Contrary to all the disinformation and false narratives, Grandex is very, very much real.
"Factoring" loans is a very, very lucrative business, as are "payday" loans- both of which Grandex does and is doing as a direct lender.
Half the OTC stocks I've ever followed and read their SEC filings in detail, they all use "Factoring Loans" to help their cash low situations, make payroll, get through cash "crunches" etc. Interest rates are high, but cash is king as they say- so they "factor loan" against their in-coming receivables.
Gifa is now doing this via the Grandex Finance purchase and buy-out. Adding direct lending to their already lucrative loan brokering business.
And Grandex is expanding already, a new branch just opening on a nice part of the island, and we have photos of the new branch already.
It's very good, and one of the items they're "rolling into" Gifa Inc, as we speak. It's part of the delay, as the Grandex purchase/merger was only completed in Jan of 2019, this fiscal year. It takes time to normalize all their accounting to U.S. dollars, etc.
"In addition and on January 16, 2019, the Company’s subsidiary, Gifa Holding, completed the following acquisition:
Gifa Holding acquired (the “Grandex Acquisition”) nearly all of the outstanding capital stock of Grandex Finance Limited, a company domiciled in the Turkish Republic of Northern Cyprus (“Grandex”). The Grandex Acquisition was completed as a cash purchase of the Grandex stock. Grandex is based in Lefkosa in the Turkish Republic of Northern Cyprus. Grandex is in the direct lending business of providing payday loans, short term loans, and installment loans generally in the Turkish equivalent of up to $10,000 (U.S.) in the Lefkosa market area.
Grandex offers its customers fast loan processing without application fees or late payment fees and with average monthly interest rates of about 30% on outstanding balances. Customers are also offered several repayment options and may be able to qualify for higher loan amounts as well. "
End quote.
Grandex is real, and augments the Gifa branch/division known as their "Financial consulting" division (their loan brokering business essentially) as seen on prior tax documents, their largest and most profitable division, Grandex augments it in a huge way.
Grandex, like Gifa Inc new headquarters, the main office (there are other branches) is located in an immaculate and up-scale newly built outdoor shopping promenade with many designer fashion stores, a major bank, medical offices and law and professional offices on the 2nd floor, and trendy loft apartments above that. A very clean, very up-scale and newly built development- and Kisa put the Grandex main office right on that Blvd. It's nice as all get out.
And Grandex is indisputably "real", despite all the misinformation and pure stockbullshit, GIFX is 100% as real as it gets.
We know what we own- and no amount of continual misinformation or other false narratives will change that reality, not an iota for me.
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