passed on by a friend:
To: JHP (who wrote...)
From: Wednesday, Feb 3 1999 3:28PM ET
John,
I thought you might be interested in posting this on Ftel's S.I. board
ragingbull.com
THE TREND MAY NOT BE YOUR FRIEND!!!!!
Lets' try and "IGNORE" some more.
Chairman's message Feb 1, 1999
ftel.com
Excerpt follows:
>>>>>1. USAT has been a customer since first FQ last year. Our FY starts July 1.<<<<<<<<<
Ftel's press release Jan. 20,1998
biz.yahoo.com
Excerpt follows:
>>>>>>WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Jan. 20, 1999-- Franklin Telecom (OTC BB:FTEL) Wednesday announced that its Tempest Data Voice Gateway has been named the backbone for Internet telephony at USA Talks.com (OTC BB:USAT), the first flat-rate long-distance carrier.
This relationship has been in place since November, and the two companies have been working together to bring California up by Jan. 31, 1999. The network is now fully operational.<<<<<<<<<<
Now the press release says that Usat & Ftel relationship has been in place since November, but the Chairman's message say's Usat is a customer since FQ and that starts on July 1, 1998. Is that just some type of confusion or a play on words?????
This next news release from Usat Dec. 1, 1998 makes the above even more confusing.
biz.yahoo.com
Excerpt follow:
>>>>>>>>SAN DIEGO, Dec. 1 /PRNewswire/ -- USA Talks.com, Inc. (OTC Bulletin Board: USAT - news) announced the receipt of all necessary funds for the first phase of the equipment installation scheduled by January 1, 1999. This equipment installation includes five additional super points of presence and will enable the USA Talks.com network to reach 90% of the U.S. population by year-end.
Allen Portnoy, Chief Executive Officer, commented, ''The receipt of these funds is a green light for the Company in its scheduled installation and national network coverage. We are excited about the positive response from our investors in making USA Talks.com's flat rate long distance network a reality.'' <<<<<<
Now Usat says they have the funds for the equipment Dec. 1, 1998, and then make another press release on Jan. 6, 1999 saying they received the money, is that two different loans??
biz.yahoo.com
CONFUSED YET ??????
Chairman's message Feb. 1, 1999.
Excerpt follows:
>>>>>>>>2. We have shipped many systems to them and have installed and continue to build and manage a substantial network for them.<<<<<<
>>>>>>>4. They pay their bills on time in cash, often, in advance.<<<<<<<<
If the reader looks at Usat balance sheets filed with the SEC, it is clear Usat has no money prior to there so called receipt of financing. Or if one can take Allen Portnoy's word BIG GRIN HERE!!!! At best he was only able to pay when he received his financing and Allen Portnoy's confused about when that actually happened. How did Usat pay for the equipment in FQ July, 1, 1998 ????
BUT WHO DID EVENTUALLY LOAN ALLEN PORTNOY AND USAT THIS 8..2 MILION DOLLARS? CAN WE FIND OUT ?????
MAKES YOU WONDER JUST HOW “ MANY “ SYSTEMS WERE SHIPPED DOESN'T IT ??? CAN ANYONE FIND OUT ???
AND IF MANY WERE SHIPPED, HOW “OFTEN” DID USAT PAY IN ADVANCE??? CAN ANYONE FIND OUT ???
edgar-online.com
Here's another item from Usat's filings,
edgar-online.com.
>>>>>>>NOTE 9 - REVERSE STOCK SPLIT
In 1997, the shareholders approved a 1 for 1,000 share reverse stock split. This change has been made retroactive to the beginning balances of this financial statement. At the time of the reverse split, the company reverse split all shares to no less than 100 shares. All shareholders holding less than 100 shares were not changed.<<<<<<<<
What shareholders approved that ???????
But, Portnoy tryed to make it up to those loyal shareholders recently with the new 4 for 1 normal split. He's not that bad I guess.
Tony's S.I. note on Usat early this AM !!!!!
exchange2000.com
>>>>>>>I can tell you for everyone that goes away 10 get away..but that escape brings them back and eventually we tag them...as former bad guys..like PORTNOY of USAT blew up Digitech..then started USAT a month ago took the stock to 50 from 3 ..then I got it halted..and poof ..over night his money was all gone...thats how we get em in the long run.<<<<<<<<
Does anyone here know the terms of Franklin's AT&T settlement yet??
Just some more to "ignore".
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