Grifco Inc (GFCI)

[zagdad]

Han, we may have a mixture of ideas here. I have a feeling that we are confusing a few audits. We have the ever running GFCI audits which ran into snags based on the LBTI'Jarvis failures/deficiencies; then we have word of a forensic audit team from the East which has been asked to see if there are ways to work around the problems/fix them to get GFCI back on track; and finally we have the audit work for the new CTBG company that's required before the SB filings, Q&A if necessary, eventual approval of the spin off T&Cs, and finally the long awaited announcement to the world. It is the later one that Dial has VERY recently suggested is about to begin. The time for each step is viable of course and certainly I am only guesstimating that - did some auditing once upon a time and it is usually more than a few days - one day to find the men's room, etc. If the shell was super clean then they are likely in good shape as Mr. Swinford has said he keep excellent records....and that's great.

I would assume that the new CFO for GFCI would also be involved at least until the split - wonder if there will be any share management roles? Any body know for sure?

As for Dial saying "things are on target"....did you get his understanding of what that was time wise with specifics?

zagdad