Cheryl,
......I had a conversation with Ira Monas, president, Firamada, earlier this afternoon. We discussed a topic that has been seriously questioned, a number of times, by several people; the subject of Gross Margins vs the net earnings and EPS.
......Mr. Monas gave the NY office as an example (obviously, other offices will vary), he indicated that in '98, the NY office will generate $2.5 million in sales, at a gross profit of 41% (that is correct), and that the FULLY DILUTED EPS (from the NY office alone) will be $0.0265 Per Share (that's rather specific, but he was reading from notes of his own calculations).
......Mr. Monas also mentioned that the financing division seems to be ignored, as a substantial contributor to profits. He wants us to remember that this will be an important part of the profit equation.
......Yesterday, we discussed another subject that I did not post, and that was a "Reverse Split", in order to achieve listing. At 11:24 AM, on 2/3/98, Mr. Monas said, "A reverse split WILL NOT HAPPEN". He went on to indicate that he intends to do nothing foolish, just to obtain an early listing on either exchange. I believe that others have posted this same information, but I continued to read speculations, and thought it best to double check.
......In my personal opinion, it is my belief that we have found the best value possible, in a penny stock.
......I'm long on FAMH. Have fun with your investments.
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