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Technology Stocks : FRANKLIN TELECOM (FCM) -- Ignore unavailable to you. Want to Upgrade?

To: Seth L. who wrote (1374)	7/15/1999 4:39:00 PM
From: detroit denny	Read Replies (1) \| Respond to of 2891

thankx for the following By: sethy Reply To: 16711 by capitalguyThursday, 15 Jul 1999 at 4:10 PM EDT Post # of 16718 Thank you capitalguy I appreciate you saying that very much. Please someone correct this if they see a need to. Also nothing is written in stone. FCM as of this date owns aprox 70% of FNET. Apparently to allow Franklin shareholders to receive spinoff shares from FNET without capital gain consequences to the recipient, the parent company must own 80% of the spinned company (FNET). This will be achieved in 3 stages that I know of 1) Currently as it stands FNET owes FCM money for services, hardware, etc.. FCM (us) will in return for forgiving this debt will receive additional value (shares) ownership of FCM. 2) Frank will also give a large % of his shares for future consideration. Now, before you jump down Franks throat, he is fully aware of what the immidiate perception to that statement will be. He assured me that he will not be greedy at all here. 3) The last PP which drew very little interest was closed and the participants were given options to pull their money. somebody else can fill the gaps i have to go HTH SethySeth