Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) Message Board

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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 (31206)	12/29/1997 12:40:00 AM
From: Kurt N	Read Replies (2) of 55532

this is a circular question/issue. The forthcoming 10-k will confirm my theory. The order of events is as follows: 1. as of June 30, 1996 (ending period for the previous 10-k) the company didn't have any of the CEA assets due to difficulties obtaining them, so they took a tax writeoff (which makes sense) 2. Sometime before Sept 96, they recover the Pilar de Caribe from and refurbish it. 3. Sometime after this (which will be mentioned in the forthcoming 10-k) the asset got disposed off. (and mentioned how it was disposed. Hopefully they sold it for some $$$). If they recovered money or the boat, the company would have to recognize it as income since they took the tax loss for the prior year, minus any money spent refurbishing it. (I think). Also this would be mentioned in the forthcoming 10-k. Maybe I'm right, maybe I'm not. Kurt

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