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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Andrew H who wrote (2210)1/29/1998 2:03:00 PM
From: Tom Latham  Read Replies (1) of 27968
 
Got a minute to inject my thoughts on any co in this case FAMH and a loan re credit line... I was in a lawyers office a year or so back and he and his cronies traded cotton (not futures but cotton) with firms all over the world. In every conversation to any purchaser they had a LC (letter of credit) and with that LC the purchaser was given instant credit to their purchase. Most of these transactions were 1/2 million +. The point I want to make is never did the purchaser use his credit line from the backer of the LC, it in its legal stance provided the credentials for the issue of immediate credit worthyness to the holder. That is why FAMH or any one in business has to have backing IMHO.
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