Dave,
For all we know that may be the correct scenario. Thats the risk/reward you get in the stock market, especially with a stock like this. However, I doubt all the "new" areas of business (Workman comp, Myriad, IT, new office, new aquisitions) will ALL be money losers and NONE of those are in the 97 #'s. Also the man has stated .1085 earnings for '97, so to go back on that would incur a nice lawsuit which I doubt Adam Arif would stand for considering he has 19M shares of FAMH.
Second and last, once again you may be dead right. However, about 3 months ago the board sounded similar to what it sounds like today.. actually even worse.. when the price just hovered between .25 and .34 for 6-8 weeks or so. A whole bunch of "what ifs".
Its easy to grow a business from the sidelines.
If you take out (1) Ira's decision to postpone 1997 financials, and (2) the O/S share #'s growth.. I am much much much more comfortable with what this company is doing and where it is going than I was 3 months ago.
From all indiciations, Ira knows how to grow a company. On the other hand, I dont know if his strategy pertaining to the stock price is the best.
I think one of the most important things to remember is Adam Arif had this business for 19 years; its not a start-up.. just a recently public co. Maybe all this "hype" is so he can sell his 19M shares "quietly" under our noses.. but that seems like a story more to Oliver Stone's liking than reality.
Mark |
