FAMH - FIRAMADA Staffing Services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Andrew H who wrote (2119)	1/28/1998 4:48:00 PM
From: John Fairbanks	Read Replies (2) of 27968

Andrew, I believe the answer to your question lies in the fact that the Myraid officers were 100% personally liable for the $1.5MM in debt because it was a tax situation. That's a pretty strong motivator. Besides, not only have they been let off the hook but they also have a stake in the new company. A Win/Win if I ever saw one! If you go back through the old posts you'll find it was stated several times that this was going to be an absolute steal because of the tax situation. If I were personally liable for the debt I would take this offer. My Dad's read on the situation long ago was that this was probably a case where they failed to pay payroll taxes and that the officers would be personally liable. I think we've proven he was right. If it were other kinds of tax problems they would not be liable. What this means is that these jokers were probably spending the money they were witholding from peoples paychecks... a VERY serious offence in anyone's eyes if you ask me...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next