posted
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:
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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!
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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:
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"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."
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maybe risky, but - i'm going to hold.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
*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.
Posts: 1698 | Registered: Mar 2004
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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.
Posts: 1698 | Registered: Mar 2004
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"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.
Posts: 1698 | Registered: Mar 2004
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<frank>
unregistered
posted
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.
posted
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.
Posts: 1698 | Registered: Mar 2004
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<Disastrous>
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posted
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.
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<Disastrous>
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posted
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.
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posted
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.
Posts: 9 | Registered: Jan 2006
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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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 44 | Registered: Feb 2005
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posted
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.
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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.
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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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 1698 | Registered: Mar 2004
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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?
Posts: 1698 | Registered: Mar 2004
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posted
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.
Posts: 9 | Registered: Jan 2006
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posted
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.
Posts: 9 | Registered: Jan 2006
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posted
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.
Posts: 1698 | Registered: Mar 2004
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posted
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
Posts: 1698 | Registered: Mar 2004
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posted
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.
posted
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.
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