FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: Mark[ox5] who wrote (1259)	1/14/1998 12:42:00 PM
From: Omnichrome	Read Replies (3) of 27968

The news release only announced a Letter of Intent (despite the misleading headline). There was a previous post saying a price had to be determined by 1/15. So Ira is now working on an offer. If it is a losing proposition, the deal doesn't happen. It is not unusual for a deal to fall through after a Letter of Intent has been tendered. It is embarassing (I would think) to publicly announce a Letter of Intent and then not follow through. But that can be overcome by a statement like "our due diligence uncovered factors which would negatively impact our company and shareholders and we had no choice but to abandon this acquisition". Best regards and be careful out there.

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