Jens, honestly, no company would buy FAMH at this point.
The 1997 financials were disastrous. How much would you pay for a company with little business, big losses, and millions owed in back taxes? I think I could find better investment vehicles, like slot machines. At least there you will average 90 percent of your money back.
Plus, nobody will take them over without audited 1998 numbers.
If a reverse split is in the offing (and the way things are going, it must be -- even if they let it get to 100 million shares first), it completes the Titanic-like trip this firm has been on.
Just think -- with a reverse split, losses per share would increase.
I think AA still has millions more shares than anyone else. But if he holds shareholder meetings, votes, etc., then he can try to pass himself off as "Mr. Fair and Equitable" to the shareholders -- and to the SEC when they come sniffing around.
Put on a happy face, Arif. You'll need it. |
