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

To: tonto who wrote (26813)	12/12/1997 7:22:00 PM
From: Sid Turtlman	Read Replies (3) \| Respond to of 55532

Tonto: I am taking a look at this one for pure entertainment value. Have these clowns filed a 10-Q recently? Last one I can find was filed in the middle of May. A quick look shows that management lacks familiarity with some pretty basic rules of accounting. If you or anyone has a link to more recent financials, I would love to see them. Thanks.

To: tonto who wrote (26813)	12/12/1997 7:26:00 PM
From: michael d kugler	Read Replies (2) \| Respond to of 55532

I spoke with Hardly Lewin, Jamaican Coast Guard Commanding Officer. He says the vessel was originally a Canadian Coast Guard buoy tender and ice breaker, flying a Belizian flag. About 2 or three years ago, the vessel came into Jamaica and was found to have cocaine on board and was seized by local officials. It was not described as the mother lode, however. Peter Hargitay was tried and acquitted in Jamaica on the charges. He then went to Miami, where he was also arrested and tried, and acquitted recently. He is now tied up in some extradition proceedings with Hungary. He carries a Swiss passport and is married to a Jamaican woman. He also claimed to be working for the DEA. The ship was under bailiff's control until early summer. Financial liabilities on the vessel exceeded it's worth, and was then sold to a Colombian company. The crew finally quit, as they were not getting paid. It was sold for $15,000. (It was in terrible shape, not refurbished as Morgan stated). As they were towing it away, it broke loose and was grounded near Lime Cay, just outside of Kingston Harbour. They had to pump it out every week because it was taking in water through the stern tubes and flooding the engine room. A bunch of scavengers, apparently thinking there were more drugs on board went at it with blowtorches and (inadvertantly?) set it on fire. It is a rusting, burned out, wreck, still grounded, with water lapping at the gunwales. So when Morgan made that announcement, there was no refurbishing going on. The Commander laughed when I told him about the announcement. Remember, the company said that they had capitalized the major improvements and the maintenance and repairs were charged to operations. The financials told us little about the real picture.