To Steve and All:
Let's all hope ADVR puts out a release like this with their SB2A get approved!
Monday November 17, 9:33 am Eastern Time
Company Press Release
Franklin's S-1 Goes Effective
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 17, 1997-- Franklin Telecom announced today that it has
received confirmation from the Securities and Exchange Commission that its S-1 filing has been declared effective.
The filing achieves two primary goals. First, it returns Franklin Telecom to full reporting status with the SEC; Franklin will begin
filing 10Ks and 10Qs starting with the quarter which ends March 31, 1997.
The S-1 also registers common shares upon exercise of warrants which were issued in conjunction with a 1995 private
placement. This paves the way for Franklin to realize an additional $2.5 million in cash over the next 60-90 days as the
warrants are exercised.
Franklin's CFO Tom Russell explains, ''Franklin withdrew from reporting status several years ago as a cost-saving strategy
during an extended period of research and development. Our newly developed product line has now come to fruition. The
company is now positioning itself to experience phenomenal growth. The return to reporting status will make it easier for our
shareholders, as well as others who are interested in our company, to follow our progress.''
''Even more importantly,'' Russell continued, ''this paves the way for Franklin to move forward toward NASDAQ listing.
(Franklin is currently traded OTC as FTEL.) We are drawing increasing interest from institutional investors, many of which are
unable to trade in bulletin board stocks. The NASDAQ listing will provide a greater stability and open a new avenue for
potential investors.''
Frank Peters, Franklin's president and CEO, said, ''We are happy to be able to provide registration for the warrants issued in
conjunction with our '95 private placement. The participants in that placement were expressing a confidence in Franklin's future
which is now, two years later, proving well justified. They're going to make a nice profit for their faith, and with the exercise of
the warrants, Franklin will receive an estimated $2.5 million which will go toward deploying our Tempest(R)-based
FNet.Phone network, utilizing IP and the Internet.''
The primary business of Franklin Telecom (OTC:FTEL - news), founded in 1981, is the design and manufacturing of
communications devices, high-speed LAN, WAN, Telco and Satellite Systems and software. Franklin has an installed base of
over 100,000 nodes worldwide. Franklin's Internet subsidiaries, FNet and Internet Passport provide services using FTEL
products.
For the latest up-to-the-minute information visit Franklin Telecom's web site: ftel.com . |
