posted
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.
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posted
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
-------------------- NDOL(well before the crash)FPPL BLDV CSHD WWEN?
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posted
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?
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posted
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
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.
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.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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