anyone following Grifco? an "oil services" company i guess you'd call it, selling stuff with names like the "Jet Motor" and "Silver Hawg" that generally make drilling more efficient. the PR today is a good example of what they do:
been in and out playing swings; had a small position and added more at the open today, probably against my better judgement. it's not normally my kind of stock, i rarely touch pink sheets (as glass knows, heh), but - this one i find interesting for some reason, and am actually contemplating holding long. had my finger on the sell button at .50 today but changed my mind and hit cancel instead.
i'm not quite sure what to think of GFCI, seems to be a fair amount of pros and cons.
PROS:
* if they're legit, they're quite likely worth much more than .50. earned .13/sh the first 6 months, and forward guidance is .20-.23 the last 6 months, as per this PR:
so .30+ earnings seems a good bet for the year, and that was back in may before some of these orders rolled in.
* they're certainly in a good position at least at the moment, with oil hitting 65: make money selling things that make drilling more efficient
* the president Dial has been mentioned as saying that they want to move to a larger exchange, and will start filing in late september. i can't verify this though, have never called him up on the phone.
* at least semidiversified, a lot of acquisitions
* pretty eye-catching numbers in the PR today. by my math, $2M per jetmotor per month rental fee works out to be almost $100M in revs if they can crank out 200 of these babies over the next few years.
CONS:
* on the pink sheets, i generally hate pinkies. no way to know if the share count has increased, or if their numbers are accurate.
* they seem to be somewhat untrusted, which i can understand - i'm generally a skeptic. they seem to trade in a fear/greed cycle - it moves up a bit and gets momentum as people think "hey these guys are for real, other people are buying, i'm going to buy too". then it dips a little and it snowballs, as people panic-sell. weird.
* i'm not clear on just how much *profit* they can get out of the revenue stream from these jet motors, and if they can really sell all they are talking about producing.
* at least semidiversified, a lot of acquisitions. i list this as both a pro and a con because it's unclear to me how much profit and/or loss is attributable to each acquisition.
* i'm a science-geek guy but not really familiar with terms like "coil tubing" and their uses in drilling. so it's hard for me to personally gauge the validity of their increased efficiency claims.
--
Anyone else familiar with/following these guys? I'm not making a buy recommendation btw, it strikes me as risky and mainly of interest for a small investment, i only own 5k shares. also, i haven't finished fully researching them yet. just kind of bouncing some ideas out about GFCI to see if anyone has input to add, either pro or con. thoughts - Purl, anyone?
GFCI is definitely a volatile and twitchy one, yearly range is all over the map, was .14 not that long ago.
Posted by blue_in_MI on :
especially at RB, you have to take everything with a grain of salt, but - very interesting nonetheless.
as a side note, i am always impressed when people go and visit a company site. i've called several companies, had lengthy chats, even been hung up on and cheesed a few IR people off by not being shy about expressing my opinions. but i've still never gone to visit a company. was hoping to visit EYDY on my next visit to Torrance but so far haven't had to go there on business for awhile, maybe this fall. ALMI and JMIH, those are two i'd like to visit as well, maybe someday.
still liking GFCI, even though i admit it's risky and not typically my kind of stock.
almost seems out of whack though - per this report it only costs $1880 to produce a jet motor, but they can rent it for $5000 a day. that is one helluva margin, if true. the optimistic viewpoint would be that it's the beauty of patent protection. the more pessimistic viewpoint would be that customers will be pissed to pay almost 3x as much as a device costs to build, just to rent it for a day. the skeptical viewpoint is that it's "too good to be true", these massive margins.
also of note in this is another thing i should have listed in the "pro" list above: very small float, only 4.7M shares. that's only a couple million bucks, for a company throwing around (as yet unproven, mind you) mighty teeny revenue, profit, and forward P/E numbers. i like low-floaters, takes very little to move them.
Posted by BuyTex on :
great post, blue
Ya, level-headed report from the RB poster--he should come over here, lol.
Oilfield services is quite lucrative. The $5k rental is probably based on going rates and is worth it because of the money it *saves* by using it.
Anyway, you got me interested. Gonna check these guys out...
Posted by BuyTex on :
to all who PM-ed me, this is the oifield-services play
Posted by Krysten911 on :
This company looks pretty good. I like the charts. Say, have you heard from Purl Gurl at all? She seems to have left the building? Vacation maybe?
Posted by blue_in_MI on :
Purl comes and goes, hopefully she'll be back but i think it might be awhile.
interesting PR and trading patterns for GFCI this week, lyamec bought up $3M of their stock:
rose to .60 briefly but then fell back to the upper .40's, perhaps in part due to the pullback in oil. still holding, and might accumulate some more on a dip. GFCI is so twitchy, hard to tell: might drop back to the .30's again, or might sit at .50 range for awhile pending more jet motor etc news. dunno, should be interesting...
Posted by blue_in_MI on :
just added a little more at .40. is always interesting, trying to decide when to buy a stock that's currently downtrending. i only added 1/3 of the position i wanted, mainly on the reasoning that my guess is that .40 support might hold and that GFCI is actually currently trading *lower* than where it was before the (imho) fairly substantial news of the jet motor shipments. i'm surprised it's this low. but, i'm too chicken to add a lot at this point, only 1/3. GFCI is historically all over the map, which also makes trying to decide on buy points quite a bit tougher too. neither a .30 nor a .50 close a few days out from now would surprise me, honestly.
any chart gurus out there have any opinion on good buy points for GFCI? i go on pretty much purely fundamentals and gut, i admit.
Posted by blue_in_MI on :
took a few bounces off .40 early in the week, a .395 even squeaked through, but then a decent bounce back to .46x.47 spread now.
i actually take it as a decent sign that support held at .40 and it bounced back up, at least temporarily. GFCI awhile ago would have fallen through the .40 without much trouble during the "fear" part of GFCI's usual fear/greed alternation cycle. am hoping the resistance at .40 actually holding this time was a good sign, we'll see.
mainly i'm only interested in where GFCI stands for example 3-4 months out from now, but - still interesting to me to study it's bounces, if only for trying to pick buy points.
Posted by blue_in_MI on :
after a mild detour through the greed sentiment cycle, touching .47 - back to the fear part of the cycle at .41 with the bid at .39. will be watching this one closely today, hoping for a panic slide into the .30's to add another 1/3 of the additional GFCI shares i'd like to own. will be interesting to see if GFCI can pass this next test of the .40 support level and stabilize or bounce again, not sure. my completely baseless guess is that it might touch .38, we'll see.
Posted by blue_in_MI on :
watching this one very closely these days for an opportunity to jump on the 2nd 1/3 of the shares i want to buy. has dipped a little lower than i thought it would (.37), not sure when it might find a bounce point. a mighty risky and volatile stock, at least imho.
from trolling around for info, seems like the recent dip is caused primarily by many shareholders getting their undie-pants all abunch over the issuing of 100k shares towards some kind of joint venture in china with some other pink sheet company. is unclear to me if the deal even went through, GFCI has issued no PR about it. strikes me as perhaps an overreaction - i hate dilution as much as the next guy, but 100k shares is really not that much. it represents perhaps an increase of 2% of the float.
at the moment am taking a "wait and see" attitude before going in on the second 1/3 am looking to buy - stock is slowly downdrifting, so i figure might as well watch on the sidelines for awhile and see how low it wants to drift.
the thing that still strikes me as strange is: GFCI is trading *lower* than it was before the last 2-3 very positive (imho) PR's about the jet motor and lyamec buying in. especially with oil in the upper $60's - seems unusual to me.
i think also that people are waiting for more news and PR's about the jet motors: how they are performing in the field, specifics about orders, all that. i'll admit that i'm a little cautious with GFCI because the margins almost seem too good to be true. GFCI is by far the riskiest stock i've ever bought, could very well drop back to .20 again if news is delayed or bad. but - still, grifco intrigues me enough that i want to have a position in it.
Posted by blue_in_MI on :
an odd day of trading yesterday. GFCI sunk to .35, then suddenly had a spike to .41 on this midday PR:
mainly talking about how GFCI's Louisiana buildings were unaffected by Katrina. they also snuck in mention too though that the Houma and Scott facilities pull in an impressive $9-12M a year in revs.
GFCI then proceeded to fade back to a .38 close, however - couldn't sustain.
was tempted by .35 yesterday, but - the GFCI natives seem restless enough that i'm going to wait awhile before adding any more and see if GFCI might take a dip towards the low .30's and perhaps even upper .20's. would be a little surprising to me if it dipped this low, that's quite a bit lower than where GFCI stood *before* releasing the lyamec and jet motor PR's. but - the slow downdrift and inability to hold .40 yesterday make me think that some more downward dright might be in store for grifco. we'll see.
Posted by blue_in_MI on :
quote:Originally posted by blue_in_MI: the slow downdrift and inability to hold .40 yesterday make me think that some more downward dright might be in store for grifco.
ha haha - figures, closed up, at .42: just to spite me for mentioning that i thought had some more downdrift coming!
maybe i should post that i feel it will close *up* at .50 today, just to guarantee that it'll drop to .31 so i can buy a decent-sized chunk.
Posted by vg on :
And right after u do that blue also say that it is going to drop to .20 so that it spikes upto .70 LOL I haven't bought any but have been watching it since it was at .55 I'm still trying to find more info on it.
Posted by blue_in_MI on :
dangit, GFCI is doing exactly what i *didn't* want it to do: stay the same. still stuck in the .38 to .42 trading range.
if it went way up, that'd be OK, at least would have a profit on my small holdings. if it went way down, i'd happily jump on a larger position.
so of course, it's staying the same.
will be interesting to see the next PR out of GFCI, perhaps a jet motor update?
Posted by blue_in_MI on :
it is really pretty interesting, perusing the lyamec website. lyamec has invested/partnered in a major way with GFCI: helping them buy Global Tool, "introducing: them in libya with their libyan connections and "Libyan Business Council", and finally buying 6M shares of GFCI at .50/share.
lyamec has a lot of "partners", who appear to go to lyamec for their libyan connections and facility. as they put it way back in a 7/20/04 PR:
"The Lyamec Group was established in 1999, to fulfill the existing and expanding demand for U.S. made products for specific Libyan market segments as outlined by President Clinton on April 28, 1999. Corporate & Private clients benefit from a myriad of angles relating to business laws and regulations, communication, concept development, contract negotiations, distribution, marketing, sourcing, strategy, and total project management."
they appear to be libyan "wheel-greasers". other clients are corel, touch point, fujitsu, lukoil, even ford.
it appears to me that right around now, GFCI CEO dial and the lyamec ceo are on a little trip:
"We are buying into Grifco at this stage because of our unflagging commitment to Grifco," said Lyamec CEO R.G. Raymond in a prepared statement. "We are onboard with Jim Dial for the long term. Undeniably we share the same plans and vision as he does. With the strong demand for Grifco's new products and the overwhelming representation requests from Libya and Qatar, we see great revenue potential in our target market area. Jim Dial and I will be joining our friends, partners, and dignitaries in Libya, Qatar, on a 12 day visit, with additional stops in the United Kingdom, and Italy to lay down points of access for regional distribution management."
still trying to figure out exactly how lyamec greases wheels, but - an interesting snippet from their 6/9/04 PR:
"As already approved by Libya's Foreign Investment authorities, immediate benefits for Grifco International would include: full exemptions from custom duties, no taxation on Grifco's income for up to 8 years, and a competitive manufacturing and distribution edge in the region. An already allocated 15% equity participation incentive to local Libyan government agencies, and distribution rights to other markets, indicated that this will be an extremely positive and successful opportunity that shareholders will appreciate."
is interesting to see that there was a major catfight between dial and lyamec back in june. check out these scathing quotes from the 6/3/04 PR:
>>>>>
With regards to the already expired agreement between Grifco International (OTC: GFCI.PK) and Global Oil Tools, Inc and further with Grifco's CEO, Jim Dial's oddly timed retraction of compliance with the preset terms of engagement already agreed to with The Lyamec Corporation; Lyamec has now solidified its position with Global Oil Tool's expansion into Libya. The partnership between the Lyamec Corporation and Global Oil Tools on the manufacturing and distribution rights for Africa, the Middle East and Azerbaijan including the 24,000 sq ft. facility staged in Libya, has been fully cleared to move on without any further delay from Grifco. The agreement brings a solid opportunity to access a pool of $400 Million USD annually in oil tool supply orders that the region represents in this partnership. The agreement between Global and Lyamec has now made it next to impossible for Grifco to come back for Global, now or in the future without a heavy premium that would ultimately cost the company and or its investors substantially.
In reply to Jim Dial's statement on the furtherance of an acquisition of Global Oil Tools to The Lyamec Corporation, that Grifco will still continue to gather momentum in bringing a buyout of Global until it is successful; a Lyamec spokesman addressed this point in a private conference with its participants by saying, " I am truly amazed that Jim Dial has lost such an opportunity, and what is more plausible, is that he added the weight of millions if not in the tens of millions on the cost to his company to achieve such a goal. It was not a logical decision to anyone here, and would probably and ultimately lead to quite a few upset investors". He went on to add," We are also looking further into legal ramifications by Jim Dial's performance on this issue, going as far back as mid April, 2005 that we are now looking into."
<<<<
then, 6 days later, they kiss and make up:
>>>>>
The Lyamec Corporation, an investment related franchise distribution and merchandising agreement corporation, today announced that in an emergency session called by The Lyamec Corporation, Global Oil Tools, and Grifco International (OTC Pink Sheets: GFCI), the Lyamec Corporation agreed to give Grifco International an additional 30 day exclusive option to buy Global Oil Tools. Surprisingly, the terms of the new deal are better than those previously agreed to by Grifco International and Global Oil Tools. The no-cost option would allow Grifco International to buy Global Oil Tools under the newly developed manufacturing and distribution center deal in Libya, facilitated by The Lyamec Corporation. Lyamec's ongoing overall project development draft agreement and market development and project management terms includes a $20 million USD parts and tools order as part of the overall package on Global.
"This should fit into the company's overall portfolio and will definitely add to their internal growth as well as shareholder returns," said R. Raymond, President of Lyamec Corporation. "I never really had the pleasure to meet face to face with CEO Jim Dial. I was originally introduced to Jim through other parties who contributed to some tension in our earlier negotiations. Now that I know Jim better, I truly admire and have great respect for him. Under the circumstances, I wish we had gotten to know each other much earlier and under better circumstances."
