FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: Pascalle who wrote (10391)	4/3/1998 1:44:00 PM
From: Little Engine	Read Replies (3) of 27968

<<<Will add 3 million in cash>>>> First of all, during the call Ira said the company would add $1.6 million in cash... then said $3 million in cash....which... and how? ATXI's 10QSB in Decmber showed $963,610 in cash as opposed to over $1 million in liabilities (after accounts payable, which matched accounts receivable, were taken out). Also listed were marketable securities of $547,000... since they were accounted "at cost," who knows what they are worth now. The filing also showed that they were bleeding cash... who knows how much they have left at the moment? If they quit paying the bills, and the securities are worth the same amount... then I guess you could claim $1.6 million in cash. Could they just keep the cash, while selling the company's debts and inventory to another company? Such a deal. How much will another company pay for a marginally profitable concern, while assuming $1 million in debt? Financials swept under the rug as usual...

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