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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 0.659+1.4%Nov 21 9:30 AM EST
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To: Randy Brummitt who wrote (38244)10/2/1998 7:05:00 PM
From: David D.  Read Replies (1) of 41046
 
Randy, on the last page of the 10-k it states:

Subsequent to June 30, 1998, 115 shares of Series C preferred stock valued at $1,046,000 converted into 919,266 shares of common stock.

Using that formula: 919,266 common/115 series C = 7,993 SHARES of Common Stock PER share of Series C.

If that is the case, the 431 preferred shares LEFT TO CONVERT would be 7,993* 431 = 3,445,249 Shares of Common Stock.

Is my math and understanding correct?

David D.
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