"Sometimes it has to get worse for it to get better," said W.J. Barnhill, President of Global Oil Tools. "I am very happy with what's on the table and I believe that Ray and Jim had to get to know each other better, and they did. I believe the sincerity that I saw between these two men fortified a win/win position for all concerned. In this particular instance I must say, it really did take three to tango."
<<<<<<
really pretty amusing and interesting stuff.
like i said - GFCI is not normally a stock that would be in my interest pool, but - i admit that i find them fascinating and i can't resist their promise, despite their high risk. a lot going on - not just the jet motors, but also the whole libyan/lyamec stuff, as well as global tools and the rest of their "core" oil-tool business. that's a lot of avenues: some may pan out well, some what fizzle, just hard to say at this point.
i do admit that i like the fact that lyamec must be well-aware of GFCI's inner workings, and liked GFCI enough to want in for $3M in GFCI stock.
purl, anyone else - would be interested to hear any input on GFCI, good *OR* bad; mainly am just blabbering on to myself here like usual, heh!
Posted by blue_in_MI on :
amusing timing that i was just posting about GFCI's libya stuff a few hours ago, news out this am:
News for 'GFCI' - (Grifco Completes Phase One of 'Global Oil Tools Libya')
HOUSTON, TX, Sep 07, 2005 (MARKET WIRE via COMTEX) -- Grifco International (OTC: GFCI) announces it has received final "approved to form 'Global Oil Tools Libya' certification." GFCI now has final approval to export technology, conduct operations, and establish a manufacturing facility in Libya.
In a statement by CEO Jim Dial, "Our approved to form package has been authenticated and sealed by the U.S. Department of State (Document 05028356-13). Concurrently, the finalized Global Oil Tools Libya has also been certified by Libya's Foreign Affairs Department in Washington, D.C."
"We are pleased with the expedient processing of the requirements by Lyamec & Associates. We look to immediately move forward on expanding our market reach through Lyamec by reviewing and finalizing applications on Tunis, Qatar, Jabal Ali, and Morocco and to establishing corresponding logistic and point of sale offices in the North African coast," added Dial. "Libya's manufacturing facility is the thread which will weave a framework to build and distribute products throughout the region. Eventually, all of GFCI's technology, including the product lines of Grifco, Global Oil Tools, the Silver Hawg, and Coil Tubing Technology (CTT), makers of the Jet Motor and Jet Nozzle, will be working in the fields throughout Africa and the Middle East."
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco's patented products are known and used throughout the world. In addition to our patented tools, Grifco holds and owns design rights and manufacturing facilities for producing more than 6000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org Posted by blue_in_MI on :
seems like buying and selling pressures have basically equalized at .40: the swings have dampened out and for now a pretty tight .38-.42 trading range prevails. a lot of optimism based on grifco's big potential, but also a lot of nervousness about their pink sheet status and uncertainty over things like uncertainty of exact share count and lack of SarbOx-compliant audited financials.
imho i think it likely that news or an eventual lack of news is going to be what pushes it either way of out of this range. could move up based on jet motor etc updates, but if they dawdle too long on news (particularly on the updates to finally getting on the OTC and off the pinks) then my guess is we'd see a gradual pps erosion.
for now still taking a "wait and see" attidude: am in for my modest amount, but would take a dip to .35 or lower for me to add more.
looks to me like GFCI has updated their website recently, still slightly under construction: most of it works but a few links still don't.
reaction seems mixed on the libya stuff: some see it as a positive with huge potential business, some see it as a negative and want grifco to focus on their own backyard first before venturing too far.
Posted by blue_in_MI on :
haha ha, figures - as soon as i type that yesterday, starts to show signs of moving up to a new trading range: .43x.44 with a few .45's slipping through today. still way too early to tell much of anything though, GFCI's eventual rise or fall will depend on things like jet motor numbers and audited financials. we'll see.
quote:Originally posted by blue_in_MI: seems like buying and selling pressures have basically equalized at .40: the swings have dampened out and for now a pretty tight .38-.42 trading range prevails.
Posted by blue_in_MI on :
eh crap, .47 x .48. only have a small 5k shares, wanted 10k, so was actually rooting for it to go back down to .35. ah well - maybe some chances on future dips.
kind of strange - 2 of my larger holdings, GFCI and ETLT - moving up sharply on zero news today, just suddenly and out of the blue.
Posted by RebelYell on :
GFCI is getting talked about by momentum players on several boards.
Posted by blue_in_MI on :
interesting, thanks; i should have guessed. may i ask what boards, out of curiosity?
Posted by blue_in_MI on :
dang, .50
Posted by RebelYell on :
Niz's Billionaire Boyz Club @ RB. Momentum Players @ I-Hub.
Couple more that I am afraid to post here.
Posted by blue_in_MI on :
interesting, thanks RY. maybe will regret not selling into this spike, but - am going to hold. i still think GFCI could pop to $1+ over the next few months *if* (and i admit that's no small if) they can get their financials done and issue a few more jet motor etc updates, we'll see.
Posted by RebelYell on :
Playing for a swing. Looking to exit at .60 range or on news. Looks like .60 would be completion of cup formation on chart.
guess i'm not getting my other cheap shares, ah well!
will be interesting to see how this plays out in the absence of news, dunno if can sustain - we'll see.
Posted by blue_in_MI on :
couldn't sustain, pullback to .45. rebelyell, perhaps you were right that the minijump the last few days was due to a sudden interest by momentum-yahoos from other boards, thus the sudden rise and pullback.
i'm still "neutral" on what i want GFCI to do - only have a small portion, watching and waiting for now to see on buying more. i really like their chances to have a good run at some point during the remainder of 2005, but - my guess is that they may also be late getting their financials out and that it might have some more attractive dips to get in on. dunno, such a "fear and greed cycle" stock, hard to get a handle on. half-in and still watching closely, we'll see.
Posted by Rebel_Yell on :
From a poster (islandecho)on another board who has been running this. Take it FWIW.
"Right now i would buy more of this if you can. My other play i am still finding something things out on and it may be a monday play.
As for GFCI, I had it verifeid yesterday 100% (dont ask how lol) that they will be reporting financials very soon and that for the year ending June 30th they will be reporting earnings of .38. The stock is trading at .45 lol. It should be at least $4 with those kind of earnings with a simple PE of 10.
Buy all you can of this now with these prices. This is about as sure as it gets guys, and its about to go."
Posted by blue_in_MI on :
ha ha haha, well ain't that 10 lbs of sh!t in a 5-lb bucket!! amazing, "don't ask how lol", what a load, do people really *believe* this crap?
btw, i am not criticizing YOU, RebelYell, i full realize that you're posting those comments "FWIW", and that they're not your own words or anything. and actually i appreciate you posting here and helping give me a sense of the "pulse" of other boards comments on GFCI, particularly because i never visit boards such as "Niz's billionaire boyz club" or whatever, and never will.
i think probably .38/sh profit is unachievable for the past year, honestly. i'm very conservative, and hoping for .25/sh for the last year. for one, they had to issue shares to complete all of their acquisitions like Global Oil Tools, so the share count is perhaps 25% larger than it was back in june when grifco issued guidance, likely around 31M. to my knowledge though, the *float* is still under 5M shares, part of why i'm so intrigued by GFCI. only $2M in the float, that is a teeny number. also, recall that nearly all jet motor revs and profit may well not show up much yet if they file a Q for the period ending july 30 2005.
personally i'm being conservative and thinking that the financials won't be released for at least another month, perhaps even not until early november.
while i'm thinking mid-.20's for 2005, i can't help but be optimistic about GFCI's earnings prospects for 2006. looking at in particular those jet motor numbers, those are some intriguing numbers, with quite a large profit *potential*. again, it has to pan out, and i still view GFCI as risky, but - in my mind it does have huge *potential*.
as a side note, is interesting the wide interest in GFCI among disparate investing stock "personalities". it seems to have a following in the RB and other junky boards, but - also i know several relatively conservative people whose opinion i respect who are also vested in GFCI and are cautiously hopeful, as i am. *IF* GFCI can get all their ducks in a row in terms of filing and jet motor etc business, and that is a big if, then - the stock will do quite well in the long run regardless of blips caused by Niz Boyz Club or whatever junky momo board.
still holding my small number of shares for now, and looking to add on future dips. we'll see.
if you ever have time - would be really curious to hear any thoughts you might have on GFCI, Purl.
Posted by blue_in_MI on :
one other comment on the general "internet board perception" of GFCI - imho, a surprising % of people seem to question whether or not GFCI is even "for real". this uncertainty is "priced in" to GFCI, and imho part of why it's so cheap now compared to earnings and earnings potential.
i can of course understand that especially with pink sheet stocks (which i rarely am in), more uncertainty *has* to be "priced in". for one, i could not guarantee the share count or go and look up the audited earnings for last Q. GFCI fully *deserves* to have those uncertainties priced in, and thus be cheaper than if it were fully reporting and all that. no question about it.
but - at least through my DD, i am convinced that GFCI is a real company, with real products, real customers, real revenues, all that. a surprising % of people seem though that it's questionable whether or not say the "silver hawg" even exists. imho the market may be overly pricing in these uncertainties.
if you go to www.grifco.org, they have a lot of interesting descriptions of their products, and a 192-page product catalog with substantial detail on products. i'm skeptical and cautious as hell by nature, maybe the most boring and cautious investor on this board. but - i just don't think an entire one hundred and ninety two page catalog with detailed descriptions and dialogs of operating principles is "made up" out of the blue. i also doubt lyamec would fork over big cash for 6 million shares of grifco if they thought the company was a "fake", particularly seeing as how they are intimately familiar with grifco's inner workings.
like i said all along, i view GFCI as having *significant* risks, and it's not usually the type of stock i'm interested in, starting with it's pink sheet status. i've tried to be as open as possible about considering risks, problems, and downsides to GFCI. but, at least imho, it strikes me that at least *some* risks with grifco *may* be overstated or overly priced in. i guess time will tell.
Posted by blue_in_MI on :
definitely back into the "fear" part of the cycle, not to mention impatience - scraping on .40 bottom support today. added a little at .40, have about half of the GFCI i want now - holding cash in reserve in the hopes of a panic slide.
people definitely getting impatient and fearful waiting on jet motor and getting-on-OTC news, not sure if .40 will hold. we'll see. probably also some people who bought on the run stirred up by whatever goofy momo board played GFCI panicked and sold when it couldn't sustain the run.
thing i still find odd: GFCI still trading *lower* than where it was before the last several positive (imho) PR's.
Posted by blue_in_MI on :
hmm, at least a temporary switch away from the fear part of the cycle. odd trading day: was a very slow day, then out of nowhere the volume suddenly spiked up. a few big block buys, including a 160k share block, drove the price up to a .45x.47 close.
no idea if will trigger a new run or will pull back tomorrow, but - pretty interesting trading. that's no chump change to toss around, a 160k block is almost $70-large in one shot.
Posted by blue_in_MI on :
back to fear, people impatient and scared about 3 weeks going by with no news.
risky, but - i added some at .41.
Posted by blue_in_MI on :
disappointing last few days for GFCI, price dipped to .39 on heavy volume because a lot of people were expecting to see audited financials by the end of september. 2 years worth of audited financials are required along with the form 10, to apply for listing to a larger exchange and get off the danged pink sheets. obviously, the financials weren't released yesterday. thus the dip, as some people hit the panic button.
it is hard to tell for sure based on all of the various info around the 'net, much of it conflicting, but the most likely case seems that these were delayed due to the complexity of having to go back to the previous shell company financials as well (grifco, as many companies do, took over a shell company to avoid the high cost of creating a new public company). dunno what to say on the financials front - i have zero accounting background. i guess best case is that it would take another week, worst case is that they would have serious difficulties and could drag on for months. really i have no idea.
a boatload of up-in-arms GFCI shareholders appear to have flooded Grifco's IR company with calls yesterday about the financials, which resulted in Mike King of their IR firm releasing the following short statement:
“I visited Grifco in Spring, Texas ( the coil-tubing division )and found they are out of steel which is in short supply nation-wide. Their rented tools are safe and the suppliers should be up and running again by Monday. Grifco lost about $ 250,000 in income for the two-week down period as a result of the hurricanes. Unaudited Income for the full year ended June 30th, 2005 for Grifco ( excepting the Global Division ) is about $ 4.4 million on $14 million in sales. I don’t have the figures yet for the Global division.”
it's a little complicated and only gives a partial picture to try to analyze these numbers: they are for the period that runs up until june 30, 2005. grifco was a smaller company then: both in share count, and in size. global oil tools was acquired a week or two after 6/30, and the first batch of 50 jet motors didn't ship until late july (with the 2nd batch of 50 in the works). current share count appears to be about about 37M O/S, so $4.4M profit on 37M O/S would be about 12 cents a share profit for last year. based on the rough 20M O/S as of june 30 before adding global, .22/sh range - a little short of their guidance because no JM revs on it, but - still quite good.
that is of course a *trailing* earnings note, with GFCI i'm more interested in the *forward* earnings potential of the jet motor and other potential additions. the downside of the dilution required to add global oil tools is of course now they will add to future earnings. and the JM grifco has quite high hopes for: 100 motors would, if you believe their numbers, add $2M a week of very profitable revenue to grifco.
at this point, still hard to form a balanced opinion of GFCI. a lot of questions about finalizing financials, and it remains to be seen if all of thier irons in the fire will pan out. imho it should be viewed as a speculative investment.
i am staying in even though it's not normally my kind of stock (ie boring) because grifco is very promising imho, but - no doubt that there are risks involved: any number of things could go wrong. no doubt will be a very interesting next several months for GFCI, we'll see. i fully expect to see quite a bit of volatility in the stock price as the fear/greed cycle in investor perception continues as it has in the past.
