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: Jonas Grumby who wrote (11140)	4/8/1998 12:28:00 PM
From: JIN CHUN	Read Replies (3) \| Respond to of 27968

TO ALL: LATEST PRESS RELEASE: Firamada, Inc. To Close Myriad Acquisition;Firamada in Negotiations to Joint Venture European Staffing Firm April 8, 1998 12:21 PM NEW YORK--(BUSINESS WIRE)--April 8, 1998--Firamada, Inc. FAMH today announced final Agreement documents for the $55 Million Myriad acquisition will be delivered to Myriad Friday for signing no later than 12:00pm on Monday, April 13th. Firamada had been awaiting authorized and signed collateralization papers from the Internal Revenue Service before making delivery of the closing Myriad Agreement. The receipt of the approved IRS papers yesterday clears the way for the Myriad deal to close on Monday. According to Ira Monas, President of Firamada, "This Agreement puts us on the radar screen of the staffing industry. To ascend to $80 Million in annual revenues this quickly is remarkable; and we are finding more opportunities for growth almost daily." Firamada also announced they have entered into negotiations with an Italian computerized services group (with 1997 revenues of $23 Million U.S.) to joint venture an Italian staffing firm. This joint venture would take advantage of said Italian firm's extensive current business associations with the Italian banking industry, state and local agencies, and sizable Italian private corporations. Until recently, the 18 month-old Italian staffing industry had been regulated extensively. New laws have opened up this industry and Firamada is very interested in participating in what promises to be an enormous market. Details of these negotiations will be reported as progress dictates. This press release contains forward-looking statements with respect to the results of operations and business of the Company that involves risk and uncertainties. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission.