RE:RE:Oops..I was Wrong
OK , for the sake of our newer investors and readers, here goes: FAM made the purchase of Remco in Oct.31/2013 for about $3M, took out a 12% debenture on it ( not very good terms) with the obligation to pay down the principle each quarter (15% of gross sales) along with interest. Had Remco not proven to be a AWSOME MONEYMAKER for them ( 2&3 quarter 2014 EBITDA of $1M and $1.25M), they would have been out of business by now. Instead ,last year they managed to pay down $1,471,861 of the debenture principle, or roughly half. The expectation going forward this year (given sales remain the same or better) is to finish paying off the debenture. You do not have to be a math whiz to understand where things will go from there, once the Remco debenture is paid off. The above reason is why the financial community is showing support for this company and believe in their future. No one can predict exactly what the future holds for any company - that is why the stock market is such a volatile place. I am simply an investor with a long term investing style who happens to believe that this company has a good future ahead and has seen the bottom of their debt curve. The MARKET will tell us just what they think of the company over the next year or two when it comes to the share price. By the way, anything that any of us have to say on this board has very little impact on that. This board is meant to be simply an avenue for sharing opinions and information - good, bad or otherwise. I have stated my motive before as to why I am here on this FAM bullboard. What about our critics? If it is simply to warn others of the risks-good for them! However,readers may want to check the long,written history here and ask themselves what hidden agendas may be lurking amongst some of our critics? Unless I see something written too far out of whack, or a new investor has a question to be answered, I am planning to spend less time here. I believe that some of these topics are now getting way too worn out. Best wishes to all... Panther10