I find it rather amazing that you are now pointing to stocks such as IBM in which people sat for a decade in loss positions. Are you now saying that to get even, shareholders are going to have to wait very long term? You know, there is an old saying that a long term investment is a short term investment that went bad.
I am sure you were very well intentioned and not deliberately intending to mislead anyone when in:
reply #3535 you stated: "If was given a description of a company such as you just gave and knew nothing about the company or the stock, I would have to guess you were talking about a high-tech stock worth $30 minimum. That may sound like hype, but I am sincere"
and in Reply #3774 you stated: "It IS worth more than $5 today. I think its worth at least double that. And, I will go out on a limb, pull out my crystal ball, and say that FTEL will be $10 within 3 weeks. I think they have some significant news in the pipeline and that institutional interest will push us to $10."
Again, I am sure you did not intend to deliberately mislead anyone, but tonight in reply 12070 you stated: "At any rate, the only MM I am aware of that holds warrants is MH Meyerson. I have been consisently told that MH Meyerson likes what they see with Franklin...hold onto it for $6 or $8 in the summer. Now, this is quite different than what I was told a few months ago."
You are saying this is new information and different than a few months ago, and yet two months ago, when after reading the S1 in detail, I suggested that Bob sell at $3.25 and he emailed my reasons to several other shareholders you replied by Email:
"The thing that Bob does not understand is that a lot of the selling shareholder stuff is just accouting type information to describe who gets what regarding the acquistions. The exercise of the warrants requires that additional shares be registered, and I believe that some of these shares are being offered by insiders to be registered for additonal stock needed for the warrants. Shares that used to be treasury stock will now become registered stock as a result of the warrants being exercised.There is a restriction as to how much of the stock issued to the warrant holders can be sold. Also, you make think this is bullxxxx, and PLEASE keep this to yourself, but my broker, who works for one of the FTEL market makers has said why would we sell the stock after we exercise the warrants when we can wait 3 months and sell it for $7?"
So Doug isn't it true that you were making the same claim of information from MH Meyerson 2 months ago?
Doug are you really so naive as to believe that MH Meyerson would tell you when they are going to sell? Doug do you realize that if Meyerson was interested in investing rather than trading that they could exercise the warrants and buy the stock without the S1 and under rule 144 they could sell the shares in 1 year without any S1 being filed? Doug did you read in the S1 where "Also, the largest Warrant holder, M.H. Meyerson & Co., Inc., has agreed to reimburse the Company for up to $70,000 in legal and accounting fees incurred in connection with the Registration Statement of which this Prospectus is a part." Doug, if they weren't going to sell their shares then why spend $70,000? Why Doug?
The "Dirty Dozen" are always talking about due diligence. Well I have done mine and as far as shares under control of market makers who are listed in the S1 are concerned, I will give you the benefit of my due diligence by listing 5 of them today: Wilson Davis, Sam Wilson, Paul Davis, Lyle Davis and Byron Barkley. If you want more I will be happy to list some more tomorrow.
To all other FTEL shareholders, my comments are only related to my opinion that in the short term, as the S1 nears completion, FTEL's stock will approach the warrant price of $1.35. I am not telling you to buy, sell or hold this stock and I have no opinion as to the stock price on a long term basis. Who knows, on a long term basis Doug may be right.
And by the way, not all of the "Dirty Dozen" were pushing the stock at $5.00, I gained a lot of respect for RB when I saw his posts where he cautioned that buying at that level should only be done as a long term investment. |
