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

To: Martin P. Smith who wrote (24695)	1/9/1998 1:15:00 PM
From: s b	Read Replies (2) \| Respond to of 41046

Warrants were for FNET not FTEL, at least according to remarks by founder. The warrants were for $1 per share of FNET. Quated from founders page below.. "As you know, the S1 filing with the SEC to register warrants issued in the 1995 FTEL private placement went effective on Nov. 13, 1997. We have also raised $7.4 million in a FTEL private placement of convertible preferred shares which closed on Nov. 24, 1997." "This regulation D private placement of Preferred Shares are convertible into one share of the Company's common stock and contain a warrant to purchase one share of the Company's subsidiary FNet Corp. at $1."