I too am comfortable with this investment, and I am still holding.
I do agree with Little Eng that the 3rd & 4th qrtr EPS estimates .06 + .09=.15 are just not possible if the acquisition press release sales estimate ($8,000,000 - it didn't say "annual" but in the context it appeared to be)is accurate. .15x19,000,000shares=$2,850,000 earnings.
$8,000,000-6,000,000(1st&2nd qrtr per co. investor package)=$2,000,000.
$2,850,000 earnings greater than $2,000,000 sales?
If the audited finincials are inconsitent with press releases there better be an explanation!
However...
I believe part of this is due to previous PR firm (didn't impress me) either not questioning, or mistakingly calculating the numbers they were provided. I also see the tremendous growth FAMH is committed to in a growing industry, where the smallest companies have the highest profit margins and valuation multiples are in the 20s and 30s! If they can open/buy four more offices in 1998, and increase the focus on high end placements and financial services, revenues should increase substantially. But along the way they need audited financials (to get institutional investment) and a listing.
The Myriad acquisistion? Gravy. The increased revenue base will help get the stock listed, and increase the comfort level for many investors since it will be a bigger company.
The shares outstanding is now 24mil according to some posts. Subtract the float of 7mil and this allows 17mil shares avail. ($5mil.+) for acquisistions, along with the backing of Alexander-Westcott. I'm not worried about available resources, as long as they don't issue more shares for now.
We probably won't see the share price go as high as some estimates here, but I still see substantial increases as the acquisition and listing milestones are attained, and audited quarterly reports including revenues from new offices are issued.
finally... Please list the sources of data you present - don't just say "I've heard they have 20 offices", or "scuttlebut has it..." and leave it at that. Also - beware of frequent beligerent negative posters because they probably shorted and want the bash down the share price to cover.
Good Luck All!!!
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