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

To: Pugs who wrote (21239)	11/24/1997 11:50:00 AM
From: Hawkmoon	Read Replies (4) \| Respond to of 55532

Pugs, I really didn't think that I would change any minds. Actually, that is not my purpose. What I hope to achieve is a situation where each investor in this company has the information available to weigh all possible risks based on the indicators that I am perceiving. You are correct in the I provided a GIFS chronology, but if you had bothered to investigate further (or at least contemplate that case a little), you would have seen the comparisons. GIFS claimed that is was a holding company on an aggressive acquisition strategy (sound familiar?), they claimed to have a gold mine in Idaho worth at least $120 million once operational. RMIL is promising to turn itself around through an acquisition of Palco and its merger with RMCW, pending financing in the form of $5 million cash and $5 million equity (This is still the case, right?). They also claimed to be in the process of constructing a series of Highway "pitstops" catering to people who were traveling to Car Races(which never were under construction). RMIL's operations have been shown through photographic and journalistic reporting that they are practically non-existent and certainly not operating in a profitable manner. (read the newspaper article from the reporter in Wyoming.) They also claimed to have a Re-insurance business which they "conservatively" valued at $100 million plus which also didn't exist to the extent they claimed and was in violation of State Insurance regulations in Tenessee and other states that they were seeking to do business in. They also claimed hard assets amounting to millions of dollars of gold and corundum which they had access to. And then there was the 100 million Mexican CD that they claimed to have full use as a instrument of collateral. RMIL has publically shown a track record of misrepresenting the net worth of their assets. (or even the operational status of their operations given that they have no operational garment factories currently in production according to evidence presented by the nays) The CEO claimed that he had been in listed in Who's Who of business and had extensive international contacts. What they failed to mention was the he had served time for Narcotics at age 19. Even when they did discover this, it was called a "youthful indescretion" by the GIFS yeas, foremost among these was the Waaco Kid moderator. No comparison other than the fact that Gary Morgan has alledgedly brought at least 12 companies public and has similiarly deep pocketed international connections. Does anyone know the names and history of these 12 companies??? Or does anyone really care about the past performance of this managment team?? They claimed they had a 900,000 short position that existed illegally and that the company had declared the 144 stock that backed this position "unauthorized" and non-claimable. RMIL is claiming that as many as 1 million shares of its stock is "short" There was an extensive effort to squeeze the shorts during the 1 1/2 months before the stock was halted by the SEC. While a halt has yet to occur, the cartel has been in the short squeeze business for several months and this stock still lingers in the $2 range, and that is with having almost all shares in certificate form.. or so they say. They "fired" their TA when they believed the firm was delaying the delivery of stock certificates to shareholders. Others say the TA firm quit due to the shenanigans of GIFS management. RMIL hired a new TA firm for basically the same reasons. The shorts in GIFS have NEVER had to cover their short positions that I aware of. And the authorities couldn't have made them do it anyway. They would (have?) just issue a fine. Neither will RMIL shorts in my opinion. The stock price never seemed to reflect that a stock squeeze was underway. Why?? Because the CEO and other were selling stock into the market from foreign (Tonto, Canadian, right?)accounts. RMIL's recent trading record indicates a similiar trend. Have you gotten written accountability from RMIL management that they aren't selling any stock, long or short based on their current holdings of 144 stock which they may be pledging to future delivery as cover for their shorts?? The "big deal" was always just around the "corner" as has been the story with RMIL(OVIS).... Big deals with Kids R Us, the Taiwanese "daddy Warbucks". But whatever happened to all of their past clients like Kmart... etc? What is currently happening?? Are they making money anywhere other than by selling their stock?? Pugs, to those who read this post, I hope that you weigh very carefully why you are long/short on this stock and what the repercussions will be for your investment. Remember the authorities, so far as I understand the law, can not forced a short seller to go out into the public market to buy their stock position back in order to cover. However, they can fine them 3X the amount they received for illegally short selling the stock in the first place. But again, this will take an investigation and many months of legal negotiation. Hope this is more along the lines of what you were asking for Pugs. And you're right Foreman was absolutely screwed. I almost believe the fight was rigged from the beginning. Regards, Ron