Mackie. I've watched your antics for a while now and based on them I'll put a label on you and that is one employed by a Market Maker to create mayhem in whatever way necessary to generate fear and panic amongst current stockholders. Objective; Pick up cheap shares.
If that's what you do for a job, good luck to you!!!
How many shares is it that you own of FAMH? How many posts did you make to this thread during the 35 minute conference call this afternoon? I do not have an exact count, but at least seven.
If you don't own any shares, you listen live to the CC and post that many times in a 35 minute period, what real job do you have?
This post is an attempt to rationalize for myself and others why you behave the way you do and to look at what happened today through a diferent pair of glasses. If you own stock, you are adopting an approach that will, if others listen to your ranting, reduce its value. Why would you want to do that? If you don't own stock and are in the employ of a MM, then your behaviour is exactly what one would expect.
Let's analyze the situation:
1. Yesterday the company announced that Ira Monas had resigned due to poor health. Whether this is the case or not, is beside the point, Ira is gone. You and I certainly know that in corporate America we try not to air dirty laundry when announcing the departure of senior company executives.
2. That same day, the new president and the CEO explained as best they could the situation and promised to answer stockholder questions today. For a first attempt, they got a passing grade.
3. Today, just 24 hours later, they answered questions, probably too many but answer them they did. As it happens, as I listened to them, I realized they were going through the list that I supplied (see my post 18330). No big deal, but it made it easier for me because I knew what was coming next.
4. Let's take the questions one at a time.
They skipped question 1 (I would to under the circumstances).
On question 2, they stated, not Ira Monas, but Randy and Arif stated, that the financials would be submitted to EDGAR by May 29, 1998.
They stated that the filing with the SEC would be soon after the EDGAR filing, but the exact time they did not know because they had not had time to talk to their lawyers and accountants. That's sounds reasonable, doesn't it? Remember this is Randy and Arif, not Ira making the promise. They still have a track record to establish!!
Third, they were asked if the EPS for 1997 would be in line with the number previously released by the company, which you and I both know is $0.1085, but was not stated in the CC. (However, it's clear to me that Randy and Arif both know what the number is because they are referring to my questions) The answer is yes, in fact it will exceed that number. Did you catch that, it will exceed. Mackie is that good or bad news for those who own stock in this company? IT'S REAL GOOD NEWS ISN'T IT. I don't recall a post from you on this point!!!
They did not elucidate on the term financials. I wish they had, but all I can assume at this point is that it will be the 1997 balance sheet and income statement.
BOTTOM LINE: You rant and rave about the company promised this on the financials and they repeatedly didn't deliver. You're right, they didn't and if you read my post 17953, I said the same thing; however, I did it in such a way that senior management might listen and take action. Until they prove otherwise, I'll assume that is what is happening.
If you don't own the stock why would you rant and rave? If you do own stock, why do you act this way? They are not going to listen to you.
The next item was the number of shares outstanding. Arif Adam was walking on a lind mine and didn't know it. We thought he had posted a few days ago that the total was 48 million. Low and behold, he came out with 70 million. Yes, I like you could not believe what I was hearing. You choose to rant and rave then, and still yet this evening about 70 million shares and this company is going south!!! On what basis?...... Mackie emotion?
I do not like the 70 million number any more than you do, it was a major surprise, don't get me wrong. Had never heard a number like that before. Had heard numbers repeatedly from Ira Monas that it was in the mid 40's range and then we had a post, we thought from Arif Adam, which stated 48 million. Well let's look at this for an hour or two, is Ira still in the employ of the company? No!! Did Arif Adam post the message to the board that it was 48 million, probably not!! Who did, I don't know. Arif Adam is not without a brain. He would know that if he posted 48 a few days ago and used 70 today, there would be exceeding upset amonst the troops. I didn't sense that at all from his manner and demeanour today. Did you? Probably not, you were posting flaming messages to the board so you probably missed those subtelties.
So we are left with a conundrum. It's 70 million outstanding with 28 million in the float. Where did these extra shares come from and what were they used for are questions for tomorrow.
What does the 70 million mean? To you in your post, it's simple, FAMH is going south. For how long you don't say and you don't define how far south, and as I recall you had little time to do any calculations but that's your style, rant and rave, stir up the troops.
If we take Brad's profit projections, Brad is one of these cool/calm analytical guys that you choose to flame when it srikes your fancy. I like his rational approach frankly!!!
Take out Morton Downey and do not add in the sale of Atrix assets from his post of 4/17 (12714) and we are looking at $9.2 million pre-tax, or $5.52 million after tax. If we believe Arif that the number of shares outstanding will not increase through the end of 1998, except for additional acquisitions, which will add to net income, we are looking at 8› a share.
What P/E do you want to use, 10? 17 (the lowest for any other company in this business), or 25? Whatever, the price range for FAMH stock is 80› to $2.00. How many companies make money on the OTC:BB? Do you remember that one? It's a very small number, right!!!
If we had a rational market and market makers were not making money the old fashioned way by praying on fear and panic, this stock should be going north!!!!
Atrix is off. That means we are going to get listed on NASDAQ aways down the road.
You did not want to hear about Mr. Malinoff's background. Another one of your flaming posts, as I recall. Well I did. It's important to me to know who this new president is. He's married with 2.5 kids. A graduate from CSUN. I lived right around the corner from the campus. Great State school with a great school of business. Lots of students, a real rat race to graduate. He did it!!! Played some pro golf. Do you know what I know about golfers (you probably don't care), most are gentlemen, they don't cheat and I know when you are trying to get your card, it's real tough to stick it out!!! I like all this about our new president, sorry it bored you to death!!!
We are going to get a CFO within 90 days!! He/she will be responsible for investor relations in addition to his/her responsibilities as Chief Financial Officer. This is great!!! No more operating guy hype (ala Ira) on the critical "nuts and bolts" stuff. Bean counters are just like engineers with money. They love the detail. Guarantee you with this individual on board, we would not have any of the "gaffs" that we had today.
Mackie, I see the glass half full, you see it half empty and draining fast. Then if you don't have any shares, why stick around, it's history as far as you are concerned. Oh, I forgot, there's the MM connection you have. Now I understand.
The future for FAMH is a lot brighter today than it was just 2 or 3 days ago. At $0.33, it's steal, why don't you buy some, you'll be able to make some money.
GO FAMH.
Looking to bring FAMH Value, Dick |
