FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: Cary C who wrote (564)	12/29/1997 10:39:00 PM
From: John Fairbanks	Read Replies (2) of 27968

Cary, my investment group owns more shares of this company than probably anyone else on SI. Because of that I am in pretty constant contact with the company because we need to protect our investment. The way I see it is that the only way there can be trouble here is if the company has falsified their press releases since we have press releases publically stating earnings of .12/shr for the frist 3 qtrs. They'd have to lose a lot of ground to wipe that out in the 4th qtr. Both the company and Alexander Wescott claims the EPS numbers are fully diluted on the 24MM shrs outstanding, at least for 3rd Qtr. So let's say for a minute that they aren't fully diluted and they lose money 4th quarter... good enough worst case? Let's say they only make an EPS of .02 for the entire year. I think a stock price of .30 is completely justified at those levels. I am inclined to trust the company. Not only have I visited an office for myself and verified that the business is in fact real, but I have had enough contact with the people involved to feel good about them. If they want to wait to get the financials out to me that's fine. I don't agree that it's the best thing either, but since they are currently unaudited they really don't hold any more credence than the press releases if you think the company is lying to you. As to the funds that are interested, I have posted the names of the two funds which have ALREADY bought the stock, and I know of a couple others who are looking at it, one of them overseas. I am told there are others but the names of the prospective investors cannot be released. I am content to wait and see what the company does. If they've lied, then they'll go to jail and any money they made from my group won't be a lot of consolation. If they haven't lied and they are doing all they can to make my investment worth while, I am content to wait. I do appreciate your concerns and I think they would be lessened if you visited one of their offices and saw it was all for real. -John

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