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Microcap & Penny Stocks : FNet=Internatl Voice/Fax/Data&Video Services ViaInternet

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To: Stephen B. Temple who wrote (342)	11/26/1998 10:25:00 AM
From: Al Krasberg	Read Replies (1) of 609

Anybody have a feel for what's going to happen to the number of shares issued and FNET ownership? There were 20M shares owned by FTEL originally. Frank 'bought' 4.2M of these for book value, or 1-1/2 cents/share. A bunch of us bought 2M (??not sure of actual number) more of these from FTEL for $1/share. That leaves FTEL with 13.8M out of 20M, or 69%. Sutro is about to come through with perhaps ??$15M?? in preffereds that will convert at ??$1.50/share?? If those numbers actually happened, that would leave FTEL with 13.8M out of 30M, or 45%, with the IPO (if IT ever happens) still to come. Any other info out there to refine these meanderings?

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