posted
audited financials may or may not show a profit ( retained earnings ) there are exspences witch were not listed in the release. no clear indication made in the release that an audit of autorama is underway. company balance sheet is not yet complete. read closely and you will see greyfield capitol appears to have been purchased as a an empty shell for 120 thousand dollars. research will show the price of a " clean " shell can run from 250 to 450 thousand dollars. before greyfield became involved with autorama they had no buisness activity. this notice also states they may take this company private at any time. none of this looks good.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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Anyway picture this: Pick a used car lot in your town..there are many..you know the ones..buy here and pay here..a lot with say 25-30 cars in the 6-10k range...now walk up to Joe the owner and say "Look I think you really have a good chance of being the best premium car dealer in the country...here's 12,000 dollars to help get you started"......
There is no pretty picture here guys and that is what Madmoney and I have been trying to say for 2 weeks now. I hope you guys get some of your money back....I will not post here again for being thought of as a basher. Which I am not. I just tried to point out the facts. GLTA
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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To me, this is a "not too bad" news. I mean, it may not be good, but it's not bad either. Yesterday, I thought my money was lost, gone forever. Now, just the fact that they're releasing this ease my spirit a little...just a little. This prove they didn't just ran away with our money. It doesn't prove it's not a scam, but nothing says it is.
I'm in Montréal, so I don't know about BC market, but here, used cars dealers are growing fast in the last 3 years.
I now think of this money as lost... But "the game isn't over 'til it's over" - Yogi Berra
-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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1. this is more info then i have ever seen from any penny....
2. there inventory is 2 pages 500k in cars.... Most american lots would have a loan covering this... i did not see a loan... but i skimed it.
3. they produced there checking account which shows cash flow of 20-30k per month.... so they are a real business....
mjet, was a shell corp that traded around 70cents so gryf is a real company making money... so they deserve to be a penny stock.... these documents prove there more of a legite business then most penny stocks....
Posts: 1070 | From: louisville,ky,usa | Registered: Oct 2004
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posted
these documents prove that investors were mislead by thier PR`s had you seen the contents of thier inventory before you invested you would have laughed your azz off and put your money somewhere else. this is not what MOST investor thought the were buying into. a used car lot with a bunch of older over priced cars. alot of wire transfers on those bank statements, procedes from stock sales? average closing balance around three grand. do you honestly find this information impressive? this is an attempt by the company to cover thier butts for the SEC. to little to late.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
They always said they sold used cars and how do you figure those are overpriced?? If you comparing to US prices then your crazy those are Canadian prices do the exchange rate and you'll see it matches with what the cars sell for here in the US that's what I did. The bank statement is only one account how do you know they don't have more. They also own 4 million dollars in stock on another copmpany which might not be real but currently valued at 4 mil regardless. This is a small company with some problems they sell used cars and from what I understand they make more on used than they do on new. They have had great growth and if they pull through the investigation and continue growing it will not be so bad. Imagine owning 30 used car lots selling 80k a month it's not that bad. Also having 3k in your account is more than most companies can say they have NO DEBT. So that is a very good thing it's better than have 50mil in debt and 250k in your account.
-------------------- If your reading this then obviously you have time to do research before you buy or sell a stock Posts: 143 | Registered: Jun 2005
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posted
i dont recall the company ever stating they sold used cars, they never said what type of cars they sold, did not list it on the web site, said they were a premuim dealership. and quickly becomming the fastest growing dealership in central canada. i may be wrong. just find the pr and post it. nearly 50% of thier inventory is 10 years old or older. premium dealership? and the value of cars is based on milage and condition, and no matter what you say a 1992 honda prelude is not worth 11 grand! even if these cars all have below average miles and are in pristine condition many , many of them are still overpriced! thier own PR`s indicate they sell MAYBE a dozen in a great month and as few as 3 or 4 on average. looking at what they have to offer i am not surprized. two dealerships, 63 cars half at least 10 years old. thier lofty and misleading pr`s have put them in a hole they will find it hard to climb out of.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
Durple - you are making it hard for me to stay out of this like I said I would...It is a "Joe Blow" used car lot, with 6 employees - 1 manager, 2 sales people, a mechanic and prep guy or 2....nothing more..not a premuim car dealer that they lead people to think. Go back and read the PR's..and by the way this was a "FULL DISCLOSURE"... so it is the only bank account...and it should be all the fact that they have to present. Now go asked the used car dealer on your corner how many cars they sell in a month....make a comparision...it is simple math...everyone is so bent on making this something that it is not... so what, almost all used car lots make money...that is why there are so many...but they do not as sell stocks. Get real everyone...
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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1. this is more info then i have ever seen from any penny....<<<<BECAUSE THEY HAD TO DO IT FOR THE SEC INVESTIGATION>>>>
2. there inventory is 2 pages 500k in cars.... Most american lots would have a loan covering this... i did not see a loan... but i skimed it.<<<<MOST USED CAR LOTS PAY CASH WHEN THEY BUY SOMEONES CAR THAT IS 10 YEARS OLD>>>>>
3. they produced there checking account which shows cash flow of 20-30k per month.... so they are a real business....<<<CASHFLOW, yes, real business, yes...but a CARMAX of Canada...NO...it only takes 2 car sells a month to have 20k in cash flow...>>>>
mjet, was a shell corp that traded around 70cents so gryf is a real company making money... so they deserve to be a penny stock.... these documents prove there more of a legite business then most penny stocks....
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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posted
I can not stay away...I read what some of you say and I just shake my head...take the 5 or 10k you put in this and go buy a used car...it is a better investment...
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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posted
how many times when a company puts out a pr they say, company x a leader in so in so, or company x a premier leader in so in so, how many of you have called the company or before buying called the company. I did, and i know just because they tell you something it doesnt mean dd. My first question was what kind of cars do you sell. the guy told me used cars, all kinds. They will have 3 dealerships and are currently looking for more. How many pinksheet stocks, no matter was business or employee count makes a profit and has no debt??? post them so i can take a look at them. When i called the other day they said the kmpg audit was still underway and middle of august was the target date with a otcbb goal in mind. It also baffles me as to why someone who doesnt own this stock continues to post how stupid and foolish we were for buying this, but its your right go post as you please. Just the bad pr of the sec coming in, even if nothing is found is going to sting the pps right off the bat. Im telling everyone to call the company if you need clarifications on anything, i called them and got a lot of questions i had answered.
Posts: 15 | Registered: Jul 2005
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posted
maybe i can make myself a little more clearer...
take 100 of our subpennies... i will just throw out 3 or 4 for example.... cnes, qbid, idvl, msep, hows that... now cnes, has never made a sale, and never made a dollar..they just print us stock each day...
idvl, its 10k says it has never made a sale,
msep, sells model cars over the internet....
oh and lest we forget qbid, they actually have a tv network but they just print up shares every day.
so now lets examine gryf beside alongside there peirs... It sells used cars, they have a bank account that they will show us, they actually make a little profit..... they are not printing up shares... the sec has scared them....
perhaps we could see, qbids check book, or cnes, or idvl.... so its a sub penny...
tell me george what do you exspect from a sub penny....
Posts: 1070 | From: louisville,ky,usa | Registered: Oct 2004
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posted
all we can do at this point is give them a chance.. its stupid to argue at this point, the truth will come out either way. im hoping for the best, i only have 2 grand in this company, but when trading halted, my stock was only worth 1 grand. Nontheless, id still like to recoop some of my losses so I have faith that gryf will pull out. GLTA
Posts: 193 | Registered: Apr 2005
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posted
companys recent diclosure states 20 billion authorized,in my first call to the transfer agent before they were gagged by the company i was told the authorized shares were 750 million, they have increased the authorized by more than 2300%!, no wonder they gagged the T/A!. with an increase like that it seems likely they will issue shares as fast as they can!. how do exspect to make money on this company? do you think they will issue cash dividends? they are a pink sheet! the only divies you will ever see would be in the form of stock in another worthless company! and they wiil not go to another exchange period!, reason: thier stock price will never support the nesesary level without an R/S and even then they would not be able to maintain a price/valuation level long enough to remain listed for any legnth of time.plus moving to another exchange takes months, 6 to 12 minimum. filing requirement alone make this scenario unlikely at best! even if they manage to do that they wiil R/S the stock first and only after they have issued most of the authorized shares!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
Is bashing allowed here? I don't think anyone should take your statements seriously madmoney. You're an obvious basher. Now how do we get rid of you?
Posts: 1468 | Registered: Jul 2005
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posted
I dont think madmoney is a basher he has given some good advice on this stock and other stocks befour and ive been looking into the numbers and what madmoney is saying and alot of what he is saying is making sense
Posts: 1011 | From: ct | Registered: Mar 2005
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posted
Look, the same news can be seens very differently by 2 people. Both can have good explanation and arguments. It's not because one is less optimistic than the other that it is considered bashing, IMO. I can see good reasonning on both side... like I said before, to me, that money is lost because when comes Aug. 9th, even if SEC says most of what is says is true, the PPS will drop. I won't take a lost by 90% or something... I'll let my shares sleep awhile and maybe, maybe the PPS will go up again in the future.
