FRANKLIN TELECOM (FCM) Message Board

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Technology Stocks : FRANKLIN TELECOM (FCM)

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To: detroit denny who wrote (2771)	6/25/2000 10:50:00 PM
From: Bruce Hoyt	Read Replies (1) of 2891

A good summary of the current situation from the fcm_bull on yahoo: by: fcm_bull 6/25/00 12:22 pm Msg: 11182 of 11183 If you've been off-board for 2 months, then you have some catching up to do. Here is some info... Much of this is still unsubstantiated, but I for one believe there is intent to follow through with the claims. Lovettlion turned out to be more then just a poster complaining that he wants to see the board of directors and ceo ousted. He is involved with a group which is taking real action to do just that. And this group seems to have some muscle behind it in terms of lots of voting shares. Rumor is that some big PP participants from the past are backing this which gives this movement the needed shares (this is just speculation), plus they are having no trouble getting many small to medium sized longs to vote against the board. Many on the stock boards have sent back their proxies or voted on www.poxyvote.com against the current board. The group has filed in court against fcm, ceo and cfo to have the shareholders meeting delayed. Look on friday...some kind of case number was posted, but the actually filing has not...look for it this week. The group is trying to get the shareholders list from fcm. They plan on sending out a second proxy to all the shareholders to vote on new candidates for the BOD's. The plan seems to be to vote in a majority BOD and fire ceo and cfo and put in new ones which will work for the shareholders and not their own wallets. There is speculation that this group is bringing more to the table then just new faces. What they bring unknown, could be deals or whatever. Jolly is the voice of the group on the board. Fartislit2 also has contact with them. They cannot release all information and plans at this time as the group is being advised by lawyers and will release information as appropriate. I suggest you get your proxy and vote how you feel about the current board...if unhappy with results, you may consider voting along with those supporting this movement. I also suggest watching this and the RB board to stay current on fcm events and this movement. Good luck!

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