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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Zebra 365 who wrote (5810)3/12/1998 12:20:00 AM
From: Little Engine  Read Replies (3) of 27968
 
Presenting FAMH, the almost company...

Zebra, good questions... I have seen it posted that the $12 million "line of credit" will: A) be drawn on soon, and B) will be backed up by new shares of stock, while C) Ira now claims there will be no more dilution. How do you issue more stock without dilution?

At first, I thought that they had perhaps decided not to draw on this source of funding, but then I saw the ad FAMH placed in Monday's IBD, in which the company promoted borrowing the $12 million front and center. So I guess it's on.

Everyone here seems to assume lots of 1998 revenues from Myriad, though it hasn't been acquired yet. At best, there won't be any first quarter revenues from it.

The Myriad purchase is "almost done." The audit is "almost released." The Miami office is "almost open." Morton Downey is almost healthy.

Delay upon delay... the "audit coming in a few days" becomes a few weeks... Does anyone else get the impression that FAMH is buying time here?

The one thing they do with lightning speed is issue millions of shares of new stock (up to 40 million shares now, twice as many shares as the audited financials will be based on).

I'm sure the offices look stunning. It's the other 7/8 of the iceberg I wonder about.

Trusting my eyes, not bogus press releases,
L.E.
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