FAMH GENERAL "OVERVIEW" INFORMATION:
COMPANY:
Firamada
40 Wall Street, 32nd Floor
New York, NY 10005
Phone number: (212) 425-2168 or Toll Free 1-888-831-2442
CEO: Arif Adam
President: Ira A Monas
PR FIRM: Preferred Financial Marketing 1-310-789-1132
INVESTMENT BANKER: Alexander Wescott (888) 776-8384
(Alexander Wescott is also one of the market makers in FAMH, so you can also buy FAMH shares directly through them. Call & talk to Mike Maddux.)
AUDITING FIRM: Marcum and Kliegman mkllp.com
SEC FILINGS: FAMH begins as a reporting company effective Jan 1, 1998. Their first filing is scheduled to be their 10K for 1997 and is expected to be done by Feb 1, 1998.
PR Newswire INFO PAGE: prnewswire.com
(This includes recent Press Releases)
E-MAIL: irafm@aol.com
TOTAL SHARES OUTSTANDING: Apx 24 Million (before "big" acquisition)
FLOAT: Apx 9 Million
SUMMARY of FINANCIAL STATEMENT: (Unaudited. Thru 6-30-97)
Message 2783503
(A detailed copy of this financial statement is available from the company)
1997 Revenues: (Estimated) $8.5 Million
1997 EPS: 12 cents thru 3Q. Estimated 18 - 21 cents for the year. (Unaudited)
1998 Revenues Projection: $75 - 80 Million
1998 EPS Projection: Projections are based on including revenues from the acquisition of Myriad Employment ($60 Million), 5 - 7 additional offices (either acquisitions or new offices planned for 1998). Firamada expects a growth rate of 23-30% which exceeds the industry average of 19-24%.
GENERAL BUSINESS INFO:
FAMH is a temporary staffing company. They currently have 5 offices.
Since several of the offices have been acquired, you may find them under the following names: Encompass Staffing & Success Staffing.
FAMH just went public last spring (1997), so this is their first year as a public company.
FAMH says their profits are considerably higher than the industry average because they stay away from the low margin business (low range bulk temps) and focus, instead, on the high profit end of the business (upscale permanent placements).
Firamada's finance subsidiary created in September showed a net profit of $73,645.25, in its first month of operation.
EXISTING OFFICES:
Encompass Staffing
67 Wall Street, Suite 2411
New York, NY 10005
(212) 269-4777
Encompass Staffing
2730 North Stemmons Freeway
West Tower Suite 1210
Dallas, TX 75207-2256
(214) 688-0711
(888) 523-9962
Encompass Staffing (New office opened in November, 1997)
10850 Richmond Ave
Houston, TX 77042
(713) 334-5665
Success Staffing
602 W 6th St., Suite D
Rolla, MO 65401
(573) 368-5782
(888) 368-5782
Success Staffing
3020 E Camelback RD, Third Floor
Phoenix, AZ 86016
(602) 955-6657
(888) 956-6657
PLANNED ADDITIONAL OFFICES (New & Acquisitions):
Currently, FAMH is negotiating to acquire Myriad Employment, a private company with 21 offices located in California and Utah. The company says Myriad did approximately $60 Million in revenue for 1997. This acquisition is scheduled to close by Feb 1, 1998.
LONG ISLAND, NY - New office planned to open in late January, 1998.
MIAMI - New office planned to open early February, 1998.
CALIFORNIA - Acquisition of another company (in addition to Myriad) is in process. This acquisition is waiting on a probate court hearing in February. This acquisition is entirely separate from Myriad Employment.
FUTURE LOCATIONS CURRENTLY UNDER CONSIDERATION:
California, Utah, Colorado, North Carolina, Las Vegas, Pacific Northwest
NASDAQ LISTING APPLICATION:
FAMH says they currently meet ALL the requirements for listed as a NASDAQ Small Cap company with the exception of share price. The application process for this is supposed to begin sometime January, 1998. The process is supposed to take 90 to 120 days.
OTHER INFO:
Temporary staffing is a hot industry. It is also a highly profitable industry.
CLIENTS:
Some of their recent contracts have included Arizona State University, Arizona Cardinals Football Team, Colonial Insurance Company, Coca-Cola Merchandising - Phoenix, AIG Insurance.
FAMH IS DRAWING ATTENTION:
ED TAXIN'S FINANCIAL HOUR has picked FAMH (Firamada) as one of the "Top-10 Stocks to Watch in 1998." "Ed Taxin's Financial Hour" is on 32 radio stations across the country. The company said this was NOT a paid promotion.
KOSTECK RESEARCH has rated the company a buy up to $1.25
FAMH "Investor Awareness" promotions will be carried on 85 cable TV stations, in-flight talk on United Airlines & TWA, and the Morton Downey Jr Invest America TV Show begining in January-February 1998.
Conference calls to Brokers & Fund Managers will be conducted most Thursday afternoons in January at 4:15 PM (EDT). The "replay" of this call can be heard by calling 1-800-567-1533 for several days after each live call.
POINTS FROM EARLIER POSTS:
"Contract Employee is crucial in all business today as I see many firms and the Government using staffing for many more projects as they are started." - Jim, post #70
"...executive placement which is REALLY profitable." - John, post #72
"Labor shortages will remain a big headache, with many managers particularly worried about the lack of qualified help. More firms will hire temps and lease workers,... a booming business. Let's managers concentrate on their core business while outside outfits handle the hiring, firing, payroll, insurance and job training chores."
The Kiplinger Washington Letter ---- Nov 14, 1997. - post #228
"I saw a news show on TV a month or so ago that indicated that the US work force is starting to change drastically. I don't remember the numbers exactly, but it was an extremely high percentage (like 50% to 70% or so) of the working force over the course of the next 5 to 10 years would not be working regular full time jobs. They would be
working either for themselves or working temporary jobs. People are wanting to become more flexible in their employment." - Cheryl OD, post #235
CURRENT QUOTE:
cbs.marketwatch.com
CHART:
tscn.com
HISTORICAL PRICING: (Type "FAMH" in the Symbol box)
tradepbs.com
INSIDER BUYING / SELLING REPORTS: insidertrader.com
INDUSTRY COMPARISON: Message 3043512
This information is provided just as reference. Everyone should do their own research before investing.
Best wishes,
Brad |
