Some observations:
<<Firamada's Director of Investor Relations, Michael Sukey, issued this statement: ''This meeting of shareholders is vital to managing the corporation. A favorable vote on the issues before us will create flexibility and strength in the company in order to compete in the industry. Under the present structure, the company may find it difficult to operate as a public entity.'' >>
-Just my interpretation, but sure sounds to me like the company needs still needs equity pretty bad and is intent on raising it one way or the other. I have a sickening feeling that I know what's coming now.
<< Shareholders will elect five directors while expanding the board's powers, adopt restated Articles of Incorporation, ratify the appointment of Merdinger, Fruchter, Rosen & Corso, P.C. as independent auditors of the company to serve for the fiscal year 1998, and to transact other pertinent matters. >>
-Okay, so who is the majority shareholder? I suppose it's good manners to ask for our support anyway; but after everything else that's transpired, why bother? . Spare me....
<< Our auditors are completing pro forma revenue figures for 1998 and projected revenue figures for 1999, which are to be released in one week. >>
-Sorry, but revenue doesn't mean squat. What matters is profitability and I see we're not going to touch that one. To be fair, any figures, however meaningful or meaningless, would have to be pro-forma. Audited numbers would not be available until completion of the annual audit.
Somebody shoot me.... |
