Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Seth L. who wrote (37915)	9/23/1998 11:01:00 AM
From: VALUESPEC	Respond to of 41046

Seth, it was a pleasure not getting flamed by anyone. Thank you for addressing my question. <<PP will be with FNet shares not Ftel . This in the long run may dilute Ftel ownership a might but the money raised will be well spent towards driving this company down the road towards profit.>> In the past, Frank was given shares in FNET at about .015 cents per share. I wonder who will be buying the FNET private placement shares and I wonder what they will be sold at. I wonder what would stop the company from selling many shares in FNET at a very low price to his friends, etc. I'm not saying this is what they will do, but what would stop a company from doing this? Frank's purchase @ .015 cents per share was based on the book value of FNET. Has FNET's book value gone up that much? If not, will FNET shares sell for only a few pennies? If FNET shares will sell for many dollars more, then why did Frank get his shares so cheap? Does that seem fair? Seth, I ask these questions because option grants and favorable debt conversions like Frank got are used by many companies to enrich their managements. Some would argue that they are even enriched unfairly. Regarding the FNET funding, I was not exactly sure what was going on. Thanks for clearing up the fact that it is an FNET private placement. That should be OK for the FTEL shareholders, but that will depend on how it will be done. It seems to me that the real value in FTEL will be FNET. So if they give away FNET unfairly by selling the private placement shares poorly, FTEL shareholders, in essence, will be cheated. I was not impressed by the numbers Frank gave out on the Officer's Update because, as someone else said, the numbers don't seem to add up to much anyway. Also, in the past, Frank's messages have been hypish so I expect that a lot of hype was in the most recent message, too. However, we won't know how much was hype until the future judges his words. In the past, his words have not been judged well, in my opinion. Despite my many criticisms of this company, I really have no opinion on FTEL at these prices. I did offer caution because of the stock sales, and I see that as a problem until the first of June 1999. However, I don't know how many shares have not converted, so maybe FTEL holders will get a pleasant surprise before June 1, 1999. Here is a thought worth trying for FTEL holders who want to know how many shares remain to be converted: Contacted the stock transfer agent to see how many shares there are. If you know how shares are issued and outstanding, perhaps you could calculate how many shares are yet to be issued. William, have you tried that? Anyway, I wish FTEL shareholders the best. Again, don't forget about the 10K. According the CFO's message on August 18, it was supposed to be out the third week of September. Has anyone called to find out what the delay is? It's not that late, yet, but this is the beginning of the forth week. FTEL: .84a VALUESPEC