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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Angel D who wrote (47662)6/1/1998 10:44:00 PM
From: Hawkmoon  Read Replies (1) of 55532
 
Angel,

Since RMIL was halted in December, 1997 the time of "worthlessness" would fall within that tax year.

And I'm telling you what my accountant told me. When he saw the depressed price of GRNO, he is the one who suggested investigating whether or not the stock was effectively "worthless" due to an non-existent market. But alas, it was not.

But RMIL seems somewhat different in that relatively few shares have been traded and at a completely erratic price. I don't know if it is a worthless stock or not, but having an accountant check it out would give everyone a confirmable source for finding out where you all stand. And if it is, then it might be possible to utilize as a tax loss for 1997 in a revised tax return.

So why is this such an evil suggestion to make?? It actually would be to the benefit of RMIL shareholders as it would remove any compelling reason for selling their shares to offset their quarterly taxes on capital gains.

And not being under pressure to sell shares for tax purposes puts the pressure on any massively short mmkrs to change their strategy and offer what would be the actual worth of the shares (to them, of course) in the open marketplace.

Oh well... do with it what you will.

Regards,

Ron
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