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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: RBM who wrote (42405)2/24/1998 8:06:00 AM
From: Hawkmoon  Read Replies (3) of 55532
 
RBM,

What is it with you Yeas?? Do you think that if you IGNORE explanations of SEC trading halts and the implementation of 15c2-11 that SOMEHOW IT WON'T APPLY to RMIL???

So I give it to you once again (primarily for the benefit of newbies who might give your tripe any credence). Sit down, turn off the your "Foo Fighters" version of "Baker Street", take a couple of mega doses of Ritalin and read this sloooowllllly.

"Although a trading suspension only halts trading for a ten-day period, the suspension triggers application of Exchange Act Rule 15c2-11, which requires a market maker to have current and accurate financial information about the issuer before trading resumes. In other words, it is difficult for a broker-dealer to lawfully resume trading."

sec.gov Page 16 although I suggest you read it all. I was at this testimony up on the "hill".

And now the translation in case you still don't grasp it... The trading halt is ONLY for 10 days. This is the SEC waving the "red flag" to the market in general and MMkrs in particular. The MMkrs now have to file this ungodly long electronic application in order to resume making a market in the stock which includes certifying to the SEC that they have current info on the company.

The dirty dark secret here is that NASD OTC compliance can receive a 15c2-11 application from a mmkr and not act upon it. They can sit on it literally until the SEC gives them the "nod" before recommencing trading of any type. Or even provided tacit approval to trade, the Mmkrs may wait for a significant event to occur before "punching on" and committing themselves to the exorbinent market risk associated with halted stocks.

Now the big problem you all have here with RMIL is that the Mmkrs don't have any inventory of RMIL stock, and it doesn't appear that any of you will loosen up any in the near future. So they have very little reason to trade this thing. And if there had been a short squeeze in play to the extent Riley claims, this stock would have been far higher in price than a mere $4.

Bookmark this so you don't feel compelled to ask something that has been explained several dozen times.

Regards,

Ron
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