-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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posted
during the first 3 months of greyfields operation the stock dropped over 99%.this stock "ran" on a group play. it was set up by a group, the stock was hyped for a while during the accumulation by the group, before the run i posted factual DD about the company because pumpers were not!. then it ran, i did not post during the run, i figured let it go because its pointless to post anything negative during a run like that,even the trueth! because no one will listen. after the run i posted more facts ( all bad ) tried to inject less opinion and more trueth so investors who bought in high would at least have the chance to get most of thier money out before the BS caught up to the company, and some did. now the company is under investigation by the SEC!. all of the pumpers here at the beginning have sold and moved on leaving in thier wake a small group of core supporters who are now desperate to beleive the earlier hype and so continue to pump this in the hopes of getting new people in this so they can get out!. new investors need to understand what they are buying here, and that is a small used car dealership in southwestern canada with two locations and a third proposed, one in a town of 80,000 and one in a town of under 8000 with a third proposed in a town of under 10,000. they currently have 63 used cars in stock nearly 50% of witch are over ten years old. they appear to be making a small intermitent profit, good for autorama, autorama appears to be owned by greyfield, under the terms of this deal autorama may terminate this aggreement at any time and take the company private. at some point greyfield will issue a complete balance sheet, it is at that piont you will learn if they are in fact profitable, you will be looking for retained earnings and share holder equity. it is my GUESS you will see a deficit (net loss)as thier will be exspences to greyfield and autorama witch were not listed in the disclosure( dont hold your breath waiting for the balance sheet). they are allegedly in negotiations to buy or partner with a mitsubishi dealership in an as yet undisclosed location, they have also announced an agreement with another pink sheet company to sell franchises for them, this company appears to be an empty shell witch has not traded a single share of stock in months. it has been stated here that this 200 million share deal is worth 4 million to the company, this companies stock price went from 0002 to 02 in a day. how does that happen in penny land? reverse split! thats how. and NO stock traded before or after the price change, what do you think it will be worth IF it starts trading again, my guess would be somewhat less than 02!. due diligence is not hard to do. pumpers do not do DD, they call the company or investor relations to find out about the company and always post what they are told. why? simple, becuase those two sources have a vested interest in making the company look as attractive as possible to investors, just like the pumpers they want the stock price to rise so they can make money. investors have been misled by investor relations, (PR`s) by the company, (web site) and by pumpers who do no DD and just want to make a buck. i have posted facts and reasonable speculation and observations and that makes me a basher. there are some companies out there who sell cars and offer stock, those companies, car max, auto nation ect. started out small but they did not offer stock untill they were huge, only after posting 10`s or 100`s of millions in sustained profits and had proven thier buisness model did they take thier companies public. they sell cars and offer stock. this company sells stock and offers cars.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
madmoney may not usually be a basher, but he is doing a good job bashing this stock. I suggest we all ignore him, do your own DD, and make your own decisions. Pumpers and bashers do not have your best interests at heart, most of them have hidden agendas. Make your own mistakes and your own fortunes.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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ignoring the facts got alot of investors in trouble on this one. pumpers have more of an agenda on this than i do. this time around i want investors to know they are taking a HUGE risk and why, before the pumpers create another unrealistic fantasy about this stock going up, up , up!. 3 cents 5 cents even a dime! that was the hype last time. the FACTS PROVED these targets were absurd but the pumpers controlled the board! they offered no DD just hype and ended up convincing alot of good people to buy in to thier nonsense. the trueth will not help current holders of this stock and i am sorry about that, but it will help new people looking at this to make an informed decision based on facts, not hype or wishful thinking.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
hey madmoney, for a well informed stock guru, you can not spell worth a damn. instead of worrying about us with a stock you do not own, go read a dictonary. cheers.
Posts: 15 | Registered: Jul 2005
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posted
You want no risk? Stay away from stocks !! Especially pennies.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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I think if you do not own a stock you should not give any advice unless you are a broker. This is all peoples opinions and if you do not own the stock in the thread then your opinion means nothing and you should talk on the threads that you own the stock or very possibly going to get in on it. I'm not saying people are bashing this stock but when you repeat everyday the same thing it gets old I never see the same post when it goes up. All I see is certain people it won't hold it's a group run balh blah blahsd. No one cares, state your opinion then leave it be, it doesn't have to be pounded into peoples heads.
-------------------- If your reading this then obviously you have time to do research before you buy or sell a stock Posts: 143 | Registered: Jun 2005
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Amen Dirple!!!! Madmoney has spent enough time doing write-ups bashing this stock to start his own company. LOL Im not trying to start a poll, but how many penny stocks can anyone name that is actully making a profit and showing rapid growth? I re-invested small in gryf at .0018 with previous profits. I dont expect to hold long before making another gain. Thnkx four yore patienxz
-------------------- Buy when blood runs in the streets Posts: 1370 | From: lucedale ms usa | Registered: Dec 2004
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I am confident that Aug. 9 will be a good day. The restriction should be lifted and we can go on our merry way to profits. Hang in there.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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posted
so how many of you will sell for the loss once the traiding starts up? or will you, like some mentioned, hold it and hope some day it will bounce back up
Posts: 271 | From: Napa, CA | Registered: Jul 2005
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