Temp -
Thanks for the site. I tried going there but apparently it is down. I'll try tomorrow. You're right about the little things. If we were to find fault with FTEL management, it would not be with their technology, but with items such as you've pointed out. It's a whole package. I think up to now man hour bandwidth has been an issue. Establishing FNET management should help.
In the final analysis, if we knew what FTEL/FNETs current actual goals/targets are (published as well as unpublished, including motivations for decisions) we could easily measure their progress and assess our investments more realistically. Based on the minimal information we have been given thus far, this is impossible. Again, this could be Frank keeping tight control to avoid leaks that lead to damage control. Personally, I do not feel that I can assess my investment until the actual hw/sw initial implementations have been performed and are producing revenue, the company lets us know if there are indeed big players involved (WCOM included), the investment backing has been secured and funds made available, actual quarterly DVG sales figures, hw/sw upgrades TBD, communication between the company and its investors improve, and the final plans for the IPO have been announced.
This is a totally different set of requirements I have today compared with those I had when I originally invested in FNET. The reason is the refocus of the corporation's key objectives, the advances FTEL's competitors have made since Q4/97, the delay from the original target date for the IPO, and the market's current requirements to launch a successful internet IPO. Obviously I wanted an IPO last year and this year to be the year of heavy capital investment based on the funds available from the IPO, and 1999 to be the year for real revenues to be produced.
Pragmatically speaking (I am not being negative here) it remains to be seen if FTEL/FNET will be successful in their endeavors. On the plus side, we have excellent management, $7 million to fund the company's current debits as well as some initial expansion, and best of show hardware/software.
One final observation: I believe FTEL/FNET management to date has underestimated the influence of the SI threads; where Frank discounts the FTEL thread, many other company CEOs are reportedly either reading their threads first-hand or have subordinates report on their respective threads in order to keep a pulse on the share holders. The internet is a powerful tool when used correctly to disseminate and gather information. I think the FTEL share price could have been stabilized at a much higher level (thus qualifying FTEL) for NASDAQ listing) had SI been effectively used - observe the DGIV and INFE threads for example.
My money is up front, on the table, 'betting' that they will be successful, and we all in turn will be as well.
Everyone have a great week!!
-George |
