DD: Or anyone...can you enlighten me to the conflict in terms
in the LID 8-K filed in October?
Message 3249459
sm: or anyone: There seems to be a conflict of terms in the body
of the LID 8-K issued in October. It begins stating that on the
receipt of the equity the shares WILL be issued to the owners of
RMCW. That is dated September 24, 97 and is part of the agreement
of terms.
At the bottom of the BODY there is the Release by RMIL that they
have ISSUED the stock.
>>>In exchange for the shares of common stock of Rocky Mountain, the Company
will issue 6,684,750 shares of its common stock to the shareholders of Rocky
Mountain and an additional 6,000,000 shares one year from the date of the
Agreement, assuming no disqualifying events occur during the one year period. The
Agreement is
intended to qualify as a tax-free reorganization under the Internal Revenue Code.<<<<
>>>OVIS issued 6,684,750 restricted shares of Rule 144 Legend common stock to
RMCW shareholders, and will issue up to 2,500,000 restricted shares of Rule 144
Legend common stock to be exchanged in lieu of Five Million Dollars ($5,000,000).
The 3,071,081 pre merger shares of Olympus Ventures stock making
up the balance of the 9,755,831 outstanding shares. Full
disclosure of the merger and a copy of the contract will be filed within the required
reporting period.<<<<
If the later announcement is true the shares were issued and that
would make any required time period for the stock to be restricted
effective from the date of exchange.
Am I correct? In reading the contracts it is specific that the
exchange of the stock is to be made after receipt of the cash.
TG |
