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Message: GFP Message of hope?

GFP Message of hope?

posted on Jun 09, 2009 05:24AM

There is light ahead. Looks like some of the conditions to survive are nearly completed. However, there are a few very large one left. In particular, the dilution with shares for debt (at .005) and a PP for $850,000.

In GFP words: "If the proposed shares-for-debt and the private placement transactions are concluded, the corporation would be expected to issue approximately 320 million common shares. The corporation would then implement a consolidation of its common shares on a 1:50 basis following then approval of the shareholders."

It's a surprise to me to see trades at .015 and .02. Current shareholders would hold about 6% of the revived company. The shares would have to be worth .75 to 1.00 after the 50 to 1 RS. Imo, not worth that much.

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