Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jeff Harrington who wrote (22838)	12/1/1997 1:58:00 PM
From: Just My Opinion	Respond to of 55532

J.H. It turned out to be a very good idea..I agree...al

To: Jeff Harrington who wrote (22838)	12/1/1997 2:05:00 PM
From: Pugs	Respond to of 55532

********FYI************ November 14, 1997 DEVELOPMENT BANCORP LTD (DVBC) Quarterly Report (SEC form 10QSB) Management's Discussion and Analysis Revenues for the three months ended March 31, 1997 were $0, compared to $33,063 for the three months ended March 31, 1997, 1996 revenues were derived primarily from commissions from the Company's interest in Pemp Gestion Network, which experienced a downturn in its business in calendar 1996. General and administrative expenses were significantly less is 1997. After deducting $167,834 in prior period adjustments (see Note 5) general and administrative expenses were less than half of the 1996 amounts, due to the disposal of KSM Holdings. ***********READ ON!!! FYI***** Other income (Loss) in the three months ended March 31, 1997 was significantly higher due to a writedown in the Company's investment in Pemp and its related companies by fiscal 1997 the Company determined that it should write of $2,884,818 of its $4,016,836 investment in Pemp and its affiliates. This writedown was made because management was unable to obtain financial records of these companies to support the valuation at cost, the lack of documentation for the Company's 1996 investment in Preferred Stock of Gestion, Gychor, Inc. and the consequent inability of the Company to evaluate the future benefits of the investment in the Pemp affiliates as operating companies. The company is negotiating with the investees to document the Company's interests and to provide assurances that the amounts booked as of March 31, 1997 can be recoverable at least on a liquidation basis of the Pemp affilia ******PUT THE PIECES TOGETHER!!!*****