Just talked with Scottrade because they are asking me to pay back some money on CTBG shares I got in the spinoff and later sold. The reason why, According to Scottrade, is due to Grifco not providing enough shares to the Transfer Agent to cover the spinoff of 1.89 shares of CTBG for each share of GFCI held on May 1st 2006. The transfer agent gave GFCI until COB today to make up their shortfall, which, according to Scottrade, they did not do. Although there appears to be some confusion, my Scottrade agent tells me the Transfer Agent has or will reduce the spin-off of shares from 1.89 to 1.29387 shares per share of Grifco (GFCI). That most probably means that many are going to have the shares they received reduced by .59613 shares per share of GFCI then held. It also means that some shareholders of GFCI who did not get their fair share of the spinoff will probably be receiving the difference in their accounts up to the 1.29387 to 1 ratio. Those who received shares based on the 1.89 to 1 ratio and sold them, as I did, will have to pay some $$$ back or buy shares sufficient to make up the shortfall of shares sold. Methinks there is going to be some turmoil tomorrow with CTBG shares. Any guesses as to what the SEC is going to do about this little deal. ??? Will CTBG go up, down, spin-around, or die??? Hey Jimmy, drop dead. Hey Jerry Help!!! Hey SEC how about giving we shareholders some protection!!! Hey! Hey!! Hey!!! Somebody, anybody, how about a PR to tell us the straight of what is going on. SEC? GRIFCO? Coil Tubing? Andybody???
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