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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 (38538)1/27/1998 2:36:00 PM
From: (Bob) Zumbrunnen  Read Replies (7) of 55532
 
Dempsey Mork just called me back and I came away from the conversation much less confused than I was earlier.

A Canadian brokerage was used for the sale. That's why he can remain short (and he still is short, although he's deposited the funds to offset the $20k hit). "Short" really may not be the correct term. He is "Long for late delivery" and has been unable to deliver the shares. When Zapara found out he could sell the shares for $200k instead of $20k, it gave him a case of "amnesia" (Mork's word).

When I asked him why he isn't limiting his efforts to Zapara, he told me that when he agreed to do the trade for him, he knew he was at risk for perhaps a few thousand if Zapara didn't deliver, and that that was a reasonable expectation. Previous trading patterns indicated that if he had to cover out of his own pocket, he'd only be out a little bit of money, or even make a profit (20 cents was a new high at the time, if I remember correctly).

He went into it knowing that he was exposing himself to a risk of a little bit of money should Zapara reneg. He is going after the company, though, because they increased the amount of his risk substantially, and through false/misleading press releases. An example he cited was announcing the Palco deal 3 days after it'd been called off.

Nothing altruistic about it. The company and its promoters, in Mork's opinion, have illegally damaged him very substantially.

It makes perfect sense to me and no confusion remains. Sounds plausible enough, so I'll quit wondering/worrying about it.
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