To: Riley G who wrote (45004 ) 4/5/1998 10:06:00 PM From: Pugs Respond to of 55532
Riley, What d'ya make of this? >>>>>> $5 and Under: GIFS | Previous | Next | Respond | To: Steve Brandt (3862 ) From: Jeff Morrison Monday, Apr 14 1997 11:00AM ET Reply # of 7552 Interesting e-mail as of today AM As noted, I have purchased a small bloc of shares in GIFS (3,000) and our sister unit, IRI, Inc., holds a larger but currently indeterminate shares in GIFS (144 restricted) and receives income from administering a Membership program in the non-profit Investors Research Institute to which GIFS has subscribed, but that said ... we would be remiss if we failed to indicate that factors creating the potential for GIFS going into play are rapidly intersecting and the bid-ask has moved upwards today very quickly to 1.5312 x 1.5937. There are two mms at the 1.5312 and only one at the 1.5937 ... this shifted within minutes this morning from FOUR at 1.5625 ... so things seem to be popping, with 19,000 vol. already. Where could it go? Because of the relationships above, we're not about to speculate ... but we'd be remiss if we missed passing on a potential good 'un. What we are hearing is that the shorts MAY, just MAY not be able to cover, having fallen into disarray after their recent exposure ... and we hear that one of the brokerages which was caught with its pants down in this fiasco may be looking for 40k today to eliminate its exposure. Other stuff on the horizon appears to be a nearing report on the assets analysis by the BDO unit ... for the CRIC sale. By the time this gets out, the bid-ask could have already begun to climb ... if there are no shorters left, that will become evident fairly quickly, if we read Art Adams TA report correctly. The short position has been estimated by some to be as much as 50% of the float.<<<<<<<<<< >>>>>> In the second half of 1997, the Company purchased 7,345 shares of Societe Financiere Privee ("SFP"), a Swiss bank for US$4,148,293. SFP offers complete banking and portfolio management services and is publicly traded on the Swiss Stock Exchange. The Company's ownership of SFP is equal to about 3% of SFP's outstanding shares. The Company is currently in discussion with SFP to co-develop and offer certain services in the United States.<<<<<<______________________________ "In the second half of 1997, DVBC purchased 7,345 shares of SFP " _______________________________________________________________ <<<<<< FOR IMMEDIATE RELEASE- THURSDAY APRIL 17, 1997 Chattanooga, TN GIFS SAYS CRIC SALE CLOSING ON TRACK: $117 MILLION SALE CLOSING SET FOR MONDAY, APRIL 28 (GIFS-OTC-BB) announced today that the extensive due diligence process in place for the sale of the CRIC unit is proceeding on track with the time line as scheduled for closing on April 28, 1997. GIFS has previously announced the sale of its CRIC unit in a $117 million transaction with Suisse Private Banking Group, Ltd., and InterFinance Private Banking Group Ltd.<<<<<<< I have no idea yet if "Suisse Private Banking Group, Ltd." is "Societe' Financiere Privee'", I do know it is a possible translation, 'societe' can be translated as 'company' or 'limited partnership'....if it 'is' the same company, it means that for some reason, they chose to use french in DVBC's' 10ksb rather than the English in the GIFS release.....it also would mean they're many coorelations between GIFS and RMIL, not the companies themselves, but the shortsellers. RMIL's TA is Florida Atlantic, so was GIF's..... More to come... Pugs