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Jonathan, I thank you for your enthusiasm regarding FAMH. Indeed, you have been busy. I must, however, respond to you by saying that nothing in the conference call even implied listing by the end of this quarter. Ira said that they had everything but the minimum share price in place, and that their SEC attorneys were considering the options of either an AMEX or NASDAQ small cap listing. I do not believe that he said directly "listing by the end of 1Q '98", although I could be wrong. Also, I personally do not believe that they will earn .30/share this year without the Myriad or other acquisitions. Don't get me wrong, I am entirely bullish on FAMH, but I believe that a more conservative figure would be around .15-.20 eps with the current share count. I also reiterate Cheryl's comments on further share dilution. If it were necessary, it would not bother me if they were used to acquire profitable companies. Also, Ira has never mentioned actual dilution for acquisitions, only a possibility of one in the future and has stated to more than one person on this thread that funds for the Myriad deal were already in place. Personally, I believe that they have decided to focus on this one particular deal before moving on to some of the other acquisitions that have been mentioned, mainly Tech Support. This is good, IMO, because I would prefer them to take "baby steps" as opposed to overextending themselves. I do believe, however, that the Myriad acquisition gives them not only a cash source for further acquisitions, but also an opportunity to expand Myriad's current client base to their current divisions, and vice versa. For me, everything is falling in place to move Firamada onto a bigger exchange, and I agree with you that they will indeed be given a fairer PE once that happens. I personally hate the exchange that they are on and if anyone has a petition for me to sign for legislation to extend the NASD rules to the OTC then I would gladly sign it and even volunteer. We only have a short amount of time, IMO, before the audit is released, until then, good luck to all. Jin. |
