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

To: Ellen who wrote (46856)	5/8/1998 12:12:00 AM
From: Just My Opinion	Respond to of 55532

Ellen: That why I try to remember to never comment on anything that is written by the government. I never really know what they fully say. I stopped reading where they said BB stocks have 6-12 months to report, or Jill gives them the boot. LOL LOL LOL al

To: Ellen who wrote (46856)	5/8/1998 12:12:00 AM
From: Garfield	Read Replies (1) \| Respond to of 55532

Keep in mind that there are 3 new rules going into effect.. 1) OTC Bulletin Board Eligibility Rule - Permit only those companies that report their current financial information to the SEC, banking, or insurance regulators to be quoted on the OTC Bulletin Board. Companies whose securities are quoted on the OTC Bulletin Board, when the rule becomes effective, will have 6-12 months to comply with the new requirements. 2) Recommendation Rule - Require brokerage firms to review current financial statements before they recommend a transaction in any OTC security (a security that is not listed on Nasdaq or any registered national securities exchange). 3) Disclosure Rule - Require brokerage firms to provide investors with written disclosure of the differences between OTC securities and those that trade on a listed market. The disclosure statement will be provided on each customer's confirmation following any trade in an OTC security. What you quoted only deals with rules 2 & 3. Rule 1 would still apply.

To: Ellen who wrote (46856)	5/8/1998 12:21:00 AM
From: Kurt N	Read Replies (1) \| Respond to of 55532

>>and individual investors can't because they can only buy securities for which mm's have reviewed current financials?<< Not quite. The way I read it was that a broker/brokerage firm will be unable to recommend/solicit sale of an OTC-BB stock to a client, under the new proposed rules, without reviewing the current financials. It says nothing about indiviudal investors, on their own inititive and at their own peril, being unable to buy the security if their broker hasn't reviewed the financials. On any unsolicited trade it has always been that investor's problem (ie. can't blame your broker for telling you to buy this stock) if the stock goes sour. Even if your broker recommend a stock and you followed it, it is (IMO) still your own damn fault. Kurt