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

To: VALUESPEC who wrote (38241)	10/2/1998 3:54:00 PM
From: vic klimpl	Read Replies (2) \| Respond to of 41046

hey you finally got it right publically. congrats 1997 was a good year but we will have to hear from France to seeif it was as good as 96.

To: VALUESPEC who wrote (38241)	10/2/1998 4:37:00 PM
From: Darrel Orpen	Respond to of 41046

Appreciate the reference, VS. My understanding is there is no exemption for shares being sold without declaration by senior insiders. There could be a number of reasons (and I'd be guessing at any of them) his outstanding shares differed from one reporting period to the next. For example, the report on the number of shares he owns states this total includes "SHARES BENEFICIALLY OWNED (INCLUDES EXERCISABLE OPTIONS)." Therefore, the total outstanding shares Frank Peters owns as at that date is a number which includes all shares obtained if all his outstanding options were exercised at that date. If he does not exercise those options and their expiry date passes in the next quarter, then the next reporting period would declare less shares owned by Frank Peters but he would not have disposed of any. This is one example (and I'm not saying this was what occurred) of how outstanding shares change from one reporting period to the next without any sale occurring (GAAP accounting rules can do amazing things!). I'd like to see a greater measure of confirmation of this volume of shares being sold other than there simply being a difference in number of outstanding shares between quarters (does if mean he bought 700,000 shares if his outstanding shares increased by that amount? Not likely). Anyone else have a reference? Darrel Orpen