To: Janice Shell who wrote (7780 ) 8/5/1998 11:46:00 AM From: Blitz Read Replies (5) | Respond to of 11684
The outcomes of some other trading halts... Janice, thank you for the link. I looked into some of the companies, and what happened after they had resumed trading. It seems there are mixed results, from one company's stock dropping 100%, to another company's stock gaining 500%. I guess it all depends on if the company provides the requested info, how the SEC interprets the information given them, and how the investing public views the results of it all. Here is what I found: GEGP only dropped a small amount after resuming tradingThe Commission temporarily suspended trading in the securities of Golden Eagle because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the basis for Golden Eagle's claims of proven gold reserves on its Bolivian mineral concessions. On May 22, 1998, Golden Eagle, which purports to be in the business of developing and mining mineral property in Bolivia and is a defendant in a pending Commission lawsuit [SEC v. Golden Eagle International, Inc. et al., No 98-Z-1020 (D. Colo. May 7, 1998)], issued a press release stating that the company's independent geologist had determined that the proven gold reserves on the property exceeded six million ounces. The company also stated in the press release that indicated [and] inferred resources of gold on the property exceeded, respectively, 78 million and 157 million ounces. STRU cannot get a chart RMII went down a little after resuming, but then nearly quintupledThe Commission temporarily suspended trading in the securities of RMIL because of questions regarding the accuracy of statements concerning, among other things, the ownership and value of certain assets claimed by RMIL, RMIL s business operations and the merger of RMIL with third parties. Orlando Supercard: couldn't find symbol USPI: cannot find a chart LGSP: went from $6 to around $3 after resuming trading The Commission temporarily suspended trading in the securities of Legend Sports because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning Legend Sports' financial condition. Amquest International: cannot find symbol Combined Companies International: cannot find symbol HSPA: no chart available I think, if MTEI can prove their ownership of their assets and their valuations, then everything will turn out ok, and Mountain Energy will have a chance to prove to themselves, as well as their investors, that they are serious when it comes to building a successful energy company. I guess we will all know very soon... Good Luck to all Thank you