Posted by blue_in_MI on :
as a side note, is interesting trying to sort out all the disparate opinions on GFCI: bashers and pumpers both abound on it.
the internet of course revolutionized and fundamentally changed investing: no more going to the library: much of the info you'd ever want to know about a stock and company is on the internet, along with 500 opinions on it.
imho much of the "trick" to actually *using* the 'net wisely is to have a good "crap detector" and to try to filter out garbage opinions, both pro and con. relating to my discussion with rebelyell a few posts up, this is why i ignore crap like the stuff on Niz's billionare forum or whatever garbage - maybe it's good for quick pump and dumps, but - it's all BS imho and that's not my style of investment, i am more long-term.
imho it's worthwhile visiting other boards because you get can a good "pulse" of the sentiment towards or against certain stocks, but it needs to filtered and you need to learn "who to trust" and "who to filter out completely".
the posters i tend to listen to are the ones that present a *balanced* view, both pro and con, towards stocks. they express both hopes, and doubts; promise, and problems. they clearly do their DD.
here at allstocks, the prime example of this balanced reporting is of course the board queen bee, purl gurl. if she posts about a stock, i listen; and research it. many times we disagree about prospects for a stock, but - is worthwhile to at least consider her balanced opinion and research, imho.
as another perspective from my own, here is copied and pasted another post made awhile back by another poster on a different board about GFCI. as i would venture to guess bingo would also be able to verify, this poster "Bobwins" is a very respected poster who offers balanced views of stocks. fwiw, his opinions on GFCI, both pro *and* con:
---
re GFCI.pk... I have some second hand knowledge of oil industry guys who have looked at the Jet Motor and feel it's legit. The need is real and the competition is not all that good. The Jet Motor seems to have some advantages in operating in high temperature situations. What we don't know is how long they last, reliability, effectiveness in restoring oil flows. In addition to that aspect, there are apparently other applications that would benefit from the basic Jet Motor design. So it's not a one trick pony. Other tools could be based on the basic design.
Overall Gfci.pk does appear to have experienced oil industry guys in the company. They have proprietary downhole tools that should do well, even if the Jet Motor is a total bust. This is an incredible time for the sector and anyone with half a brain and a load of tools ought to be able to make big money now and for the foreseeable future.
That is the worry with Gfci.pk. Do they have the management skills to expand, acquire other companies, keep customers happy and deliver tools ontime. They have put out a lot of PR but I haven't seen any numbers yet so am reserving final judgement. There have been some instances of overoptimism that worry me. Need to hire a CFO to help manage the cashflow. They did a recent private placement that tells me they are still burning cash, even if they are profitable on paper. All the traveling and development of these tools and acquisitions are expensive.
I am waiting for the September date to see if they can produce audited financials. That will be a big test. Then the expansion of the Jet Motor into a full fledged commercial product is the next step. The purchase of Coiled Tubing and Global appear to be good decisions. The expansion to Libya has gigantic potential but again needs excellent management to setup shop in Libya, train staff and produce quality tools in a reasonable time. They will likely have to train the Libyan oil field crews on the use of the tools as well as machine them. Still the potential is great and the establishment of a manufacturing base so close to the Middle East is mouth watering IF they can finance it and get it profitable quickly. If they mismanage it, it could be a company buster. Long distance manufacturing in a country like Libya isn't going to be a piece of cake.
So mixed feelings but holding quite a few shares due to the tremendous upside and the great conditions for the sector. Could be a multi bagger or I may need to use the share certificates to make paper lunch bags. Not sure which!
Posted by blue_in_MI on :
not much happening here: slow erosion down to the .36 range, as some people folded when they didn't come out with the audited financials by the end of september.
also appears likely that grifco was delayed several weeks by rita and katrina, with offices in TX and LA. bit of a bounce today to .40x.42 close, my guess is will slowly fall back though, in the absence of news updates. has been about a month now with no news, the natives are definitely restless.
Posted by blue_in_MI on :
still basically waiting on news, hoving around the .40 mark. from other boards, this was the main thing posted lately, a response from jim dial to a shareholder email last week. no way to tell, but - my guess is 75% chance to be accurate/legitimate. anyway, take it fwiw:
---
"My questions were:
1) What happened with that audit? Was Litfiber the problem? 2) Have the first 50 Jet Motors been generating the revenue that was expected? And is the 2nd run almost finished? 3) Are we close to having a CFO?
His answers:
1) Litfiber is the problem, and we are hiring a firm out of New York who says they can fix the problem. 2) 1st run ...yes. 2nd run delayed due to hurricanes...Delivery in about 3 weeks, then testing, and then off to the field. 3) Yes, I have interviewed over 40 candidates and feel like I have found the right guy."
---
maybe risky, but - i'm going to hold.
Posted by blue_in_MI on :
crazy week for GFCI as the greed/fear pendulum swung wildly: .32 to .39 trading range the last few days.
hard to tell exactly what's going on since there have been no significant PR's in quite awhile, but - rumors floating about problem with the litifiber shell, may be on the pinks for quite awhile longer. disappointing, but - we'll see. still holding, but - no doubt disappointed not to get any updates from grifco on many fronts, such as jet motors, financials, and the move to the OTC. GFCI strikes me as appropriate for only a small position - a lot of promise, but also a boatload of uncertainty.
Posted by blue_in_MI on :
*still* waiting on jet motor news, financials, etc. - down to .32 range, bashers having a field day on the boards.
maybe i'm an idiot, but - as frustrating as it is, am still holding, and will continue to hold. as i've said before, i'm stubborn.
Posted by blue_in_MI on :
kind of ironic, after waiting so long under a dark cloud of uncertainty, today's PR really brought almost as many questions as answers:
seems like GFCI had problems with the Litfiber shell when it came to filing, so they had to take on a new shell in order to get off the pink sheets. hopefully, this new spinoff should allow them to do that, at least for the CTT part (which should take the JM with it).
certainly a very vague PR though, many more details needed:
when will this happen, and when will CTT financials be released?
how many shares of the spinoff will GFCI holders receive?
is it only 88% ownership because they had to pay that much to the new shell company?
etc.
hopefully more news (both of the reorganization and the latest JM shipment and utilization) will be forthcoming, and that it won't take much longer.
i have to say that if nothing else, i'm happy that it seems like they were at least busy doing *something* these last weeks. hopefully this will be good news in the long run, but - just impossible to say at this point, way too many questions need to be answered first.
Posted by blue_in_MI on :
grrrr, this one trying my patience - STILL no major news. did have a little bit of minor news this week: $3.3M in orders -
"Edwin Leonard's broad financial expertise and depth of experience with other fast-growing companies will be an asset as we take Grifco and Global Oil Tools, Libya to the next level," said Jim Dial, President and CEO of Grifco International. "I look forward to updating our shareholders on positive operational developments following the Thanksgiving holiday."
hopefully there will be more "positive operational developments" in the upcoming weeks...frustrated, but still holding.
Posted by <frank> on :
quote:Originally posted by blue_in_MI: grrrr, this one trying my patience - STILL no major news. did have a little bit of minor news this week: $3.3M in orders -
"Edwin Leonard's broad financial expertise and depth of experience with other fast-growing companies will be an asset as we take Grifco and Global Oil Tools, Libya to the next level," said Jim Dial, President and CEO of Grifco International. "I look forward to updating our shareholders on positive operational developments following the Thanksgiving holiday."
hopefully there will be more "positive operational developments" in the upcoming weeks...frustrated, but still holding.
I am new here.
this company is taking alot of patience.
does anybody has some news ?
are the share buybacks going on now ?
Frnak
Posted by blue_in_MI on :
i'm still holding GFCI. yeah, it takes patience - no doubt. have been several relatively minor PR's about business being good, things like that. but - GFCI is just sitting there because there's none of the big news yet: in particular, how is it going with filing to get on the OTC and off the pinks, audited numbers from last year, official share count, jet motor shipments, etc.. it's not going to go anywhere until those things happen. i'm holding long but if you're a short-term trader or get frustrated and impatient easily, GFCI isn't for you.
Posted by <Disastrous> on :
There seems to be alot more activity this past week, maybe the buyback has finally started. If they are serious about increasing shareholder value, I'm sure they will want to prop up the stock 0.50/share in order to make Lyamec happy for its 3 Million stock purchase which is the price they bought it for.
Posted by <Disastrous> on :
There seems to be alot more activity this past week, maybe the buyback has finally started. If they are serious about increasing shareholder value, I'm sure they will want to prop up the stock 0.50/share in order to make Lyamec happy for its 3 Million stock purchase which is the price they bought it for.
Posted by Disastrous on :
There seems to be alot more activity this past week, maybe the buyback has finally started. If they are serious about increasing shareholder value, I'm sure they will want to prop up the stock 0.50/share in order to make Lyamec happy for its 3 Million stock purchase which is the price they bought it for.
Posted by blue_in_MI on :
today is a good example of some of the oddness in GFCI trading and the difficulty of trying to sort everything out.
after the bell yesterday coil tubing released a PR with good news about a nice order from BP:
CTBG, which used to be IPHG, will become a spinoff of GFCI:
"The Company also announces today its intention to spin-off the operations of CTT from Grifco as a special dividend distribution to its shareholders. Grifco anticipates the spin-off will occur shortly after a registration statement for IPMC's common stock is declared effective by the Securities and Exchange Commission."
confusing, eh?
still holding, fwiw.
Posted by RebelYell on :
Yep. I've been confused since the PR announcing the spin off. Didn't give the expected dividend date or the ratio of dividend shares.
Posted by blue_in_MI on :
you are not the only one confused, RYell; the GFCI picture is still quite clouded with uncertainty and confusion. This is of course a good part of why GFCI is still trading in the low .30's.
Yesterday's action on CTBG in inaction on GFCI is an excellent example of the confusion and uncertainty out there right now. it would seem illogical that CTBG would soar while GFCI remained stagnant, to those who have followed the reorg.
Dividend date and ratio, audited financials, JetM updates, a whole lot of questions when it comes to GFCI.
i am still holding some because despite all the problems and frustrations, it's my opinion that there is a good chance that GFCI is a real company operating profitably, and that it's a worthwhile speculation for a small amount. i've freely admitted all along though that GFCI is risky, simply because of the cloud of uncertainty.
for me at least it's all about risk/reward ratio: GFCI is by far my riskiest holding, but am willing to take that risk with a small amount in search of higher rewards. we'll see.
message boards like allstocks have of course changed the face of investing in small stocks like GFCI. sometimes they can be a great help, sometimes of no help, and all posts of course have to be taken with a grain of salt.
here are a few of the more interesting posts on various boards about GFCI lately. are they valid posters with real info? very hard to say.
---
from January 9:
Yes, I'm new to this board, but I have been a Shareholder of GFCI since April of 2005. I spoke w/Jim Dial on Friday and I expressed to him the importance of financials being released. I also informed him the importance of being honest w/shareholders and that currently he was not.(i.e. financials being released at the end of Sept.) Anyways, he told me the following about financials for both GFCI and CTBG: This week, a team of Forensic Auditors are flying in from NYC to Audit both companies. CTBG is on pace to have Financials released at the end of January and the Dividend to be completed at the same time as long as there are no road blocks w/the SEC. He said that GFCI is a bit more complex because of Litfiber. He said he has continually tried to contact Jarvis and has had no luck. Therefore, they are sending Certified Mail to him and are sending someone to meet w/him personally. He said that what Jarvis has to do is simple. He said that if they cannot get the information that they need out of Jarvis, then the Forensic Auditors feel they can work around whatever is needed and get financials released. If for whatever reason they cannot, then there will be another spinoff for GFCI. Jim did inform me that both companies are poised to move to major markets. (GFCI to Amex and CTBG to Nas). I hope that I have helped.
-----
from January 20:
I placed a call to Jim Dial this A.M. and he called me back.I was unable to understand the market action this a.m. and I was surprised Dial responded.Question #1 In light of the information available to shareholders why would anyone buy ctbg instead of gfci? Was I incorrect in my thinking and did the market know something I did not? I asked this question in several different ways.He assured me that my thinking was correct and he could not explain the market action.I also asked that if ctbg was going to have around 80 million shares then each gfci share would need to be worth about 2 ctbg shares.He answered" I cannot comment on that we are in a quiet period" I believe he may have responded to my call because I am a physician and hold a substancial position.I have the same questions you all have and tried to calm my concerns with the call.I do not pump but wanted to share the call with the board.
Posted by BuyTex on :
blue, *if true,* that would be a voluntary "quiet period," yes? iow, no regs would require such, correct?
Posted by Hammer on :
Is that the same John Jarvis who was involved with the ownership of CMKX's predecessor shell?
Posted by blue_in_MI on :
buytex, as far as i can understand it - yes, it seems that no regulations would require GFCI to be in any kind of quiet period, because of their pink sheet status.
hammer, i googled for a bit and it seems to be a different jarvis, but - i could be wrong. a good question on your part, imho. even though GFCI has really nothing to do with jarvis other than happening to take over the empty shell of the litfiber company he left, i'd still rather stay at least 27 degrees of separation away from CMKX or anything to do with that junker of a "company", heh. will post if i find anything more definitive either way on jarvis.
Posted by wallymac on :
I bought CTBG on friday due to the news regarding BP. After buying I started to look at GFCI. I thought it was a natural for GFCI to go up because according to what I read, they would be renting out the JetMotors for $50,000 each per month. Am I assuming something that I shouldn't? Am close to buying a small position in GFCI but am a bit leery after reading this thread.
