21Item 29. INDEMNIFICATION
Section 7.01 of the By-laws of the Fund (filed as an exhibit to Amendment No. 4
to the Fund's Form N-2) is incorporated by reference.
Item 30. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISOR
Not applicable.Item 31. LOCATION OF ACCOUNTS AND RECORDS
Except as set forth below, the Fund maintains physical possession of its books,
records and accounts that are required to be maintained by Section 31(a) of the
Act at its offices at 6180 Lehman Drive, Suite 103, Colorado Springs, CO 80918.
Also pursuant to Section 31(a) of the Act and Rule 31(a)-3 of the Securities and
Exchange Commission, US Bank, N.A., St. Paul, MN, maintains the physical
possession of certain accounts, books and other documents of the Fund in
connection with its services to the Fund as custodian.
Item 32. MANAGEMENT SERVICES None.Item 33. UNDERTAKINGS
Not applicable 22
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, and/or the
Investment Company Act of 1940, the Registrant has duly caused this amended
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Colorado Springs, and State of Colorado, on the
30th day of November, 1998.
COMBINED PENNY STOCK FUND, INC. BY: /s/John R. Overturf, Jr.
Registrant John R. Overturf, Jr.
President
Pursuant to the requirement of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.
/s/ Stan Pittman Date: 11/30/98
Stan Pittman Chief Accounting Officer
23
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
EXHIBITS
to
Amendment No. 15
on Form N-2
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACTOF 1940
File No. 811-3888
COMBINED PENNY STOCK FUND, INC.
(exact name of registrant)
6180 Lehman Drive, Suite 103
Colorado Springs, CO 80918
(Address of Principal Executive Offices)
24
EXHIBIT INDEXExhibit # Description
1.) Articles of Incorporation of the Fund are incorporated by reference to
the Form N-2 filed on September 24, 1983.
2.) Bylaws of the Fund, as amended, are incorporated by reference to
Amendment No. 2 of the Form N-2 filed on January 14, 1987.
3.) Voting Trust Agreement - None.
4.) Specimen Stock Certificate is incorporated by reference to the Form N-2
filed on September 24, 1983.
5.) Instruments relating to long term debt - None.
6.) Investment Advisor Agreement with Citadel Asset Management, Ltd., dated
September 30, 1989.
8.) Bonus, Profit Sharing, Pension or Similar Plans - None.
9.) Custodian Agreement is incorporated by reference to the Form N-2 filed
on September 24, 1983.
10a.) Transfer Agent Agreement is incorporated by reference to Amendment
No. 5 to the Form N-2 filed on January 28, 1989.
10b.) Fidelity Bond, as endorsed is incorporated by reference to Amendment
No. 4 to the Form N-2 filed on January 21, 1988.
10c.) Employment Agreement of Philip J. Halseide is incorporated by
reference to Amendment No. 2 to the Form N-2 filed on January 28, 1986.
10d.) Employment Agreement of Jack P. Phelan is incorporated by reference
to Amendment No. 2 to the Form N-2 filed on January 28, 1986.
10e.) Office Space Lease Agreement with Wells Mortgage is incorporated by
reference to Amendment No. 5 to the Form N-2 filed on January 28, 1989.
11.) Consent of Independent Auditors
14.) Agreement Relating to Initial Capital of Fund - None
15.) Model Plans - None 27.) Financial Data Schedule
25
EXHIBIT NO. 11
Consent of Independent Auditors
Combined Penny Stock Fund, Inc.:
We hereby consent to the incorporation by reference in this Amendment No. 15 to
Registration Statement No. 811-3888 of our report dated October 21, 1998
appearing in your 1998 Annual Report to Shareholders.
/s/ STOCKMAN KAST RYAN & COMPANY, P.C. STOCKMAN KAST RYAN & COMPANY, P.C.
Colorado Springs, Colorado November 18, 1998
EX-272FDS --
6
(Replace this text with the legend) 0000731266 N/A 01 N/A
1
U.S. Dollars
12-MOS
SEP-30-1998
OCT-01-1997
SEP-30-1998
1 1969425
1094395 0
0 23095
1117490 0
0 855
855 0
6070189 54561000
57361000 (2935955)
0 (1142569)
0 (875030)
1116635 0
32621 0
125383 (92762)
107951 (785587)
(770398) 0
0 0
0 0
0 0
(770398) (58350)
208042 0
0 0
0 125383
1524148 .034
(.001) (.013)
0 0
0 .020
8.23 0
0
|
