Firma Holdings Corp. (FRMA)

[JNG85]

Updated Spreadsheet

I had some request to update the spreadsheet to show some hypothetical numbers if the other mines owned by TARM were put into FULL 480 TPD production and how that would translate into earnings and PPS. I also added a tab to show what I expect the Don Roman mine to do next year once the mine is running at its full capacity of 480 TPD. I DID NOT include any guesstimates concerning the San Felipe vein as I'm not sure if they will expand the current Don Roman mine or just have one 120 TPD line dedicated toward the San Felipe gold.

As always, these numbers WILL CHANGE as I get new info and slowly piece together the TARM profit potential puzzle. However, so far it looks really promising.

JNG

Link to the Spreadsheet:

http://spreadsheets.google.com/pub?key=tj3ufr5Me6n2jzC8fjlwUPg&output=html