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

To: William Harvey who wrote (32290)	4/19/1998 9:43:00 AM
From: STK1	Respond to of 41046

Thank You very Much William ,I was wondering bout that.

To: William Harvey who wrote (32290)	4/19/1998 11:18:00 AM
From: Bruce Hoyt	Read Replies (1) \| Respond to of 41046

William, if the warrants go to FNet shares then Franklin will still own around 63-65% of FNet (15.8/~25 million shares). In order for FTEL to retain over 50% control of FNet then the IPO would be limited to ~6-7 million shares (plus any PP holders who want to sell). If Frank still wants to clear $120 million (for FNet's portion) then that prices the IPO around $20 a share. Or he could IPO less shares at a higher price (now I'm dreaming:-)). The warrants don't make any significant difference either way. All depends on whether we find/found that equity partner and what the underwriters think. I have a feeling its all decided already and they will let us know in time. My goal is to be rich by XMAS so I'm leaving them some leeway on the timing<g>. Bruce