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

To: Emec who wrote (2447)	2/2/1998 2:40:00 PM
From: John Fairbanks	Read Replies (2) \| Respond to of 27968

David if you look at the discussion as to why this happened I think you'll find it makes sense. As I posted a few posts back, my Dad, a senior partner in a CPA firm, has a client that is in Myriads exact position and they are giving up their business for a song too. They simply don't have a choice in the matter. Let's look at Myriads situation. The officers are PERSONALLY liable for $4.5MM in taxes. (This makes them payroll taxes because those are the only taxes you can be personally liable for...) Your choices are: Choice A: Sell for next to nothing but eliminate you liabilty and still have a stake in the company, plus some cash. Choice B: Have the IRS shut the business down so it's worthless and you still have to pay back $4.5MM. Seems like a no-brainer to me... -John