FRANKLIN TELECOM (FTEL) Message Board

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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 0.515

-6.4%

3:59 PM EST

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To: Randy Brummitt who wrote (21308)	11/14/1997 5:08:00 PM
From: Martin P. Smith	of 41046

Good point. according to the S-1 FTEL holds approx 71%. " As of June 30, 1997, the Company owned approximately 71% of the common stock of FNet, with the balance owned by members of management, including the Company's President, and certain investors. " If FTEL only own 71% then to own 60% after the IPO the IPO would be 11% taking ftel from 71% down to 60%. so 120 is 11% then 100% = (120 / 11) * 100 = 1090 million seems high to me (GGGGGG). I think the following is more likely. The IPO is for 40% of FNET leaving 60% for existing shareholders/owners then FTEL has 71% of 60% = 43% thus we have 43% of 300 = 127 million approx 7 per share given an 18 mill float. Martin

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