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

To: vic klimpl who wrote (33431)	5/5/1998 3:16:00 PM
From: Seth L.	Respond to of 41046

THERE IS ONLY ONE NUMBER THAT IS RELEVANT.CASH ON HAND TO ROLLOUT NETWORK AND CONTINUE ENHANCEMENTS TO THE PRODUCTLiquidity and Capital Resources Thanks Vic! to that end I site this from filing: "Cash and cash equivalents and net working capital totaled $7,869,000 and $7,499,000, respectively, as of March 31, 1998. The primary source of cash was net proceeds generated from equity financings. The Company has relied on sales of new shares and the exercise of warrants and options to fund operations for an extended period of time. The Company received $1,109,000 and $10,055,000 in equity financing, for the year ended June 30, 1997, and the nine months ended March 31, 1998, respectively. Its subsidiary, FNet, raised $1,950,000 for the year ended June 30, 1997 and $373,000 for the nine months ended March 31, 1998. FNet has continued to experience losses, due to the growth nature of the Internet services business and development of the Internet Telephony business. In addition to the equity financing described above, the Company's President has deferred portions of his compensation, and has on occasion, converted debt to equity, in order to preserve the Company's cash.