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PLEASE NOTE ! This thread is FOR RESEARCH INFORMATION ONLY ! PLEASE take Comments and Questions to the other FAMH Thread entitled "FAMH - FIRAMADA Staffing Services" at the following site: Subject 18031 - - - - - - - - GENERAL "OVERVIEW" INFORMATION - - - - - - - - (This information has been compiled by me, an independent investor, and is presented to be as accurate as possible according to what information I have been able to obtain from public and private sources. This should NOT be assumed exact, but is presented as a starting point for research purposes.) COMPANY: Firamada (OTC:BB FAMH) 40 Wall Street, 32nd Floor New York, NY 10005 Phone number: (212) 425-2168 or Toll Free 1-888-831-2442 CEO: Arif Adam President: Ira A Monas PR FIRM: Preferred Financial Marketing 1-310-789-1132 CONFERENCE CALLS: Held most Thursday afternoons in March at 4:15 PM (EDT) Live Call 1-800-860-3035. Replay available 24 hrs a day for 3 days 1-800-567-1533. AUDITING FIRM: Marcum and Kliegman mkllp.com SEC FILINGS: FAMH begins as a reporting company effective Jan 1, 1998. Their first Audited Financial Statement is scheduled to be made public around Mar 1, 1998. The 10-K for 1997 is supposed to be filed with the SEC as soon as possible. PR Newswire INFO PAGE: prnewswire.com (This includes recent Press Releases) E-MAIL: irafm@aol.com EARNINGS: 1997 Revenues: (Estimated) $8.5 Million 1997 EPS: Firamada President expects 10-11 cents (from Conference Call on 1-22-98) 1998 Revenues Projection: $75 - 80 Million Projections are based on revenues and growth from existing offices plus Myriad Employment ($60 Million), 4-6 additional offices (either acquisitions or new offices planned for 1998). Firamada expects a gross margin of 26-30% which exceeds the industry average of 19-24%. In the conference call of 1-29-98, Firamada President indicated that we should see at least $60 Million just from the existing offices (including Myriad) without accounting for growth of those offices. TOTAL SHARES AUTHORIZED: 100 Million TOTAL SHARES OUTSTANDING: Apx 41 Million FLOAT: Apx 10 Million INSIDER HOLDINGS: Apx 31 Million (Virtually ALL Restricted) AUDITED FINANCIAL STATEMENT: Audited Financials are expected in early March 1998. Annual Report Date: March 1st of each year. Unaudited Financial Statement (thru 6-30-97) is available by calling 1-888-831-2442. Here is some information from the Unaudited Financial Stmt thru 6-30-97: Message 3476998 Message 2783503 GENERAL BUSINESS INFO: FAMH is a temporary staffing company. They currently have 6 offices (not including the corporate office at 40 Wall Street, NY, NY). Since several of the offices have been acquired, you may find them under the following names: Encompass Staffing of Success Staffing. FAMH just went public last spring (1997), so this is their first year as a public company. FAMH says their profits are expected to be slightly higher than the industry average because they are moving away from the low margin business (low range bulk temps) and focusing, instead, on the high profit end of the business (upscale permanent placements). Firamada's finance subsidiary created in September showed a net profit of $73,645.25, in its first month of operation. EXISTING OFFICES: Encompass Staffing 67 Wall Street, Suite 2411 New York, NY 10005 (212) 269-4777 Encompass Staffing 2730 North Stemmons Freeway West Tower Suite 1210 Dallas, TX 75207-2256 (214) 688-0711 (888) 523-9962 Encompass Staffing (New office opened in November, 1997) 10850 Richmond Ave Houston, TX 77042 (713) 334-5665 Success Staffing 602 W 6th St., Suite D Rolla, MO 65401 (573) 368-5782 (888) 368-5782 Success Staffing 3020 E Camelback RD, Third Floor Phoenix, AZ 86016 (602) 955-6657 (888) 956-6657 ??? (Small NY Acquisition) ??? Acquired on or about 1-28-98 Still researching address PLANNED ADDITIONAL OFFICES (New & Acquisitions): FAMH is completing an acquisition of Myriad Employment, a private employee leasing company that operates in California and Utah. The company says Myriad did approximately $45-50 Million in revenue for 1997. Of this amount, about $38 Million is in long term contracts. Myriad was acquired for 2.5MM shares of stock, $350K Cash, and assumption of approximately $1.5MM in debt. The debt is also personally guaranteed by the principals of Myriad. The 2.5MM shares are restricted, some for 12 months, some 18 months, and some 24 months. Myriad Employment, 249 E. Ocean Blvd. #800, Long Beach, CA 90802 Phone: 562-624-6277 Fax: 562-624-6292 To facilitate growth by acquisition, Firamada has obtained a $25 Million line of credit from a European firm. I believe FAMH can draw down against the line of credit, but the amount of each draw down is tied to the trading volume for a given period of time. I believe any shares involved are restricted for at least a year. FAMH President has described the agreement as being very "shareholder friendly and management friendly." LONG ISLAND, NY - New office planned to open in the next few weeks. MIAMI - New office planned to open in the next few weeks. CALIFORNIA - Acquisition of another company (in addition to Myriad) is in process. This acquisition is waiting on a probate court hearing in February. NASDAQ or AMEX LISTING APPLICATION: FAMH says they currently meet ALL the requirements for listed as a NASDAQ Small Cap company with the exception of share price. FAMH is considering either NASDAQ or AMEX for listing. The application process is supposed to begin sometime in February, 1998. The process is supposed to take 90 to 120 days. Here is the site that lists the requirements for NASDAQ Small Cap Listing: nasdaq.com Here is the site that lists the requirements for AMEX Listing: amex.com OTHER INFO to Consider: 1) Temporary staffing is a hot industry. It is also a highly profitable industry. 