Judith,
After looking over your post to me, I think I can assist in answering some of your questions, in the post I'm responding to, you asked;
>>>> While you are asking questions, please ask about sales of equipment other than the Tempest, and what the current income is from FNET subscribers.<<<<
This is taken from Ftel's most recent SEC filing Jan. 27, 1998. Link below.
freeedgar.com
The Company has incurred operating losses in each of its last three fiscal years and and for the three months ended September 30, 1997, and has an accumulated deficit, as of September 30, 1997, of $9,935,000. The Company's operating losses have resulted from a number of factors, including reduced demand for the Company's legacy hardware products, increasing expenses relating to the development of new hardware products, expenses related to installing the infrastructure for the Internet services business of its majority-owned subsidiary, FNet, and increasing sales and marketing expenses
to promote new products and services.
While the Company's revenues for the year ended June 30, 1997 showed a
significant increase over the revenues for the prior period, 38% of the increase was due to sales of the Company's Wide Area Network products to a single customer, Revco Drug Stores. Such products are technologically dated, and the demand for them during the period was due principally to expansion of the business of the customer that already had a significant investment in a wide area network utilizing the products. Accordingly, there can be no assurance that revenues for subsequent periods will remain at these levels, and it is unlikely that the Company will receive significant additional orders
for its Wide Area Network products from this customer or others.
" Please peruse the parts referenced above re; legacy hardware products and wide area network products."
You also asked if I would call Ftel and ask frank if he felt that his salary was excessive ? I would assume the answer to that is obvious, as he has been part of the board that votes on that issue, and in fact assists in assigning his salary. That is not an abnormal practice. I only question the amount taken or owed to him, during this product transition period.
Also, Judith, I have a question that I would like to ask, didn't you not too long ago, cancel your Ftel ISP account, because you were displeased with their service ?
Tom |
