FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: lmw who wrote (865)	1/8/1998 10:06:00 AM
From: John Fairbanks	Read Replies (4) of 27968

Just a thought on the tax issue... do we know that it is a State tax lien? I was just told that there was a tax lien. My Dad is a CPA and in speaking with him he said that without any details he'd give a 99% probability that this was a federal payroll tax lien. He said this is nearly always where companies get into trouble. The money that is withheld from people's paychecks is used to cover immediate bills with the idea of replacing it later... only the problems that caused the money to be needed in the first place haven't been cleared up so they don't ever get the money put back... in this case, the corporate officer with the responsibility for this, say the treasurer, is PERSONALLY liable for the entire amount. If it was a situation like that, FAMH would have a lot of bargaining power. I know if I were a corporate officer facing that kind of problem I would take some preferred stock and the paying of the lien! Just a possibility...

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