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

To: ElGator who wrote (25997)	12/15/1998 12:32:00 AM
From: R. Murphey	Read Replies (1) \| Respond to of 27968

El Gator: Sorry, ... I've just got to ask......some questions also. Re: 1997 figure...... The '97 could have been the historical, "audited", combined revenues of FAMH & Myriad. Of course, Myriad was under the "control" of the tax man(and sold at 10 cents on the revenue dollar), and FAMH had lost most of its business and was also significantly indebted to the tax man. Neither was turning a profit, based on what has been presented, were they? It also appeared, many of the "numbers" FAMH bragged about previously were from their "wish" books. Re: <<Firamada PEO, would represent an increase of $4,215,000 or 9.3% over the same period a year ago.>> Wasn't it only last month (Nov.16) when FAMH announced "Firamada, Inc., currently selling Temporary Staffing only,...? Re:<<More new client employees were enrolled in the third quarter alone than in the first six months of this year.>> So, does the silence on existing clients mean they were stable, declining, or lost like last year? *Obviously missing are projections of cash flow, or profits. Come to think of it , they were missing in the actual* numbers previously.** Then there is the looming, earlier remark from ...."Michael Sukey, our CFO, [responsible] for cutting the cost of operations across the company."... who said, only a week ago, "Under the present structure, the company may find it difficult to operate as a public entity." Which side of their mouth should one believe? The dark cloud still looks mighty dark to me.

To: ElGator who wrote (25997)	12/15/1998 12:45:00 AM
From: Little Engine	Read Replies (2) \| Respond to of 27968

Gator.. and remember this gem of a press release... Message 4104073 ... stating that Myriad was a "$55 million company" and that the acquisition made FAMH a "$75 million company". Uh oh, some money missing. Check Arif's couch. As usual, FAMH pulling figures out of the air. I find it interesting the wonderful "money saving" procedures attributed to Sukey. How long has he been back... a month? If these procedures were so easy to implement, why weren't they done years ago? I'm reminded of the "Ira has FAMH back on track financially" and "Randy has straightened out our money problems" releases... looking forward to the "now that Mike Sukey is gone, we have our finances back on track" PR a few months from now. Looks like Gervais will inherit the role of "fall guy" once Sukey is gone. Expected him to be promoted to president soon. (Don't get too excited, Bob, president is a "temp" position at Firamada). Now... using the numbers FAMH supplied in the release... "Actual revenue" for 1998: .....$32,427,000 (First 11 months revenue) ....+$4,865,000 (December) _______________________ .....$37,292,00 (Myriad and temp staffing combined since Myriad acquired in April). Myriad was acquired on April 17. So, FAMH has had that revenue for the last 7.5 months of the year. $37,292,000 (total 1998 revenues) -$2,277,000 (claimed temp staffing revenues where $909,000 = 66% increase) ___________ $35,015,000 (total brought in by Myiad in 7.5 months) Estimate of what temp staffing will bring in during December = $189,750 ($2,277,000 divided by 12) December estimate of company revenue = $4,865,000 - $189,750 = $4,675,250, equaling the Myriad projection for December. $35,015,000 (1998 Myriad revenues in 7.5 months since acquisition) -$4,675,250 (Dec. 1998 Myriad projection) __________ $30,339,750 (April 17 to Nov. 30 Myriad portion) Per month average (4/17 - 11/30), divided by 6.5 months (Half of April, plus six months) = $4.667 million per month December Myriad revenue projection = $4.675 million for the month Hmmmmmm.... three observations. Number one, monthly Myriad revenues seem to be awfully consistent, on average, from the acquistion in April until the end of the year. They haven't appear to increase at all since the acquisition, no matter what the release claims. Number two, revenue figures staying almost exactly the same from one period to another is an old FAMH trick. (Remember Ira announcing that first quarter earnings were .03... 2nd quarter .03.... 3rd quarter .03....?) Number three, if they are gaining new customers, the old ones are leaving (amazingly enough) at the exact same rate.