Grifco Inc (GFCI)

[Been_Burned_Before]

Dr. Bill: I have a theory!

In case you do wonder, I am addressing Kcflip (Kenner) with the following monologue -- that is, whenever I use "you" or derivatives thereof.

By now, some of those original insider restricted shares may have been freed up on Nov 19, 2005, the anniversary date. If you are right about the 60% insider portion (I don't remember you mentioning this in your summary), then hurray for you! 60% of 31.6MM shares O/S (this was the share count back in August) is just shy of exactly 19MM shares! That would then mean that exactly 8MM shares are owned by the principals.

Now, if 8MM shares are owned by principals, then exactly 10MM shares were owned by insiders back in November 2004. This could very well mean that about 10MM shares recently became available as float on the November 19 anniversary. This explains why Grifco does not show up on REG SHO with so many shares owned by us outsiders.

This moment, then, we might very well have 37.6MM shares O/S, with 8MM of that being held as restricted shares to the principals and 15MM of that being held as restricted shares to insiders and 14.7MM of that being held as float.

Been_Burned_Before