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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: DSPetry who wrote (12155)4/15/1998 7:20:00 PM
From: Little Engine  Read Replies (1) of 27968
 
<<<<During one conversation with Ira on AOL, he mentioned that ATRIX has 4 Million in "HARD ASSETS" which will go directly to the bottom line.>>>>

ATXI doesn't have $4 million in "hard assets," as anyone can see from their SEC filings.

At one point they did have about $4 million listed in assets, but a lot of those assets were pretty soft indeed (capitalized software expenses, accounts receivable, etc.). And if you are going to liquidate the company, you had also better pay off the outstanding debts, which are large.

As Dexx so kindly pointed out, the assets would be disposed of at "fire sale" prices. The cash and securities on hand would be needed to take care of outstanding debts. The short-term gain? Not much.

My guess is the whole company will be sold to the friendly ATXI stockholders who are pushing the deal, at a large discount as a "thank you". Why else would they be so eager to sell? The stock price isn't much higher now.

Ira would sell the whole ATXI operation at once because it is so much simpler that way. Not because of some personal conflict.

Today's press release hinted at FAMH needing to meet the initial Nasdaq requirements due to the nature of the merger, as I noted long ago.

Can't wait to see the PR onslaught FAMH comes up with to meet the $4 bid price they will need to get listed. One for eight, anyone?
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