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

To: Wink who wrote (7633)	3/23/1998 2:29:00 PM
From: Omnichrome	Read Replies (2) \| Respond to of 27968

Wink, I had come up with an $.18 figure based on assumptions and reading between the lines, but figured I may have been missing something. But this paragraph from the press release leaves no room for guessing. <<Firamada said its 1997 revenues will be the sole basis for calculating the post-merger EPS. Based on its pre-merger EPS of $0.1085 for 1997, and the proposed 11.97 million post-merger total number of shares, the new EPS calculation for a NASDAQ-listed Firamada company would be about $0.36.>> Adds up to $4.3M Net after taxes. I think someone at the company forgot that last years EPS was based on 20M shares and the 4:1 share exchange is based on 40M shares. Doesn't compute. Be careful out there.

To: Wink who wrote (7633)	3/23/1998 2:31:00 PM
From: JIN CHUN	Read Replies (1) \| Respond to of 27968

Wink, I just reread your post. I think that perhaps the .36 figure comes without being fully diluted into the current share count, and arrives the same way that the .1085 was figured given the average share count in '97. In any event, the company has/will fundamentally change/d from '97, especially after Myriad is completed. There is absolutely no way, IMO, that they can do less than .36/share eps, fully diluted, in '98, and more likely, substantially more. Jin.

To: Wink who wrote (7633)	3/23/1998 2:36:00 PM
From: BCfan	Read Replies (1) \| Respond to of 27968

Wink, Omnichrome, I asked Ira the same thing via e-mail. I came up with $0.21 as well. He replied that we have to compare proforma based on earnings already obtained. After exchange, we will have approx 12M o/s but with the same total net income in 1997. He also said that if I really wanted to look at it, I should include Myriad, two small acquisitions, and MD. I am confident that IRA and his auditing/accounting folks know how to run the numbers better than me. I'm sure they were aware that the numbers would be scrutinized by the thread, so the numbers are probably right, I just don't know how they work. BCfan