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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 0.815+1.6%3:32 PM EST
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To: elk who wrote (32365)4/20/1998 4:28:00 PM
From: David Flood  Read Replies (2) of 41046
 
ELK Well lets see. Since you want to go down this "rat-hole"

From recent 10-q

"The primary source of cash was net proceeds generated from equity financing. The Company has relied on sales of new shares and the exercise of warrants and options to fund operations for an extended period of time."

This statement appears in almost all the 10-Q. The recent dip in price is/was attributed to the "dumping" of shares acquired by the equity financiers who opted out to get their rewards for accepting FTEL warrants and share equity at 1-2 dollars per share (tidy profit when they dumped at 4-5).

The compensation paid to Frank in shares at (millions at .01 per I think) although probably warranted for deferring normal compensation, would, by some standards, to be considered excessive. Considering the price and market price the value makes him a solid candidate for the multi-multi Millionaire club somewhat at our expense.

If there is such a lack of cash to properly pay the execs in dollars, providing exorbitant amounts of common stock, preferred stock or warrants at ridiculous value WILL dilute OUR shareholder value and enriches the corporate insiders again at our expense. I am not sure this is a price we should pay.

Please say it ain't so. Again flames may be sent to either VS.com or garbage_recycle.com

AGAIN JUST MHO

...Dave Flood
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