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

To: kphone who wrote (39682)	12/21/1998 9:40:00 PM
From: a. paisley	Read Replies (1) \| Respond to of 41046

sell sell take your tax loss cause you made money somewhere else sell sell

To: kphone who wrote (39682)	12/21/1998 10:30:00 PM
From: Brett S.	Read Replies (1) \| Respond to of 41046

Ken, A UCC as I understand it is a Universal Commercial Credit form that is filed with the state that says that said property (i.e. Stock, equipment,etc...) listed on the form is owned by the company and title/ownership has not passed but user (Mr.Peters)has right to use/purchase said equipment/stock at some future point in time. A UCC2 is unknown to me(could mean Amendment). This may mean Mr. Peters does not get them right away and thus can not sell them right away..... I know this is not exact but this is a good thing for us shareholders as his 1.4 million shares from these options will not be hitting the market any time soon ... someone help me on this too....

To: kphone who wrote (39682)	12/22/1998 1:20:00 AM
From: Daine Newman	Read Replies (2) \| Respond to of 41046

ss.ca.gov Uniform Commercial Code Section " The California Secretary of State's Office has been the central filing office for certain financing statements and other documents provided for under the Uniform Commercial Code since 1965. The intent with the majority of the filings is to perfect or preserve security interest in named collateral. A financing statement is a document stating that someone (a secured party) has a claim (security interest) in certain property (collateral) belonging to someone else (debtor). To illustrate; a business owner borrows money from a bank and uses the assets of a business as collateral for the loan. The bank as the "secured party" will probably file a financing statement with the UCC of the Secretary of State's Office. By filing a financing statement, the bank establishes establishes its priority in the event the business owner files for bankruptcy or becomes insolvent. This gives notice upon search of records to other banks and/or lenders (or anyone else who might be interested) that the secured party has a "perfected security interest" in the business' assets. If other secured parties file statements naming the same debtor and collateral, dates of filing set up a priority for payment on a first in time basis. Judgment liens, attachment liens, agricultural liens and equipment liens are also filed in the UCC section, as well as, various tax liens submitted by state and federal taxing agencies, such as, the Franchise Tax Board and the Internal Revenue Service. " I am not a lawyer. But don't think this protects shareholders. Appears to protect Frank. Agree? Disagree?