Posted by blue_in_MI on :
wallymac - imho it's wise to be leery and cautious with *any* pink sheet stock, GFCI and CTBG included.
i know from the gold thread that you are new to the OTC market. you probably know this already from your initial research, but if not - the pink sheets are the "wild west" of investing: companies are not subject to any of the normal requirements of companies such as reporting share count and filing audited financials each quarter. being a generally very cautious person, i tend to stay away from the pink sheets altogether, although occasionally a stock like GFCI or DVPC or BOGN interests me enough that i'm willing to assume the risk of a *small* position.
you'll note that from the very beginning of this thread i tried to note that GFCI, while promising imho, is very much a *speculative* stock. the reason it's trading at such a low price is that there is a lot of uncertainty involved with it. for starters, there's no way to verify the share count and earnings per share; it's all guesswork and speculation. a year from now it could very easily go from it's current .33 level to either .033 or 3.30, neither would surprise me.
in the specific case of GFCI and CTBG, a key PR that describes the key relationship is here:
"The Company also announces today its intention to spin-off the operations of CTT from Grifco as a special dividend distribution to its shareholders."
so my opinion of what should happen based on this is that a lot of new CTBG shares will be issued, and then distributed as a dividend to GFCI shareholders. the share count of CTBG should increase dramatically, which makes me leery of buying CTBG - any time new shares are issued, the value of each individual share goes down. so personally, and again - it's just my opinion which could very well be wrong - one would be better off owning GFCI than CTBG at this point.
i admit frequently on this board all the time that i'm the "board fuddy-duddy". but - especially as a new investor, one should be extremely cautious when venturing onto the pink sheets. GFCI is obviously of interest to me, otherwise i never would have taken a small position or started posting about it. no doubt it has a *lot* of questions though, which i've tried to be up-front about and detail all along in this thread.
you mention the JM's and the $50k/month, this is a good example. if GFCI were a filing, fully reporting company (as is required by exchanges from the OTC all the way up), then this could be easily *verified*. but because GFCI is on the pink sheets, there's really no way to know for sure.
Posted by blue_in_MI on :
interesting day for GFCI and spin-off CTBG: 2M shares of GFCI traded or about 5x average volume, and a PR both before and after the bell. GFCI up a bit, CTBG down a bit.
morning PR about a mexican partnership, afternoon PR about Energizers and Heavy Hitters.
Posted by blue_in_MI on :
well, so far this has been my worst pick ever: down around .20 range. guess i deserve it for stepping out of my usual fuddy-duddy picks and putting a little in something risky.
weird interplay between CTBG and GFCI lately - obviously some big holders moved directly out of GFCI and into CTBG. which i admit still doesn't really make sense to me: GFCI owns 90% or so of CTBG. unless jim dial is lying in the PR about the dividend shares in CTBG for GFCI shareholders, one would think the dilution in CTBG caused by the dividend shares being issued would have a serious downdraft effect on CTBG. but - what do i know. if dial lied in the PR though, i'll certainly be contacting the SEC. at this point though, i don't see any reason to believe that he is. i still expect to get CTBG dividend shares, as a GFCI shareholder. the only question of course, is: when.
call me stubborn and stupid, but - am still holding and even added a little at .18. risky, but - i can personally live with the risk/reward curve on this one. i'm willing to hold it long. we'll see.
Posted by blue_in_MI on :
lot of interesting news out of GFCI and CTBG lately. trying to acquire a casing accessory company, swinford continues his prolific invention and patenting pace with what sounds like, er, a bigass nozzle cleaner thingy, more libya discussion, etc.. really, a pretty interesting little company/companies.
however, still stuck at .205. simply because with all the news they've put out, none of it is *THE* news - ie financials, JM updates.
Posted by blue_in_MI on :
pretty ridiculous trading action lately, bounced last week between .16 and .24. no news though. natives are ridiculously restless. someone puts one dumb and unsubstantiated post up about GFCI and people immediately sell based on the bogus post; very itchy trigger fingers these days for GFCI shareholders.
this along with CLSI has been my most disappointing microcap holding ever, but - am still holding my small amount long.
Posted by blue_in_MI on :
quite the ridiculous week for GFCI.
blood was in the streets early in the week as it dumped to new 52-wk lows of .115.
lyamic lobbed this public grenade over the wall at jim dial on monday:
two days later, GFCI ***FINALLY*** (and i can't stress that word enough) made some public mention of one of the long-standing uncertainties that was dragging it straight down: they issued this PR about the CTBG dividend:
the second most promising thing about this PR is that, unless they are lying, the CTBG divvy will not only happen, but happen in a relatively time short time frame of about a month or two. maybe: there are no certainties with GFCI.
the most promising thing though, is the mention of the ratio of shares in the divvy: 1.89:1. this *seems* to confirm (and honestly, i can't say it with any certainty) that in fact, GFCI may really only have about 40M O/S shares. which has been a subject of wild controversy on the usual garbage message boards: just how many shares are out there. which is of course a big "if" in the wild west of the pink sheets, and also why i rarely buy pink sheet stocks and made an exception for a speculation in GFCI.
really, there are still a lot of "if's" - nothing is for certain still, despite the PR's for this week. but - things are certainly looking a whole lot brighter.
really pretty amusing: .115 one day, and the dreaded "c" word (capitulation) starts creeping in. two days later: pushing .30. heh.
we'll see how it goes. am of course, being a stubborn SOB, still holding my speculation in GFCI. very risky, but - i still like the risk/reward curve on it.
anyone else/any other holders - any thoughts? RY?
Posted by Disastrous on :
Hey Blue, Nice to see someone else from Michigan on here. I'm currently sitting on 115k shares, waiting patiently. I figure it will keep climing until at least May 1 when they issue the stock dividend for Coil Tubing shares.
I believe Lymanec bought 3 million worth of Grifco shares a while back for around 0.60/share. Which is one of the things I like because I want to believe that it will climb to that much at least in order to keep Lymanec happy. There was also a mention about a buyback that was authorized by the board ...here is the link
500,000 shares to be bought back over 12 months and another 20 million shares authorized but I cant find that link that mentioned the 20 million other approved shares anymore, its in the headlines somewhere.
Posted by blue_in_MI on :
nice to see this one north of .30 again, quite a run since the .115 bottom last week
Posted by blue_in_MI on :
mighty interesting 7pm PR from GFCI tonight - "Grifco to Commence Financial Reporting; Clarifies Lyamec Relationship".
Yes I noticed that too Blue. Volume has been pretty heavy lately as well.
Seems like Grifco always bounces back off the high teens but this news is alot different then anything they've had out before.
Posted by blue_in_MI on :
a little surprised couldn't hold .32-.33 range today, fell back to .30 by close.
it's going to be interesting to see where GFCI is at the end of april. the cutoff to get the 1.89 divvy CTBG shares is may 1. that's a pretty significant dividend, especially if the JetM's are going to CTBG. am holding and will continue to hold, hoping that GFCI will start to rise and stay there by the end of april. we'll see.
Posted by blue_in_MI on :
confounding dip - added a little more at .25
Posted by blue_in_MI on :
still at .25, though some buying today. possibly the last day to buy shares to qualify for the 1.89 CTBG dividend, not exactly sure.
have absolutely no idea how my "lottery ticket" in GFCI will play out here. eh, most of my picks are boring and very fundamentally solid, i have to at least have one irresponsible pick per year
still holding my small position long as a speculation, we'll see how it goes
Posted by Purl Gurl on :
Some short notes on GFCI for the past two years from my database:
OIL GAS oil and gas - pink sheet - reporting BLACK INK - eps $0.13 projected .024 connection to Halliburton / China oil - .18 loss on Friday, March 4 - .54 to 1.00 range 2004 Nov IPO 2.00 fell to .25 back up to .50 2005 1.00 to .25 to .50 high volume
Today's news about Lyamec is my first encounter with this type of activity. I am still researching to discover what this means for the company.
Purl Gurl
Posted by blue_in_MI on :
hmm - if you figure out GFCI, please lemme know! always a cloud of uncertainty swirling around it. so much promise, but - yet so many questions. lately, the gnashing of teeth is about the ex-div date, not to mention questions about whether any kind of financial statements will actually be presented by may 1.
in any event - was a nice bounce day for GFCI, .28 close. honestly i have no idea if it will dump tomorrow if people consider it to potentially be ex-div, or continue to rise as people try to get in for the CTBG divvy. neither one would surprise me - frankly, not much really surprises me with GFCI. as i've freely admitted all along in this thread: very much a "non blue_in_MI" kind of stock.
Posted by Purl Gurl on :
I have not yet figured out how Lyamec holds control over GFCI stock. Something about a "campaign" whatever that means.
As you can see I have been watching GFCI since 2003 year but have never felt comfortable with this stock; jumps around too much.
Potential is there but behavior is so radical and not predictable. This Libya deal sounds really nice but something seems hinky about it.
What concerns me, currently, is this Lyamec wanting to shake up the GFCI management team. Inherently, you have to ask, "Why?"
Purl Gurl
Posted by blue_in_MI on :
it is a strange relationship between GFCI and lyamec, the latest "shakeup" PR is actually the second very public grenade lobbed at jim dial. lyamec seem mainly to be "wheelgreasers on the libya front", as well as providing some cash (ie they bought 6M shares at .50 awhile back). GFCI was at .12 when lyamec released their latest public PR calling out dial, i'm sure that added to their peevedness. while GFCI deserved a chewing out imho for various reasons, i also think it should have been done behind closed doors, fwiw.
a little more light on the relationship may be shed by this PR from last june:
there are really any number of questions about GFCI, as i've tried to detail throughout this thread/mainly monologue on GFCI. absolutely no question, it is very risky, the risk-averse should avoid with a 10-foot pole. personally, somehow i am attracted to it though - swinford's little inventions strike a chord with me, libya has promise imho, and the jet motor is very intriguing (though also shrouded in mystery, like most things with GFCI).
i am in GFCI for a speculation for a small amount, holding long. i still find the risk/reward prospects appealing, personally. eh, what can i say. 99.9% of the time i'm the "board fuddy-duddy", GFCI is one of my rare "indulgences" away from my usual attempts at a "safe and sane" microcap basket.
Posted by Purl Gurl on :
Blue writes,
"a little more light on the relationship may be shed by this PR from last june"
I read that news. Rather odd. Those boys appear to be involved in childish bickering. Weird.
My guess is Lyamec owns a substantial amount of GFCI stock, enough to wield financial power. Clearly Lyamec holds a type of contractual advisory role.
Record date for the CTBG spin shares is May 1 coming up soon. Equally odd. They indicate a 1.89 spin for 1 GFCI share. CTBG traded today around .21 with a healthy million plus volume.
Rounding for ease, GFCI and CTBG are about equal value. Roughly 2 shares of CTBG for 1 share of GFCI of record. On May 1 your equity in GFCI will increase about 200 percent assuming per share values to be about what they are now.
"Too good to be true."
To be sure readers understand, an example.
You have 1,000 shares of GFCI at .28 per share for an equity value of $280 on the market.
May 1, they spin you 1890 shares of CTBG which is 1.89 CTBG share for 1 GFCI share. Assuming CTBG to be .21 per share, this is an equity value of $396.90 on the market.
Add your GFCI $280 and your CTBG $396 and now you have an equity value of $676 which which more than doubles your original equity.
A bit more real, should you have 10,000 shares of GFCI, multiple those numbers by 10 which yields a $6,760 gain from the May 1 spin.
This is way odd; too good to be true.
Have I this right or am I confused?
Purl Gurl
Posted by BuyTex on :
got a link? I checked the dailylist and found zip. And we know about "too good to be true" . . .
Posted by Purl Gurl on :
GFCI traded around .28 today. CTBG traded around .21 today.
Can you make sense of this?
Purl Gurl
Posted by BuyTex on :
will take a look now...
Posted by Purl Gurl on :
* crosses her legs *
Stop that! What? You think I am Sharon Stone?
Purl Gurl
Posted by BuyTex on :
uh oh...
you, too, read the spins as common stock, correct?
Given that, they have no idea of "the last date to buy," per NASD's inability to set ex-date without proper notification.
We agree on what they're apparently intending, ie nearly 2:1. 10 shares GFCI yields 18.9 shares CTBG.
Somewhere they must address fractions/round lots, even if only in instructions to TA...
May well be "good companies" (ie, not GLUVettes), but they're headed for a PR fiasco with these PRs...If they haven't given NASD 10 days' notice, yet, they'll be hard-pressed to do anything by May 1. Caveat: did see a "restricted share" divvie debacle get herded through earlier this a year (a Sandy Winnick deal, lol) in which NASD let late/misfiled/bad PR deal go through without ex-date. In effect, record date "becomes" ex-date and you go to T+3 ...
Posted by vg on :
Gluv play might be good if you are in it. It was fun (at least for me since I got money through ameritrade)not so much for others, Ameritrade gave out the money, made 1400 from 100 but hey blue u've held for long so if you make some bank on this one i'm happy for you. I wouldn't gamble it. If I was in the stock would have been a different case. Good luck blue
Posted by blue_in_MI on :
in addition to holding quite a bit of GFCI stock, lyamec is also a 15% partner on the $20M initial libya deal as well. no doubt though, they have a very odd relationship, bickering much like my own kids sometimes even.
i never believe "too good to be true", so i assume GFCI and CTBG will have to adjust prices post-split. i dunno - whole thing is pretty crazy though - i freely admit. just impossible to say how it will play out, so many questions. i dunno if the may 1 date will hold - could be that if they file CTBG financials a month from now, that the may 1 date will become meaningless and the true date will be june 1. just - absolutey - dunno, shrouded in confusion.
like i said - it's a very non-blue stock; i'm a career bunt single hitter who is taking a rare swing at the fences, what can i say. odds are low, no doubt; i went in with a small speculative stake, willing to accept a 100% loss of principal. but - if it pays out, reward mighty interesting.
Posted by Purl Gurl on :
Yes, Tex, I read the spins as common stock.
* sticks out her tongue at VG *
Ameritrade, blah! E*Turd gave me 100 shares of MAMG worth 0.00 per share! Woe is me! I lost $250 on this pair of GLUVs.
However, we were trying to short squeeze...
Blue, Tex, I am not sure what to make of this GFCI spinoff. After the GLUV comedy, I do not trust any spinoff deal. Tex is right. GLUV taught us a spinoff can end totally FUBAR.
If those CTBG shares are restricted, this is not worth diddly-squat. I already have tons of "worthless" restricted stocks cluttering up my screen display, which I cannot get rid of. Tried to convince E*Turd to return those worthless shares to various companies, with a note reading, "F-word You" but E*Turd said no.
Only way to rid yourself of worthless restricted is to request paper certificates to remove them from your account; expensive toilet paper.
I am plan to contact GFCI to ask if those CTBG shares are common or restricted.
Purl Gurl
Posted by BuyTex on :
when you do, ask them about contact/notification re NASD/ex-dates, etc...
