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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: TideGlider who wrote (38235)1/26/1998 2:37:00 PM
From: Pugs  Read Replies (1) of 55532
 
Undeclared short sellers don't borrow the stock they are selling. They
(in most cases) don't even have to pay the margin requirements for their
position. They are betting on (and trying to create) total failure of
the public company. The odds of failure in small business are better
than 98 to 2.
There are many ways a public company can confirm an undeclared short
position in their stock. One way is to use the response to the company's
annual general meeting. The company can add the issued stock (IS) and
the short interest (SI). The sum is the stock available in the company's
market. Now add the known shareholder positions (KS) and the street
stock proxies (SP) If the (KS+SP) sum is greater than the (IS+SI) sum,
you have an undeclared position in your stock. Most street stock owners
(held in street name at a brokerage firm) don't even submit proxies. You
can estimate the size of the undeclared short position by multiplying
the stock proxies by 1000. This assumes 10% of the street owners
submitted proxies (an estimate, by the way, which is unusually high).
When public companies do this comparison they often learn they have 3-7
million shares short and undeclared.
Riley has posted RMIL numbers on this thread before. They have been recently revised, verifying claims with cert#'s, dates, chronological & numerical sequences, on the E-Mail thread.
Pugs
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