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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: art who wrote (18740)5/22/1998 1:36:00 PM
From: Leroyt  Read Replies (1) of 27968
 
Share count (from FAX via Preferred Financial) by Arif

"The increase in the shares is due to restricted stock issued to
management, stock issued to buy Myriad and the Delaware operation and
additional stock issued to collateralize the 12 million-dollar line of
credit."

I spoke to Anna Love. This was prepared by Arif last evening and FAXed to some members of SI.

1. Stock WAS issued to Myriad. Ira did not tell us the truth from what I recall.

2. How many shares have been issued to "collateralize" the $12 million line of credit. At 0.33 per share, that's 36 million shares.

I personally would guess that the price per share is slightly higher. I think it may account for 30 million shares. But, how much of the credit line has been accessed? That would largely account for the jump from roughly 40 to 70 million.

I am posting this for informational purposes. Without a rational explanation of share count I cannot be very interested in this stock.

Continuing my research.

later, leroyt
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