I am one of the lurkers, I guess. I thought I would take the opportunity to post the following from Street Level:
Genesis International Financial Services (GIFS), 1.5937, will be announcing that the BDO unit auditing its assets for the CRIC sale valued at $117m has verified the key asset, a $100m Mexican CD, at $99.25m, the net after $714k in liabilities. In a big day when the 'shorts' returned for a 'last hurrah', GIFS also pulled its transfer duties in-house to further protect against possible exchange of a published list of invalid shares involved in the 'shorting', and said the international group purchasing CRIC has reconfirmed its commitment to the April 28 closing. And the CEO stated that last-ditch attempts to undermine shareholder value with personally-directed rumors of a period of incarceration in his youth won't work because this had
been routinely disclosed already to all parties to the transactions in
progress, including the auditors, and that he had long ago accepted
responsibility for his 'youthful indiscretions' and 'paid his debt'. He
notes citizenship awards since that 'black period' in his life, and says his experiences inspired some of his current business activities, including the bonding programs to assist Minority businesspeople.
Looks real, smells good.
As for the bit about the transfer agent, I believe that GIFS management finally decided that this was the only way they could get control of the shares. They will no doubt find a new agent in short order, with some sort of contract provisions about lending the shares.
Mike |
