Franklin Files for NASDAQ Listing
Business Wire - January 12, 1998 09:41
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Jan. 12,
1998--Franklin Telecom announced today that the company has filed an application for listing on the NASDAQ National Market System.
Franklin's stock is currently traded OTC as FTEL.
Franklin's CFO, Thomas Russell said, "We believe NASDAQ can
provide greater exposure and stability in the long run. Both the
Company's shareholders and officers have had the desire to make this move. Now that we are qualified, we are especially pleased to be able to transition to NASDAQ in a timely manner because of the great current interest in the Internet Telephony business, our Company's focus. Our Shareholder Relations Department has sent out literally hundreds of Investor Packets that have been requested during the last few weeks and the greatest number of them have been sent to brokerages and institutional representatives. The question they keep asking is, "How soon can you move onto NASDAQ?"
According to Franklin's president and CEO, Frank Peters, "This is the realization of one of our corporate goals. 1998 finds Franklin at a "break-through" point. Our product line and service capabilities are designed to keep us on the cutting edge of the emerging Internet Telephony market. It naturally follows that we need to take Franklin to the next step for our shareholders. By moving to NASDAQ, our stock will be able to move beyond certain restrictions that limit bulletin board stocks. This is particularly pertinent to the many institutions that are prohibited by their charters from dealing in companies which are not listed on one of the major exchanges. Because of NASDAQ's emphasis on high tech, I believe this is a logical move for Franklin."
The average length of time for processing an application for NASDAQ
listing is 8-10 weeks.
The primary business of Franklin Telecom (OTC:FTEL) founded in
1981, is the design and manufacturing of communications devices,
including Internet Telephony products, high speed LAN, WAN, Telco
and software. Franklin has an installed base of over 100,000 nodes
worldwide. Franklin's Internet subsidiaries, FNet & Internet Passport, provide services using FTEL products.
Certain statements in this press release constitute "Forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements. |
