bbb message 5089 RB : You might also keep one more thing in mind: It might take a while before you can actually trade any of the spin-off, dividend shares.
bbb 5094 RB : The new CTBG shares -- that is, the 75MM dividend shares that will belong to GFCI shareholders as of some record date -- will most likely be restricted shares in the new company. That is exactly how most all Reverse Mergers work! Granted, Dial and company could have applied for share registration as a part of the spin-off process, but there are no guarantees.
In the end, CTBG will most likely have 85.721MM shares issued and outstanding. 10.721MM of these shares will trade as float, while 75MM of these shares will remain restricted as those dividend shares awarded to all GFCI shareholders -- i.e., GFCI's principals, insiders, and floaters (outsiders).
bbb RB 5096 : If the shell company is already listed and trading on a Bulletin Board, the registered or "free trading" shares can continue to trade. The new company can do a private placement immediately. To trade the newly issued shares, the new public company must first register these shares with the SEC. This can take 3 to 4 months and normally requires the filing of a Registration statement with the SEC (Form SB-2 or Form SB-1).
I would surmise that since BBB is the "only" (might be one or two more) sunshine up the ass of Jim Dial person, that he still might be getting information fed to him through unofficial channels. This conversation starting at about 5080 on RB is rather telling at what exactly they plan on doing. Or might plan on doing.
I would like to hear some longs POV as to whether or not they think this is a good idea and if they think that this is exactly the reason why Grifco has failed to rise into what some people are saying is "imminent news" of financial information and actual dividend.
Thanks
