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

To: Fitz who wrote (24889)	10/16/1998 8:09:00 PM
From: Little Engine	Read Replies (1) \| Respond to of 27968

Fitz, I find it hard to believe there will be such a meeting. I know I used to hammer people with math to show this thing was a scam, but I'm about to dust off the old calculator... From what I can see: They issued about 21 million new shares in 1997. One million went to Ira. Another 1.3 million went to "professional and consulting services". (I could have performed these services: "Hey, quit lying.") Finally, 2.7 million went for "offering costs". So... 21 million less the 5 million listed above leaves 16 million. How much did the sale of 16 million shares bring in? *From the cash flow statement: $777,352 Am I reading this right? I don't see any preferred or other class of stock in the audit. Let's see, that would mean they raised funds selling the stock for an average of slightly under .05 per share. All those who bought under .05 last year, raise your hands. Hmmmm... I think the only hand I see is Arif's. Could that $123,000 loan be for stock purchases? How slick that would be. Most amusing statement in the audit: "The Company is a party to claims and lawsuits arising in the normal course of operations. Management is of the opinion that these claims and lawsuits will not have a material effect on the financial position of the Company. The Company believes these claims and lawsuits should not exceed $1,476,124** and $962,494 as of December 31,1997 and 1996 and, accordingly has established a reserve included in other current liabilities." FAMH management does not believe that paying out $1.5 million will have a material effect on the company. Now I've heard everything.