(Updated) FAMH GENERAL "OVERVIEW" INFORMATION:
COMPANY:
Firamada
40 Wall Street, 32nd Floor
New York, NY 10005
Phone number: (212) 425-2168 or Toll Free 1-888-831-2442
CEO: Arif Adam
President: Ira A Monas
PR FIRM: Preferred Financial Marketing 1-310-789-1132
AUDITING FIRM: Marcum and Kliegman mkllp.com
SEC FILINGS: FAMH begins as a reporting company effective Jan 1, 1998. Their first Audited Financial Statement is scheduled to be done by about Feb 1, 1998. The 10-K for 1997 is supposed to be filed with the SEC as soon as possible.
PR Newswire INFO PAGE: prnewswire.com
(This includes recent Press Releases)
E-MAIL: irafm@aol.com
TOTAL SHARES OUTSTANDING: Apx 28 Million (before Myriad acquisition)
FLOAT: Apx 10 Million
INSIDER HOLDINGS: Apx 17.5 Million
SUMMARY of FINANCIAL STATEMENT: (Unaudited. Thru 6-30-97)
Message 2783503
(A detailed copy of this financial statement is available from the company)
Audited Financials are expected in early February.
1997 Revenues: (Estimated) $8.5 Million
1997 EPS: CEO expects 10-11 cents (from Conference Call on 1-22-98)
1998 Revenues Projection: $75 - 80 Million
Projections are based on including revenues from the acquisition of Myriad Employment ($60 Million), 5 - 7 additional offices (either acquisitions or new offices planned for 1998). Firamada expects a growth rate of 26-30% which exceeds the industry average of 19-24%.
GENERAL BUSINESS INFO:
FAMH is a temporary staffing company. They currently have 5 offices (not including the corporate office at 40 Wall Street, NY, NY).
Since several of the offices have been acquired, you may find them under the following names: Encompass Staffing of Success Staffing.
FAMH just went public last spring (1997), so this is their first year as a public company.
FAMH says their profits are considerably higher than the industry average because they are moving away from the low margin business (low range bulk temps) and focusing, instead, on the high profit end of the business (upscale permanent placements).
Firamada's finance subsidiary created in September showed a net profit of 73,645.25, in its first month of operation.
EXISTING OFFICES:
Encompass Staffing
67 Wall Street, Suite 2411
New York, NY 10005
(212) 269-4777
Encompass Staffing
2730 North Stemmons Freeway
West Tower Suite 1210
Dallas, TX 75207-2256
(214) 688-0711
(888) 523-9962
Encompass Staffing (New office opened in November, 1997)
10850 Richmond Ave
Houston, TX 77042
(713) 334-5665
Success Staffing
602 W 6th St., Suite D
Rolla, MO 65401
(573) 368-5782
(888) 368-5782
Success Staffing
3020 E Camelback RD, Third Floor
Phoenix, AZ 86016
(602) 955-6657
(888) 956-6657
PLANNED ADDITIONAL OFFICES (New & Acquisitions):
FAMH is expecting to complete an acquisition very shortly of Myriad Employment, a private employee leasing company that operates in California and Utah. The company says Myriad did approximately $50-60 Million in revenue for 1997. Of this amount, about $38 Million is in long term contracts. This acquisition is scheduled to close around
Feb 1, 1998.
LONG ISLAND, NY - New office planned to open in February, 1998.
MIAMI - New office planned to open in February, 1998.
CALIFORNIA - Acquisition of another company (in addition to Myriad) is in process. This acquisition is waiting on a probate court hearing in February. This acquisition is entirely separate from Myriad Employment.
FUTURE LOCATIONS CURRENTLY UNDER CONSIDERATION:
California, Utah, Colorado, North Carolina, Las Vegas, Pacific Northwest
NASDAQ or AMEX LISTING APPLICATION:
FAMH says they currently meet ALL the requirements for listed as a NASDAQ Small Cap company with the exception of share price. FAMH is considering either NASDAQ or AMEX for listing. The application process is supposed to begin sometime in February, 1998. The process is supposed to take 90 to 120 days.
OTHER INFO to Consider:
1) Temporary staffing is a hot industry. It is also a highly profitable industry.
2) Firamada is negotiating a settlement of a disputed tax lien in the state of Texas.
CLIENTS:
Some of their recent contracts have included Arizona State University, Arizona Cardinals Football Team, Colonia Insurance Company, Coca-Cola Merchandising - Phoenix, AIG Insurance, BF Goodrich, 1-800-FLOWERS, General Electric, and Goodyear.
FAMH IS DRAWING ATTENTION:
ED TAXIN'S FINANCIAL HOUR has picked FAMH (Firamada) as one of the "Top-10 Stocks to Watch in 1998." "Ed Taxin's Financial Hour" is on 32 radio stations across the country. The company said this was NOT a paid promotion.
Kostech Research has rated the company a buy up to $1.25
INVESTOR RELATIONS:
FAMH "Investor Awareness" promotions will be carried on 85 cable TV stations, in-flight talk on United Airlines & TWA, and the Morton Downey Jr Invest America TV Show begining in January-February 1998. These ARE paid promotional programs.
Conference calls to Brokers, Fund Managers, and Investors will be conducted most Thursday afternoons in January & February at 4:15 PM (EDT) at 1-800-860-3035. The "replay" of this call can be heard 24 hrs a day for 3 days by calling 1-800-567-1533.
Firamada has also publicized recent press releases in INVESTOR'S BUSINESS DAILY (1-2-98 issue) and BARRON'S (1-12-98 issue).
INDUSTRY POINTS FROM EARLIER POSTS:
"Contract Employee is crucial in all business today as I see many firms and the Government using staffing for many more projects as they are started." - Jim, post #70
"...executive placement which is REALLY profitable." - John, post #72
"Labor shortages will remain a big headache, with many managers particularly worried about the lack of qualified help. More firms will hire temps and lease workers,... a booming business. Let's managers concentrate on their core business while outside outfits
handle the hiring, firing, payroll, insurance and job training chores."
The Kiplinger Washington Letter ---- Nov 14, 1997. - post #228
"I saw a news show on TV a month or so ago that indicated that the US work force is starting to change drastically. I don't remember the numbers exactly, but it was an extremely high percentage (like 50% to 70% or so) of the working force over the course of the next 5 to 10 years would not be working regular full time jobs. They would be
working either for themselves or working temporary jobs. People are wanting to become more flexible in their employment." - Cheryl OD, post #235
INDUSTRY INFO in General:
FAMH vs. INDUSTRY ANALYSIS (SI post #903 by Dave)
207.183.153.23
INDUSTRY COMPARISON: Message 3043512
Post #1441 by Keiko: Message 3182596
CURRENT QUOTE:
cbs.marketwatch.com
CHART:
tscn.com
HISTORICAL PRICING: (Type "FAMH" in the Symbol box)
tradepbs.com
INSIDER BUYING / SELLING REPORTS: insidertrader.com
Best wishes,
Brad |
