Let's revisit some of this insider selling business. All of which is taken from public records, as in ftel.com's filings.
Statement from PRE 14A of ftel.com's filed 5/17/99.
>>>>>>>>>>>>>>>>>To the Company's knowledge, based solely on the Company's review of such reports or written representations from certain reporting persons that no Forms 5 were required to be filed by those persons, the Company believes that during the year ended December 31, 1998 filing requirements applicable to its officers, directors, and other persons subject to Section 16 of the Exchange Act were in compliance, except that Forms 4 were not filed for sales of securities.<<<<<<<
That last sentence WHAT DOES IT MEAN ?? "except that Forms 4 were not filed for sales of securities".
Here we have Vickers giving Frank Peters share ownership
marketguide.com
Peters, Frank W. DIR 09/28/98 Buy 20,000 $0.69 4,825,893
Peters, Frank W. DIR 09/28/98 Priv Buy 570,000 $0.35 5,395,893
Peters, Frank W. DIR 08/26/98 Buy 50,000 $1.63 4,805,893
( remember the "GLORIOUS" headline 08/26/99 EXECUTIVES DEMONSTRATE CONFIDENCE )
ftel.com
From the above we can see the total owned on 09/28/98 is 5,395,893.
However,the following is taken from PRE 14A of ftel.com's filed 5/17/99.
>>>>>>The following table sets forth information regarding the ownership of the Company's Common Stock as of May 3, 1999, by (i) each of the current directors and nominees for election as a director of the Company<<<<<<<<<<
HERE IS THAT TABLE;
Name and Address Shares Percent of
of Beneficial Owner Beneficially Owned (1) Class (1)
------------------- ---------------------- ----------
Frank W. Peters 5,325,893
THERE ARE 70,000 SHARES MISSING, WHERE ARE THEY ???????? Is this an error in reporting ????? If not, where is that confidence the executives demonstrated ?????? Or is this the actuality of the statement "except that Forms 4 were not filed for sales of securities".
Not too bad Joe, not until you stop to wonder what are the new and additional 6,254,000 shares registered for ??? as the CFO said "not to worry, the shares will not be hitting the market all at once ".
OF COURSE NOT !!!!!!!
exchange2000.com
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