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

To: Steven Angelil who wrote (6741)	3/17/1998 9:32:00 AM
From: Mr. Stress	Respond to of 27968

>>>ps I'm showing .63 x .64 before the open..<<< It looks like a lot of selling pressure coming in this morning. I guess some people aren't very patient. This will be a great buying opportunity for those that were waiting to get in cheaper. Dave

To: Steven Angelil who wrote (6741)	3/17/1998 9:38:00 AM
From: John Fairbanks	Read Replies (1) \| Respond to of 27968

I was talking to my Dad last night about the audit... he used to do audits in his early days with the accounting firm and he said what we are seeing here is completely understandable. For those who might have as little understanding of the audit process as I did, here it is... Typically the audit will begin in December with the auditors overseeing the closing of the year. The they begin a time of field work where they actually go and verify things like account receiveables, debts, pending legal issues, etc. The day the field work is complete becomes the "date of the audit". On that day, although the audit is still far from complete, all of the numbers have been finalized. (Corporate tax returns were due yesterday, so end of year audits would have been at least completed to this point so they can use the numbers in their tax returns.) The auditors then begin a time of writing up the audit from their rough worksheets. Footnotes are made to clarify how numbers were calculated such as an explaination of how an asset is being depreciated, etc. The auditors are also responsible for explaining any siginificant changes such as changes in business structure that have occurred between the end of the audit (Dec 31) and the audit date (when they finished the field work). I suspect that this is what has been slowing us down because the company has been changing at a million miles a minute and all of that needs to be carefully documented. Since Ira gave us the final numbers a couple of weeks ago, that was probably the date that the field work was finished and the auditors have been working since putting the audit together, but the numbers are finalized! He said that FAMH is actually right on schedule for what he would expect to see an audit for 1997.

To: Steven Angelil who wrote (6741)	3/17/1998 12:21:00 PM
From: Mark[ox5]	Read Replies (1) \| Respond to of 27968

Steve A.. I know your relatively new here but... A) By law, they dont have to release financials until what is it? June? B) FAMH first said financials will be out early in the year, then they said March 1. We were doing an audited financial watch on the thread for a few weeks.. the date has gone and passed. Don't hold your breath for it ... when its out its out. Now I expect the price to drift downward until the next press release, because there was some selling yesterday (but lots of buying after Brad announced a PR release coming), and now today we have the same selling but no demand. I think the audited 1997 financials are important, but for those in the stock to hold longer than the next few weeks the 1Q 1998 will be the telling one. (assuming they close in the 2 weeks ) That will tell us the "structure" of the company. Im surprised no one has asked Ira: "As of today, what is the total outstanding shares for Firamada" Any president should know that info, and we have a thread full of people.. many of who have a lot of $$$ tied up in the co., many of who who trade stocks for a living so they have time to make these calls.. who havent asked that simple question. We are guessing 40MM.. 42MM? LE is right about that point.. on Dec 31 1997 we had what? 23MM shares and now 40-42MM? Yes I know its a OTC-BB stock but how many shares were issued and for what purposes. Ira should be able to tell you "3MM shares for the NY temp firm" etc etc. And yes, his communication has improved a lot in the past few weeks.. but still its unsettling at times. This is from someone who is IN the stock so no im not trying to bring it down.. just being realistic based on the past history over the past 4 months. It also unsettles me to see so many people saying "well it will all be out by Wednesday so relax until then" Good luck with that. Mark