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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 3.550+1.4%Jan 9 9:30 AM EST

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To: Doug Best who wrote (12250)6/12/1997 3:18:00 PM
From: M Allen   of 41046
 
Doug,

You said "I think your problem is you are looking at financials and the S-1 which do not reflect the company presently."

I replyed "Under securities laws, any material changes to the company whether financial or in business operations must be reflected in the S1 prior to it going effective.

And, under the anti-fraud provisions of rule 10b5, if the only public report is the S1 and people are making investment decisions based upon it, it is strongly advisable that it be kept current.

So what is the company waiting for?

M Allen:"

You replyed "Yawn. Sorry, now you are boring me. Go find someone else to play with."

Doug, I am still waiting for your opinion on whether there is a material change to the company and when the S1 will be updated to reflect that.

And Doug, I am not playing, I am very serious. I spent over $400 in attorney costs and long distance calls to NASDAQ just yesterday to backup my posts. I spent another $300 of attorney time today on the rule 144 issue. Oh, and by the way, I really don't think you are going to be very happy with my future post on that issue.
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