FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: CO who wrote (233)	12/1/1997 9:48:00 AM
From: Cary C	Read Replies (3) of 27968

Hello Cheryl, I saw your request from Doug on the 56 thread to do a TA on FAMH. I participate in research on those threads and decided to do some research on FAMH. It definitely got my curiosity up. The biggest problem I had was that I couldn't find anything wrong with this stock. The part that kept bothering me about that was the old saying " if it sounds to good to be true, it normally is ". Everything on the surface appeared to be great and I couldn't find anything wrong. But it still bothered me so I made some phone calls. First I called Robert at World Vision Financial. He said that he spoke to you often. He couldn't really tell me anything that I didn't already know from researching or reading the information that you had mostly supplied on this thread. The one thing that I found very odd was that instaed of talking to me about FAMH he was telling me that I should look at another stock that his company was carrying. Not bad just kind of odd? I asked him if he could supply me numbers for the 3rd quarter instead of just the earnings per share. He referred me to the investment banker who in turn suggested that I speak to Ira Monas the president of FAMH. The following pertains to my conversation with Mr. Monas and what really bothers me. 1. Mr. Monas said that they did about 1.7 million in revenue for the 3rdquarter. I asked him if this was the case how could they have made .06or about 1.3 million in income on 1.7 revenue?? He told me hat the figures for the first two quarters should have been .09 not .06.And that they would have to issue a correction. This confuses me since the numbers show that it should have been .066. As of yet I have seen no such correction and I don't think it is forth coming. 2. I asked him how things were going for the 4th quarter and he said very well but that it was IMPORTANT TO REMEMBER THAT THE FOURTH QUARTER WAS ALWAYS THEIR SLOWEST QUARTER. A question for the people on the thread. If the fourth quarter is always the slowest, how can they make .09 when they only made .06 in the 3rd on supposedly 1.7 million in revenues(which by the way would have been lower than the avergae revenues for the first two quarters)? 3. Asked him about becoming a reporting company and he said without a doubt before the end of the first quarter. This would be great because at least we would hopefully have audited financials to look at. He also told me that they would be applying for NASDAQ listing by then. 4. In regards to the NASDAQ listing he told me he was aware the requirements and didn't see the company having any problems including the $3 stock price. When I asked him how he saw them handling the stock price issue and that the only way I saw them being able to get there would be to do a reverse stock split he simply replied that the only way he would do a reverse split would be that if he had wallstreets backing. When I asked him how he would do it otherwise all he could tell me was that he wasn't worried and that he was sure the stock price would be there from the companies merits. I don't see how that will be possible by the end of the third quarter especially if the 4th quarter is going to be slower than the 3rd which was slower than the first two(on average). 5. I asked him about the supposedly two funds that bought 1 million shares. He said that he didn't know if he could give me that information because micro cap funds like to remain hidden. That might be true, but it was the first time I had heard that. When I pressed him he said he would find out for me. I'm still waiting. 6. I asked him how the assests and liabilities looked in regards to the first two quarters numbers that were supplied. He said obviously the figures would have improved. When I explained that that wasn't necessarily the case and gave him several scenarios, he said he didn't know what the numbers were, they were being printed and that he would send me a copy. I'm sure that Mr. Monas is very busy. The above are reasons why I decided not to invest in FAMH. This companymight end up doing very well. Afterall they supposedly are making money(until I see audited financials I wouldn't assume anything from thiscompany) Its price is low (why). How many times does the small investor beat the big guys? I hope it goes through the roof for everyone that has bought. The above was simply food for thought, maybe it will help some, maybe it won't. Good luck to all Cary

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