To: Freddie Forte who wrote (24932 ) 10/17/1998 11:45:00 AM From: David Colvin Read Replies (1) | Respond to of 27968
Freddie, You said,Am I reading the press release correctly? Is there 160 million outstanding or what? Tell me it ain't so? :-((((((((((( From the top of page 9 of the 1997 financials: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) For the years ended December 31, 1997 and 1996, weighted average common shares outstanding were 21,923,174 and 19,020,620. There were no common equivalent shares outstanding as of December 31, 1997 and 1996 I guess this is where we got the idea that there were only about 21 million shares outstanding at the end of 1997. As to Randy's statement in the news release yesterday....as far as I'm concerned, it's another $%#@@ obfuscating, vague, "you figure it out suckers" statement that could definitely have two meanings. o 4 times the actual number of shares at the end of 1997 (39 million +) or o 4 times the weighted average number of shares stated above (21.9 million plus) I'm hoping Randy meant the latter, but who knows? I hope Brad is right about the 75 million + that he got from the transfer agent. BTW, I didn't invest mucho dollars in this %$#@@ company so I can "hope" something happens....I invested because the lying SOBs released a public news release stating that the audited earnings for 1997 were $0.1085 per share.....period! Two other things now come to mind: 1. When Arif announced there were 70 million shares outstanding in that infamous conference call, wasn't Randy already "on board"? Randy said in yesterday's news release that not one additional share has been issued since his arrival at FAMH. If Brad's info is correct, 5 million + shares have been issued since Randy's arrival. 2. When Arif announced there were 70 million shares outstanding in that infamous conference call, he said he owned about 40 million and "most" were restricted. 27 million of 40 million doesn't sound like most to me!!!!!!! Really pissed!!!!!! Dave