Grifco Inc (GFCI)

[cleverrox]

Reading the June 3 statement by Lyamec, I wonder if they are posturing, or if they really had some kind of agreement with Grifco they could sue them for. And what is this "tens of millions" crap? I thought the Global Acquisition was going to cost $4-$5M. Press release Feb 17 says $4.5M.

Grifco International Signs Letter of Intent to Acquire Global Oil Tools; LOI Proposes $4.5 Million Acquisition
Thursday February 17, 7:00 am ET

In reply to Jim Dial's statement on the furtherance of an acquisition of Global Oil Tools to The Lyamec Corporation, that Grifco will still continue to gather momentum in bringing a buyout of Global until it is successful; a Lyamec spokesman addressed this point in a private conference with its participants by saying, " I am truly amazed that Jim Dial has lost such an opportunity, and what is more plausible, is that he added the weight of millions if not in the tens of millions on the cost to his company to achieve such a goal. It was not a logical decision to anyone here, and would probably and ultimately lead to quite a few upset investors". He went on to add," We are also looking further into legal ramifications by Jim Dial's performance on this issue, going as far back as mid April, 2005 that we are now looking into."