Posted by blue_in_MI on :
PR this morning: "CTT Addresses SEC Reporting Status and Reiterates Record Date for Spin-off of May 1"
i'd try to analyze it, but - eh, it's friday, i need a beer, and it probably wouldn't do much good anyway.
short summary is: usual circus/usual delays, and GFCI in theory is now ex-div (although will be debated ad nauseum for the next 6 weeks on any GFCI board i'm sure).
not much to say - i'm still holding my small stake and will continue to do so. call me an idiot but i still like risk/reward on this one and think it will eventually have it's day, despite the incompetence of management to handle anything relating to filings or paperwork.
Posted by blue_in_MI on :
i don't even know what to say. GFCI basically hit rock bottom today: .10 a share.
after hours, 7pm, this PR comes out: $2.25/share offer, supposedly.
$2.25.
shakes head.
like most Grifco PR's: very poorly worded, and brings up at least as many questions as it answers. clearly the PR was put out by lyamec and not GFCI.
lyamec has "reached an agreement with Grifco to move on the $2.25 per share offer".
don't even know what to say, still shaking my head. i'm certainly hopeful that it's true, as i own a speculation in GFCI. but - of course, who really knows.
does this mean trading is halted on monday morning? no mention, i have to assume it's not.
all i know for sure is: monday is going to be a *very* interesting day for GFCI.
Lyamec in Agreement With Grifco on $2.25 Per Share Offer LONDON, July 7 /PRNewswire/ -- Lyamec announces that it has reached an agreement with Grifco (Pink Sheets: GFCI) to move on the USD $2.25 per share offer: 'We look forward to receiving fully executed documents in the upcoming days, and look forward to move to closing.' Lyamec states acquisition initiatives on the 5 year outlined USD $76.5 Million GPC approved Libya facility entails an additional premium of USD $28 Million to be paid directly to Lyamec. In a statement by Interim CEO RG Raymond, 'Clearly, it would be an unwise decision on anyone's part to perceive that any offering to acquire a majority stake of Grifco at this stage will lead to leveraging their position on the Libya facility without our approval, regardless of Grifco's current assets and or commercialized tools and products. Notwithstanding this, Grifco is now to resume consolidating its assets for closing.'
The Global Oil Tools Libya facility in Misurata is strategically located to provide ready access to critical key distribution points from which Global can deliver tools to regional customers on a just-in-time basis. Global's advantage in North Africa is the ability to provide a localized, fully integrated development, manufacturing and shipping facility over competitors shipping tools from distant distribution centers.
About The Lyamec Group
The Lyamec Group (www.lyamec.com) was established in 1999, to fulfill the existing and expanding demand for U.S.-made products. The Lyamec Group provides vital assistance in laying unique and integrated platforms with cross-border assets to further streamlining efficient and effective opportunities and solutions.
Global Oil Tools (Pink Sheets: GFCI) is ISO 9001 and A.P.I. Spec. 14A certified and Quality Assurance Program conforms to all specifications set forth in ISO 9001 (ANSI/ASQC Q91) and A.P.I. Spec. 14A. Global has strict quality control standards, starting with the purchase of raw materials, through the manufacturing process, the inspection process, and the shipping process. Global maintains complete traceability on every product manufactured.
This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com
SOURCE Lyamec Corp.
Source: PR Newswire (July 7, 2006 - 7:00 PM EDT)
Posted by weatherbill on :
This line makes it look pretty darn official
Notwithstanding this, Grifco is now to resume consolidating its assets for closing.'
more PRs next week I'm sure on the closing papers being signed
Posted by blue_in_MI on :
imho it's wise to never say "i'm sure" in the markets, particularly with GFCI and particularly when the PR is murky.
that caveat aside though: i have to admit that i've been searching my bitty memory banks to try to remember a PR as shocking as this one, and - i can't think of one.
the price per share number bandied about in the PR is a factor of 20.45 - TWENTY POINT FOUR FIVE - over the closing price today of eleven cents. i know buyouts have been bandied about in PR's by various companies all the time, but - i can't ever remember one that ever approached this factor of 20 premium before.
to me, the most memorable PR i can think of over the last few years in the market is RVMO's PR that had the very first words "If the check is good" right in the subject. of course, that one was notable mainly for being the funniest and most ludicrous PR released in the last year by any company, imho.
this one by GFCI though, i'll admit that it left me stunned. no idea how it will play out, but - can't ever remember my jaw downright hitting the floor when reading a PR before, like it did with this one. nearest i can think of is that WNMI one years ago when they first signed paris hilton, and it became a 10-bagger within 2 days (though of course since became a 10-bagger and more in reverse, heh). that was fun, even bob frey got in on the action as i recall.
can anyone else link me to a PR this jawdropping over the last year, by any company? i'm curious actually, i'm sure i missed some fascinating ones. i always thought it'd be interesting to have some kind of "top 10 PR's on the OTC and pinks of the last year" list.
Posted by Disastrous on :
Does this mean the Coil Tubing Dividend is not going to go through? This news caught me a little off guard.
I have been sitting on gfci for a while. I never thought it would get down to 0.11/share and now this news!?! Not that I'm complaining ;-)
Posted by T e x on :
sumpin' to consider, for sure...
Posted by blue_in_MI on :
no idea re: CTBG divvy - not surprisingly, no mention of it either way in the PR.
funniest post about this PR was on RB, i got quite a chuckle out of this quote:
"I take back what I said, Dial is a genius. I love him. If he were not so fat, I would probably do him"
Posted by Disastrous on :
That's pretty funny stuff... what's RB by the way?
Posted by Purl Gurl on :
Hmmm... something ain't right.
Be sure I will be watching this one before market on Monday. I would expect an extreme gap up before market open. This will verify, at least, a possible run, maybe a day trade.
I agree with you, Blue, this is a major surprise.
I leaning towards my traditional,
"Something ain't right."
Purl Gurl
Posted by blue_in_MI on :
no doubt, this PR raises a whole lot of questions. since i'm a pro/con kind of guy, breaking it down:
*** Con
- the PR is issued by lyamec, and lyamec alone; not jointly by GFCI and Lyamec as some other PR's have been. there is no quote by dial, it's unilateral. is dial and crew on board with this buyout, or is this lyamec "bullying" GFCI and/or some kind of staging for a powerplay?
- (related to first point): there is the strange warning/shot across the bow by lyamec and the $28M mention:
"Clearly, it would be an unwise decision on anyone's part to perceive that any offering to acquire a majority stake of Grifco at this stage will lead to leveraging their position on the Libya facility without our approval, regardless of Grifco's current assets and or commercialized tools and products."
- PR doesn't read as a "done deal": ie there is no talk of the company doing the buyout, no "trading will be halted before open monday" note. the quote from the PR is: "Lyamec announces that it has reached an agreement with Grifco to move on the USD $2.25 per share offer". it would of course be much better if it read "Grifco and Lyamec have agreed to close on the $2.25/sh offer from xxx-company and trading will be halted before open monday".
- it strains credulity to beleieve the 20.45x premium to closing price: ie, your "something ain't right", purl.
*** Pro:
- there is some specific wording in the PR that *could* be interpreted as the deal being pretty close to done. ie -
"...move on the USD $2.25 per share offer: "We look forward to receiving fully executed documents in the upcoming days, and look forward to move to closing." ".
they say *the* $2.25 per share offer, interestingly. the PR basically concludes with "Grifco is now to resume consolidating its assets for closing". Interesting word choice - "resume", rather than "start". resume is defined at dictionary dot com as "To begin again or continue after interruption" - there is a clear "again" meaning ot the word, implying that they had begun the consolidation of assets/closeup before, then had an interruption, and are now to start again. interesting, though admittedly perhaps meaningless.
- i've posted in several places that part of why i'm willing to take a speculation in GFCI is because of the whole libya aspect, i do see the potential as being huge there and lyamec as being in a good position. perhaps it's jim dial's once in a lifetime lucky day and a large premium could be paid for GFCI mainly in part due to the "inroads" GFCI/lyamec offer into libya and their positioning. ie, the "right place at the right time" effect i've mentioned as a potential plus in other GFCI posts.
--
in summary, just too hard to say: too murky. tossing out the general info stuff, there are exactly 5 sentences in the PR about the buyout. just not enough info to draw 100% conclusions, and murkily worded at that.
will be interesting to see if there is another PR on monday, perhaps issued by dial, clarifying anything on this buyout.
i hate to compare GFCI to NDOL, because i've made it clear that i'm not a fan of NDOL, whereas i've been willing to take a small speculation in GFCI. but - NDOL is of interest to compare in the case of this buyout offer, in trying to guess the trading patterns of GFCI next week. NDOL started mentioning their buyout stuff in early april and then on may 8 bandied about the $2.17/sh buyout number. it ran from similar lows as GFCI up to $1.50 before falling back down, or 69% of the purported buyout price, which would be $1.55 in GFCI's case. does this mean GFCI might go to 1.55 this week? eh, i doubt it, but - who knows. really, neither .20 nor 1.50 would surprise me, though i'd be surprised if GFCI traded much below .20 on monday.
the question for traders is "what % of the purported buyout price am i willing to buy GFCI for?", in factoring in risk/credibility/all that. clearly it won't be close to 100%, but then again i'd doubt that it will stay at the current 4.89% either. what's "reasonable"? 10%? 20%? 30%? 20% would be exactly .45. really, i have no idea what will happen with GFCI next week, except that it's going to be a rollercoaster and danged fascinating to watch.
Posted by weatherbill on :
I agree.....caution is the word here and may be a great day trade, but def need the clarifying PR of detials.....who is the buyer? are they officially closing a deal? etc etc
will be fun to watch....in at .115 with 40k, so I can afford to kick back and just see if the big bucks come in on this one.risk/reward for me is excellent
Posted by Purl Gurl on :
Weatherbill, I hope this one flies to $2.00 per share for you! That would be great!
You are a pretty decent chap. You deserve a reward.
Purl Gurl
Posted by blue_in_MI on :
anyone want to venture a guess as to where GFCI goes tomorrow morning? sure is gonna be interesting.
nearly all of my stocks are boring and fuddyduddyish (at least for this board), GFCI is my primary pure speculation. so i'm a lot more familiar with thinly-traded slow-movers, than i am with wilder pinkies like GFCI.
purl, glass, anyone else want to venture a guess as to how high this might go tomorrow? there's a poll over on ihub and the guesses pretty much run the gamut:
Blue, casino bet for me.......$350.00 Lose $100.00 out Win $ 100.00 out
Lowers the stress level that way...lol
Posted by Dustoff101 on :
On further review?
me thinks a lot heavier bet just might be in order...LOL
Posted by Dustoff on :
quote:Originally posted by Dustoff101: Blue, casino bet for me.......$350.00 Lose $100.00 out Win $ 100.00 out
Lowers the stress level that way...lol
------------------------------------------------- Please ignore this post...
Newbe's follow the pro's on this one, I know I am. Much more to this play than a simple Casino bet attitude..
Will be moving money around so as to maximize potential profit taking....I'll get outa the way now, and let the Pro's do their DD.
Posted by weatherbill on :
gap, small run maybe, then the dip, then alot of players will be buying in........that's what folks are saying on other boards for their entry.
Let the firworks begin! In with 40k shares
Posted by blue_in_MI on :
man, what a day - rollercoaster ride.
today was a good example of how it's REAL tough to try to mix a demanding regular job with dabbling in the market. i had a big webex "meeting" this morning (kind of like netmeeting where you can share files etc) with guys from kiev, austria, and germany that ran from 9-11am. so i was both on the phone and on this webex-browser thing, and other people can "force their desktop" onto yours to show you schematics and spreadsheets and the like.
so here i was trying to buy big chunks of GFCI at the open while also on my desk phone and also at times my cellphone at the same time, while trying to do this damned webex meeting thing and having people force their desktop onto mine right as i was hitting either the buy or sell button or trying to watch the ticker. auuuughhh!! then as soon as the danged webex meeting was done i had to immediately drive off and go to a meeting offsite, so actually had no PC access all afternoons. all i could do was track it on my sprint-pcs cellphone, which was also amusing in and of itself. i pretended i had to go to the can just so i could sit there for awhile in stall #2 with my cellphone and check on the GFCI price quote repeatedly for 10 minutes, heh. talk about a poor man's "ticker!"
anyway, was a crazy but fun day. i'm a small-time stock player with most of my assets still in mutual funds and also a hedger/chicken, so was actually a first today for me making 5-figure profit on one stock in a single day.
am still holding a decent chunk of GFCI. i admit it's risky and haven't been shy about expressing my feelings on the cons, as well as the pros of Grifco. but - it's all about risk/reward. i'm boring and fuddyduddyish with most of my picks, i'm willing to let at least a portion ride long with GFCI and see how it plays out. as i've said in this and various other GFCI threads - despite some of my reservations, i still see promise in the libya aspect. we'll see how it plays out
Posted by glassman on :
geez blue, you're ruined now, you've been de-flowered.... Posted by Batman on :
quote:Originally posted by Purl Gurl: Weatherbill, I hope this one flies to $2.00 per share for you! That would be great!
You are a pretty decent chap. You deserve a reward.
Purl Gurl
How bout me?
Posted by glassman on :
what batman? now you wanna be de-flowered too?
Posted by T e x on :
beautiful Blue...
funny, ironic (too rich to go into, now)
Posted by Blue Marlin on :
There's room in the Sea for two, just call me Marlin!
Pacific Blue Marlin Central and South Pacific Ocean' species do range World wide.
Posted by coalkickin on :
Anyone care to speculate where this goes tomorrow?
Posted by Blue Marlin on :
Up?
Posted by coalkickin on :
A more definitive speculation? I was tempted to bail today, decided to see where it goes tomorrow.
Posted by ajman on :
Does it sound to anyone else that this is lyamecs way of putting off another suitor for GFCI.
"Clearly, it would be an unwise decision on anyone's part to perceive that any offering to acquire a majority stake of Grifco at this stage will lead to leveraging their position on the Libya facility without our approval, regardless of Grifco's current assets and or commercialized tools and products."
I have no proof of any other suitor and quite frankly had not considered it until rereading this for the umpteenth time. I am researching this but I'm having to set my parameters way to wide for me to expect any significant results. Just thought I might throw this out to see if there was any input that my help in my search.
