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

To: Little Engine who wrote (3735)	2/20/1998 3:58:00 AM
From: JIN CHUN	Read Replies (2) \| Respond to of 27968

Little Engine, Without the complete information which will be found in the audit and subsequent filings, it cannot be known, with complete assurance, that the statements and implications you make are true. I don't have an intimate knowledge of the daily operations of the company. I also do not have an intimate knowledge as to the exact ratio of permanent placements to temp placements and the exact distribution of margins across their different offices. And neither do you. I guess you could say that Ira does, or at least should, and you would probably refer to the phone call you had with Ms. Hedburg at Preferred Financial. Could it have been a misunderstanding? Did you speak directly with Ira and did he give those exact figures? I have had many conversations with Jennifer, and Ms. Love, the president of the company, especially when they were newly signed. At that point, as was evidenced by the first CC, neither one of them had complete DD in front of them. Your implication, although prefaced by "just my opinion", that FAMH was "following the Myriad model" regarding their corporate taxes is uncalled for and blatantly deceptive (just my opinion). You are right, corporate taxes in this country probably run at about 30 percent. But there are factors which could easily account for the amount that Brad relayed in his original post. Loss carry forwards, expenses incurred in going public, etc. etc. We simply do not know the complete details that an audit and SEC filings will provide. You are also right that they are headquartered in NYC, but that move was relatively recent in the company's history as Firamada inc. I believe the original state of incorporation is elsewhere. When you ask how they can charge 3 times the temp salaries, all you are doing is dividing the temp wages into the gross sales. Do you know for a fact what the exact ratios for placements vs. temp was for each office? Do you really think that their office in Rolla, MO would be driving the sales when they are placing underwriters for AIG and Colonial? Didn't someone relay a conversation with Ira where he said a lot of the placements out of the Wall St. office was at a 70 percent margin? Regarding the notes payable issue, it could easily refer to the disputed tax lien in Texas. If it is truly disputed, then the disposition of the note would have to wait for settlement. Regarding the interest expense, what you fail to mention for those who do not have the report in front of them is the listing undering "current" which showed $201,358. Furthermore, you imply that they had conveniently forgotten to provide useable balance sheet numbers. I agree that the original IR packet is lacking. But you also fail to mention to those without the Dunn and Bradstreet report that their notes payable on June 30, 1997 was 13k but a whopping 240k in fiscal 1995.Unless you know the exact internal financial workings of the company, their exact intentions on use of working capital, then how can you make such statements? You mention HIR. HIR has a current ratio of only 1.01! Their current assets are only 1 percent higher than their current liabilities? FAMH's as stated in the report as of JUNE '97 was 4.4! Jin.

To: Little Engine who wrote (3735)	2/20/1998 9:56:00 AM
From: John Fairbanks	Read Replies (1) \| Respond to of 27968

LE, although there are issues that remain to be explained in the financial statements it is not appropriate for you to assume that the questions you have are due to the company lying in the financial statements. If you see things you don't like, then don't invest. (oh that's right, you haven't...) When a company issues financials in their investor packet and you start publically crying out that the company is lying... boy are you setting yourself up for a defamation suit. Say what you want but you are only able to make guesses based off of what they they've said and for you to act like your guesses are fact... AND to act like you know more about the company's operations than the company president... Wow. If you think that the company is not reporting properly then you are welcome to contact the SEC and express your concerns. I believe that you have WAY overstepped your bounds though in publically trying to attack the credibility of this company and its officers. If you are a broker or a MM you can rest assured that you will be reported to the NASD. In a couple of weeks we'll have our answers from the AUDITED financials and you had better pray you are right...

To: Little Engine who wrote (3735)	2/20/1998 11:04:00 AM
From: Freddie Forte	Read Replies (1) \| Respond to of 27968

Mr. Little....You seem to be a very intelligent person. You have displayed a vast knowledge of accounting, technical analysis, and financial matters. For the life of me, I cannot understand why you would waste your valuable time on a BB stock ? I would like to add that you raise legitimate questions that no one on this board can answer since we are not principals of the company. Let's wait for the financials to determine everyone's fate. We're all big boys and girls, and if we made an investment mistake, that's our loss. Constructive criticism is encouraged when the purpose is sincere. You have a different agenda than most here. Why waste all your knowledge on a BB company that is just getting started ?