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

To: s martin who wrote (21127)	11/23/1997 5:47:00 PM
From: michael d kugler	Read Replies (1) \| Respond to of 55532

It has been difficult to follow the share accounting since the 1 for 10 reverse split. And the hardest number to come up with is exactly how many shares there were at the exact moment of the split. What Morgan has told other threadsters here is that there are 800,000 or so 144 (insider) locked up, (I've heard varying descriptions) shares which were survivors from the 1 for 30 reverse split. The only hard number given that I can find was 809,000 outstanding on 1-23-97 in a press release by Morgan right after the split. That BTW would imply 24,270,000 pre split. (9,666,464 from the 10-K, 13,100,000 from the Reg-S, 1,500,000 from the S-8, 40,000 from a receivables deal, comes to 24,306,464. A bit too many, but backing out the 40,000 would get them close. But also included in that number is the 400,000 which they said was cancelled. So the post split starting point should have been anywhere from 796,882 to Morgan's 809,000 on January 23rd. What that also means is that there must be 100,000 or so issued from January 23 until March 26, when they report 914,401.(about 13% dilution or so.) So when Pugs reports that the company says the 800,000 or so are coming from pre-split shares, the numbers bear him out. What this also means is that, if there are any shares in the float, they must be coming from the April S-8's. Also bear in mind that a good number of shares are from acquisitions and are coming off any restriction they once had. The shares from the acquired companies should all be off restriction by the end of this month, assuming a maximum 2 year hold under the new 144 law. The company has said they were going to issue more restricted stock to pay for the stocks coming off restriction. I'm not sure I'd wait any longer for my money. But, if they can pull it off, great! And Riley reports 300,000 restricted shares were issued on 10-23. So Morgan and Co must only have 500,000 between all of them (whoever they are). If the company says only 800,000 are locked up, then at least 300,000 from the pre-split shares are floating. My float numbers easily agree with the company's 2.6 million. My guess is there are a few more. It's not inconceivable there could be 2.8. I still can't spot the squeeze, can you? Riley, if these are wrong, feel free to correct me.