THE ELECTION IS VALID
On July 15 these seven people professed their Faith. They then declared the Papacy vacant and that, acting as the Universal Catholic Church, they would begin a Papal Election on the following day.
On the morning of July 16, eight people gathered, two minors and six adults.  (The minors did not vote)  They proceeded to a Papal Election and David Allen Bawden was elected as Pope Michael, who replied: I accept this terrible cross.

Further information can be found here.

Summary of the Papal Election Verified

© Copyright 2009
The Papacy was vacant. 
Angelo Roncalli was an heretical usurper
More proof can be found here
His successors were also heretics.
Therefore on July 16, 1990 the Papacy was vacant.
A book was written to demonstrate this fact
This book was sent worldwide to ever sedevacanist in the world in Radko Jansky's Traditionalist Catholic Directory. 
Election Update finalized the plans for the election.
Summons were sent to subscribers and anyone who had expressed interest in electing a Pope.
On July 13, six people were gathered near Belcue to finanilize the election.  They were joined by a seventh, who left immediately prior to the actual election.