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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: s martin who wrote (17280)11/19/1997 12:45:00 PM
From: Rich_1  Read Replies (2) of 55532
 
To: Rich_1 (17244 )
From: Steve Hursey Wednesday, Nov 12 1997 4:37PM EST
Reply #17254 of 19929

I called RMIL. I know that I will be attacked by various parties for taking the answers on faith. I, however, was very pleased with the openness and candor of the discussion and the willingness to discuss all issues. I came away from the conversation feeling happy with my significant stake in this company.

Here is what I found out!!!

1. What is the status of the merger agreement?

They have sent contracts for signing which will give them $5 million in cash as an investment in the company and another $5 million loan at 7.25% interest repayable over 5 years. They plan to devote half to developing the water business and the other half to the clothing operation. Their lawyers have advised them not to do any press releases until such time as all of the contracts are signed and received due to concerns about the action of Mork. Assuming all goes as planned, a release should be forthcoming late this week or sometime next week.

2. When will the financials be released?

Gary is meeting with the accountants next week to finalize this for release sometime following the merger announcement.

3. What is the status of their battle against the short sellers?

Gary spent a full day last week (I think) with representatives of the SEC. They (the SEC) are not happy with the shenanigans of Mork. As for the NASD, Gary has talked with them about the issues. He forwards all of the letters and e-mails that he receives from shareholders (about 40 so far) about attacks by Mork and slow delivery of certs to the regulatory agencies. He would like to continue reveiving them. Beyond that, individual shareholders need to work with their brokers to get their certificates. They still have a pending lawsuit against Mork for defamation. They plan to fight his suit against them to the fullest.

4. What are the actual number of shares remaining in the float?

They have asked DTC for an accounting and they say they will deliver this to him next week. They say, however, tha they are restricted in what he can say about the information he receives from them.

5. What is the status of the AMEX listing?

They are confident that this will go through once they have their financing. They estimate that this will take anywhere from 45 days to 4 months to happen once they apply. There would be a full accounting for shares once that happens.

6. What is the status of the Palco deal?

There was a conversation today with Palco to try to reach a deal that is beneficial to both parties. This is ongoing.

7. What is the status of the mill operations?

Their offshore mills are producing clothing for existing contracts. The Hialeah mill is currently being operated by someone who is paying the company $6,000 per month to use RMIL's equipment. RMIL retains first priority on the equipment if they need it. This facility has been retained in case they need to use it for contracts that require the ability to have a "Made in the USA" label placed on it. The long range goal is to have most manufacturing done offshore at a single facility for the fitness business.

8. What about the value of the assets of RMIL in the merger announcements?

As stated in the merger announcements, the $14 million in stock that is in question would be exchanged for 6 million RMIL shares if it comes through. If it doesn't, no shares would be issued. The reaction on this was that it would be nice if it does come through but it is not really a big deal to the company.

9. Why don't they answer their E-mail?

They get 40-60 per day, many of them asking the same questions. They try to respond but have a hard time with the issues that they have going. They would actually prefer and welcome calls from shareholders and potential investors.

GO RMIL, CALL FOR YOUR CERTS, IT IS YOUR COMPANY!
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