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

To: David Parkinson who wrote (24421)	9/29/1998 10:30:00 PM
From: Freddie Forte	Read Replies (1) \| Respond to of 27968

Dave....I think we will definitely see 97's numbers on this date. But I don't see how they are going to produce .1085 EPS "or better" as Arif stated for '97. It just doesn't add up even if you stretch the numbers a bit. The only plausible explanation is that they used proceeds from stock sales (maybe the reason for the increase in shares,only guessing,though) to reduce current liabilities or pump up revenues. If they used the proceeds to pump up revenues(a one time event),then cost of revenues wouldn't increase and this, possibly, could produce this figure. On a conference call, Famh stated 8.5 million in gross revenue for '97 and 2.2 in net revenue. I believe the 8.5, but, the 2.2 is hard to justify. With 20-25 million o/s this would give us the .10-.11 eps, but, I have my doubts. Revenue for 1996 was 4,000,000 with 3,200,000 attributed to cost of revenue. Now Famh does an additional 4,500,000 the following year(8.5), but, cost of revenue, according to Famh's numbers, increased by about 1,500,000. Famh, in essence, shaved about 1.7 million off of cost of revenue with the additional 4.5 in income. Is that possible? And this is ,also, taking into consideration that selling and general expenses remained the same. If someone can justify the .1085 , by all means, give it your best shot.

To: David Parkinson who wrote (24421)	9/29/1998 11:03:00 PM
From: Dick Lee	Respond to of 27968

David: I would love to see the skyward trend if Randy delivers the 1997 numbers by October 16. The reality is, that will not happen!!! Why? 1. Arif Adam, the COB, has issued himself shares so that his position is not diluted by the issuance of more shares. 2. The 1996 and 1997 audited results are irrelevant in determining the value of the stock today. 3. Management, including Randy Malionoff, has over promised and under delivered. The 1997 audited financials have been promised over and over and we still have nothing. 4. Mike Sukey was a major hiring mistake. Our business is the management of HR. How can we of all companies make that kind of mistake. Sukey was a disaster the first day he appeared on a CC. 5. What counts is today's income statement and balance sheet, nothing more or less. Have you heard anything about today's operating results? I sure haven't. Are we making money? Is the debt coming down? Is Arif Adam taking 20 to 30 million shares off the table? If we are making money, debt is being reduced and Arif Adam is repentant for his gross mismanagement of this company, then I'll agree with you, we will see movement skyward. On 1997 results, no way!!! LTBFV, Dick