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To: Little Engine who wrote (23896)9/6/1999 8:33:00 PM
From: DSPetry  Read Replies (1) | Respond to of 26163
 
And from the next line of the K, which I'm sure you missed while doing your quick scan...

For the year ended December 31, 1998, certain officers' were granted annual salaries as per the above table. As of December 31, 1998, none of the salaries that were granted have been paid. None of the compensation accrued will be paid until the Company is profitable and has positive cash flows.



To: Little Engine who wrote (23896)9/6/1999 9:45:00 PM
From: Janice Shell  Respond to of 26163
 
can anyone fill me in on where the $5 million of operating expenses came from in 1998, given that those expenses were "only" about $1 million in 1997?

Elsewhere they explain that a very large part of "operating expenses" went to legal fees.



To: Little Engine who wrote (23896)9/7/1999 6:38:00 AM
From: tonto  Respond to of 26163
 
LE, stock is the story. G&A expenses were very high last year. Some officers and directors had an agreement in place.
Not bad considering the losses and little revenues.

There is this family at FAMH that has done well in the past.<s>

For the year ended December 31, 1998 the Company experienced a net loss
of $4,815,331. The primary components resulting in that loss were: revenues -
$392,061; cost of goods sold - $92,275; operating expenses - $5,120,982; and
other expenses of $(5,865). While revenues increased by almost nine fold,
general and administrative expenses showed dramatic increases. This was
primarily a result of the recording of the sweat equity for shares issued
based on a prior consulting agreement with certain officers and directors of
the company.