FAMH - FIRAMADA Staffing Services Message Board

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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services

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To: Fitz who wrote (24892)	10/16/1998 9:10:00 PM
From: Little Engine	Read Replies (3) of 27968

It looked to me (I'm no accountant) that the "reserve" statement merely meant that it was counted as a liability, and that they acknowledge they must pay it back at some point. It's $1.5 million of future net income that the company will never see -- assuming it survives. They certainly aren't making money from ongoing operations, with a gross profit of only $190,000 before subtracting $1.5 million for S/G/A expenses. "Travel and entertainment" expenses of over $150,000... Ira sure enjoyed himself. P.S. to Traveler... what if the stock went to Arif's daughter? Would it have to be mentioned in the audit then? Who was buying stock for a few cents a share? I'm curious.

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