Well back home today....
Maui was "nice" as usual... great place to lay back....
See this is still hovering around .20's.... why? I don't know... especially when you read things like this
HOUSTON--(BUSINESS WIRE)--Nov. 22, 2002--
"...Rocky Mountain Energy Corporation (OTCBB:RMEC), an emerging developer of proved oil and gas reserves in the resource-rich Rocky Mountain region, announced today that it has settled the litigation involving its shares with certain defendants in the case entitled Rocky Mountain Energy Corporation vs. Sal Russo et al, Case No. 2002-54461, in the 113th Judicial District Court of Harris County, Texas.
The company reached agreement on recovery of 5.9 million disputed shares with Sal Russo, SOS Resources, George Malina, Consolidated American Energy Resources Inc., Regent Consulting and Consolidated American Finance Services Group LLC. The parties mutually released each other from any future liability.
"We wanted our shares back and we accomplished that. We wanted this suit over quickly and accomplished that. The object of the dispute thus being rendered moot, we were happy to avoid the vexation and expense of further litigation after only 27 days of filing as being in the interest of our shareholders," said John N. Ehrman, president and CEO. "We intend to concentrate on our fundamentals now that this is behind us which is bringing gas out of the ground to add to earnings. As such, we are glad this matter was cleared up as quickly as it was, and speaks well of the intentions of the parties involved. The shares being back in our possession should help restore some confidence to the market."
Mr. Russo, on behalf of SOS Resources and Regent Consulting, as well as Mr. Malina for the Consolidated American Companies, stated, "We join RMEC in the suit remaining against Mr. Brooks, Marathon Corporation USA (Hutchinson, Kansas) and Horst Danning (Hollywood, California), and support their decision to continue the action against them. We therefore look forward to cooperation with RMEC."
RMEC will continue its suit against Brooks, Marathon Corporation USA (no relation to Marathon Oil Company or subsidiary of USX) and Danning for the balance of the relief sought.
Well, considering that out of the 31 Million shares that were in the O/S... 14 Million held as 144 restricted stock...
5.9 Million to be returned... out of 17 Million.... Leaves 11.1 Million Shares that will be in the O/S....
When Marathon gives up the rest of the shares (2.1 Mil), it should make it 9 Million in the O/S....
The company has already stated that it will buy back 8 Million Shares!!!
What is so complicated with that math? 9 Million O/S minus 8 Million Share Buy Back leaves how many left in the O/S??? Duh.... You don't have to be a rocket scientist to figure that out... or do you???
They are also giving a 10% dividend to shareholders as common stock?.... Man... does it get any better than that or what?!
Watch what happens when the cusip changes.... LOL... MM's are gonna freak!!! The SEC will slap their hands and tell them to pay up.... buy those naked shorted shares at market price and no manipulation or else....
The time is right and chart says at the end of the month is a major pressure point.... maybe with all this news coming in, it just might pop this puppy up!
Anyway... glad to be back... only 400 emails to go