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Microcap & Penny Stocks : ONPT (formerly LOTO)
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To: Instock who wrote (52)2/24/1997 7:58:00 PM
From: rustyjack   of 61
 
I have been in this stock since summer 1994. I first bought at $5 1/4.
Luckily I averaged down to about 7/8. This began in mid DEC. I knew something was up because there was increased volume and most of the trades were going off at the bid and the bid kept rising. MM's were accumulating for some reason. ONPT would get very high volume days at then the next day almost nothing. I would not be surprised if a mutual fund has taken a positon. A lot of bigs blocks were traded.
The price action at the close looked promising for tommorrow. Two large blocks swallowed at the end. 9000 at 1 11/32
and 12,000 at 1 23/64 without changing the bid. Looked like MM was restocking for tommorrow.

p.s. At the depths of their financial problems ONPT was eyed for a buyout by International Lottery Inc, ILI, for $3.25/sh. The deal never got done and I don't know who backed out, but I think that level is obtainable.
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