FRANKLIN TELECOM (FTEL) Message Board

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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 0.647

-11.6%

3:58 PM EST

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To: Cindy Cannon who wrote (12633)	6/23/1997 2:37:00 AM
From: M Allen	of 41046

Cindy, I appreciate your well written and thoughtful post. However, let me clarify a couple of items. First, I am not referring to warrants for which investors paid $.50. I am referring to the large number of warrants that were given, at no cost, to investment bankers/market makers for promoting the private placement. Second, in regards to 144 filings I repeat a previous post. Reg 230.144 of the Federal Securities provides that the form 144 can be filed "concurrently with either the placing with a broker of an order to execute a sale of securities in reliance upon this rule or the execution directly with a market maker of such a sale." There is no requirement that the form 144 be filed in advance. Further "The person filing the notice shall have a bona fide intention to sell the securities referred to therein within a reasonable time after the filing of such notice." I am not stating that any insider has or has not sold stock. I am only stating that some of the posts on this board about why they have filed form 144's may be incorrect.

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