is this a positive also SETHY?Well this is taken directly from Ftel's S1/A Dated 1/27/98. Quoted from that document ( page 36 ) see below.
>>>>DESCRIPTION OF CAPITAL STOCK
The Company is authorized to issue up to 90,000,000 shares of Common Stock,without par value, of which 15,394,515 shares of Common Stock have been issued and are outstanding. Holders of the Common Stock are entitled to one vote per share on all matters to be voted upon by the shareholders, and to cumulate votes in the election of directors. Holders of Common Stock are entitled to receive ratably such dividends, if any, as may be declared by the Board of
Directors out of funds legally available therefor. See "Dividend Policy." Upon the liquidation, dissolution, or winding up of the Company, the holders of Common Stock are entitled to share ratably in all assets of the Company which are legally available for distribution, after payment of all debts and other liabilities and the liquidation preference of any outstanding Preferred Stock.
Holders of Common Stock have no preemptive, subscription, redemption or conversion rights. <<<<< |
