Victor, by your comments you seem to be saying that shareholders get what whey deserve because this is only a penny stock. I'm sorry but I must disagree. Whether it's FAMH or Intel the directors and managers of the company still have a responsibility to tell the truth about the company.
In the case of Firamada both Arif and former President Ira Monas just simply flat out lied to the investors. Would I have invested more and more into FAMH at .50 to .60 if I knew that they had lost money in 1996, and were anticipating a loss for 1997? NO!, and no one else would have.
A lot of people (apparently Arif included) seem to think that investors in penny stocks are nothing more than gamblers, and are very greedy people who want to get rich quick, therefore "they get what they deserve." Some may be, but I looked at this company, listened to what the president and CEO had to say, and felt that I was being told the truth, finally I invested. I didn't expect to get rich, but I expected a fairly good return based on what I thought to be the truth. There is no way that you nor anyone else can justify company executives telling out and out lies.
As for a lawsuit, I think anything that would be gained from Arif Adam would be lost to attorneys. I can live with the fact that I lost my money as long as Arif goes to jail for securities fraud, which according to several attorney friends of mine was committed.
A lot of people think that Randy is the man to turn the company around, and he very well may be. If not for Arif being greedy and giving himself a several million dollar bonus at our expense the company wouldn't need turning around. The only way that I would have any confidence in Firamada is if Arif returned the ILLEGIALLY issued shares, and resign from the company never having anything else to do with it. THAT GOES FOR HIS DAUGHTER ALSO.
I can understand the company not making "as much" as .1085 because of a bookkeeping error, but to go from a fairly good profit per share to a huge loss per share is pure incompetence on everybody's part at Firamada In addition, Arif and Ira both said that no shares were issued for the purchase of Myriad then weeks later said shares were issued. That is a lie not a bookkeeping error. Arif knew it to be a lie, and still told it. I wonder how many shares Arif sold in the .50 to .69 range when he, Ira, Ledbed, et. el. were pumping and dumping?
Anyway, the point is no investor regardless of what company they invest in should be lied to or misled just so the management of said company can line their pockets.
Regards,
Regards,
Lonnie |
