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

To: CO who wrote (1625)	1/20/1998 9:49:00 PM
From: FARRIS	Respond to of 27968

Cheryl, I was going to post something similar earlier, but got busy. We are waiting for the 10K, NOT Q3 audited financials. The reason we do not have Q3 audited financials is because FAMH said it was better just to keep rolling, audit the whole year, and put them all (Q1-Q4) out at once. I, for one, will be quite upset should FAMH simply put out Q3 financials on Feb. 1. The entire year's financials are supposed to be out at that time -- to reiterate. Eric

To: CO who wrote (1625)	1/21/1998 10:04:00 AM
From: carolm	Read Replies (2) \| Respond to of 27968

Referring to my post about the 10-K release, it was Jennifer at Preferred Financial who told me she thought the 10-K would be released around Feb. 1. Whe I talked to Ira to confirm, he said that his priority was to have audited financials by Feb.1 for the year. The 10-k for that period would not be due until June.1. I understand that the audited financials are included in the 10-K, but once it is submitted to the SEC, the process can take awhile for them to be accepted. They may have questions and need points clarified. This can take weeks or even months if there is a big rush by March 1 due to the new listing requirments. This process was explained to me by Mike Millis of CSMA. He also explained that companies only audit once a year due to the expense and time. That is all that is required. The quarterlies don't need to be audited.