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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) -- Ignore unavailable to you. Want to Upgrade?


To: Jerry Whlan who wrote (18156)11/15/1997 12:02:00 AM
From: FTJoe  Read Replies (1) | Respond to of 55532
 
Forgot about that Jerry, but then there's this:
techstocks.com



To: Jerry Whlan who wrote (18156)11/15/1997 12:23:00 AM
From: Ellen  Respond to of 55532
 
Thanks for that link Jerry. Hope you don't mind if I repost it here for reading.

To: Jerry Whlan (5990 )
From: Jerry Whlan
Monday, Oct 20 1997 10:23AM EST
Reply #6523 of 18186

Given the messanger, I expect that there is still more to the story here, but someone needs to get on the horn and talk to RMIL.

Well, I am a little bit closer to buying into this squeeze theory. However, I am disappointed that no one who has already bought stock and was not aware of the terms of the S-8 called RMIL's IR to get clarification and then post on this issue, perhaps some of the nays are right about the ostrich phenomenon. So, I did it myself and there is more to the story.

According to the guy handling IR at RMIL (probably Breton, but I didn't ask) all of the shares issued in the S-8 filing this past April are Rule 144 shares, despite there being no direct mention of Rule 144 in the S-8. According to him, it is automatic that they are Rule 144 shares.

Furthermore, yes some of those shares were given to a (stock?) promoter.

Additionally, yes the options will vest at 6 months from issue now that the company has gone through a transfer of control, but they are still Rule 144 shares.

So, for those of you who are inclined to believe the company, the shares from that S-8 will not begin to become free trading until April or so of 1998, when the Rule 144 restrictions run out.