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

To: sammaster who wrote (33243)	4/30/1998 10:19:00 PM
From: William Harvey	Read Replies (1) \| Respond to of 41046

sammaster, There isn't one answer to your question. If the conversion price were $10, then they could only convert 1/10 as many shares if the price were $1 and the longer they hold the preferred stock, it grows by 8% per year on top of that. What looks like the best situation for the preferred holders could also be the best for us. Imagine what would happen if we get the conditional status with NASDAQ, a few large orders are announced and it's reported that we have already set up a dozen POPs all within a few days. The conversion price is going to stay around $2.75 for a while but the price takes off. It's beginning to look rather likely. Things are coming together now. WH