Grifco Inc (GFCI)

[Dr Bill]

I am really starting to not trust this company at all. I have logged over 3.5 hours of telephone conversations, with the CEO, Mr Dial, on 4 different occasions, and virtually none of the pieces are fitting together. Cash position is too low. I was told that financials would be out by the end of Sept and there is no word yet on those.

My opinion is that the company has greater than 75% of being a complete scam.

An explanation would be: terrible management leading to a huge cash drain, and Dial and Griffith putting together a scheme to take over a pink shell, and then sell shares to recieve a cash infusion to hopefully be cobbling some sort of sellout deal. Lyamec could have gotten scammed just as easily. I see and hear some speculation that their 3MM investment makes individual investors somehow safer. Tons of banks lost tons of $$ on Enron. Rich people get scammed too. Beginning tomorrow I am going to start a very vocal campaign to encourage management to start talking.

Silence like this is just not warranted, IMO.

I own 25,000 shares.

Bill