As you know the stock was halted by the SEC last Dec., the company appears to be broke and up to their ears in debt, they are offering the shareholders one more opportunity to lose money as you will see. Apparently the fact that the company has lied to it's shareholders is not a deterrent to those who believed the hype in the first place.
>From: mailto:Ovisusa@aol.com
>Date: Wed, 1 Jul 1998 14:32:05 EDT
>To: Riley.G
>Subject: Letter to Shareholders
>X-Mailer: AOL 3.0 for Windows 95 sub 18
>
>I am authorizing you to send this Stockholder letter to any RMIL shareholder
>you know. I will be mailing out the letter to all shareholders during the
>next two weeks.
>All questions should be directed to Roland Breton or myself by telephone (not
>by E-Mail ) We most likely will not respond to any of the E-Mail due to us
>not knowing to whom we are writing.
>
>Best Regards and Good Luck
>Gary R. Morgan CEO
-------------------
Rocky Mountain International, Ltd
3418 N. Ocean Blvd.
Ft. Lauderdale, Florida 33308
Tele: 954-565-9292 Fax: 954-565-8894
July 1, 1998
To: Rocky Mountain International Ltd. Shareholders
From: Gary R. Morgan CEO
Dear Share Holders;
As I'm sure that you are all aware, we have not been trading since December
22,
1997. Roland Breton ( President of RMIL ) and myself who are shareholders and
(unpaid) officers of RMIL, have exhausted all of our personal funds in an
attempt to revitalize RMIL and we now need help from the other shareholders.
Rocky Mountain International Ltd. needs to take advantage of the publicly held
trading company, which has a $13,000,000 loss carry forward ( a value of
$4,000,000 ) and a good stock holder base. It is our belief that if the
following will happen the company would begin trading and be an ongoing
profitable concern.
1. Complete the 1997 and 1998 10K's
2. Have funds available to fight Mork's litigation against the Company
3. Have funds available to continue operations of RMIL
4. Merge with a profitable on going company
5. Prepare a 506 offering
The question is how much is needed to accomplish the above, and the answer is,
not that much considering what we the shareholders have already invested.
FUNDING OF THE 10K's
The auditors, Lazar-Levine & Felix past due is $75,000, and the additional
work
needed would be approximately $25,000
MORK'S LEGAL ACTION
The cost of the legal action should not exceed $25,000 over the next twelve
months. It is still the opinion of our attorneys that there are no grounds for
which Mork has filed.
OPERATIONS
An immediate $30,000 is needed for the most immediate pressing obligations
with
$20,000 per month for four months for the day by day operations. This would
include the traveling required for the audits and defending the litigation.
Morgan and Breton would agree to continue operating the company without
pulling
any funds out of the company for future compensation until such time the
company can financially handle it.
PUBLIC 506 OFFERING
Preparation of the offering will be approximately $15,000 and will take 60 to
90 days from the start date.
MERGER WITH AN ON GOING BUSINESS
At this time Morgan and Breton has negotiated an agreement with a privately
held company subject to RMIL being current and trading on the OTC Bulletin
Board.
The company that has agreed to the merger currently is in a business of which
Morgan has 30 years experience. It is now in its second year of business with
profits more than $500,000 and sales now exceeding $2,000,000, with projected
sales for 1998 of $5,000,000.
Considering all the above costs, the initial funding would be $50,000 to the
auditors, $30,000 operations, 10,000 retainer for legal action (total of
$90,000). The balance of funding would need to be in place within 30 days. A
total for the balance would be $160,000.
The Company is offering the following terms and conditions for purchasing
stock
to all individuals who are registered shareholders of Rocky Mountain
International, Ltd.
a. Each shareholder may purchase an equal amount of shares as they currently
hold in certificate form or 10,000 shares, which ever is greater for the price
of $.25 per share.
b. Shares will be Rule 144 stock and will have a one year restriction.
c. Each shareholder must sign an agreement to hold their current shares for a
minimum of 90 days from the day that the Company resumes trading.
d. Company will agree to a stockholders meeting 30 days from the resumption of
trading.
e. Maximum dollar amount to be raised will be $250,000.
f. Minimum to be raised is $150,000, if this goal is not reached, all
purchases
will be canceled and funds will be returned.
g. Before the Company begins trading it will request a name change, all
suggestions by the shareholders will be considered.
h. At the stockholder meeting the Company will introduce the new acquisitioned
company and will be open for discussions.
I hope all shareholders will take this letter serious, if not, and we are
unable to raise the necessary funding to reopen trading the company will
become
dormant and all will lose.
Best Regards
Gary R. Morgan
ALL INQUIRES SHOULD BE SENT TO THE ABOVE ADDRESS AND TELEPHONE/FAX NUMBER, OR
Email US AT mailto:OVISUSA@AOL.COM |
