I believe Wayne and Trader J, both have another award to post. . .but meanwhile. .
. . . presenting this award on behalf of everyone THAT EVER SHOUTED ONLINE . . .BUY THIS NOW . . .IT'S YOUR LAST CHANCE . . .HURRY . . IT'S GOING TO THE MOOOOOOOON.
For the MOST HYPED STOCK, the Scammy goes to Jim Chellis for presenting FAMH
FAMH Firamada has got to be a nominee. False press releases, incredible hype,
over 25,000 posts on SI alone! Here, check it out:
Subject 18031
SHAREHOLDERS FILE PETITION FOR RECEIVER.
I cannot think of anyone more appropriate to inform that we, the shareholders who paid hard earned $ for FAMH stock, have filed in Harris County for the appointment of a Receiver to take control of Firamada. This excludes WalterTx and his followers, at least for the time being.
Under the Texas Business Corporation Act: Article 7.05 Appointment
of Receiver to Rehabilitate Corporation, it states:
A. A receiver may be appointed for the assets and business of a corporation by the district court for the county in which the
registered office of the corporation is located, whenever
circumstances exist deemed by the court to require the
appointment of a receiver to conserve the assets and business of
the corporation and to avoid damage to parties at interest, but
only if all other requirements of law are complied with and if
all other remedies available either at law or in equity,
including the appointment of a receiver for specific assets of
the corporation, are determined by the court to be inadequate,
and only in the following instances:
(1) In an action by a shareholder when it is established:
(a) That the corporation is insolvent or in imminent danger of insolvency; or
(b) That the directors are deadlocked in the management of the corporate affairs and the shareholders are unable to break the
deadlock, and that irreparable injury to the corporation is being
suffered or is threatened by reason thereof; or
(c) That the acts of the directors or those in control of the
corporation are illegal, oppressive or fraudulent; or
(d) That the corporate assets are being misapplied or wasted.
(e) That the shareholders are deadlocked in voting power, and
have failed, for a period which includes at least two consecutive
annual meeting dates, to elect successors to directors whose
terms have expired or would have expired upon the election and
qualification of their successors.
The appopriate clauses are a), c), and d).
a. Based on the information supplied to us by the company at a meeting held in Long Beach, CA on February 10, 1999, the company is bankrupt (defined as liabilities - assets excluding stockholder equity is negative. e.g., the company is $4.5 million delinquent in payroll taxes, this according to the company's CFO. Contrary to the recent statements by Arif Adam to me over the phone, there do not appear to be any significant assets. This is a service business!!!)
c. The company has issued many press releases that have misled shareholders. There is a veritable laundry list, including several by AA claiming that the company is profitable.
d. The company is bankrupt and yet the COB's compensation is in the range of $25,000 to $30,000 per month (Salary: $20,000; Bonus (at 10% of salary), $2,000; Car, Mercedes, $400 (estimate); Apartment $3,000).
We do not believe you compensate the COB/CEO at the level of $300,000 to $360,000 per annum for driving the market cap of the company down by 96% to $2 million and into bankruptcy.
We have reason to believe there have been other examples or misuse of corporate funds.
Our lead counsel, Cleve Powell, has informed Mr. Sultan, Firamada's counsel, of the action defined above.
If successful in our petition, the Judge will appoint a Receiver to take control of this company.
IF YOU HAVE INVESTED IN FIRAMADA STOCK AND ARE LOOKING AT A LOSS OF 70 TO 90% OF YOUR INVESTMENT, YOU SHOULD JOIN FSAAA. FSAAA IS A FAST GROWING ORGANIZATION WITH SHAREHOLDERS FROM 27 STATES AND 3 COUNTRIES.
WE ARE COMMITTED TO BRINGING WORLD CLASS MANAGEMENT TO OUR COMPANY.
WE HAVE A GREAT MARKET WHICH IS GROWING AT A RAPID RATE, DEDICATED EMPLOYEES, FIRST CLASS VENDORS AND A WORLD OF OPPORTUNITY TO RECOVER THE LOSSES IN THE VALUE OF OUR STOCK BY BUILDING A PROFITABLE GROWTH COMPANY.
ONLY ONE THING STANDS IN OUR WAY, ARIF ADAM.
JOIN FSAAA NOW, CONTACT DAN PROVOST AT dpp.dfw@worldnet.att.net. FIND OUT WHAT YOU CAN DO NOW!!! WE HAVE SEEN AND HEARD ENOUGH.
For those of you who support WalterTx, we urge you to find out what the facts really are before you commit to AA. Have you asked yourself the question, "Why is this stock trading at 3.5 to 4.5¢?" The stock is NOT undervalued, ladies and gentlemen. Under current management, it's worthless, that's why we have filed to take control of the company.
WITH NEW LEADERSHIP, THE VALUE OF THIS COMPANY WILL LEGITMATELY INCREASE. |
