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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: George C. Grasser who wrote (7994)	8/7/1998 8:59:00 PM
From: HRH	Read Replies (2) \| Respond to of 11684

OT...St. Louis 11, Cubs 3 STILL THE 1st INNING. ONE HOUR INNING and it's still going on.

To: George C. Grasser who wrote (7994)	8/7/1998 9:20:00 PM
From: Alastair McIntosh	Read Replies (2) \| Respond to of 11684

George, the suspension by the SEC is temporary and expires on Aug 11. The SEC does not have to lift it. The Securities and Exchange Commission today ordered the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 ("Exchange Act"), of trading in the securities of Mountain Energy, Inc. ("Mountain Energy"), beginning 9:30 a.m. EDT, on July 29, 1998, and concluding 11:59 p.m. EDT, on August 11, 1998. However, in order to trade MTEI needs a market maker to submit the 15c2-11 to the OTC compliance department of the NASD. edgar.sec.gov Al

To: George C. Grasser who wrote (7994)	8/7/1998 9:54:00 PM
From: eric deaver	Read Replies (3) \| Respond to of 11684

FWIW, I spoke to a gentleman at SEC Enforcement today. I wrote down his name and can't find the paper but it really doesn't matter. Here is the general idea of what he told me. The SEC has the right to suspend trading one time for two weeks. At the end of that period, an MM can only quote a price if he first indicates he is satified with the financials of the company. Evidently this is all the SEC can do to suspend trading. They can not impose a longer trading suspension at the end of this one or any thing else. Now the investigation is ongoing, evidently. At the end of the investigation, several things could happen. One thing might be an Administrative Order. One thing may be a lawsuit. It may also just be dropped. There are probably other things that could happen. He was hesitant to discuss a lot of contingencies. I specifically asked about the Administrative Order and specifically about "cease and desist" orders (it seems as if a lot of companies get these as a result of the SEC investigations). I said are these just the SEC telling them don't do this again and we will let you off and he said, "Yeah, that's about all they are." So if a MM can be found - which I know is a big IF. It is my opinion that unless there is more dirty laudery uncovered by the SEC, MTEI will not get the book thrown at them and can get over this investigation even if they did have errors in their PRs. Again, that is if all the SEC claims is that they misstated the value of their assets in the PRs. Take sometime to read some of the SEC Administrative Orders. Many of these companies are alleged to do the exact same thing and get simply a cease and desist order. This is of course only speculation on my part. FWIW, Eric