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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Jonathan Lebed who wrote (1756)1/22/1998 11:19:00 PM
From: Roo  Read Replies (1) of 27968
 
<I don't know if Ira is considering a reverse split. If he is...that will be great!!! Why? A 10 for 1 split (considering FAMH will be trading at $0.50) will get us to $5. We will then be listed on the AMEX.>

Jonathan -

This is not a flame, just want to temper the enthusiasm for a reverse split with a reality check here.

In my experience, reverse splits and the OTC market are like red wine and fish... They look good on the menu, but ohhhh! what happens after dinner... it all goes down the toilet. IMO a reverse in the BBs is like an open invitation to get shorted to death by the MMs. You end up where you started or even lower (depending on how many investors bail in panic during shorting) but with a much smaller float and a really pissed off investor base. I don't disagree that this could work if we were playing on one of the legit exchanges, but out here in the wilderness it's "the kiss of death."

All my opinion, and as I stated in opening, not intended to flame.

-R
P.S. Would clearly prefer FAMH reaching $5- on strength
P.P.S. I believe there is an alternate qualification criteria available for listing on the NASDAQ smallcap that requires a $3 bid for 30 days plus other (unknown to me) conditions to qualify.
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