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: M Murphey who wrote (22704)	8/4/1998 5:02:00 PM
From: John Fairbanks	Read Replies (2) \| Respond to of 27968

Ok.... here are my questions... I don't feel any have been answered by management to my satisfaction -- old management or new. (Sounds kinda like New Coke... maybe not such a good idea after all.) 1) Why was the number of outstanding shares increased from 20MM to 70MM and why is it that Arif owns most of the new shares that were created? (by his own admission on a conference call) We were told later by Arif that these shares were created for the Myriad aquisition yet I have to wonder why he owns most of them if that is the case -- and why there was a prior press release stating that there were not any shares issued for Myriad. 2) Is Arif planning to return any of those shares, and if not, why not? 3) Why would "Audited" 97 financials need to be reaudited? How could that audited number be "better than .1085" as we were told so often. I thought the very definition of "audited" meant the numbers were final... 4) Shortly before Ira was forced to resign the company was strongly considering a 10 for 1 reverse split. Is this still contemplated? If so, how is this going to maximize shareholder value? 5) The last week in May the company had supposedly submitted its 97 financials to Edgar and we were told the reason we couldn't see them was the time it was taking Edgar to scan them in. In reality, the financials had never been sent. We were left hanging for over a week believing a lie... why? (I can tell you the SEC is pretty interested in the answer to this little question too, not just me...) 6) If Ira was evil incarnate and Arif was blind to everything he was doing, why is it Arif who's holding all the shares which dilluted out my investment? In light of these unanswered questions, the "new" management has not said anything to make me believe this company has changed. (I put "new" in quotes because Arif is still there, so the "new" management story is a bit of a joke if you ask me.) Finally, has the "new" management done anything at all to try and address any of these questions? Not that I can see. It's the same old mumbling about profitability and financials coming some day afar off. If I sound frustrated it's because I am. I bought my first share of Firamada last October, I visited their office, made a ton of calls to the company, and spent hours reading all the posts and listening to all of the conference calls. All so the company could jack me around and take my money. And on top of this I have a newcommer telling me I don't do any DD and yelling at anyone who doesn't have something good to say about this company. I guess I'll go lurk for a while again since this doesn't seem to do any good.