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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: JustMy2Cents who wrote (19433)5/27/1998 6:46:00 PM
From: JIN CHUN  Read Replies (4) of 27968
 
To all: I had a very good conversation with Arif today. I hesitated in posting the substance of our conversation as I had not asked his permission. In any event, some key points:
1)They are actively searching for an experienced CFO from a publicly listed company.
2)1997 financials were completed by the first firm. He is meeting with the CPA's tomorrow to make sure that everything gets out.
3)When the subject came to the actions of others, he reiterated that he is ultimately responsible since he is the CEO, and that it is his responsibility to clean up the mess. This attitude went over well with me at least.
4)I found that he has an understanding of the credibility issue and stated that pr's are no longer being written internally. He also stated that they are meeting tomorrow to discuss how to reduce the outstanding share count. One possibility that we discussed included cancelling a significant amount in his name, and issuing registered options to stem possible takeover scenarios in the future.
5) I stressed the importance of talking about these issues in the CC tomorrow, and he seemed to understand the necessity of the company to be forthright. Personally, I believe him.

Jin.
ps: JustMy2Cents. No CFA exam, an exam in finite state automata, fun stuff about 10 minutes away.
Redhead: double ditto's!
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