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Microcap & Penny Stocks : DCTC / FTEL / FNET
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To: RON JANOWSKI who wrote (1227)10/1/1996 6:03:00 AM
From: JOE MEDSKER   of 1624
 
To; Ron Janowski
From: Joe Medsker

The $10 million that was coming from the RANA group seemed to pick up a few strings as it went along, simply put RANA would have received 20% of FNET with a total float of 50 million shares. As I understand it, as the deal progressed RANA wanted more control. I believe that both Joe and Frank preferred to look elsewhere for the bridge financing. As to why FTEL just doesn't take the 10 million from RANA and keep 80%; this is because FTEL needs 100 million to make FNET work not 10 million. Thus the reason for the IPO and DCTC. Joe Murphy has the contacts and the expertise to bring FNET to reality.
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