Replies to post #10190 on Grifco Inc (GFCI)

[Been_Burned_Before]

cyofish: I believe you!

I have documentation that unequivocally supports and defends the fact that Grifco ONLY had $300k in sales for ALL of 2004, so HOW, pray tell, can the Company tout that it had earnings of $2.6 million on sales of $7.5 million in *BUT ONLY* their last six months of that same year, as publicly proclaimed by way of PR that issued on March 3, 2005? Hello!

The ONLY thing that existed back then was Advanced Oil Field Technologies, Inc. It had 2 manual lathes and nothing else. They did NOT get their new CNC's (2 of them) until early the following year in mid-January, I believe. More, they hadn't acquired that second subsidiary, Ko-Vac, until early January 2005. And CTT was in March 2005. Hello!

Where could all of that reported revenue or income have come from? LitFiber? I don't think so! Any ideas??

Been_Burned_Before