FRANKLIN TELECOM (FTEL) Message Board

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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 0.673

-4.9%

3:42 PM EST

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To: topwright who wrote (199)	10/23/1996 10:19:00 AM
From: Marshall Cromwell	of 41046

Thanks for your input Raleigh... Issue 2 (The "enigma" issue) is the one that I am most interested in tracking. Although I am neither an accountant, nor lawyer, I understand that FNET can be created ("emerge" might be the better term here) as an entity that has no direct value to FTEL stockholders. What I mean to say is, under certain FNET ownership scenarios, if FNET shares rise 20%, that does not mean FTEL shares will rise as well. My impressions of the first scenario being tossed around (FTEL retains 40% ownership of FNET) would not necessarily be beneficial to FTEL stockholders. Under the new contractual relationship with DCTC, it appears that they will not give up the 60% (40% to DCTC - 20% to Financier) that was originally posted... we must still wait to see what occurs w/ the bridge financing and (hopefully forthcoming?) IPO though. My understanding is that, as long as FTEL retains over 51% of FNET, FTEL stockholders should benefit (or not) directly from FNET. Please correct me if I am wrong. If they do not retain 51%, FNET will probably not appear on FTEL's balance sheet. M

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