FRANKLIN TELECOM (FTEL) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 3.025

-1.8%

Jan 14 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jack Sman who wrote (33237)	4/30/1998 9:35:00 PM
From: William Harvey	Read Replies (1) of 41046

Thanks, Jack. FTEL was split about as even as it gets today: 31.3k/offer vs 31.4/bid. The only big block traded was a sell for 13k at 11:16. Tomorrow is the start of a new conversion period. As the price of conversion for preferred class c holders is pegged by 85% of the average closing price for the last 20 days, I've toted up the average: $3.22 for the last 20 days and 85% of that is $2.74. By my guesstimate, there are about 1.1 million shares waiting to be converted at this price {$7.4mil40%(1+.087/12)/$2.74}. $7.4mil=total of preferred holding, 40%=two months of unconverted holdings, .087/12=appreciation after 7 months at 8%, $2.74=conversion price. The reason it's so high is because had the preferred holders converted in April at any time, they would have lost money. I'm not real sure that even half of the March conversions were exercised either - which certainly means they may be in for the long haul. They can put conversions off for up to a year and gain 8% per annum for their patience. Thanks, Darrel for the info on conditional listing. WH

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next