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

To: Jamey who wrote (38218)10/2/1998 9:38:00 AM
From: Snowman  Read Replies (1) | Respond to of 41046
 
This is the key.



To: Jamey who wrote (38218)10/2/1998 12:16:00 PM
From: Mitch Aunger  Read Replies (2) | Respond to of 41046
 
Santiago,

You said <<all proceeds and FNET stock will go into the FTEL treasury>>

I don't think this is correct.

a) FNET stock will still be owned by FTEL (to the tune of around 50% of the company)

b) All proceeds from the IPO will go to FNET. They are the ones that need the money to create/expand the network. FNET will buy equipment from FTEL and therefore FTEL will gain $$ from those sales.

Hope this is clear. (home with sick children today)

Mitch


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