I've seen this don another way. If one person qualifies, he or she can purchase, then transfer to others in the group. If organized as an investor club, then this would place a limit of members of, I believe, 36 people. Of course, you would have to find someone that the group could trust with their money until he or she could effect the transfer. I haven't read this offering, but did talk about the last one with Frank Peters during my visit to the firm. He was very pleased with the way the 1 million shares went. It was all sold in about 12 days. I assume that this stock is 144 stock, i.e. it cannot be traded in the secondary market for a period of time.
On another note, my visit to FTEL on 9/12 was very interesting. The staff is really quite small, but each person I met seemed very knowledgeable. Paul brought up his machine on their T-1 line for me and we logged onto SI. The "people graphic" came up immediately without hesitation. They were working on web home pages at the time I visited them. Also, a lot of testing of new boards. I saw a whole pile of rejects which apparently will have to be reworked. I saw the GTE cable next to their servers. The servers are in a separate room and arranged side-by-side and stacked vertically in a single line for easy access. I didn't see many of the engineers who tend to come in late and work late. |
