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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Dec 5 4:00 PM EST
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To: Stephen Kahn who wrote (7253)9/25/1997 10:19:00 AM
From: Charles A. King   of 13091
 
Stephen, I don't follow the OVIS story but I consider it to be one of many contrasts to the GRNO situation.

I just checked the SI thread and I see that there were 9,191 posts by 9:54 this morning. Post number 500 was at 1:45 PM on August 20. I calculate that since then that thread has maintained an average of 9.36 hours for every 100 posts including weekends, holidays, and the wee hours. That to me is a lot of frenetic activity.

As I understand it, there is supposed to be a large naked short position on this little stock and the thread is made of up people who are working a short squeeze.

Now, I have no idea whether there really is a short squeeze or whether it is a scam. I see the management of OVIS is involved.

The question I would ask the SEC and/or the NASD is, why is this situation allowed? If there is no large naked short, this is blatant stock manipulation. And if there is a large naked short position, why is that allowed? Why should market makers be allowed to flood the market with unauthorized stock until all investors are driven out of the stock and the shorters can cover for pennies on the dollar or the company is driven out of business?

By the same token, why does the SEC announce an "investigation" of GRNO and then turn its back and ignore the situation without actually investigating it? What is the purpose of trying to drive GRNO out of existance?

This entire investigation should have been done and completed within 3 or 4 weeks. It has been 6 months and nothing has been accomplished by the SEC.

Charles
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