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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: MY OPINION who wrote (49305)7/8/1998 11:13:00 PM
From: TopCat  Read Replies (1) of 55532
 
Daddy,

I think you are wise not to like that idea.....regardless of which way it went after reopening (if it does), the ones that didn't sign on would have an unfair degree of liquidity. In other words, the best strategy is to hope that others pay the bill and you keep you flexibility......but then, what if they don't pay the bills???...then all bets are off.

I haven't asked anybody, but I am not convinced of its legality. In situations that I have been involved in, any placement requires the approval of a governing body. My direct experience is not in the US, but the laws are very similar. In addition, there seems to be a material change in plans here which suggests that an 8K is required.

JMHO.

TC
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