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Microcap & Penny Stocks : Olympus Ventures (OVIS) - formerly (OLPV)
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To: Riley G who wrote (1338)8/23/1997 4:51:00 PM
From: michael d kugler   of 13196
 
TO ALL POSTERS..................

Have any of you read the financials? This company is barely alive.

There have been estimates regarding the number of short shares and outstanding shares. I trust the outstanding number published in the financials. If they're wrong, it's fraud.

In light of the hype surrounding justification for a $20 stock price, I am appalled at how those numbers are remotely justified. There are no profits, and the company only hints at future profits. They say they need considerably more money. Their only asset is their plant and equipment, which could also be worth next to nothing in liquidation.

I can understand all of you wanting to squeeze the evil shorts big time. So do I. But trying to do it with a company like this is suicide.

Let's say the price does move up considerably. Who will buy it from all you posters who have been encouraged to buy at any price. There still has to be a fundamental reason to support valuations. And when all you discover all is not well, you'll all sell at the same time and get killed.

I admire the premise of this effort. It's a long time in coming. But I fear Mr. Riley is selling his stock to you all the way up. It would be different if this was a vibrant company with an established record of profits....or even hope. When was the last time you saw a good company mention "going concern" warnings?

The only way to profit from this, as I see it, is to be incredibly nimble when you want to sell. If your certificates are in the mail, you can't deliver. Keep them at your broker, but remove them from your margin accounts. This will accomplish the same thing, with less risk to you. Shares in cash accounts cannot be borrowed for shorting.

In short.....be very, very careful. I have seen more creative scams, but this one smells to high heaven.
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