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

To: larscot who wrote (35107)	6/22/1998 12:52:00 PM
From: Gary R. Owens	Read Replies (1) \| Respond to of 41046

Larry, It's all on the CFO's page: ftel.com MESSAGE FROM THE CFO June 2, 1998 Nasdaq has informed us today that our Company has been conditionally approved for inclusion into the Nasdaq SmallCap Market. The listing is subject to the Company maintaining a minimum $4.00 per share closing bid price requirement for at least ten consecutive trading days on or before September 2, 1998. This is Very good news indeed. The 10-Q results for the quarter ended March 31, 1998 were recently filed with the SEC. In summary, our sales were $325,000, with a net loss of $1,412,000. Although, the sales are slightly ahead of last quarter, the Data Voice Gateway (DVG) sales are not a material factor, as yet. Most of the DVG shipments to date have been for evaluation purposes, and thus cannot be booked as sales. The feedback from customer evaluations so far has been positive. Many customers will be able to purchase the DVG systems as they exist, i.e. enterprise systems whereby companies can use the DVG for voice calls between their offices worldwide. However, other customers would like us to implement many of the features we have on our engineering task list before they will purchase. The engineering tasks required to complete our full feature set will be completed over the next few months. Some of the features will be available in a couple of weeks, others will take a few months. In any case, the features should translate into sales. Our Company has a strong cash position, with approximately $7M in the bank. With our recent private placement and exercise of warrants, we believe the Company is in a good position to begin the initial deployment of the FNet network and support hardware sales for Franklin. We are also in discussions with several tier one investment bankers about funding the full deployment of the FNet network. You can access the 10-Q on the SEC's EDGAR site, or get your copy by contacting Helen West, shareholder relations at (805)373-8688. Thank you for taking the time to read about our Company. -- Tom Russell