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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 (37792)1/23/1998 1:38:00 PM
From: tonto  Read Replies (1) of 55532
 
The most recent filing which excludes future merged consolidated balance sheets provides the following information of the financial condition of OVIS without RMCW:

PART I

Item 1. Financial Statements.

Attached

Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operation.

Liquidity and Sources of Capital

The Registrant's cash was zero at March 31, 1997 compared to $17,870.00 as of March 31, 1996. The decrease was due to reducing accumulated accrued expenses from previous year.

The management has negotiated the necessary operating funds to reduce asignificant portion of the past debt and allow its subsidiaries to run without interruption. Both offshore factories are realizing positive cash flow at this time and are expected to continue throughout 1997.

Management is still negotiating manufacturing lines of credit to enable its manufacturing subsidiaries to increase its production in the ensuing year.

During the third quarter, operating capital was acquired from several sources:

1. Manufacturing and contract work at the subsidiaries.
2. Financing negotiated by Management.

There has been no significant changes in the liquidity during the past quarter.

Results of Operations

The Company had revenues in the third quarter of fiscal year 1996 in the amount of $241,049.00 compared to $519,679.00 in the third quarter of fiscal year 1995, the Company had to recover in Nicaragua due to the elimination of a major contract lost in the end of the second quarter. Benefits from this loss of work will be noticed in the fourth quarter as new contracts with better profits were entered into. I will be interested in reading the results in the 10K.


...



Dated this 15th day of May 1997.

OLYMPUS VENTURES, INC.
( the "Registrant")

By: /s/ Gary R.Morgan
Gary R Morgan
Chief Executive Officer
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