here are my answers to your post.
i will prefix Seth's original comment
your reply with Tom/Tony and finally
my answer.
since i have been having problems getting
this message up, i took the liberty of
eliminating some of your links and just
answering the question
TOM/TONY
A few questions first, before I respond to your list of items ? Do you
know if Sparrow Marcioni is still with franklin ? She is listed as the
VP. of fcm. Additionally, this site lists the current employees as 20. A
poster recently claimed 75 employees ? The information in the link below
states it was updated 06/19/1999.
The power of merging voice and data networks, and the resulting
possibilities, are so tremendous, that they cannot be ignored.
-William E. Hamlin, Chief Technology Officer, Franklin Telecom
Has Kevin Kuykendall also left. He was Fnet's president on June 12,
1998.
MY ANSWER
the company has tried to contact the sources
such as Yahoo to get them to update the number
of employees several times to no avail.
sparrow is gone, Kuykendall is gone, i believe
Hamlin is still there.
SETH
Revenues have shown positive increase for 5 successive quarters
culminating with this last Q. I quote Frank Peters "On April 30, 1999 we
filed our 10Q for the March quarter. Sales for the quarter were
$4,270,000. Net income was $382,000. Earnings per share were $.02"
TOM/TONY
I think it is safe to assume the bulk of revenues reported was from usat
and jm best ? My opinion on those customers to follow.
MY ANSWER
the majority of the revenues have come from JM Best
and USAT but the company is expanding its revenue base
with the likes of Vodavi, Cybervoz, and other unnannouced
customers
SETH
Fnet revenues have increased steadily even though they were poorly
managed up until Peter Buswell took over
TOM/TONY
There was a major jump in revenues reported in the Q just passed. Will
that continue, you seem to think so, however, I don't know, and will not
speculate.
MY ANSWER
FNET revnues should continue to ramp up as customers
are added to the FNET network (USAT and the unnamed
customer from the "spanning the globe" pr and Bosnia
etc) FNET recieves off net charges for these customers
SETH
On that same subject Bosnia network is currently earning $120,000 per
month pro rate that system alone out its earnings are on a pace to
achieve $1,440,000.00 per annum. Fact is that network minutes are still
growing and so is the network.
TOM/TONY
FNet purchased the Bosnia equipment from Harris Telecommunications
Systems for an undisclosed amount and will operate the network with
Virginia-based Megaburst Inc., a company specializing in engineering
development for technology companies throughout the US and Europe.
The article above states the Bosnia network produces revenues in excess
of $ 100,000 per month. I assume that figure is what you are basing your
prediction on ? However, above, I highlighted a part of that same
article that states, this network is being operated with Virginia-based
Megaburst Inc. How are the revenues for this network distributed between
these two firms ( franklin & Megaburst )????
MY ANSWER
i am not sure what the exact distribution is with
megaburst. but the biggest potential growth item
in FNET revenues will occur as customers are added
which will use FNET. see my above answer.
SETH
1 year ago this month Peter Buswell becomes COO of FTEL. Look back and
see why this is a positive fact. (No Brainer) He now runs FNET as well.
I quote Frank Peters regarding Peter taking over FNET "In nine months,
Peter Buswell has achieved phenomenal results in jump-starting sales and
revenues for Franklin. I don't know of anyone more capable of creating
the same success at FNet"
TOM/TONY
About 14 months ago today, James L.Magruder became CEO of fnet corp. A
look back will show that this turned out to be a disaster. I quote from
frank regarding James L. Magruder at that time. Franklin Telecom's
President and CEO Frank Peters stated, "This is a momentous occasion for
Franklin. Securing someone with Jim Magruder's talent, experience and
associations within the Telecommunications industry means that FNet
Corp. will have the leadership it needs as it becomes independent of the
parent company. He has both the business savvy and the technical
expertise to lead FNet forward in the emerging Internet Telephony
marketplace."
Mr. Magruder was served with injunctive relief papers recently, as we
know. It is worthy of note here, that his response to the injunctive
relief papers filed by franklin, is not in hand as yet.
As far as I can tell Peter Buswell has two positions, one in fnet, one
in franklin. For an analysis on that, refer to franklins filings with
the SEC about management attempting to run the two corporations at the
same time. I believe it was quoted in those filings as being a negative.
Fnet as the subsidiary and franklin as the parent.
MY ANSWER
i think everyone was excited with the influx of new
talent at the time. magruder just didnt produce.
Buswell has and continues to produce as you can
see from the ramp up from 500K to 4 million a qtr.
I WAS ELATED TO SEE BUSWELL GET RID OF MAGRUDER AND
TAKE OVER FNET! he has already restructured the
FNET business plan and i am confident he will produce. |
