News, Bruce, I blame you LOL.
Franklin Telecommunications Secures Financing for
Sales/Marketing and Global Network Expansion
WESTLAKE VILLAGE, Calif.--March 27, 2000--Franklin Telecommunications
Corp. (AMEX:FCM) today completed a round of financing, whereby the
company will receive $6.2 million from an institutional investor group
in exchange for shares of common stock and warrants.
Funds will be used to retire a $2.5 million 10% note, finance the
expansion of the company's IP/VoIP equipment sales, and increase
traffic capacity of its global IP network subsidiary, FNet.
"We are increasing our sales and marketing commitment to drive
revenues from equipment sales to the enterprise and carrier markets,"
said Tom Russell, Franklin's chief financial officer.
"Product visibility and awareness is a key to revenue growth,
whether through TV, print ads or direct sales. We plan to not only
increase our TV ad budget but also strengthen our sales force
substantially, primarily to develop greater global presence."
"Traffic through FNet is growing, and we have received inquiries
from prospective customers indicating potentially multiplicative
increases in traffic," continued Russell. "For FNet to handle normal
growth plus any large customer(s) requires significant expansion of
our current capacity."
Franklin Telecommunications Corp. is a maker of high-speed IP and
VoIP telephony equipment, which enables high-quality transmissions of
data, voice, fax and video over the Internet. Franklin's next
generation telephone company subsidiary, FNet, provides global IP
networking services and complete business solutions utilizing Franklin
equipment and IP/VoIP technology.
Franklin holds patents and copyrights, including its proprietary
designs and technologies and AMAS software, which provides user
authentication, call tracking, and customer billing integration.
For additional information about the company: www.ftel.com -- for
Franklin's IP Telephony Hardware and Equipment; www.fnet.net -- for
Franklin's Next Generation IP Telephone Service.
Certain statements in this news release constitute
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual
results, performance, or achievements of the company to be materially
different from any future results, performance or achievements,
expressed or implied by such forward-looking statements.
CONTACT: Franklin Telecommunications Corp.
Tom Russell, 805/373-8688
or
Silverman Heller Associates
Dan Matsui/Gene Heller, 310/208-2550 |
