WE have 2MM shares in certificate form, The float has been confirmed by the co. to be 2.17MM shares.
Holders of large positions of RMIL are still having great difficulty getting their certificates. I, myself, was promised a "bundled" order ( 4 orders) ...and recieved a tattered and torn cert for a measely 250 shares!!!
The mechanics of a squeeze that were evident w/ IOMEGA are evident here. The difference here, would be the NAKED SHORTING.....you can't simply dismiss IOMG was a pink-sheet which liberated itself to other boards....IOMG was shorted to $.10/share. IOMG was critiqued for having a useless product which couldn't be purchased in the US. It was heavily shorted. When it was, longs increased their positions, like we are. You raise your nose to the idea that RMIL MM's might be churning amongst themselves or short-selling, but, when was the last time YOU were allowed to buy on the bid. That would suggest to me, a 'sale' to another MM.
Also, I contend that when 2 brokerages covered their short positions the value of RMIL stock increased to $4/share. That was followed by sell-off. The sell-off has no effect on the squeeze because the shares were not certified.
You pick co.s on fundamentals, at one time, as my comparison showed, NOBODY had a use for IOMG's drive, it wasn't available in the US. RMIL has $30,000,000.00 in backlogged water orders, a $10,000,000.00 cash infusion that is partially going towards building a new bottling facilities in Tensleep to fill those orders. New Mills are being planned for the Dominican Republic for the garment end of the buisness, and like IOMG, RMIL desires to move to another board, the AMEX.
Pugs |
