From another thread, seems to apply here:
Abusers are those that use a network of stock pals to gang up on a stock, long or short, for points. Usually well-funded and organized. They work as a gang at the MM level or on the internet or through Barrons or in combination of the above to move a stock for their capital gain, in mass.
Abusers can also be liars, who will start any misunderstanding or rumor to support their position in a stock to fuel the direction they want it to go. They will twist the truth or outright make thinks up, again the goal is to move the stock in their favor after positions
are taken in the stock.
In cyber space, abusers are also people who have no manners, and no sense of dignity or decorum. They thrive on shock value and waste reader's time. Their intent seems to be to attack personally to support their view to the point of being highly offensive to the
reader.
All definitions above justify their actions by saying *it is there for the pickings*, regardless of what havoc they reek.
Abusers haven't learned that age old lesson in life: What goes around comes around. They hurt many people at will along the way. Until they see they are really hurting themselves.
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For the life of me I will never understand the logic of those who still own FAMH and continue to bash it.....and for those who don't own FAMH, why are they here? I've owned countless stocks and once I sell I don't look back. I'd rather watch paint dry than continue to watch or post about stock I've already sold for whatever my reasons were....and I've got lot's of patience.
In my simple way of thinking, this is still what keeps running through my mind:
1. I still can't believe that someone who ran a company for nearly 20 years would go public and then take part in an absolute lie in a public news release about audited (by the previous auditors) net earnings of $0.1085 for 1997. If this is the case, I believe the SEC will put him in jail for it! YOU JUST CAN'T DO THAT!!!! Those publicly announced net earnings are the only reason I invested in FAMH. If this is such a lucrative business, why doesn't Arif simply do his thing with his staffing business experience and grow the business the legal way and make himself and all of us a lot of money?
2. Where did they get the $1 million down payment to pay the IRS for acquiring Myriad....they said that NO stock was involved. Did they put up stock as collateral for some kind of loan?
- As I recall, the "pro forma" statement that Ira released indicated they had quite a bit of cash at the end of 1997. Was that a lie too?
- I believe they stated they have never used any of their line of credit, and can't without becoming a reporting company with all the necessary SEC documentation filed. So the $1 million didn't come from there.
- It seems that Arif said he owns nearly 40 million shares, most of which is restricted. That indicates, to me, that Arif himself didn't sell shares into the open market to get the money. Yet, at the end of 1997 there were supposed to be only around 21 million shares outstanding. Let's say Arif owned 11 million at the time to control over 50%. That would mean around 10 million were in the float at the end of 1997. If that IS the case, WHO sold an additional 15 million or so shares into the open market???????? The float is now 24-28 million shares, depending on who's fax information from Arif you believe.
3. If the company is truly a scam, as some purport here, Why would Randy Malinoff take over as president, take a chance on ruining his career and take a chance on going to jail as a bonus?
4. If the company is truly a scam, as some purport here, why would Mike Sukey leave a job as a senior accountant with a division of a big 6 accounting firm, take a chance on ruining his career and take a chance on going to jail as a bonus?
5. If the company is truly a scam, as some purport here, why would they put up a fairly nice looking web site and say that in the future if information isn't on the web site or in a new release, it isn't official?
I'm totally mystified!!!!!! If these guys are all part of a gigantic conspiracy to take our money how stupid do they think we ALL are?
Bottom line.....I still it's possible that FAMH "should" be capable of actually making money (they aren't claiming a revolutionary cold fusion process you know), is NOT a scam and the stock price may be over $1 within six months. If not, I will be the first one to volunteer to LEAD the bashers here.
In the meantime, I don't pay a lot of attention to what ANYONE says here anymore because we are ALL just speculating!!! NO ONE really knows what is going on!!!!!
Dave |
