To: Himanshu (24166 )
From: elk
Tuesday, Jan 6 1998 11:27PM EST
Reply # of 24587
Himanshu, Welcome, I didn't see you here and answered the post on the other thread.
Right now there is somewhere between 17-18 million shares of FTEL, I believe, but
am unsure of the exact number, becaused they received 7 million in financing in return
for stock. That price was set during a time period that just closed. They probably paid
somewhere between $4-5 per share. People familiar with my math skills will
understand why I will leave the calc.'s to others<GGGG>. The plan for the last two
years is to IPO FNET.
<<1.Raise $2,000,000 via a Private Placement of FNet shares at $1.00
per share to finish the design and acquire certain software assets to
complete the Franklin Data Voice Server (DVS). Finished April,1997.
2.File an S-1 Registration Statement with the SEC to register warrants for FTEL
Stock granted in 1995. This should raise $2.5 Million - non dilutive. Finished Nov. 13,
1997.
3.Raise $7,000,000 in up to 3 steps to facilite through a private
placement of FTEL stock for production of the Data Voice Server.
Finished Nov. 1997.
4.Raise $100,000,000 via a public offering of FNet at a pricing range
of $10 to $15 per share to grow the operation and deploy the FDVS in 25+ countries.
In Preparation.>>
ftel.com
This is the press release here they announced FNET as Telco:
ftel.com
There are a great many knowledgable people here who I am sure will provide any
information they can. I will also try to answer any questions I can.
Evan |
