To: Citidude who wrote (15358 ) 5/6/1998 10:25:00 PM From: Citidude Read Replies (4) | Respond to of 27968
EVERYBODY!!!!!!!!! PLEASE READ THIS THROUGH ITS ENTIRETY!! Folks, this is a follow-up to my post # 15,359 earlier today. Answers to questions first: 1. KZAP: No, I am not Christopher Smith. 2. Jonas Grumby: I have a part of my portfolio that I allocate to all types of stocks through-out the years. Blue chip, NAZ, BB etc. 3. Jane J: Thank you. 4. Bruce Omorie: Reducing the float as well as outstanding shares are both part of the plan. 5. Dan Lanza: I guess we DO know now that it was indeed Ira. Now to address the good idea vs. bad idea for this plan. I do not see this as a good idea whatsoever. The only significance I see in this plan is reducing floated/outstanding shares at our expense (which could be VERY bloody for us all), and here is why: 1. Some here just don't get it. Regardless of MMs, shorters and daytraders, this company's stock price cannot get off the ground. The three I just mentioned are in EVERY stock!!! NOT JUST FAMH!!! There are also other forces at work in the market that drive a stock's price up and sink it like a stone. There MUST be fundamentals of a company at work as well. Now from what I've read, FAHM has good fundamentals and a promising future. BUT . . . it's price has yet to leave the $1.00 range. The market is not doing it folks!!! Here are some points to ponder: A. If Ira believes so much in his company, why does he need a reverse to prop up our price? B. If the market can't naturally send our price soaring with all that's happened or going to happen, how long do you think we'll sustain a going price or higher than $1.72 based on today's close. C. A BB stock reverse can (not always) spell DOOM. Furthermore, even if a reverse helped us to get to NASDAQ we would really be in the toilet. We would be under ENORMOUS scrutiny, a lot more than we have now. Getting on the NASDAQ now would be rougher because the NAZ expects more out of a company than the NAZ-BB does and MMs would rip us to shreads!!!!! Our stock would sink like the Titanic IMHO. We can't even be on time for reporting financials, which brings me to my next point. 2. Why are the 1997 financials not yet done?!?!?!?! Unless I'm missing something here, people are up in arms about this. Also, what happened to May 15? Why must we now wait till June 1, for the first qtr financials?!?!?!? UH, EXCUSE ME!!!!! But that is the month that ends the 2nd financial qtr. How the heck long will it take to then get financials for that?!?! Some points to ponder: A. Let's wake up folks!!!!!! We're looking forward to this EDGAR filing to give us credibility in the financial sectors. How do you think they will look at a company who has been TREMENDOUSLY late time after time after time with their statements to their shareholders. This is regardless of their requirements to report or not. AGAIN!!!! HOW DO YOU THINK THAT LOOKS????!!!!! B. If we can't get on the ball here, do you think we're going to get on the ball for NASDAQ listing? I think not!!! At least not for a long time. 3. Issuing warrants will eventually put us right back in the situation we're in now once they're exercised. I would argue that it is even more dangerous than where were at now. A. This whole "warrants" idea is unclear, so unless I have something wrong here, and please correct me. How could we give back 4 of our shares for a warrant (I think I saw a value of $1.25 somebody said) and a share? Based on today's closing price that would equal a $1.25 warrant and .52 cent share!! Am I wrong? B. How long would it take the common to reach a decent price to make it worthwhile to exercise our warrants? If we can't rise above .75 yet, how long will it take!?!?!?!?!?! C. What if the warrants are made callable and then become worthless because the common hasn't risen by the expiration date (if an expiration date is and most likely will be placed on them? D. What if the common stays where it is, or worse yet FALLS!?!?!? 4. What is the purpose of this plan? I'll tell you. For the company to raise money at our expense!!!! Why? How? Points to ponder. A. Why do certificates need to be printed? OBVIOUSLY!!!! To make more money!! B. Why a reverse split? To reduce the floated/outstanding shares. Once done, will more shares be issued AGAIN!?!?!? Will more certificates be printed!?!?!?! Why would they? To make more money while we sink further with our new shares and warrants!!!!!!! C. Why not buy back some of the stock at these cheap prices Ira? D. Why not stop printing certificates and diluting earnings Ira? E. My thoughts are he can't!!!!! Why? Because he needs money to do it. And either FAHM doesn't have the money, or it's being earmarked for other things that continue to dilute our EPS!!!!!!!! AGAIN!!!!! I'm not trying to bash this company!!!!! But I don't like being toyed with either by someone who doesn't think they have to answer us!!!!!! It STILL bothers me why if now Ira has admitted he is himself and not INTHEFLESH, why he hasn't filed a formal complaint with the Silicon Investor Corporate that someone is trying to impersonate him and is or was using HIS e-mail address. I said yesterday this investment for me was a gamble. It still is. It will soar or tank. However, I would say now it will either tank or now take years to climb IMHO. Today's question by Ira raises red flags in my mind for even what HIS thinking is on the future of this company. I welcome your comments. Chris