<<<<By the way, that is very modest of you to claim that "you" were the one to make the company revise the figure. How many companies are off on estimates?>>>>
Jin, why do you continue to promote the fallacy that the third quarter earnings report was an "estimate"? They released the following press release on Nov. 24,over a month and a half after the third quarter ended. This was not a forward estimate. Rather a supposedly well-examined statement of fact from FAMH:
<<<<NEW YORK, Nov. 24 /PRNewswire/ -- Firamada, Inc. (OTC Bulletin Board: .... Furthermore, earnings for the 3rd quarter of this year were $.06 per share thus creating a YTD of $.12 per share.>>>>
"Were", as in "already happened", as in "we spent a month and a half working on the figures, and this is exactly what we made."
As in.... this was not an estimate. Not even presented as an estimate.
The chronology:
1) FAMH releases earnings of .06 EPS for the third quarter on Nov. 24, seven weeks after the quarter ended:
2) On Jan. 15 (almost two months later), I post a rebuttal of the supposed earnings, showing that there is no way Ira's figures could work
Message 3181583
3) Several thread members e-mail and phone Ira, asking him to justify the .06 EPS;
4) During the next week's conference call, Jan. 22, Ira says that third quarter earnings were .03, not .06. He states the .06 figure is only "internet rumors." He does not explain how the change comes about, nor does he apologize for it. He simply acts like that is the figure they originally came up with.
I am sure it was an incredible coincidence that FAMH backtracked on their earnings one week after I questioned them, which happened to be three and a half months after the quarter ended.
I am sure that they were just about to change their claims, and I barely beat them to it. Of course. Why didn't I think of that?
People believe his future projections, when he can't get the past right? |
