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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Sallee who wrote (2951)	3/16/1998 11:15:00 AM
From: Ditchdigger	Respond to of 4276

Shorting against the block from an overseas account with safe harbour status on a Reg S placement is not illegal,it sucks,but it is not illegal..DD PS: thats the game, legally short and cover with your converted shares(if need be)(but we've been assured this isn't being done<vbg> Hello!,what day is it? <vvbg>)

To: Larry Sallee who wrote (2951)	3/16/1998 11:57:00 AM
From: Richard L. Williams	Respond to of 4276

Larry-- I can't claim to really know what is going on. I agree that if the share count is unchanged from a month ago, something stinky is hitting OLEX. Lack of information makes the situation cloudy. But if the shorters are shorting illegally, then they prolly are aiming to take the stock to zero--in which case they will never have to cover. A win-win for the creeps, as they made money the whole way down, and don't have to give any of it back. Seems to me that the SEC should be able to defend companies from attacks like this, but they would much rather chase companies like BAAT, that threaten the status quo. There are a lot of "ifs" here, though. If we are being shorted illegally, ie., somebody is selling short non-existent shares, then our best defense is, from what I have heard, to call our broker and ask for our share certificates. This way, the MM's could not trade our shares around to allow their buddies to cover if a squeeze starts to come off. Of course, the word we received about the debentures being purchased and not converted may be BS, too, in which case, never mind. Lessee...at this rate, OLEX will be below a dime by Friday, a nickel by next Thursday...how long 'til zero, folks? Think it can stay above zero until Oilex reports, Larry? Cheers! Rick