Mike however consider this into that Float/Share discussion for ETEL:
<<The Company issued 1,725,000 Redeemable Common Stock Purchase Warrants in its initial public offering, effective April 7, 1997. Under the terms governing these Warrants, e-Net may, for $.05 per Warrant, redeem the Warrants that have not already been exercised and converted to a share of e-Net common stock at an exercise price of $5.25, if e-Net's common stock closing bid price equals or exceeds $10.00 per share for a thirty consecutive trading day period. Such a period ended on May 14, 1998. The common stock that underlies the Warrants is registered under a post-effective amendment to the Company's initial public offering registration statement, which was declared effective by the Securities and Exchange Commission on May 7, 1998. The redemption notice and accompanying prospectus are scheduled to be mailed to the registered holders of the Warrants on Monday, May 18, 1998, and the redemption is scheduled for Friday, June 19, 1998.>>
Looks like the float will more than double, since according to Yahoo Profile, there are only 1.5 Million in the float currently.
Also before praising them to highly look at their last Q,
<<Sales for the third quarter ended December 31, 1997 were approximately $164,700>>
Compare that to FTEL's $325,000 for the same period. Almost double.
With that said, I like ETEL and the fact that they are marginable, I am sure has made ETEL's investors very wealthy, since a lot of folks who bought in at 4-5 dollars, and were marginable at 12, now sitting at 18. I know what my plan is for FTEL, and I am sure they are the same as many ETEL investors have had the good fortune and opportunity to do. To me it shows more and more, why I am buying FTEL at these prices!<GGGGGGGG>
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