Posted by ajman on :
I don't know it is just a thought.... According to their June 8th PR they have several suitors,,,,,,
Just sounds to me that one of the suitors may be dealing directly with GFCI and not involving lyamec and their feathers are ruffled and they have fears of losing access to the libya property.
Posted by Blue Marlin on :
quote:Originally posted by coalkickin: A more definitive speculation? I was tempted to bail today, decided to see where it goes tomorrow.
------------------------------------------------ Sold one position for a nice little profit.. Held 3 positions for tomorrow...
Strong close in my opinion. Settled funds may be short for some traders without margin..But that kind of volume today may negate any settlement effect due to the number of people playing..
Posted by coalkickin on :
I'll be watching closely in the morning...
Posted by ajman on :
On June 8th they PRd that they had received offers as high as $1.55 per share. With the Global Oil Tools Libya facility in Misurata being in such a strategic location for distribution to the rest of the mid east and africa, I don't think the $2.25 price per share is out of line at all.
It is only natural that the pps offer would continue to rise as this company with this facility is in a position to be a great benefit to the oil companies in the region.
Lyamec has already invested substanially in this company and knows the benefits of the location and the expertise of Grifco. It appears to be good business for them to make and follow thru with this offer,,,,,,,,JMHO.
Posted by djg7 on :
Premarket .30 x .305.
Posted by Blue Marlin on :
B.T.W Blue, great pick!
Marlin hehe
Posted by 66inxs on :
right djg7 not a gap up this am as some of us expected. there seems to be a lot of resistance so far around .30. i will be watching this one closely today too. GL an do your own DD !!!!
Posted by djg7 on :
.305 x .31. We couldn't break through .31 after yesterday's first run. .31 seems to be the wall.
Posted by Hannibull on :
morning pullback?
Posted by ajman on :
they shook it hard this morning,
Must really want our shares bad
Posted by Blue Marlin on :
Somebody around here should of loaded, I hope..LOL!
Posted by Girls Gone Docile on :
people are starting to take the ask.
Posted by P Rowds on :
if lyamec and grifco are "in agreement" with 2.25 why is this trading so low?
Posted by cassity on :
I think MM's need shares bad. I put in a order at .24 and it took a long time to fill. JMO
Posted by Baxt06 on :
where's the support on this one? .21?
Posted by 6digits on :
Has anybody confirmed anything about this offer yet. I tried Jim Dials number and the invest rel # and no answer. It would appear from the PPS that there is confusion or doubt around the buyout or I would think the pps would be going up a lot. I'm trying to decide if I should get 100k shares for the ride.
Posted by P Rowds on :
well who knows... with what happened with NDOL recently maybe everyone is being very cautious with this one...
Posted by Hannibull on :
this buyout, what exactly will happen? Do we get a cash dividend of $2.25? Symbol change with an opening price of $2.25? anyone?
Posted by 6digits on :
I can't tell you that. If it a buyout is occuring I won't stay around long enough to see it.
quote:Originally posted by Hannibull: this buyout, what exactly will happen? Do we get a cash dividend of $2.25? Symbol change with an opening price of $2.25? anyone?
Posted by Blue Marlin on :
rowds, maybe traders are hacking they're way outa the house to the mail box...Manalive the grass is growing right now...The way some have been glued to they're puters, well maybe they discovered outside again..
Posted by Batman on :
quote:Originally posted by P Rowds: well who knows... with what happened with NDOL recently maybe everyone is being very cautious with this one...
I was actually in NDOL at that time of their buy offer, and made a decent profit. But with this PR they said the already agreed. With NDOL It seemed more shady from the begining. First, they didn't even announce who the offer was from, just that they recieved an unsolicited offer. They let it drag on longer than they should. This is from the NDOL PR
"The company has opted to keep the information confidential until such time as the purchase offer can be bona fide and the amount of the offer confirmed. The company will make every effort possible to review the offer and offering party and release said offer information as soon as possible."
Here's NDOL's PR's about offer and Merger in order.
With GFCI, The first PR they mentioned who, and how much, and also that they have agreed. This seems more solid than the NDOL. And I think there's no question that this will run until there's a reason for it to stop.
Posted by 6digits on :
The numbers I have been calling are for Grifco. FYI.
1-936-788-5994 is Jim Dial, this is on the corporate contact us link. They also told me the IR guys number got a recording. That # is 1-312-493-2171.
Posted by Batman on :
quote:Originally posted by 6digits: The numbers I have been calling are for Grifco. FYI.
1-936-788-5994 is Jim Dial, this is on the corporate contact us link. They also told me the IR guys number got a recording. That # is 1-312-493-2171.
What was the IR guy's name?
Posted by 6digits on :
It sounds like he is saying Frank Hurts on the recording. Try it and see what you think.
Posted by Batman on :
quote:Originally posted by 6digits: It sounds like he is saying Frank Hurts on the recording. Try it and see what you think.
When I called I asked to speak with IR. She said, "that would be R.G. Raymond, but he's not in now", and then transfered me to his voice mail. I called another # though
The Lyamec Group (HQ) The Lyamec Corporation Lyamec & Associates Prosperity Bank Bld Citywest Blvd Houston, Texas USA (281) 599-8990
Posted by P Rowds on :
haha blue... very true. too hot out there isn't it? haha, i only have a little puter time left. in pitt right now then probably go tailgate at the allstar game soon. i'm on leave right now so i have all the time in the world haha...
exactly batman, when ndol was shady about it, it popped... when gfci is clear about it, it stays pretty low?
Posted by 6digits on :
Batman I got the IR # from the lady that answered Jim Dials number yesterday and told me he was on the phone.
Did you find out anything on your call. PM me about it if you don't want to say anything here.
Posted by 6digits on :
I just tried Raymond, the lady connected me, but I got voicemail.
These guys aren't making it easy.
Posted by bowlegtroy on :
"Can you confirm or deny that the buyout offer from Lyamec is accurate and moving forward?
There is a lot of speculation in the world about your position regarding this press release, however, no confirmation from Grifco Intl?
As an investor, I'm extremely interested in this information
Please let me know ASAP."
The newsgroup forums that you can get to have no new information, though (and you cannot sign up because the "verify the text in the picture" sectin doesn't load a picture!). Here's the newsgroup link:
that ought to make him respond faster.....LMAO
Posted by 66inxs on :
if i had the time i would actually call one of those numbers just for laughs. i never got in on this one at all, so i have to laugh at it. hope all of you got through this dip ok. i almost bought at opening bell, but level 2's started dropping so i went on to something else today. try t r a d e r s n a t i o n .com for level 2's if you don't have access from your broker. they are 15 min behind but they give you a broader picture of what is going on, hope this helps!
Posted by 6digits on :
All these IR guys and Presidents and stuff must be in hide mode (busy in meetings etc,)now, I couldn't get any of them on the phone all day.
Posted by cassity on :
I tried calling the IR guy, I think his name is Ryan. Anyway, I left a message, but I'm sure they have more important business to take care of then answering our questions. JMHO
Posted by cassity on :
Sounds like Lyamec pretty much already owns GFCI. I think this has been going on for some time now and will be completed in the very near future. JMO
Posted by cassity on :
I hope my previous post is not mis leading, I'm not saying they do own GFCI, just that they have a lot of control in their business endeavors. The reason I think the buy out will be complete very soon: if you read the buyout PR carefully they make a comment about file the paperwork soon. Let me know what ya'll think.
Posted by Blue Marlin' on :
Sorry players, but we got a little problem Houston..Looks like some pumper site selling, 400,000 shr. payment..Some cash too..
First thing a trader should do is check the news source, 'specialy on a Pink.
NSS at play here I think as well...This thing could scream or tank, it's not for the amateurs..
Let's see what happen's in the next hr. or so, might get some direction by then..
Many of you must of seen how time and time again, the pump sites kill a stock, you would think the companie's would learn..
We just might beat the odds here tho, seasoned traders know that, others BEWARE!
Posted by bowlegtroy on :
Ok, first: Where did you find that information?
Second, what is "NSS"???
Posted by bowlegtroy on :
I just checked the Naked Short sites (NSS=Naked Short Selling) and, they are not listed there???
Posted by Blue Marlin' on :
Good on the NSS! back in a minute.
Posted by bowlegtroy on :
Breaking out!
Posted by Blue Marlin' on :
Check news release on 7/7/06 bottom of the page it's there.
Nice move up now...Hey cussing um out works!
Posted by 6digits on :
Blue Marlin, you make know sense your last post screams BS.
Posted by Blue Marlin' on :
6, you better re-group and I mean fast dude..Read the damn report look at the bottom of the page of the news release.
Posted by bowlegtroy on :
BM, what ARE you talking about? I've read that PR like 100 times! Is there a different one that you are reading???
Posted by Blue Marlin' on :
Read again , do I have to post the damn thing?
Posted by cassity on :
Please do! thanks
Posted by bowlegtroy on :
Yes, I believe you need to highlight where it says "BTW, there's a paid pumper dumping 400,000 shares into the market".
Posted by Blue Marlin' on :
INTK Disclosure: Pentony Enterprises LLC was compensated $46,000 by a non-controlling third party for profile coverage. GFCI Disclosure: Pentony Enterprises LLC was compensated 400,000 free trading shares by a non-controlling third party for profile coverage. In accordance with our policy to sell all shares, we no longer have a holding in GFCI. RPID Disclosure: Pentony Enterprises LLC was compensated $12,000 for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Posted by Blue Marlin' on :
You guys got a lot to learn.
Posted by Blue Marlin' on :
about the NSS, great! if it's not on the show list..Now, but I said maybe! lets see if it shows up..
I am in this stock heavy, but I do not BS on this one.
Huge differance between humor and BS, fella.
Posted by bowlegtroy on :
Dude, you're talking about a stock profile from s tock g uru . com???
Tha's not *the* PR from Lyamec...That's completely different.
Maybe I do have a lot to learn, but for GOD'S SAKE, be CLEAR!
Posted by Blue Marlin' on :
Are we having fun yet? LOL
Absolutly bowl, will do in the future!
Posted by cassity on :
Thanks for the info Blue.
Posted by Blue Marlin' on :
Cassity, ya'll should probably call Marlin for short I am not the original Blue...
Blue Marlin = Dustoff...Heck call Dusty if ya want, just don't call me to late for dinner.LOL
Posted by bowlegtroy on :
So, does this mean that there an additional 400k shares in the float and A/S? Or were they existing and just changing hands around?
Also, if the shares are dumped already, it's holding up alright under the pressure, no?
Still learning.....
Posted by 6digits on :
BL, thanks i'll look into it. The official company reps don't seem to have any time for shareholders, so they could set us straight on stuff.
Posted by bowlegtroy on :
Yeah, I sent another email this morning....still no response.
It's all over the place this morning, though. Maybe somethings up?
Posted by Blue Marlin' on :
Yep bowl I think we are OK, but we still have to watch out for a spit ball, the NSS is always a possible..
Posted by Blue Marlin' on :
Last point here on the site issue...Latter on the discussion thread maybe all should meet to discuss... Back to the stock.
Posted by bowlegtroy on :
True. With no confirmation or denial from the company, things could get weird.
Even though there could be some NSS, they'd have to go hard and heavy, and fast, with the new rules for Pinks now in place. I mean Knight securities doesn't need more investigating by the SEC, (although only giving up 10% of their profits was only a slap in the wrist). LOL
Posted by cassity on :
The delay isn't bad either! Only a minute or so for this GFCI from what I'm seeing.
Posted by cassity on :
Thanks BOWLEGTROY.
Posted by bowlegtroy on :
Although every time I refresh, I think I get some random L2's from another stock! I re-enter GFCI every time, too.....
Posted by 6digits on :
I'm staying out of this. A phone call to a top exec just convinced me to do so.
Posted by Blue Marlin' on :
Ameritrade? just click double arrow then enter sell or buy, then just click go tab on get quote bar..don't have to enter each time.
DO NOT enter a price, unless you want sell or buy..just incase you missfire!
Posted by cassity on :
What did he say.
Posted by 6digits on :
cassity, look for a PM.
Posted by bowlegtroy on :
6d....c'mon....share with the rest of us?
Posted by Blue Marlin' on :
6, just spill it..Whats going on?
Posted by 6digits on :
OK this is it. Just remember you asked for it. I got Jim Dial on the phone this morning and he said he isn't selling his company. The PR has something to do with something in Libya and there was a PR released in London about it. But to make a long story short, i'm staying out because it might be a scheme by somebody to make people think otherwise.
Posted by P Rowds on :
ummm... is that the truth?
Posted by 6digits on :
To add to the info, talking with him was as confusing as the PR, but one thing that was clear is that he isn't selling out. Unless he was lying to me, any way i'm not gonna touch it.
Posted by P Rowds on :
6 whats that number that you called again real quick...
Posted by 6digits on :
quote:Originally posted by P Rowds: 6 whats that number that you called again real quick...
1-936-788-5994. If I thought this was a good deal I wouldn't say I was staying out and I would want buyers coming in to increase the pps.
Posted by Blue Marlin' on :
Out at .25 some profit, but not what i wanted.
Posted by bowlegtroy on :
Well, there goes another $200!
Posted by Batman on :
Thanks 6D, I appreciate it, Saved us from a disaster.
Posted by P Rowds on :
dial is on conference call and i just tried calling RG Raymond from lyamec group he's out of country....
Posted by P Rowds on :
Left a message with Patrick Reeves, IR, for lyamec... only guy still in the states. hopefully he calls back...
Posted by Blue Marlin' on :
Team work can save your beeee--hind, huh
Sumpin else: What if there is another pump coming? They sell the shares first! Damn Pinks!
Posted by Peaser on :
In with a small position at .245.
Posted by Blue Marlin' on :
peaser, huh? why?
Posted by glassman on :
LOL....
Posted by Peaser on :
Just a chart play.
Possible pennant end around 3pm EST today.
Posted by P Rowds on :
i'm not doubting anything 6... just would like to hear it as well. that PR was released 7Jul... it's 12Jul, why wouldn't they squash the rumor?
Posted by Blue Marlin' on :
peaser peaser peaser, what else can I say..LOL
Me is going NASDAQ hunting, it's that time of yr. to find the buys in there..Summer bargains..
Posted by Blue Marlin' on :
wow, did little ole us stop this thing? LOL
or did peaser do it!
