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Microcap & Penny Stocks : ICVI (now MTEI) -- Ignore unavailable to you. Want to Upgrade?

To: LT who wrote (10943)	6/9/1998 11:13:00 PM
From: Moonglow	Respond to of 11850

Y'all are starting to make me laugh again. Of course I'm an optimist! It's the only thing that has kept me going sometimes...and you know what? That optimism of mine has been usually right. And when it's not right....then I just shrug things off and keep on truckin'! I figure, what the heck, in another 100 years I'll probably be dead anyway. Juanita

To: LT who wrote (10943)	6/9/1998 11:16:00 PM
From: jhild	Respond to of 11850

Mountain Energy (OTCBB: ICVI), formerly International Casinos Cruises Inc., recently shed its guise as a gaming organization (it only had an interest in one gaming boat) and decided to become an energy company. Mountain Energy claims ownership of coal and gas reserves conservatively valued - according to them - at more than $200 million, tucked away in previously inaccessible sites in the West Virginia hills. This stock has all the classic signs of a pump 'n dump: changing to an industry unrelated to prior focus, a vicious run-up in share price (from $0.04 to almost $2 in two weeks) and weak fundamentals that don't support what the company plans to do. There are 70 million shares of ICVI outstanding, 50 million of which were issued as restricted shares for the purchase of Mountain Energy. Who controls the other 20 million shares depends on whom you talk to. The company lists two contacts on its press release for investor relations. According to Joe Gort, shareholders in the original shell control about 5 million shares. According to George Guttman, the shell owners control all 20 million remaining shares. Confusing? You bet it is, but it makes investing in the company an even easier call. Oh, and did we mention it's non-reporting with the SEC? Here's the text of that article and it doesn't seem so bad. It looks like management has a few questions to answer, but we knew that anyway. So why the venom for a report like that? It seems like caution may well be in order here until more information is known.