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: RBM who wrote (42405)	2/24/1998 8:06:00 AM
From: Hawkmoon	Read Replies (3) \| Respond to of 55532

RBM, What is it with you Yeas?? Do you think that if you IGNORE explanations of SEC trading halts and the implementation of 15c2-11 that SOMEHOW IT WON'T APPLY to RMIL??? So I give it to you once again (primarily for the benefit of newbies who might give your tripe any credence). Sit down, turn off the your "Foo Fighters" version of "Baker Street", take a couple of mega doses of Ritalin and read this sloooowllllly. "Although a trading suspension only halts trading for a ten-day period, the suspension triggers application of Exchange Act Rule 15c2-11, which requires a market maker to have current and accurate financial information about the issuer before trading resumes. In other words, it is difficult for a broker-dealer to lawfully resume trading." sec.gov Page 16 although I suggest you read it all. I was at this testimony up on the "hill". And now the translation in case you still don't grasp it... The trading halt is ONLY for 10 days. This is the SEC waving the "red flag" to the market in general and MMkrs in particular. The MMkrs now have to file this ungodly long electronic application in order to resume making a market in the stock which includes certifying to the SEC that they have current info on the company. The dirty dark secret here is that NASD OTC compliance can receive a 15c2-11 application from a mmkr and not act upon it. They can sit on it literally until the SEC gives them the "nod" before recommencing trading of any type. Or even provided tacit approval to trade, the Mmkrs may wait for a significant event to occur before "punching on" and committing themselves to the exorbinent market risk associated with halted stocks. Now the big problem you all have here with RMIL is that the Mmkrs don't have any inventory of RMIL stock, and it doesn't appear that any of you will loosen up any in the near future. So they have very little reason to trade this thing. And if there had been a short squeeze in play to the extent Riley claims, this stock would have been far higher in price than a mere $4. Bookmark this so you don't feel compelled to ask something that has been explained several dozen times. Regards, Ron

To: RBM who wrote (42405)	2/24/1998 10:04:00 AM
From: Joe Master	Read Replies (3) \| Respond to of 55532

If you have read any of the SEC's statements on the subject they know that the 10 day suspension by itself is enough. The company cannot trade after that until all the financial statements are caught up. This is the purpose of the halt. The SEC knows it will be effectively halted for a much longer period of time. Check out all of the other OTC:BB halts issued in the past few months. It is true in 100% of these cases. In the case of RMIL the financials will show such a bleak picture that they will never (ever) publish them because they would rather slink off into the night rather than face the consequences of being barred from being officers in a public corporation and being stuck with the scamster label. Isn't it obvious when an investor makes a commitment to make an investment in a nearly bankrupt compay and that "supposed investor" is never named and is supposed to be from "Asia" shouldn't that also raise a few eyebrows. (Especially since most of asia is going through an extremely turbulent financial climate). Then when the investment date comes and passes it should raise a question or two. Next the company in mid November comes out saying they have a definitive date for the investment I would think you would be a worried investor. (Shortly after this I sold my last holdings of this company). A lot of blame has been given to the nays at this point on why the stock price is down to a dollar and change. Then the next date for funding passes. Also about this time the SEC issues a trade halt because they say you cannot believe the statements of the company. I would think this would raise a few questions as well. The SEC while not perfect does a decent job of weeding out scams. Since the time of the halt another two funding dates have passed. The company makes no public statements, but non-public information is assumed to be true when received from some internet contact. Does this sound like the way a professional organization is run? I have been hanging around here since I sold thinking maybe I would jump back in if the money was raised and the company went forward. But about 45 days ago I came to the conclusion that this was a 100% legit-free company and that nothing would ever come of it if it ever traded again. I may have been born at night but it wasn't last night.