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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Ellen who wrote (49462)7/11/1998 11:45:00 AM
From: Hawkmoon  Read Replies (1) of 55532
 
I realize that you have been charged by the SEC with fraud - and there is no conviction as of this date. IMHO, if they have enough evidence to even bring forth a charge, that says a lot, especially after so many months of investigation.

Ellen, I am not presenting a "defense" here. What I am presenting is the "Yeas" ignorance of the basic structure of the US legal system. (And Riley, having formerly been one of "New York's Finest" has no excuse for his)

But you're quite accurate in this statement:

"I would venture to guess the SEC does not care about your "reasons". A violation is a violation. Period."

But be aware that the SEC regulations seem to be written and interpreted in such a manner that ANY person voicing their opinion on these threads may find themselves vulnerable. And that mainly applies to Riley and Pugs.

Pugs and Riley were hyping TVSI, declaring another Mork conspiracy (who is this mysterious Mr. Mork, anyway?.. :0) and Pugs was selling into the run-up(by his own admission).

Regardless of actual intent can find themselves in technical violation of the law as Allen has aptly shown.

law.uc.edu (subsection b.)

And this one as well:

Section 10(b)-5

It shall be unlawful for any person, directly or indirectly.....

(snip.. snip...).... then this subsection.

b.To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or

Message 5164488

Now I ask you if anyone has stated anything that they KNEW was untrue about this company or stock, even when presented with evidence to the contrary.

Ooopps... there are a lot of people on the internet and in everyday life that are in violation of Securities Act of 1933/4.

Ponder that and the ramifications for free speech in cyberspace. Again, we all have the right to be wrong when we do our diligence on an investment.

But the basic difference with the RMIL ringleaders is that they were more interested in manipulating the stock than they were in assessing the actual operational status and progress of the company.

Regards,

Ron
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