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

To: Lonnie A. who wrote (27272)	4/8/1999 10:43:00 AM
From: R. Murphey	Read Replies (2) \| Respond to of 27968

Lonnie A.: Re: Meeting I've heard about some of the proceedings and a more substantial report will be delivered by attendees, as soon as their notes are compiled. It was a very long day for them yesterday. Firamada apparently refused to allow FSAAA to record the meeting, although they did so themselves. Firamada promised to provide a full transcript within ten(10) calendar days. Basically, as I understand it from multiple sources, the meeting was relatively cordial with FSAAA led by Dick Lee, Terry Shapiro, and Malcolm Murphey asking a basket full of pertinent shareholder questions ranging from why Firamada was holding an illegal meeting, to the financials, to who is responsible for running the company, to share distributions, to what's happening at the Company today. I understand the majority of questions were deferred by Firamada until after the votes were counted. As soon as the results of the votes were reported, the meeting was abruptly adjourned by management with many questions unanswered. The changes to the by-laws or articles, and company slate for directors were all passed. It sounded as if AA did not vote the 12.5 million shares that their counsel indicated were determined to be valid and would be voted. When questioned why the meeting was being held in violation of the Texas Corporate Act (re: record date that Firamada has steadfastly stated was 12/31/98) their counsel suddenly stated the "record date" was March 25, 1999, as I understand. You can refer to Firamada's PR's, as recently as March 30 to see the March 25 date appeared to be pulled out of thin air in an attempt to validate the meeting. If March 25 was the record date, a group of shareholders were deliberately shut out by ......misleading statements from the company in PR's, the proxy statement, and on the proxies themselves. Texas law requires the shareholders of record, allowed to vote at the meeting, be fixed during an interval of between 10 and 60 days preceding the meeting. Dec.31, 1998, as fixed by the Company, is clearly not within the limits prescribed by Article 2.26 of the Texas Business Corporation Act. It's "deja-vu" to me. They cannot comprehend conducting business using "good business practices" or operate within the law, IMOHO. Give the attendees more time to report back in detail. I'm sure they will present the transcript as soon as it is available also. Regards, Bob.