Replies to post #2411 on Grifco Inc (GFCI)

[10 bagger]

GFCI..

It appears that they have left themselves no wiggle room...but if they own 88% why are they only spinning off 75%..The cash deal was only $20,000,000.00,, $60,000,000.00 is what BBB said it could be worth as a stock deal because he said company's pay 3X the value in stock....It's his words,, not mine...hank

SPRING, TX--(MARKET WIRE)--Mar 30, 2006 -- Coil Tubing Technology, Inc. ("CTT") (Other OTC:CTBG.PK - News) today announced May 1, 2006, as the record date for the previously announced spin-off of the Company from its parent company Grifco International, Inc. (Other OTC:GFCI.PK - News) ("Grifco"). It is expected that the spin-off will be accomplished through a distribution of approximately 75% of the outstanding shares of CTT to the Grifco shareholders. Grifco shareholders as of the record date will receive a pro rata distribution of the Company's shares when the spin-off becomes effective.

The distribution will occur when the Company files a Form 10-SB with the Securities and Exchange Commission and it is declared effective. The 10-SB is expected to be filed in April 2006. In order to participate in the CTT spin-off, a shareholder of Grifco must own their shares at the close of trading on May 1, 2006.