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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Ditchdigger who wrote (23717)12/4/1997 7:29:00 PM
From: michael d kugler  Read Replies (3) of 55532
 
The shares should have come off restriction on November 2nd, 1997, assuming the maximum holding period for 144 stock was changed to two years (regardless of what the holding period was when received) on May 1,1997.

My understanding is that there were some attempts to come to some sort of agreement betweeen the lawyers, to no avail. A pre-emptive suit was filed by OVIS/RMIL.

My guess is that this whole situation in Nicaragua will be a fairly substantial legal mess.

I'm not sure who's right here, but since this affects a huge chunk of this company's operations, it is certainly a material event. Nelson/Barons says they weren't paid. RMIL says the deal wasn't worth what was originally paid. But, in light of the apparent financial difficulties which led to the eviction of Barons and the take-over by JEM III, it seems difficult to believe they were getting the work which was promised and announced.
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