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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)
FTEL 0.955-22.4%3:59 PM EST

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To: William Harvey who wrote (40571)2/1/1999 8:18:00 AM
From: JHP  Read Replies (1) of 41046
 
If the wall street journal story is accurate about USAT-- where is the money to pay Ftel for their hardware?????????????????????

To: mark garner (40570 )
From: William Harvey Monday, Feb 1 1999 6:14AM ET
Reply # of 40573

There's an interesting discussion in the Wall Street Journal about USA Talk. In a way, this relates to Frank picking up 2M shares at 10 cents on January 5th. I don't blame the WSJ for defending value investing. They would be guilty of hype if they weren't the referee.

As of September 30, the company had liabilities of $782,318. Its assets were $86,088. It had an accumulated deficit of more than $5 million. It had no revenues. As of Sept. 30, cash and cash equivalents had melted to $29,900. At the same time a year before that, it had cash of about $189,950.
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