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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Richard V Davis who wrote (2938)2/8/1998 10:34:00 PM
From: JIN CHUN  Read Replies (1) of 27968
 
Richard, I think I'm the blame for this one. I talked to Rob at the Wall St. office on Friday. I don't remember verbatim what he told me but the feeling I got was that the actual audit of FAMH for '97 was delayed in process while their auditing firm was looking into the books of Myriad so that the acquisition could be expedited (not in stone, but my interpretation from the conversation). As far as their IT initiative is concerned, I trust your account since you've actively dealt with them recently. Not sure what to say in response, but the person responsible for those placements (Mr. Frantangelo I believe) was in the room while I was talking to Rob. I'll try to verify it later on my own.
----As far as the numbers are concerned, I agree with an earlier post that said an accurate analysis is speculation without the actual audit. An interesting note, although the D&B definition gives Return on Sales as equivalent to Net Margin, I've found more than one source that defines it differently as Gross. My personal belief is that there may have been many issues that can't be taken into account, even if Ira stated that the earnings were from recurring operations. Hopefully, we will soon see.
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