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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Jens Tingleff who wrote (27578)	6/11/1999 3:26:00 PM
From: Double Dipper	Respond to of 27968

Jens, I hope, if its good news, that the FSAAA members get it first so they can benefit from the news - good or bad, before the rest of the non FSAAA members. Kevin - Not a member but wishing them the best

To: Mr. Jens Tingleff who wrote (27578)	6/11/1999 9:05:00 PM
From: Dick Lee	Read Replies (1) \| Respond to of 27968

Jens: OUTCOMES FROM THE 6/9 RECEIVERSHIP HEARING June 9th was a very interesting day, full of surprises, twists and turns. At the end of it all this is where we stand: 1. By mutual agreement attorneys representing FSAAA, Firamada and Arif Adam agreed to have the Judge (the Honorable John Coselli) order mediation for completion within the next 45 days (target, no later than 8/4/99). 2. In the intervening period FSAAA and Firamada will seek to reach a compromise. 3. In the event Firamada and FSAAA are unable to reach a successful conclusion through mediation we will revert back to pursuit of the Receivership hearing. The Judge has agreed to expedite same (my estimate is within 60 days of 8/4/99, so we would be looking in the 10/4/99 timeframe) 4. Firamada has agreed to supply unaudited income statements and balance sheets, A/P details , and A/R details for at least the 1st Q 1999 to FSAAA within seven (7) days following mediation. Given that we have had four scenarios on the table to date regarding settlement and none have materialized, the chances of settlement in my mind have to be less than 50%, so you can figure we will be back in court in the early October timeframe. Firmada's attorney, B Midlo, attacks FSAAA on the basis that we are just two Plaintiffs who hold 245,000 shares and therefore are trying to pull a "Coups d'Etat" (holding the company hostage). Until Mr. Midlo accepts that Dan Provost and I represent 213 other members of FSAAA both morally and ethically and that they have put their hard earned cash into to support this suit because we have all had enough, we will make no progress. FSAAA has 215 members and collectively hold over 8 million Firamada shares. Our members range from those who hold less than 1000 shares to the largest shareholder outside Arif Adam and members of the Adam family (this entity holds 543,000 shares). Most of the shareholders who own over 100,000 shares are members of FSAAA. The Adam family hold just over 50% of the 65 million shares outstanding, so FSAAA represents 25% of the remaining outstanding shares. For an organization that came into existence just over 4 months ago, I think you'll agree we have come a long way....and we have made a difference!!!! Arif Adam and WalterTX (probably his brother Arif) claim we are out to destroy the company. On the contrary FSAAA wants to save the company from those who have been destroying it since it went public. We want to recover our investment in this company, not close the doors. With best regards, LTBFV through FSAAA, Dick