FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: David Colvin who wrote (20097)	5/31/1998 2:03:00 PM
From: Little Engine	Read Replies (1) of 27968

Dave, a considered response to some of your points: <<<<FAMH in business MAKING MONEY for 19+ years (no jail time or civil suits for Arif>>>> Even FAMH does not claim to have been making money for 19 years. Point of fact: the balance sheet in the investors packet, released months ago, showed that (before they went public) FAMH had a negative cash balance and a good deal of debt. I don't think companies making money for 19 years, with only a few offices, would have such problems. <<<< o Arif decided to go public and expand the business. Somewhere along the way Ira Monas entered the picture (I don't know anything about how/why/when Ira came on board).>>>>> I believe, since the balance sheet reflected financial problems, that Arif went public merely to get out of debt. Who knows what Ira did before assuming the presidency? Good question. <<<<o FAMH acquired Myriad...WHY? I believe to dramatically grow revenue base>>>>> I agree. But what about growing profits? <<<<o FAMH obviously had the verifiable resources (cash or otherwise) to complete all the acquisitions so far. This tells me FAMH must have generated the money from past successful operations >>>> That is a HUGE assumption on your part. That's like seeing someone with a Mercedes on the street and assuming they make a lot of money. Maybe the car was a gift? Maybe they went heavily into debt to purchase it? Maybe they even stole it? One does not follow the other. To my eyes, FAMH "obviously" has trouble coming up with money to run/acquire things, so they issue a few million shares every few weeks to pay the bills. <<<<< o FAMH has cash from ongoing operations. Do they NEED to perform a scam in order to succeed? I definitely don't think so>>>> Without an audit, you have no way of knowing where cash is coming from, or going to.

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