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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: LowtherAcademy who wrote (24583)	1/8/1998 5:52:00 PM
From: Ray Burke	Read Replies (1) \| Respond to of 41046

To: Himanshu (24166 ) From: elk Tuesday, Jan 6 1998 11:27PM EST Reply # of 24587 Himanshu, Welcome, I didn't see you here and answered the post on the other thread. Right now there is somewhere between 17-18 million shares of FTEL, I believe, but am unsure of the exact number, becaused they received 7 million in financing in return for stock. That price was set during a time period that just closed. They probably paid somewhere between $4-5 per share. People familiar with my math skills will understand why I will leave the calc.'s to others<GGGG>. The plan for the last two years is to IPO FNET. <<1.Raise $2,000,000 via a Private Placement of FNet shares at $1.00 per share to finish the design and acquire certain software assets to complete the Franklin Data Voice Server (DVS). Finished April,1997. 2.File an S-1 Registration Statement with the SEC to register warrants for FTEL Stock granted in 1995. This should raise $2.5 Million - non dilutive. Finished Nov. 13, 1997. 3.Raise $7,000,000 in up to 3 steps to facilite through a private placement of FTEL stock for production of the Data Voice Server. Finished Nov. 1997. 4.Raise $100,000,000 via a public offering of FNet at a pricing range of $10 to $15 per share to grow the operation and deploy the FDVS in 25+ countries. In Preparation.>> ftel.com This is the press release here they announced FNET as Telco: ftel.com There are a great many knowledgable people here who I am sure will provide any information they can. I will also try to answer any questions I can. Evan