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

To: David Sirk who wrote (16237)	5/9/1998 2:34:00 AM
From: Terry D.	Read Replies (1) \| Respond to of 27968

I agree but who did the audit? I have never seen a SEC filing like this one. As I said, I'm in, just wondering. Terry

To: David Sirk who wrote (16237)	5/9/1998 12:43:00 PM
From: Little Engine	Respond to of 27968

David, the "balance sheet" Ira released seems to have had the desired blinding effect on some people... <<<No Debt! Company growing! Gotta love it!>>>> No debt? At the end of last year, perhaps. But you know (from your careful reading of the board) that FAMH paid out $1 million to the IRS, and that they owe them another $3.3 million that is not listed on any balance sheet yet, since the Myriad acquisition was put off till this year (Ira was talking to them about it since December). I don't know, but $3.3 million seems like a substantial debt for a company with $8 million in revenues last year... maybe it's just me. Also, without audited financials from Myriad (Why doesn't Ira release those as well? They would help investors immensely.), nobody knows how much other debt FAMH might be absorbing in the deal. Or whether Myriad made any money at all last year. All we have are Ira's promises to back any claims up. And we know how dependable Ira is on specific numbers and dates. You also realize, I am sure, that FAMH struck a deal for a line of credit on Feb. 25 to borrow millions, to be backed up by stock: <<<Firamada Inc. (OTC Bulletin Board: FAMH - news) has obtained a line of credit through an equity investment in the amount of 12 million US dollars through Bristol Asset Management of Los Angeles, CA.>>>> Perhaps it's "just a coincidence" that after this announcement they started issuing stock like mad? It's been issued at over a million shares a week since the beginnning of the year. Of course, the 1997 earnings won't reflect that either. But I'm sure we will hear from you when "11 cents EPS" comes out someday, saying... with all the growth, 30 cents EPS next year! Can't wait.