1) There has been a lot of share dilution, which has put downward pressure on the share price and isn't nessesarily a reflection of decreased appeitite

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There is one more thing that has been keeping a lid on any price increase if not driving it down.

GFP originally got some financing by selling over 8 million shares to Iroquois Capital of New York for 22 cents. (http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1106163)

 

These guys screwed up some other investments, especially Scot Cohen, big time and are trying to dump their GFP shares to raise capital for some big shale oil play where they are accumulating lots of farm land before the prices get too out of control, like the Bakken area.  Because of the screw up, they have promised those investors that they will get a major portion of this new investment for free, thus the need for the cash.

They sold over half of their shares last year, but that still leaves over 4 million left to dump.  I don't think that they would sell for less than break even of 22 cents so that just gives all of us a continued opportunity to buy these shares cheap.  However it does explain why GFP management will not issue any more shares and must raise capital either by selling off properties with few opportunities for future drilling or by borrowing more from their line of credit.