FIRAMADA (FAMH) - New 2-19-1998 - RESEARCH Posts ONLY! Message Board

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Microcap & Penny Stocks : FIRAMADA (FAMH) - New 2-19-1998 - RESEARCH Posts ONLY!

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To: Brad who wrote (51)	3/23/1998 12:43:00 PM
From: CO	Read Replies (1) of 65

The news on FAMH was picked up by Reuters. In my opinion that is a good sign. Here is Reuters release: biz.yahoo.com Monday March 23, 11:36 am Eastern Time Firamada sets proposed merger exchange NEW YORK, March 23 (Reuters) - Corporate staffing company Firamada Inc. said Monday the proposed rate of exchange with its as-yet-unnamed merger partner is four of its shares for each of the other company's shares. Firamada said earlier this month that it was in talks for a reverse merger with a Nasdaq-listed company that would allow Firamada to be listed on Nasdaq. Firamada said in a statement released Monday that it has 40 million shares outstanding, and the other company has 1.41 million shares outstanding. Brokerage warrants will be issued based on the total number of post-merger shares at 4.9 percent, meaning the total brokerage warrants would equal 559,282 shares, Firamada said. Firamada said its 1997 revenues will be the sole basis for calculating the post-merger EPS. Based on its pre-merger EPS of $0.1085 for 1997, and the proposed 11.97 million post-merger total number of shares, the new EPS calculation for a NASDAQ-listed Firamada company would be about $0.36. The company said the relative share value using this new EPS would be the 1998 EPS of $0.36 multiplied by an industry multiple of 25, or a share value of $9.00. Firamada said it anticipates ''completing this merger soon.'' It said it was unable to release further details at this time. More Quotes and News: Firamanda Inc (OTC BB:FAMH - news) Related News Categories: US Market News

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