FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: arif adam who wrote (17113)	5/12/1998 5:35:00 PM
From: Little Engine	Read Replies (4) of 27968

Revisionist history continues at Firamada... <<<We are also completing an Audit of Myriad and Financial recruiting and Consulting.>>> Apparently, they did not do an audit of Myriad before they bought it. So how do they know how much money it is making/losing? Whatever happened to "we won't buy Myriad without an audit"? <<<the financials will be out on Monday, the 25th of May>>> Last time they were supposed to be released on a Sunday... now a holiday... next stop Labor Day... <<<...to secure a line of credit. This line of credit has enabled FiraMada to acquire Myriad and Financial recruiting and increase our revenue base for 10 Million to 60 Million>>>> Hmmmm.... whatever happened to the oft-repeated statement "FAMH hasn't touched its line of credit yet"? Both by Ira and people here who have spoken with him? And the company revenues just slipped to 60 million... I guess that is correct... Arif should know. So if the cash on the "balance sheet" they issued is not mostly from earnings (at the most, $1 million), and not from share sales, where did it come from? And if they actually had $2.8 million on hand at the end of 1997, why use the line of credit to pay the initial $1 million IRS payment? Stranger and stranger....

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