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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 3.025-1.8%Jan 14 3:59 PM EST
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To: VALUESPEC who wrote (29140)3/2/1998 9:41:00 AM
From: Jack Sman  Read Replies (1) of 41046
 
Valuespec ~ Talk about the convertibles and what happens if IPO does not take place by June 30, 1998: It seems you answered your own 'question' with the link you provided from George. You dishonest, manipulative shill, you! It seems to be the additional registration of the Series C preferred shares in a majority sense, about 1.85 million shares converted from the preferred shares. These shares are being registered now, but cannot be converted until March 1998. At that point, they can be converted into FTEL shares at the lesser of (a)$4.64 each, or (b) between 80-85% of the market value of the common based on closing prices around conversion. All this IF a FNET IPO has not happened by JUNE 30, 1998. ~ Jack
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