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

To: Pat Garaffa who wrote (33533)	5/7/1998 5:48:00 PM
From: topwright	Read Replies (1) \| Respond to of 41046

Pat, those are some very good questions. Although I can't answer for Franklin, it is my belief that the funds would remain under the dictates of Franklin, to be utilized in the initial build out of FNET's Network. Until such time that FNET spins out as an IPO they would remain officially as a subsidiary of Franklin Telecomm, running under their own management. At least that is my understanding. Assuming "the primary network" will be built out by the time FNET IPO's, it is my guess that the referenced money will pretty much be depleted in the process. Remember the reason for the IPO is to raise the funding for the completion of FNET as a GLOBAL communications provider. I'm sure that those funds will divided up into percentages, and allocated for equipment, operations, marketing, and advertising. My reply of course is general, and I'm sure you would need to speak to the company for a detailed breakdown. Hopefully this was of some help, rb

To: Pat Garaffa who wrote (33533)	5/7/1998 8:55:00 PM
From: george willse	Read Replies (1) \| Respond to of 41046

Pat and All - Your question: "Now that FNET is considered a seperate subsidary of FTEL, what happens to the cash in the FTEL bank that was raised to create the FNET network?" ========================================= I talked with Tom Russell this afternoon. The $$$$$ stay with FTEL. FTEL will lend funds to FNET to start implementing the FNET network. Note, however, this is not near the amount required to do the full global installation. FYI, FNET is not a "spinoff" of FTEL; it is a subsidiary. Separate management team with their own objective of making FNET a success. I recommend that if you have more questions, call Tom. It was a pleasure to talk with him. Note that he did not answer about a 4th of my questions, as it was proprietary information - I let him know that I was extremely offended by his unwillingness to answer all of my questions! I am posting FNET specific info on the FNET thread later tonight. Pat's was a crossover question that could be answered here. Cheers, George