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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 (37793)	1/23/1998 4:06:00 PM
From: TLWatson59	Respond to of 55532

tonto: The data you cite comes from an unaudited 10QSB which was filed in May of 1997. We know from subsequent investigation that much of which was referred to in that filing turned out to be inconsequential since it dealt with other assets which OVIS did not actually own and from what we have seen to date references to sales and contracts that never materialized. In the EDGAR listing that I saw, there have been 4 financial filings three of which were 10QSB's which of course are unaudited. The one audited 10K filed on 3/27/97 covered the reporting period ending 6/30/96. If we take some comments offered here as accurate that the NASD will accept financial filings up to 18months old as valid to meet their requirements, which I do not accept as so, RMIL/OVIS is still in default since more than 18 months have elapsed since June 30, 1996. I may be wrong but I have not seen anywhere that a Market Maker on his own may choose to elect to trade a security simply by accepting a financial statement from a company and claim to be in compliance with Rule 15c2-11. One thing I am certain of is that before they lay down and die, the princpals of RMIL/OVIS will try to pull a few more rabbits out of the hat. Another thing I have been assured of is that the SEC will not be just walking away from this investigation but will pursue diligently its obligation to protect the public from what it stated in its original Stop Trade order. Many thanks for your inciteful contributions to this and other threads utilizing not only crafted due diligence but ultimately applying simple common sense in your approach. Best wishes, TLW