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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 3.080-6.1%Jan 13 3:59 PM EST
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To: vic klimpl who wrote (35265)6/25/1998 10:34:00 PM
From: OHL  Read Replies (1) of 41046
 
Vic, My understanding from my reading the FTEL SEC filings is that nothing, I repeat NOTHING is scheduled to happen on June 30, 1998 concerning the Institutional Investors.

My understanding is that if their is no FNET IPO by June 30, 1998 the institutional folks then must exercise a CHOICE IN WRITING to FTEL by on or before JULY 30, 1998 or July 31, 1998 (can't recall exact date at the moment believe it to be either the 30th or 31st of JULY) of either staying with FNET warrants or choosing FTEL warrants. I have never understood all the posts surrounding the date of June 30, 1998?

The only thing I know to involve Franklin on June 30, 1998 is the end of the current quarter and the end of the present fiscal year.

Also , if memory serves me correctly I think you will find that
the Institutional Investors have until sometime in May 1999 (next year) to convert their original FTEL preferred shares. I believe the dates on converting some warrants are even possibly much further out than that ie. some FNET warrants.

The above is my understanding from reading the FTEL SEC filings and I could very well be wrong in my understanding. I would hope every serious investor takes the time to read and understand the edgar filings and surely most people do.

Debra
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