Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Andrew H who wrote (2116)	1/28/1998 3:56:00 PM
From: Andrew H	Read Replies (2) \| Respond to of 27968

>>Something else is very interesting. According to Brad's post, FAMH just bought Myriad for 2.5M shares plus 350K cash plus assumption of 1.8M in debt. that works out to roughly $2.8M. This is for a company that is expected to have 60M in sales in 1998 and earned an after tax profit of $1.8M in 1997. This seems just too good to be true.<< Sorry made a mistake--assumed debt was only 1.5M, so total acquisition cost was roughly $2.5M rather than the $2.8M I stated. Even more phenomenal. Either Ira is a business genius or something is not 100% kosher.

To: Andrew H who wrote (2116)	1/28/1998 4:29:00 PM
From: Omnichrome	Read Replies (1) \| Respond to of 27968

Andrew, As Carol has responded and most have forgotten, this acquisition was made possible because of Myriad running afoul of some Taxing authority. That's why it may seem "too good to be true". Your previous post contains an example of the "mis-statements" that I was alluding to when you say it is EXTREMELY unusual for a CEO to suggest quadrupling earnings. Ira didn't suggest that - he only put it out as a goal. Nothing wrong about having aggressive goals IMO. Be careful out there.