FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: jffk who wrote (10836)	4/6/1998 6:32:00 PM
From: JIN CHUN	of 27968

jjfk, I'm fairly certain that Firamada would have had to show the IRS their books in order for the acquisition to go through. The IRS would have had to verify that Firamada was in a position to pay off the liens and to take over the company with good faith. Also, the negotiations for the acquisition of Myriad did not take place with the principals of Myriad, but with representatives from the IRS. Firamada bought the company through the government. On the point of strategy, it may be that they are being withheld because the impact of their release on this exchange would be minor as compared to when we get listed on the NASDAQ. I'm not sure, and it is just speculation. Others that must have looked at Firamada's financial condition and concluded that they were good include Wexford Capital. I personally do not think that Wexford would have approached, or continued with the negotiations in the merger if they thought that Firamada as a company was not doing too well. I just read Cheryl's post. It's much clearer. :-) Jin. In between classes on a unix dumb terminal.

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