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

To: dave brown who wrote (18632)	5/21/1998 8:50:00 PM
From: John Maddison	Read Replies (2) \| Respond to of 27968

This is what I think has happened over the last 6 months or maybe longer. Ira set an extremely aggressive acquisition plan in place with a number of financing mechanisms including warrants and shares. His main goal was to generate cash, lift the share price and obtain a listing. Seemed reasonable. Things seemed to be going OK and then his lack of business knowledge/judgment/impatience started to show. That's when some untruths started to show through, the financials, the number of shares. In Ira's mind his was not telling lies simply gaining time until the cash flow started and such news would not matter. I think the AXTI deal was a real killer for him. Again trying to do things too quickly without consulting all the parties especially the management of ATXI. Towards the end trying force the financials out without knowing how long it takes to get an edgar listing again showed some key business inexperience. Having said that I don't think Araf has too many investor skills either. Anyone with simple investor knowledge would know how important it is to explain the number of outstanding shares. To spurt out 70 million with no explanation is not good. At least he understands this and is hiring a CFO. This is such a key hire for FAMH. They seem to lack all knowledge of the financial community and what drives share price and company value. The new COO Randy seems very down to earth and focused on the business.I'm glad he was talking about pending deals rather than the next quick buyout. Mergers and acquisitions take many months to make work and it seems the business units were in different market segments. The Morton Downey seemed to me to be a mistake. Always focus on your core business and leverage into different target markets. This company will take much longer than the end of next week to restore its credibility, it will be a 3 to 6 month process and I don't think many investors on SI have that sort of patience. I have and decided on the stock dip last week that the money I have invested will not be available for some 6 months at least. I will check this thread now and again because sometimes there are good postings. However jerks like Mackie seem to appear on every other post and it just wastes my time opening them. Little facts that's for certain. Remember all this is my reading of the situation so I may be doing Ira a big injustice. FAMH has the base to be $100m company in 1999 generating at least $15m of pre tax profits. With a reduction in the float probably about 10 million shares they will gain a Nasdaq listing around in the 3rd quarter of the financial year. Again the new CFO will be instrumental in this. So those investors looking for $6 to $10 per stock better learn to relax and enjoy the long ride. JM