Dear fellow Shareholder of Tels Corp.
It has come to my attention that the NASD has notified the company of
their deficiency regarding the fact that their trading price of .37
cents is under the required 1.00 bid. The company was notified of this
deficience in January of 1998 and given several extensions. As of today
July 24, 1998 Telscorp is still not in compliance with the trading rule
which is resulting in the company losing its small cap status and being
demoted to the bulletin board. Tels Corp is in compliance in all other
aspects but needs a bid price of $1.00. The board of directors were
notified of this fact earlier this year but have apparently done nothing
to rectify the situation. The past 2 year trading average has been
under .50 per share making it very apparent to all investors that the
board and the management have no desire or motivation to protect the
investors "small cap listing position", since it does not affect their
management fees or paychecks. It only affects the company investors
which will further decrease the share value should Tels Corp be demoted
to the bulletin board. It should be noted that most reputable
investment firms are not allowed to trade the bulletin board stocks.
This matter has become critical to any and all investors in Tels Corp.
I cannot believe that the board and management is allowing this to
happen. I strongly urge all investors and shareholders of Tels Corp to
contact the company immediately and demand a resolution to the issue
before its too late, as the board has already received a formal
"deadline of August 2, 1998." TIME IS OF THE ESSENCE !!!!
The Board of Directors cannot be allowed to stick their heads in the
sand and allow this to happen. As Investors and Shareholders, CALL them
and demand action, so that the NASD can be given a decisive plan whereby
the smallcap listing will remain intact. Time is the ultimate factor.
Action must be taken now. It is imperative that all concerned
contact the board and management of Tels Corp TODAY ! to demand action.
It is the boards fiduciary responsibility to ensure the protection of
the investors and to maximize shareholder profitability. It is the
investors responsibility to ensure they do it.! When you look at the
principles and management of the company it is apparent that it is
somewhat of a family-managed operation. It is unfortunate that they are
not concerned with the families of the investors. The board and
principles are and can be reached as follows:
Tels Corporation....705 East Main Street, American Fork, Utah Zip 84003
phone.......801-756-9606 fax.........801-756-9135
Individuals responsible within Tels Corp;
Dr. John Gunter, Diane Gunter, Sean Gunter, Willard Gardner, David
Doyle, Stephan Nelson, Ming Chen, Melody Rasmussen, John Moses
CALL NOW, TOMORROW MAY BE TOO LATE. AS AN INVESTOR/SHAREHOLDER, SHOULD
TELS CORP BE DELISTED TO BB, I WILL BE LOOKING FOR FELLOW SHAREHOLDERS
TO JOINTLY SUPPORT A CLASS ACTION SHAREHOLDER SUIT AGAINST THE DIRECTORS
AND MANAGEMENT OF THE COMPANY. |
