Replies to post #2618 on Grifco Inc (GFCI)

[Been_Burned_Before]

Dr Bill: If you want that kind of fair . . .

Go invest in a fully listed security on a real exchange. It really is that simple!

You said:

"That's why the SEC will NEVER imo, OK a past ex-dividend date without at least having [sic] the shares trade a few days minimum after pertinent information is available to ALL interested parties."

You make the common mistake of actually believing that their full intention is to have an Ex-Div Date at all. So what if there isn't one? What if an Ex-Div Date NEVER gets assigned, given the atypical method that is likely being followed? Is it too far fetched to consider that an atypical method means just that -- an atypical method? [mere rhetorical questions]

You actually believe Coil Tubing Technology Holding, Inc. was purchased last March and fully integrated into Grifco's entire business structure? Well, it wasn't! CTT was always kept as a wholly owned subsidiary, before it was spun out and reverse merged with IPMC Holdings. Do you really believe GFCI's share price EVER reflected the true value of the CTT purchase? And if GFCI's share price NEVER reflected that value, how can any value be taken back out of GFCI's share price? It can't! You just can't go and get something from nothing.

This is NOT like eating a huge breakfast and then putting out something altogether different some time later; no, this is a lot more like putting on a tux and then taking that tux back off once the dinner party is all over. In most generic terms, the two are extremely similar -- one thing goes in, and then one thing comes out. But in distinct terms, the two are more than worlds apart.

By the way, getting this stock dividend is NOT about "someone who knows someone," NOR is it about someone who "can get the CEO's cell phone numbers." No, it is all about this: Being a shareholder on record AS OF CLOSE OF TRADING ON MONDAY, MAY 1, 2006. Of course, in my humble opinion, even this does have a very slim chance of being changed by the NASD, though. Now, I am NOT claiming that it will be changed, but it might be. One never knows for sure, which is why I continue to HOLD.

That's all folks!

Been_Burned_Before

[best2listen]

Here's a link to the law under discussion.

Link to 240.10b-17 "Untimely announcements of record dates"

I'm not an expert but I think Grifco complies. I have emphasized both the possible sections (CTBG dividend shares registered or not registered) that I think could be relevant in the debate here about the CTT share distribution:

http://www.law.uc.edu/CCL/34ActRls/rule10b-17.html

(b) Notice shall be deemed to have been given in accordance with this section only if:

(1) Given to the National Association of Securities Dealers, Inc., no later than 10 days prior to the record date involved or, in case of a rights subscription or other offering if such 10 days advance notice is not practical, on or before the record date and in no event later than the effective date of the registration statement to which the offering relates, and such notice includes:

(i) Title of the security to which the declaration relates;

(ii) Date of declaration;

(iii) Date of record for determining holders entitled to receive the dividend or other distribution or to participate in the stock or reverse split;

(iv) Date of payment or distribution or, in the case of a stock or reverse split or rights or other subscription offering, the date of delivery;

(v) For a dividend or other distribution including a stock or reverse split or rights or other subscription offering:

(a) In cash, the amount of cash to be paid or distributed per share, except if exact per share cash distributions cannot be given because of existing conversion rights which may be exercised during the notice period and which may affect the per share cash distribution, then a reasonable approximation of the per share distribution may be provided so long as the actual per share distribution is subsequently provided on the record date,

(b) In the same security, the amount of the security outstanding immediately prior to and immediately following the dividend or distribution and the rate of the dividend or distribution,

(c) In any other security of the same issuer, the amount to be paid or distributed and the rate of the dividend or distribution,

(d) In any security of another issuer, the name of the issuer and title of that security, the amount to be paid or distributed, and the rate of the dividend or distribution and if that security is a right or a warrant, the subscription price,

(e) In any other property (including securities not covered under paragraphs (b)(1)(v) (b) through (d) of this section) the identity of the property and its value and basis for assigning that value;

(vi) Method of settlement of fractional interests;

(vii) Details of any condition which must be satisfied or Government approval which must be secured to enable payment of distribution; and in...
________________________

note: rest of section not copied

Hope this helps
best2