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Technology Stocks : FRANKLIN TELECOM (FCM) -- Ignore unavailable to you. Want to Upgrade?

To: detroit denny who wrote (432)	5/21/1999 4:45:00 PM
From: TOM MICALE	Respond to of 2891

Can you provide any details? THANKS

To: detroit denny who wrote (432)	5/21/1999 6:21:00 PM
From: Noneyet	Respond to of 2891

What the hay is going on here ????? Quoted from ftel.coms (gggggg) 10 Q filed 4/29/99. >>>>>>NOTE 4--CONTINGENCIES Legal Proceedings On April 5, 1999, the Company's subsidiary FNet Corp. ("FNet") filed a lawsuit to rescind an employment contract and to seek damages from a former terminated employee. The employee subsequently filed a claim with the Texas Work Force Commission, requesting full compensation under the employment contract. FNet plans to vigorously contest the action. There can be no assurance that FNet will be successful in its lawsuit, or defense of the action brought by the former employee. An adverse outcome would not have a material adverse effect on the Company's financial condition. <<<<<<<<< The results of this lawsuit should be very enlightening in view of this release. We go right to this article below "PRESS RELEASE BY FRANKLIN" !!!! Soon to be Ftel.com, nice game change the name for the .com internet searches. ftel.com A quote from Ftel.com follows; >>>>>>>James Magruder has left to pursue other interests. As part of additional restructuring within FNet, Peter Buswell, President and COO of Franklin Telecom, is now Acting COO of FNet. Franklin's Chairman and CEO Frank Peters commented, "In nine months, Peter Buswell has achieved phenomenal results in jumpstarting sales and revenues for Franklin. I don't know of anyone more capable of creating the same success at FNet. Ron Weaver is Peter's handpicked partner for this endeavor-indeed, Peter's attitude, after coaxing Weaver onto the team, could only be described as gleeful."<<<<<< The above is interesting because ftel.com issued this PR on April 16, 1999. Yet they filed a lawsuit on April 5, 1999 stating that they are seeking damages from a terminated employee. Which way is it ? Is the lawsuit mentioned in the filing against James Magruder or someone else ? If it is against James Magruder, someone at ftel.com is confused. He either quit or was fired ? More to follow on selling stock. How much stock will be sold ???? How much is registered to sell. How many options do "The Employees hold" ? Will the shareholders be aware when stock is being sold ?