SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Angel D who wrote (42334)2/22/1998 9:53:00 PM
From: Riley G  Read Replies (1) of 55532
 
Date: Sun, 22 Feb 1998 21:44:32 -0500
To: mailto:news@boulderplanet.com, mailto:bsimpson@newhope.com
Subject: Riley G's comments about penny stocks article!

I have never hyped, or pump & dumped stocks and I am not amused at the
comment that you referred to in your Feb 17th, 1998 edition. I have no known
following in any investment forum. What I do have is a private email list
of RMIL shareholders that I have located through the internet, and that
have banded together as individual investors to FIGHT the blatant
corruption in the OTC market! We shareholders are calling in all of our
RMIL shares in certificate form for the following reasons.

Complaints to regulatory agencies haven't stopped the practice of
undeclared short selling. However, one way companies can protect themselves
is to recommend to shareholders that they take physical delivery of their
stock certificates. When physical delivery of stock certificates is
demanded by a significant number of shareholders, the creators of
nonexistent stock can be squeezed. The short sellers won't have stock
certificates to deliver and thus they will cause losses for them and will
cause them to move their undeclared short activities elsewhere.

The present special situation in the OTC market may have to do with the
above comments and has nothing to do with Type 1 or Type 2 (cash/margin)
accounts. We are not talking about legal shorting we are talking about
blatant selling on nonexistent shares to flood the market. Thus keeping the
price of a stock down and to terminal short it at the same time. If a
terminal short is made (stock value = $0) then the shorts or market makers
never have to worry about coving their shorts or extra shares that they
flooded the market with. This is why every shareholder must demand delivery
of their certificates!

Riley G
psicop.com

PS. After an 30 minute interview, this is the best your reporter could come
up with?
____________________________________________________________________________

The hype

The Travis chat group had already started buzzing from the first press
release on Friday.

"I told people on my private lists about this one some two or three weeks
ago. Time and patience!" wrote "Riley G," a former New York street cop
turned self-proclaimed psychic-detective and penny stock investor. "Riley
G" has attracted a small following of online, penny stock investors,
according to sources and postings on the chat room.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext