Hey! Guess what I just found.......
A letter from Dempsey Mork to the NASD to further their investigation of OVIS/RMIL.
November 18, 1997
VIA FAX 303-620-9450 & OVERNIGHT MAIL
Ms. Martha Wiseman
NASD
370 17th Street, Suite 2900
Denver, Colorado 80202-5629
Re: Complaint against Michael Puhr
Enclosures: October 8th press release
October 9th excerpt from 8-K
October 21st press release
Newspaper article
Dear Ms. Wiseman:
This is a complaint against Michael Puhr, who is a NASD broker
registered with World Marketing Alliance. Mr. Puhr works out of
Littleton Colorado and World Marketing Alliance home office is in
Tamarac, Georgia.
The basis of this complaint is that Michael Puhr is running a stock
scam. Mr. Puhr is the CEO and Chairman of the Board of Rocky Mountain
International Ltd., which is the company being used.
In March of 1997, Michael Puhr was the CEO and a Director of Phoenix
Resources Technology Inc., an OTC bulletin board company trading under
the symbol PRTI. On March 14, 1997, Phoenix Resources sold its oil and
gas assets to an OTC bulletin board company named MVP Holdings. Phoenix
Resources received 4,000,000 shares of MVP restricted stock. At the
time MVP Holdings stock was trading at $3.50 per share. If the
4,000,000 shares were free trading, and if there was an active market
for MVP Holdings stock, the market value of these shares would have been
$14,000,000.
Shortly after leaving Phoenix Resources, Michael Puhr took over control
of an OTC bulletin board company named Olympus Ventures Ltd. ("OVIS")
and changed its name to Rocky Mountain International Ltd. ("RMIL"). Mr.
Puhr became the CEO and Chairman of the Board of Rocky Mountain.
On October 9, 1997, Michael Puhr, as the CEO of Rocky Mountain ("RMIL")
signed and filed an 8-K with the SEC. In that 8-K (excerpt attached)
Michael Puhr represented that Rocky Mountain owned an investment of
$14,000,000. Mr. Puhr has since clarified that the $14,000,000
investment is 4,000,000 shares of MVP Holdings.
On October 8, 1997 MVP shares traded thinly at $0.19 per share. On
October 9, 1997, no shares of MVP Holdings traded. If Rocky Mountain
owned the MVP Holdings shares, and if the shares were free trading, and
if a liquid market existed for the shares, the 4,000,000 MVP shares
would be worth $760,000.
Michael Berg, the CEO of MVP Holdings states that on September 29,
1997, he canceled the 4,000,000 share certificate owned by Phoenix
Resources and commenced preparing replacement certificates of MVP shares
for distribution to the shareholders of Phoenix Resources.
On October 8, 1997, one day before Michael Puhr filed his 8-K, Phoenix
Resources issued a press release (attached) announcing that they
(Phoenix Resources) were distributing the 4,000,000 shares of MVP owned
by Phoenix Resources, to the shareholders of Phoenix Resources. The
release stated the distribution of these shares would be on or about
October 15, 1997.
On October 21, 1997, MVP Holdings issued a press release (attached)
disavowing any claim of ownership by Rocky Mountain or Olympus Ventures
of MVP Holdings shares.
If Michael Puhr can take the 4,000,000 MVP Holdings shares owned by
Phoenix Resources, which he can't, and if the shares were free trading,
which they are not, and if a liquid market existed, which doesn't, the
4,000,000 MVP Holding shares would be worth $760,000, not the
$14,000,000 stated by Mr. Puhr.
In addition to the phantom $14,000,000 investment, Michael Puhr and
others are also telling investors that Rocky Mountain has a thriving
water bottling business and garment manufacturing company. The truth is
that the garment factory has been closed for about 7 months, and the
water bottling facility has one part time employee in Ten Sleep Wyoming
(see attached newspaper article).
I have filed a lawsuit against Olympus/Rocky Mountain, Michael Puhr and
others who are assisting Mr. Puhr in this scam. I have also filed
complaints with the SEC who are looking into the matter. In addition I
have written to over a dozen senior officers of NASD and NASD Regulation
Inc.
When Rocky Mountain blows up, certain newspapers will be quick to point
out that this stock scam was master minded by an NASD broker. They will
fail to mention that World Marketing Alliance has the primary
responsibility to oversee the activities of Michael Puhr.
Please contact me if you need any clarification or additional
information.
Sincerely,
Dempsey Mork
45-110 Club Drive, Suite B
Indian Wells, California 92210 |
