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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: tonto who wrote (37765)1/23/1998 10:47:00 AM
From: TLWatson59  Read Replies (4) of 55532
 
tonto: I now join the ranks of the confused. What effect would RMIL releasing any kind of information to Sharpe have on their ability to make a market in the stock? Rule 15c2-11 is quite specific in that it requires a "company" to file SEC required financials with the SEC and any exchange that its shares are traded on. The "broker/dealer" then must file a compliance notice to the effect that they the"broker/dealer" have ascertained that such qualified financials are on file with the proper "agencies" before they are permitted to post a bid and asked price in a stock which had undergone a stop trading order.

At least that is my understanding of the law. Do you have another perspective on this?

Another confusion comes to mind everytime I read Pugs' post concerning the delay in filing the 10K until the financing is secured.The 10K is the equivilant of a company's "Annual Report." There is a specific time period which its contents must cover. That is either the Calendar or Fiscal reporting year for a publicly traded company. Thus even if RMIL were to receive 10 time the $10 million being bandied around here for so long it could in no way have any effect on the material which must be presented in RMIL's 10K for its latest reporting period which I believe is more than six months past due. This is a shortcoming IMO in relying on the company alone for your DD. Especially since the wording of the original SEC stop order cautioned us to be wary of statements issued by RMIL's officers

I would like your take on this if you care to comment.

Best wishes,

TLW
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