Seems to me it's (inside info) SOP for OLPV/OVIS/RMIL (ever wonder why the name changes so often ?) Earlier this year shareholders were anxiously awaiting the financials that had been overdue for months. What they got was a total surprise, instead of the financials, they got a reverse split.
Trading acitivity (read that shorting) picked up considerably in the month prior to the unannounced reverse split. On Jan 22 the price was shown at the reversed price and the shareholders on the thread were at a loss as to what had happened.
A car phone call from Morgan to the "cartel" leader of the moment revealed a split had indeed occured but "wasn't supposed to happen" just then.
When the "cartel" leader of the moment had drinks with Morgan several weeks later. His explanation was that Morgan said "someone had dropped the ball" on that. .....That's it.... "someone had dropped the ball" Morgan was the quarterback, he had the ball. Who the heck is that "someone" ?
The increased activity in trading prior to the split would suggest "someone" had advance knowledge and was shorting the stock.. IMO Draw your own conclusions it's on the OLPV thread.
Weekly trading activity----Ticker: OLPV
Date Volume High/Ask Low/Bid Close
-------- ---------- ---------- ---------- ----------
11/22/96 2,460,600 0.29 0 1/8 0 1/8
11/29/96 616,500 0.14 0.12 0 1/8
12/06/96 310,400 0.14 0.12 0.14
12/13/96 2,375,200 0.14 0.08 0.10
12/20/96 3,960,700 0 1/8 0 0 1/8
12/27/96 2,840,400 0 1/8 0.07 0.08
01/03/97 1,097,600 0 1/16 0.02 0 1/16
01/10/97 4,308,500 0.09 0.05 0 1/16
01/17/97 10,171,200 0 3/16 0 1/16 0 1/16 <-----week prior to the split
To: +Ali Asad
From: +Dean Moshova Wednesday, Jan 22 1997 2:15PM EST
Reply #225 of 471
Just spoke to Morgan, He called from his car he's on route to the office to sign off on a press relase. I can't comment on our conversation until the release comes out. What I can say is that this was not suppossed to happen today |
