Replies to post #6216 on Grifco Inc (GFCI)

[mrdmrd]

LEN: Is it hearsay if he has said it to multiple people at multiple times who can testify what he said when - and no doubt have written notes to support their statements??
Just asking - I am not a lawyer.
Bull

[andy08057]

okay belabored enough. you are right. There are millions of extra shares out there that JD and company printed and sold.

[Been_Burned_Before]

Len: It's not hearsay . . .

. . . when the official share count is specifically expressed in the presence of four (4) corroborating witnesses! It does seem that you do not understand the legal distinction between the words "hearsay" and "testimony".

"Hearsay" is defined as: "John told me that Jim said such and such and such."

"Testimony" is defined as: "I personally heard Jim say such and such and such."

What the four (4) corroborating witnesseses can tell a third party or an attorney or a court of law is NOT hearsay. That would essentially be pure, unadulterated testimony.

Therefore, if I was to tell this board that Jim had told me the official share count is but only "39 and change," then that is NOT hearsay. However, if you, a third-party reading the board, goes to someone else, a fourth-party, to say that Jim said that the official share count is but only "39 and change," then that IS hearsay. Get it?

Been_Burned_Before

[cyofish]

There is 200,000,000 authorized shares of Grifco. This is the maximum amount of shares Grifco can issue without having to re-file any documentation. All it would take is the approbal of the Board. Guess what, Dial is the Board. So basically, Dial can issue up to 200,000,000 shares of Grifco whenever he decides to.

[best2listen]

BBB is right on this one

As of March 30,2006, Grifco published the share count in a legally binding PR:

http://biz.yahoo.com/iw/060330/0115435.html

From the PR:

"Grifco shareholders will receive 1.89 shares of CTT for every one share held in Grifco as of the record date, up to 75 million shares. Upon completion of the spin-off dividend, CTT will have approximately 85 million shares issued and outstanding."
________________

Since every share of Grifco gets 1.89 shares of CTBG in the 75 million share CTT distribution, 75 million CTBG ÷ 1.89 CTBG/GFCI = 39.86 million shares of GFCI outstanding.

CTBG ~ 85 million OS
GFCI ~ 40 million OS

True, we can't know whether any shares have been issued since the PR and the average daily volume has increased. Even if the CTBG distribution hasn't happened, the numbers were published. There has been no update to this material information.

best2