight Time (CDT). The conference call for shareholders will be scheduled for a later date TBD (To Be Determined). Management regrets any inconvenience caused by the rescheduling.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.



Contact:
LitFiber, Inc.
Investor Relations
Jim Dial
206.350.0002

Management of new company....GFCI

Jim Dial - President

Jim Dial has a twenty year track record in the oil and gas exploration service industry, joining The Brandt Company in 1977, serving as Manager of Technical Services, Research and Development Manager, and Vice President Industrial Division. During his tenure, Dial participated in the acquisition of numerous companies both domestically and internationally. Since leaving Brandt, Dial has owned, operated and sold multiple private companies; presently, Dial is principal owner and operator of three business ventures.

Jerry Griffith - Director of Operations

Jerry M.Griffith was raised in an Oil Patch family, having served as a roustabout, roughneck and rig builder in his youth. After earning B.A. and graduate degrees, Griffith decided to return to the oil patch as a mud engineer for IMCO Services, a Halliburton company. IMCO was a springboard to a General Manager position in Lafayette, Louisiana with Hunt Oil Tool Company, where Griffith established Hunt as a worldwide distributor for shock tools and drilling jars. After 10 years with Hunt Oil Tool Company, Griffith started Grifco Inc. and Grifco International Inc. Griffith has designed several oil tools and received patents for use by coil tubing service companies. Grifco patents and trademark have an excellent reputation in the oil and gas industry. Griffith remains active in the day-to-day operations of Grifco, developing new tools and designs while maintaining a strong relationship with its worldwide clientele.

Mack Griffith—Mack has been with Grifco from inception, beginning as a shop hand and tool repairman, resulting in Mack’s involvement with tool design and manufacturing. With a complete knowledge tool inventory, Mack entered the field as a tool supervisor. Mack’s supervisor experience extended from the Gulf Coast of Mexico to Venezuela in operations at Grifco International de Venezuela, with frequent trips to Europe as a sales rep.

Doyle Eastep—Eastep has worked with Grifco in a sales and supervisory capacity for the past 12 years. Doyle headlined Grifco’s operation in Venezuela for 6 years prior to returning to the states as a sales rep. Eastep developed a vast knowledge of Grifco’s tool catalog while functioning as a supervisor and consultant. Doyle has some 22 years in the oilfield experience and is a graduate of Louisiana Tech University.

Wendell Taylor—Wendell Taylor has 26 years experience as a machinist. Wendell has manufactured tools for the drilling and production area of the oilfield. Since joining Grifco, Taylor has been responsible for all manufacturing and tool changes. Taylor’s is highly regarded by Grifco clients, and knowledge and commitment to quality is a great asset for Grifco International.

Bill Bellenger— Bill Bellenger spent 25 years with Halliburton Energy Services in a variety of management positions before joining Grifco International. Bellenger’s management skills and industry knowledge have been an integral part of formulating Grifco’s internal structure and company protocol.