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

To: StockDung who wrote (40524)	1/30/1999 3:40:00 PM
From: Jamey	Read Replies (2) \| Respond to of 41046

flodyie, thanks for the background check on ASAT principals. "An SEC spokesman says that the agency is looking into whether USATalks has made adequate and accurate disclosure of matters that are material to investment decisions. Further investigation into the company reveals numerous details that were not disclosed in its public documents. Portnoy claims the information did not have to be disclosed." Why do you think they call them BB stocks? Answer= BUYER BEWARE! Santiago

To: StockDung who wrote (40524)	1/31/1999 2:00:00 AM
From: mark garner	Respond to of 41046

this article sounds more like an indictment of USAT's mgmt's past dealings than anything else. one point of the article: just because a caller gets a busy signal does not mean that the technology does not work! it means that they didnt plan properly for the incoming traffic at the particular POP for incoming phone calls. for those out there that think that USAT is some kind of scam because the technology does not work...WRONG WRONG WRONG! now, i cant comment on anything else regarding USAT other than what i see in USAT press releases is nothing out of the ordinary or inaccurate, IMO one final comment: this is the FTEL board. keep the USAT news over on the USAT board. continue with your gloating over there. this news has no affect on FTEL, other than there may be some doubt as to what will happen with future orders.

To: StockDung who wrote (40524)	1/31/1999 10:44:00 AM
From: JHP	Read Replies (1) \| Respond to of 41046

SEC MAKES NEW RULES_WILL FTEL QUALIFY to KEEP ITS BB LISTING? Press Release: NASD Announces SEC Approval of OTC Bulletin Board Eligibility Rule Washington, D.C. -The National Association of Securities Dealers, Inc. (NASD®), today announced that the Securities and Exchange Commission (SEC) has approved the NASD's proposed OTC Bulletin Board Eligibility Rule. This rule permits only those companies that report their current financial information to the SEC, banking, or insurance regulators to be quoted on the OTC Bulletin Board® (OTCBB), offering investors more and better information about OTCBB stocks. Under the new rule, Market Makers will not be permitted to quote OTCBB-traded securities unless the issuer has filed periodic reports with the appropriate regulatory agency. The filing requirement protects investors by ensuring that they have access to companies' current financial information when considering investments in OTCBB-traded securities. "Thorough and accurate information is the foundation of sound investment decisions," said Frank G. Zarb, NASD Chairman and Chief Executive Officer. "By requiring the half of all OTCBB companies that currently do not provide publicly-available financial reports to join the half that do, we will take a major step toward improving the quality of the microcap market. We are pleased that the SEC has approved our proposal to effectively eliminate non-reporting companies from the OTC Bulletin Board." Under the new rule, any domestic company that does not file periodic financial reports with the SEC, or with banking or insurance regulators, will be eliminated from the OTCBB after a phase-in period. In April 1998, the SEC required all foreign securities on the OTCBB to be fully registered with the SEC in order to remain quoted. The new requirement applies immediately to any company first quoted on the OTCBB after January 4, 1999. Securities already quoted on the OTCBB as of January 4, 1999, will have until at least July 1999 to comply with the new requirements. The rule will be phased in over a 12 month period beginning in July 1999 and continuing through June 2000 in alphabetical increments based upon the company's name as of January 4, 1999. In June 2000, the rule will apply to all companies on the OTCBB. The filing requirement also means that these companies are subject to greater regulatory oversight by the SEC and other regulatory authorities. The OTC Bulletin Board is a quotation service that displays real-time quotes, last-sale prices, and volume information in domestic and certain foreign securities. Eligible securities include national, regional, and foreign equity issues; and warrants, units, and American Depositary Receipts (ADRs) not listed on any other U.S. national securities market or exchange. Although the OTCBB is operated by the NASD, it is unlike The Nasdaq Stock Market® or other listed markets where individual companies apply for listing and must meet and maintain strict listing standards; individual brokerage firms, or Market Makers initiate quotations for specific securities on the OTC Bulletin Board. Currently, approximately 6,500 securities are quoted on the OTCBB ------------------------------------------------------------------------ Posted: Jan 30 1999 11:54AM EST as a reply to: Msg 52986 by futurekaut Replies: View Replies to this Message