Posted by Peaser on :
Prolly me! Posted by Blue Marlin' on :
I want to stress extreme caution on this stock..
Read back thru the thread and you will see why.
Posted by P Rowds on :
sooooo..... ok, bogus PR released in London right? then why is that PR listed on Grifco's website?..........??????? now i'm all kinds of confused. and they are still in merger talks according to there website... hmmmmmm
Posted by 6digits on :
I have more stuff. One thing I can say is this stock is shrouded in confusion and chaos right now. Rick Kurts (not sure about the spelling) just returned my call from yesterday. He is saying that the buyout offer is legit, but he is basing his opinion on the PR that we are seeing. I told him how it is not clear and causes confusion and people don't know whether to accept it as fact or fantasy. I said they should release another PR to clear things up and he agreed. He said that he has been traveling and just got back, and he has to get a hold of jim Dial and find out whats next. I told him that Jim Dial denied the buyout. He said I have to get a hold of him and see whats going on. My head is spinning.
Posted by Blue Marlin' on :
Thats why the warning rowdy....
Posted by P Rowds on :
haha... that works, maybe i'm just jealous cuz i my 3 day trade period ends tomorrow;) i left msg after msg... though i was gonna get a hold of dial 20 min ago but i guess he "had" another call... haha, alright, i'll sit back for a while and hopefully things pan out for the best
Posted by 6digits on :
The PR released in London isn't supposed to be bogus. It just was released in London. The rick Kurts guy is Grifco's PR guy, maybe there will be a follow up PR soon, I hope so. I'm sticking my neck out again and buying in now for some shares.
Posted by Peaser on :
LoL, make up your mind 6.
Posted by 6digits on :
My mindis madeup
quote:Originally posted by Peaser: LoL, make up your mind 6.
Posted by 6digits on :
Peaser, best bet is to make up your own mind on what to do, that way my mind won't be an issue.GLTA
quote:Originally posted by Peaser: LoL, make up your mind 6.
Posted by Peaser on :
Did that already. No dilly-dallying around!
Posted by Blue Marlin' on :
peaser, be very careful with this stock..
Many of us are trying to figgure it out..No verdict here just yet..Don't go overboard! This thing could bite you..Upside? who knows....
Posted by Peaser on :
I hear ya, I'm looking for info as well.
Thanks D.
Posted by P Rowds on :
well... no call backs, they must not recognize my name for some reason;)
Posted by Blue Marlin' on :
.215 fella's...Glad I got out at .25 with some profit.
Out at .305 yesterday, 1 position Had 4 positions.
New folks, todays action is very good expieriance to learn from...
When I first put out the alarm? that was not bashing..What it became was people working together on info that began to show a dought that the holding of this stock at the higher levels was not a good idea until we can find out what the heck is going on..This is the behavior of Pinks..READ the news releases on these things FIRST! Many times you will see the pump and dump by searching in the release, search for who paid who what!
peaser is a long time poster who probably played this by the chart...Charts many times in the pinks can bite you..
Xkem was another example of people being warned.. .112----------->.0326 close, shows .0326 L2'S Several days coming down....
[ July 12, 2006, 16:21: Message edited by: Blue Marlin' ]
Posted by Blue Marlin' on :
Thought of something else.........
New folks, make sure you understand tax liabilities concerning trading stocks...
It always a good idea to deduct the tax percentage of profit and put it in savings just in case you have any profits over $3000.00 loss carry over from previous yrs. losses..
No carry over? Then start at first profits... Sometime it might be the profit for the year! lol
There are many loop holes, but I am talking to those who may not understand..Call an accountant, if you must..
Posted by blue_in_MI on :
probably i'll regret it, but - i'm going to hold 20K shares GFCI long and see what happens. clearly it's become a daytraders plaything for now (heck, even fuddy-duddy me daytraded it monday) and the sudden rise and slow dip is hardly a surprise.
really what it boils down, as it does for all stocks, is: risk/reward. the only difference with GFCI is that the numerator and denominator in that equation are about 10x larger than what i usually deal with.
in rough terms, the market seems to be giving grifco a 10% shot of actually closing the deal: today's close is about 10% of the $2.25 number. personally, i give the whole deal about a 15-20% shot of going off. therefore, even though i see a roughly 80-85% chance of things going south, risk/reward still strikes me as reasonable for a small speculation given that 15-20% is > 10%.
i freely admit though: GFCI is not for everyone, and it's not the type of stock i usually play. it's my irresponsible guilty pleasure/dabbling in my normal sea of responsibility, if that makes any sense. i can live with it going to zero if that's how it plays out. i freely admit - any new traders would probably be best to steer clear of GFCI.
Posted by cassity on :
Hey Blue Marlin, I have a PM I'm trying to send you but your mailbox is full. Just a tax question.
Posted by Blue Marlin' on :
not a tax man,,basicly posted what I understand from my accountant....I just drop everything off, call him when needed, he is on a sort of re-tainer..lol
I pay him $500.00 a yr. can go over..
But man can they be helpful in a realastate deal when ouy of state..I just call when I have to no something financial.
Done biz with the firm sense 86...Call your accountant, a mistake by me could cost ya....
Depending on your Brokerage house, sometimes someone will help you that is qualified..
Posted by cassity on :
Thanks Mr. Marlin!
Posted by Batman on :
Posted by: GreedyFox2 In reply to: None Date:7/12/2006 6:08:08 PM Post #of 5015
For what it's worth, I called a guy named "JIM" * (936) 672-9244 and he mentioned that the Lyamec deal is legitimately in agreemnet and that they will be making an announcement over the next few days to update all shareholders. I'll be holding & adding on the dips.
$$$$$$$$$ THAT'S ALL I NEEDED TO KNOW.
Posted by Purl Gurl on :
Blue writes,
" in rough terms, the market seems to be giving grifco a 10% shot of actually closing the deal...."
Yep. My assessment as well, Blue. Trader perception is one of caution. My opinion is a lot of the volume and spike can be contributed to naive traders buying into the news, which is usually a mistake.
Underlying this appears to be some seasoned traders taking a gamble as you are. The way this traded, it looks seasoned traders quit buying around .24 to .28 per share. Beyond that, giddy amateurs.
We both have watched many deals like this go south in a flash. Odds of this deal being completed are not all that good. You and I have noted and discussed this odd friction between the two companies.
I recall, last year maybe just before summer, Lyamec bought several million shares of Grifco and have since lost about half of their money.
These pr news awhile back were very hostile in nature, to the point of forced replacement of the Grifco management team.
This one is certainly a challenge to read. The social engineering part of this is quite odd, I cannot decide if GFCI and Lyamec hate each other or what. Certainly a hostile relationship.
Currently there is tremendous downward pressure. Looks GFCI may slide down to .16 to .19 within the next five to ten days. I doubt this one will fall below .15 per with so many willing to jump in on decent dips.
News may change behavior, but this news will have to be substantial; firm deal.
I may dabble a bit later this week or next week. Maybe looking at buying somewhere below .20 per.
Again, I agree, there is very little trader confidence this deal will close. We shall find out in time!
Purl Gurl
Posted by Purl Gurl on :
Blue also writes,
"any new traders would probably be best to steer clear of GFCI."
Most certainly. This one is not for amateurs.
As you know, with current circumstances, GFCI could severly crash in one business day. Traders will have a couple of hours, at best, to dump.
With the tremendous downward pressure currently, if more pressure is applied, GFCI will crash.
Purl Gurl
Posted by Blue Marlin' on :
Last--->.020
Posted by therustytrombone on :
this stock is getting hammered... what's the deal?
Posted by Batman on :
Damn ! GFCI is tanking big time. Mabey eveyone is expecting big selling tommorow on Friday, it would be a week with out another PR.
Posted by Purl Gurl on :
This is of no surprise, quite predictable.
You should not be concerned because you saw this coming and took appropriate actions a number of days back to protect your capital.
Previously I write, in part,
"Currently there is tremendous downward pressure. Looks GFCI may slide down to .16 to .19 within the next five to ten days."
Purl Gurl
Posted by Batman on :
Yeah, I don't care. On mon I got in at .21 and got out at .355 for 69% profit....never got back in.
Posted by P Rowds on :
Ok... so, i just talked to IR from Grifco. He told me that there was no way Jim Dial could have said that he turned down Lyamec's offer obviously due to confidentiality reasons........ so i dunno if that was said or not 6. He said that they are still being talked about and Lyamec is not merging I guess they are only assisting. A third party is actually going to be the one merging... He wasn't sure when the next PR would be out. So...... i guess take it for what it's worth. i'm clueless as to what i'm gonna do. gonna go play paper-scissors-rock with myself;)
Posted by Batman on :
This will tank tommorow, before weekend, too. I wouldn't get back in till a PR comes out. It will be one week since the PR, and they left their investors in the dark...NOT COOL!
Posted by blue_in_MI on :
quote:Originally posted by Purl Gurl: This is of no surprise, quite predictable.
yup, i agree. no follow-up PR today equated out to... another dip.
my impression is that there is a fairly big expectation/hope abounding that there will be a PR before market open monday. if there is a PR by then - who knows. if there is no PR by market open monday, then my guess would drift back down to .16 level on mon or tue.
my guess/instinct, which of course could be way off, is that latest PR raised the bottom support level from about a dime to about fifteen cents. so actually the risk/reward curve still looks pretty favorable to me for a small speculation. downside short-term looks to me likely to be on the order of perhaps 4 cents, upside certainly quite a bit more of that.
really i freely admit that grifco is a crapshoot/pure gambling though. jumping in too early means that you're likely to watch a slow decline, but jumping in too late means is possible to miss a runup caused by a followup PR, perhaps after-hours. just a crapshoot and depends on "if you're feeling lucky" and what one personally thinks of the risk/reward curve characteristics.
Posted by T e x on :
*feeling lucky, today?*
Blue, were you munching a hot dog while you posted that?
sounds like Harry, explaining the ballistics of the .44 Mag...
Posted by fourseven on :
With the price per barrel of oil moving up, might this affect the GFCI pps in a positive way?
Posted by 66inxs on :
no it is my belief that pinkies usually do not move in accordance with market trends or indicators. this stock has other problems as described it this thread causing it to tank regardless of the price per barrel of oil. jmho.
i would expect it to keep tanking today. however dyodd and gl trading today.
Posted by Hannibull on :
is gfci a pinksheet stock? the reason I'm asking is because I see a bid and ask now on my ameritrade streamer, and normally pinks always show a 0
Posted by Peaser on :
Are you sure that you typed the symbol in correctly?
Posted by Peaser on :
C'mon sucker. Hit that .21 so we can move!
If it touches .21 today, it may be a slow and steady green day IMO.
Posted by greenman on :
Its been holding pretty good the past couple of days right around .19 - .205.
Posted by therustytrombone on :
good amount of buying today so far... might be set up for a little end of the week run
Posted by therustytrombone on :
.205 x .21 -- up 5.31%
Posted by therustytrombone on :
.21 up 7.69%
.21 x .215
Posted by Peaser on :
Nice.
Posted by Hannibull on :
quote:Originally posted by Peaser: Are you sure that you typed the symbol in correctly?
yep! all pinksheet stocks on my TDA watch list show a bid and ask now, no level IIs though
Posted by Peaser on :
So then, what actually would happen if GFCI accepts a $2.25 per share offer?
Would the outcome be a temporary hault in trading of this stock, then a price adjustment to $2.25?
Or would they just give us $2.25/share in return for our stock?
Any answers or possibilities on a successful buyout?
Please express them if ya got 'em.
Posted by 6digits on :
I would be expecting a halt in trading and a check in the mail, but thats just me.
Posted by 6digits on :
The only thing that could stop a possible buyout is a sudden merger agreement, that would send the pps plummeting to a very low price. I'll be watching for NDOL games during this.
Posted by BooDog on :
hmmmm... good find boodog. wonder if it's legit... i just had to sell yesterday at .19 damn it haha.... oh well, will still be on the sidelines i guess
Posted by Peaser on :
Nice find Boo.
Well, 1.5 hrs to go today.
Currently at HOD.
Posted by P Rowds on :
wow i could kick myself...
Posted by Puddy on :
Not to step on any toes...Boodog I think that pr is from a while ago.
yeah thanks puddy...i hate those automaticly changing the date type web sites! mucks me up!
Posted by Puddy on :
No prob, trying to find any pr I can myself.
Posted by Peaser on :
.24 going.
Posted by Peaser on :
Nice, no Friday sell-off today it appears.
Monday could be good.
Posted by P Rowds on :
damn you peaser:) man do i feel like an ace...
Posted by Peaser on :
lol
Posted by blue_in_MI on :
surprisingly strong day for GFCI, not that i'm complaining. natural bounce after 2 down days? people "feeling lucky" and thinking there would be a PR by monday morning? dunno. am still holding.
hard to guess on next week: i'd imagine a few cent down day if no PR monday, but - who knows, i thought the same about today and a lot of buying particularly in the afternoon. any of you chart/techincal-guys or gals with any guesses on next week?
Posted by T e x on :
Blue, will look at it over the weekend...
Posted by Peaser on :
I am not expecting a PR on Monday, but I will be looking for one by the end of this week to hopefully clarify some possible buy-out options. I wouldn't mind seeing one early in the week though.
Could see .30 IMO on Monday or Tuesday w/out a PR. On bad news? Who knows, maybe back to .12?
With the possibility of a 2.25 per share buy out, I would think that as folks hear about the possibility, they may take a small position in this and hold it for a little bit on a speculation play.
Should be a pretty safe week in this I would think as long as negative news does not come out.
Friday was a nice slow and steady green recovery day, which is somewhat abnormal for stocks on a Friday.
[ July 16, 2006, 21:04: Message edited by: Peaser ]
Posted by Peaser on :
Trying to bounce off .215.
Posted by Peaser on :
Nice little pop to .26 from .23 then back to .245.
Some buyers just came in on the bid at .24.
Posted by Peaser on :
Needs to get through .265 for any chance of breaking out of the pennant and seeing .30+ today IMO.
Posted by Batman on :
What's going on, I thought they said it was in agreement? how come this ain't flying?
