Firma Holdings Corp. (FRMA)

[Sam Dan]

[An 8K was filed by FRMA
Very disturbing-to put it mildly!!

"In the third quarter of 2015 Sicilian Sun Limited and its subsidiary, Sicilian Sun Foods, began production of Gelato for its major US client. In spite of delays on certain raw materials, multiple containers were delivered in August and September.

Prior to this, critical banking facilities needed to manage payable and receivable cycles had been vowed by the company’s Italian bank. In spite of continual meetings and recommitments from the bank, in early September, the absence of the banking facilities began to affect production. Additionally, in early September, there was torrential flooding in Eastern Sicily that resulted in electrical damage at the factory and a “State of Emergency” for the region. As a result, production was halted and, as of January 21, 2016, the plant has not resumed operations.

While seeking other funding sources, the company also began negotiations with a potential partner that could bring needed resources. In Mid-November, a letter of intent was signed for the sale of Sicilian Sun Limited and Sicilian Sun Foods, with a targeted closing date of December 31st, 2015. Further negotiations resulted in a new closing date on, or before, February 5th, 2016. Details of the transaction will be revealed with the signing of the definitive agreement. Less
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