Replies to post #10426 on Grifco Inc (GFCI)

[cyofish]

smartest thing for JD to do is to pay-out cash in lieu of dividend. CTBG was trading for around $0.025 at the time of the dividend. So any remaining dividend owed would be paid out in cash value instead of shares.

17.75MM x 0.025 = $443,750, which would be his total cost to satisfy dividend.

[printmail01]

1.29387 MAKES NO SENSE? The CTBG PR today said they had 68,000,000 GFCI shares - PLUS and yet undisclosed number of certificate shares, all to take part in 75,000,000 CTBG shares.

1.29387 CTBG/GFCI ratio is enough to cover 57,965,637 GFCI shares?

If the CTBG PR is true 68,000,000 GFCI shares to receive 75,000,000 CTBG shares then it is more like 1.1029411 CTBG for every GFCI

How can they FORCE a redistribution at 1.29387 ratio when they do NOT even know how many GFCI shares are out , and as well, how can they do a raio of 1.29387 knowing the OS is OVER 68million GFCI. What are they going to come back at us again in few weeks and take more and more everytime more shares are handed in from cert form?

LOL - Makes no sense at all , I seriously see SEC stepping in halting CTBG , GFCI, and spanking Jim Dial and Jerry something fierce. IMPO

Per the PR:
Thus, the stock dividend was premised on Grifco having approximately 40 million shares outstanding on the record date. However, according to the DTC’s records there were approximately 68 million Grifco shares outstanding and held in book entry form on the record date. Additionally, there were a yet undisclosed number of shares outstanding held in certificate form, which are not included in the 68 million share total, and which may have not been included in the distribution by Grifco. Mr. Swinford was one such record shareholder of Grifco, who did not receive shares in Grifco’s distribution.

PLUS:
I dont see how they can "re-distribute" the dividend, they DO NOT know how many shares are out on GFCI! Read the CTBG PR it says it pretty cleary > If they re-distribute who says in 2 months they wont have to do it again! ooops we found a 10 million share cert held by RReed and another one for 1000 shares we found with a lost wallet in in a vegas showclub, lol , makes no sense

PER THE PR:
Additionally, there were a yet undisclosed number of shares outstanding held in certificate form, which are not included in the 68 million share total, and which may have not been included in the distribution by Grifco. Mr. Swinford was one such record shareholder of Grifco, who did not receive shares in Grifco’s distribution.