Posted by Puddy on :
Grifco International Reaches Agreement With Lyamec on Proposed Offering
By Market Wire Last Update: 7/17/2006 12:00:40 PM Data provided by
HOUSTON, TX, Jul 17, 2006 (MARKET WIRE via COMTEX) -- Grifco International, Inc. ("Grifco" or the "Company") (PINKSHEETS: GFCI) announced today that it has reached an agreement with Lyamec on a $2.25 proposed offering. Filings for either foreign securities registration or U.S securities registration are currently under review.
Further, Grifco announces that it has adopted resolutions to protect assets and to fend itself off as a target opportunity for a hostile takeover, with additional consideration and security in connection with Global Oil Tools Libya. In accordance with adopted resolutions and pursuant to agreements in place, Grifco International is to commence completion of consolidated audited financial statements as well as begin required asset separation agreements with certain subsidiaries as part of the offering. Pursuant to the terms of the asset separation agreement, certain subsidiaries will become "stand-alone" companies. The stand-alone company will operate independently of Grifco.
The Global Oil Tools Libya facility in Misurata is strategically located to provide ready access to critical key distribution points from which Global can deliver tools to regional customers on a just-in-time basis. Global's advantage in North Africa is the ability to provide a localized, fully integrated development, manufacturing and shipping facility over competitors shipping tools from distant distribution centers.
About Grifco International, Inc.
Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the United States, China, Mexico, South America, the Middle East and Africa. Grifco holds and owns design rights and manufacturing facilities for producing more than 6,000 products for the oil and gas industry with more than 150 clients, boasting the biggest names in the business, including Halliburton, Exxon Mobil Corp., and Schlumberger.
The Lyamec Group (www.lyamec.com) was established in 1999, to fulfill the existing and expanding demand for U.S. made products as outlined by President Clinton in 1999. The Lyamec Group provides vital assistance in laying unique and integrated platforms with cross-border assets to further streamlining efficient and effective opportunities and solutions.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
SOURCE: Grifco International, Inc.
Posted by Peaser on :
Get the druel cup! lol
A hostile takeover sounds about right to me.
Posted by Peaser on :
So what does this PR actually say?
Posted by Dustoff 1 on :
bid .245 ask .25
Thats what it says...
Posted by Peaser on :
geez, I guess so.
Posted by cassity on :
Dustoff, this is a PR from Grifco stating they have agreed for the 2.25 a share. Am I missing something?
Posted by Dustoff 1 on :
bid .235 ask .24
Last .23
Cassity, their selling into the news..
Posted by cassity on :
Thats good I'll wait for the bottom and get a little more.
Posted by glassman on :
some people call this a "poison pill"
Further, Grifco announces that it has adopted resolutions to protect assets and to fend itself off as a target opportunity for a hostile takeover, with additional consideration and security in connection with Global Oil Tools Libya. In accordance with adopted resolutions and pursuant to agreements in place, Grifco International is to commence completion of consolidated audited financial statements as well as begin required asset separation agreements with certain subsidiaries as part of the offering. Pursuant to the terms of the asset separation agreement, certain subsidiaries will become "stand-alone" companies. The stand-alone company will operate independently of Grifco. Posted by Peaser on :
Thanks glass.
If it doesn't bounce at .22, it could tank.
Posted by Batman on :
I think it already is.
Posted by Dustoff 1 on :
quote:Originally posted by cassity: Thats good I'll wait for the bottom and get a little more.
------------------------------------------------- Selling into the news....
Does not nessasaraly mean a rebound in this case, Cassity.
Posted by P Rowds on :
didn't get back in... yet?... thinking about it. but after a release saying "agreement on 2.25 a share" shouldn't this be way way up by now?
Posted by cassity on :
I have to wonder if MM's where ready to bring it down and the timing was with the news. I think people where waiting for it to take off and when it started dropping it caused more panick selling. JMO
Posted by 6digits on :
I wonder why if they're in agreement they are bracing against a hostile takeover, sounds contradictory. Bunch of dicks.
Posted by cassity on :
I think they are very protective of the Lybia prodject. I think they want to keep the Lybia prodject, seperate from the rest of Grifco.
Posted by Batman on :
Lisbon - A source from Galp Energia said today that Galp Energia will launch a takeover to Grifco International Inc . Galp Energia, will notifie next friday the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition of Grifco International Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid. Galp Energia will launch a takeover bid for Grifco International Inc with the payment of $3.65 USD for each of the that responded to the tender offer, this initial offer could reach the limit of price of $4.10 USD for each share of the company.
About Galp Energia :
Born in the year 2000, Galp Energia is the holding responsible for the reshaping of the portuguese energy sector, in the oil and natural gas businesses. Our goal is to build a national oil and gas company, compliant with modern international standards, to be a key player in the Portuguese economy, and to grow in the international energy industry, by becoming a relevant competitor in the Iberian market.
Our commitment is to secure the consumers' preference through integrated energy offers and complementary services in the markets where Galp Energia may obtain competitive advantages, adding value to the shareholders, clients and employees.
Galp Energia, SGPS, S.A.
Edifício Galp Energia Rua Tomás da Fonseca 1600-209 Lisboa Portugal
Might be gearing up for a little run. .235 needs to hold.
Bid 2 x .235 2 x .23
Ask 1 x .24 2 x .25
Posted by yayplaya on :
be careful with this one, i had called their pr # about a week ago and asked about the whole 2.25 buy and the guy was acting kinda weird and was sayin something about the buyout being for something else not for the gfci shares. Since then when I've read their pr's it doesnt really say what the buyout is for so .... just beware..
Posted by blue_in_MI on :
what a ridiculous PR today.
"Grifco...reached an agreement with Lyamec on a $2.25 proposed offering. Filings for either foreign securities registration or U.S securities registration are currently under review."
pffffft.
the ole' bait and switch: suddenly the buyout is magically recast as some sort of new filing.
have given GFCI the benefit of the doubt for a long time, but - the PR today clinched it for me - i'm out. i dumped all my GFCI shares today, which was kind of an absurd situation: was working where i had no net access and read the PR on my cellphone, so i had to call my wife at work and talk her through logging into scottrade and dumping it.
really am lucky to have ended up making a mild profit on GFCI in the end thanks to swing-trading, frankly - i deserved to lose money on this one.
who knows - know that i dumped it, it'll probably go straight to $1. but - i can live with that, the PR today was a clear sell signal in my eyes.
Posted by Purl Gurl on :
Snippet from today's news,
"Further, Grifco announces that it has adopted resolutions to protect assets and to fend itself off as a target opportunity for a hostile takeover, with additional consideration and security in connection with Global Oil Tools Libya. In accordance with adopted resolutions and pursuant to agreements in place, Grifco International is to commence completion of consolidated audited financial statements as well as begin required asset separation agreements with certain subsidiaries as part of the offering. Pursuant to the terms of the asset separation agreement, certain subsidiaries will become "stand-alone" companies. The stand-alone company will operate independently of Grifco."
Purl Gurl
Posted by blue_in_MI on :
quote:Originally posted by Purl Gurl: "resolutions to protect assets and to fend itself off as a target opportunity for a hostile takeover, with additional consideration and security in connection with Global Oil Tools Libya."
in other words - the $28M additional number Lyamec bandied about in the previous PR was a poison pill, that no one will ever pay.
so the question is: can the previous PR from lyamec be considered fraud? probably not, they'll probably get away with it, blaming the language barrier and the vagueness of the wording.
the most shocking thing to me today is that GFCI actually went UP for awhile after today's PR. i'm completely befuddled as to how anyone could think it should go UP after reading that PR, must be truly a serious lack of reading comprehension imho.
eh who knows - if past history is any indicator; GFCI will shortly hit $3. i *always* sell too early.
Posted by Purl Gurl on :
"must be truly a serious lack of reading comprehension"
You are such a gentleman. I would simply write, "They are idiots."
"Something ain't right." When I write this expression for readers, be sure this is true.
Very clear this is a shady bait and switch operation at play.
Previously, wording "suggests" a takeover of Grifco by Lyamec. Now, well, rather obvious a subsidiary is the target.
Lyamec partially funded this subsidiary "deal" last summer through their several million share purchase of Grifco stock, then promptly lost half of the share value equity, as noted in a previous article of mine.
Also noted by Blue and me, a number of times, a hostile relationship is involved.
Appears Lyamec is trying to recover some its losses on last Summer's deal.
Bottom line is this "buy out" involves only a single subsidiary not worth the initial published per share price.
You are right, Blue; another NDOL bait and switch.
Purl Gurl
Posted by glassman on :
i bailed when i read that third party investors were paying ********* to promote them...
Posted by Purl Gurl on :
Smart boy, that Blue, working as a team with his wife to protect their family.
For the fourth or fifth time, I want you, Blue, to be my second husband! If not, could I adopt you?
I do not think anyone would object to my having two husbands. Not all that uncommon under some tribal traditions.
Purl Gurl
Posted by Purl Gurl on :
"were paying ********* to promote them..."
Oh yes, that ********* is a bad news outfit!
Hmm, thinking I should take Glassyboy as my third husband. With the three of those boys around, Billyray, Blue and Glassy, might actually get some yardwork done around here.
Purl Gurl
Posted by Disastrous on :
It sure seems like there's alot of people trying to pump up this stock, I'm not sure what to make of it.
On the one hand, gfci has been around for a while and people in the industry have heard of their products and name.
On the other hand, the press releases are so ambiguous that you cant really understand what they really mean. Either the person making them is incompetent or something else is going on.
I do know that both sharpeyed[daught]com and *********[daught]com have both initiated coverage and that ********* actually received 200,000 shares in order to do it. It also seems that there are other random sites trying to promote gfci as well ....capitalandcrisis[daught]com and the telecentro link telecentro.pt/forum/ler_questao.asp?qt=228&varid=2 which the telecentro link is clearly a fake by someone who posts other buyout links.
What does everyone else make of this?
Posted by T e x on :
you and your nick are blown?
Posted by Disastrous on :
Huh?
Posted by Peaser on :
I am still holding a small position, but got rid of most of my holdings in this yesterday.
Might get rid of the rest today.
The PR's are nothing short of confuzing.
Hiding behind legal jargon.
Posted by yayplaya on :
just as i figured...i knew the pr guy was actin shady. sayin something about lyamec buying a part of gfci not gfci itself...just not in so many words...
Posted by Peaser on :
Haven't sold my last position yet.
Might just bounce here.
Needs to hold above .185 or it could come down to .15 today IMO.
Posted by Peaser on :
Just sold my last 6000 at .185.
Now it can run. lol, hope not.
Posted by Purl Gurl on :
Readers are encouraged to compare GFCI and NDOL stock for pump tactics.
Both companies used the same tactic of a classic bait and switch to defraud the public. I agree with Blue these may not be unlawful tactics but those tactics are fraud, nonetheless.
NDOL claimed a buy out offer at 2.17 per. GFCI claimed a buy out offer at 2.25 per.
In both cases, later, the companies disclose only a subsidiary is involved, no buy out, then the share price crashes.
A difference is NDOL hired a lot of pump and dump people to work their stock, including several pump and dump people with felony conviction records for just such. NDOL was able to drive share price up to 1.50 per before a crash.
GFCI and Lyamec is clearly a less clear picture. None of us can figure out exactly what is going on between the two companies; hostile or friendly. I cannot determine if GFCI is pumping or if this Lyamec is pumping, or both.
All of this supports my suggestion to readers, when dealing with high risk stocks, move in and out of that stock very quickly and repeatedly to protect your capital; do not hold more than a day.
Purl Gurl
Posted by Peaser on :
Thanks PG. I was fortunate enough that this got back above my original .245 buy in price the other day, so I could get most of my position sold.
Great DD as always. I never followed NDOL to closely, never played it either.
You are Queen.
Posted by glassman on :
my take?
somebody was heavily invested in GFCI and finally realised they weren't going to get the outcome they expected....
the third party that hired stockbozo the pumper must have been pretty desparate to pay for all those PRs...
i've always just blasted right past the paid promos...they waste my time, but when somebody pointed out to me that a third party paid.....
Posted by Peaser on :
I appreciate that glass. Thanks for bringing that up the other day.
Too many of them paid 3rd party jobbers are hazerdous to our trading accounts.
Shoot, sometimes one is too many.
Posted by Dustoff 1 on :
mark: bid .16 ask .165 last .16
Posted by Peaser on :
LOL, I still have 3 shares in my account.
They wouldn't fill the last 3 shares in my sell order at .185.
'dem bums!
Posted by blue_in_MI on :
quote:Originally posted by Purl Gurl: Readers are encouraged to compare GFCI and NDOL
this thought has crossed my mind too, also i guess one could toss in IDWD i think it was.
maybe my perspective is colored and/or i'm flat out wrong, but - to me NDOL seemed like a scam from the start, whereas GFCI was more complex and promising. quite a few well-respected posters, posters i respect a great deal, also found great interest in GFCI and invested at least a small amount in it. posters who i have a moderate degree of trust in personally visited grifco and CTT and came back with positive reports.
i personally don't believe these companies are complete fabrications set up simply as a sham, i believe they sell real tools. there were plenty of screwups along the way, but - maybe naively - i always held out hope for GFCI up until that PR yesterday. but somewhere along the lines, the wheels just completely spun off.
i'm frankly still pissed at lyamec and grifco at that ridiculous stinking pile of sh!t they dumped on the table yesterday. really makes you wonder - just what the hell happened here. at one point i truly think there was an honest business here, and i still believe swinford is a skilled engineer with some promising inventions.
so - what the hell happened along the way? who's the "bad guy"?
if i had to guess, and i admit that this is purely a guess: dial and swinford are perhaps only guilty of a mixture of incompetence at management and inexperience at running a public company. lyamec, i used to hold out hope that lyamec would be able to right the ship. after the last 2 PR's though, one can't help but come away with a very negative view of them. they seemed to be behind these last 2 PR's, and - i don't see anyway around that they were a pure bait-and-switch load of sh!t.
eh, i dunno - just a mess at this point. just not enough information from these ridiculously dense PR's to truly make an informed opinion.
![[Smile]](smile.gif)
I was tempted to bail today, decided to see where it goes tomorrow. ![[Big Grin]](biggrin.gif)
![[Wink]](wink.gif)