2) Firamada is negotiating a settlement of a disputed tax lien in the state of Texas. A link to order info on Firamada: otcfn.com 3) The predictable thing about rapidly growing companies is that many things are "unpredictable." The dynamics of growth necessitate adjusting to changing circumstances to take advantage of opportunities. Taking advantage of opportunities also carries the element of increased risk. Evaluation of the benefits of "opportunity vs. risk" must also be considered. 4) Ira Monas (President) seems to have a tremendous talent for "negotiating deals." But sometimes the abrasiveness of that talent can easily be offensive to shareholders. CLIENTS: Some of their recent long-term contracts have included Colonia Insurance Company, Coca-Cola Merchandising - Phoenix, AIG Insurance, Republic National Bank, Tokyo Marine, Arizona State University and Arizona Cardinals Football Team (thru Finehost), The Phoenix Suns Basketball Team and The Phoenix Coyotes Hockey Team (thru Restrua), Auto Zone, BF Goodrich Tire Company, Goodyear Tire & Rubber, Hilton Hotels, 1-800-FLOWERS, and General Electric. FAMH IS DRAWING ATTENTION: ED TAXIN'S FINANCIAL HOUR has picked FAMH (Firamada) as one of the "Top-10 Stocks to Watch in 1998." "Ed Taxin's Financial Hour" is on 32 radio stations across the country. The company said this was NOT a paid promotion. Kostech Research has rated the company a buy up to $1.25 INVESTOR RELATIONS: FAMH "Investor Awareness" promotions will be carried on 85 cable TV stations, in-flight talk on United Airlines & TWA, and the Morton Downey Jr Invest America TV Show. These ARE paid promotional programs. Invest America Web Site: cfgworld.com Conference calls to Brokers, Fund Managers, and Investors will continue most Thursday afternoons in March at 4:15 PM (EDT) at 1-800-860-3035. The "replay" of this call can be heard 24 hrs a day for 3 days by calling 1-800-567-1533. Firamada has also publicized recent press releases in INVESTOR'S BUSINESS DAILY (1-2-98 issue) and BARRON'S (1-12-98 issue). INDUSTRY POINTS FROM POSTS ON THE OTHER SI THREAD: "Contract Employee is crucial in all business today as I see many firms and the Government using staffing for many more projects as they are started." - Jim, post #70 "...executive placement which is REALLY profitable." - John, post #72 "Labor shortages will remain a big headache, with many managers particularly worried about the lack of qualified help. More firms will hire temps and lease workers,... a booming business. Let's managers concentrate on their core business while outside outfits handle the hiring, firing, payroll, insurance and job training chores." The Kiplinger Washington Letter ---- Nov 14, 1997. - post #228 "I saw a news show on TV a month or so ago that indicated that the US work force is starting to change drastically. I don't remember the numbers exactly, but it was an extremely high percentage (like 50% to 70% or so) of the working force over the course of the next 5 to 10 years would not be working regular full time jobs. They would be working either for themselves or working temporary jobs. People are wanting to become more flexible in their employment." - Cheryl OD, post #235 Government Addresses Tech Worker Shortage (01/12/98; 7:03 p.m. EST) By Mary Mosquera, TechWeb "The shortage of skilled high-tech workers is so urgent that the Clinton administration announced Monday it will help train more computer programmers and other technical workers. The Labor Department has projected that the United States will need 1.3 million more computer scientists, engineers, systems analysts, and computer programmers between 1996 and 2006, calling it 'America's new deficit.'" (post #1140) INDUSTRY INFO in General: Statistics from the National Association of Temporary and Staffing Services indicate that the temporary employment business is one of the three fastest growing industries in the United States. Staffing Services is a fast growing industry. Here is a post about the industry in general: Message 3462549 FAMH vs. INDUSTRY ANALYSIS (SI post #903 by Dave) 207.183.153.23 INDUSTRY COMPARISON: Message 3043512 Post #1441 by Keiko: Message 3182596 Merger & Acquisition activity in the Staffing Industry: biz.yahoo.com U.S. Corporations Turn to Specialized Staffing Firms: biz.yahoo.com CURRENT QUOTE: cbs.marketwatch.com CHART: tscn.com HISTORICAL PRICING: (Type "FAMH" in the Symbol box) tradepbs.com INSIDER BUYING / SELLING REPORTS: insidertrader.com WHY I LIKE THIS COMPANY: This business can be very easily understood. It is not something that requires years and years of scientific research or something "deep" like that. This is not a developmental company. The company and its business can be visited in various locations across the USA. It is NOT off in some other country making it more difficult to verify. The company is growing rapidly in a very hot industry. Firamada is profitable NOW. PLEASE NOTE: I am NOT associated with FAMH in any way. I am an individual investor with my own opinions. I don't give advice. Questions should be directed to the appropriate source, many of which are listed above. Everyone is urged to do their own research before investing in anything. Best wishes, Brad | ||||||||||||||
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