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

To: Jack Sman who wrote (34344)	6/1/1998 10:59:00 PM
From: William Harvey	Respond to of 41046

Thanks, Jack. About 2:1 in favor of sales all day. 20.6k/offer to 38.7k/bid. Two blocks of 5k along with a 4k were sold. Today's conversion day. I think they've been holding on to all their shares for the last three months. By that estimate I'd guess the preferred holders own about $4.4M in preferreds that they can convert at $2.5/share, that's 1.8M shares plus. On the bright side, just one and a half months to go. Another thing, since they have cash, they can double up. WH