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

To: mark garner who wrote (495)	5/26/1999 7:08:00 AM
From: Noneyet	Read Replies (2) \| Respond to of 2891

I don't think you understand fully what is going on. This information is taken from usat's 10KSB filing made on 4/1/99. This is usat's annual report for the year ending Dec. 31,1998. >>>>>>On January 28, 1999, the United States Securities and Exchange Commission (the "SEC") issued an order directing a private investigation of the Company and temporarily suspended the over-the-counter trading of the securities of the Company. The temporary suspension was in effect from January 29, 1999 through February 11, 1999. The SEC is currently continuing its investigation of the Company. Management is not able to predict whether the outcome of the investigation will be unfavorable to the Company or not.<<<<< I did not insert this "insignificant" item into usat's filing. Did you insert it as a joke ????? Okay, now we go the the same filing again. >>>>>>>>>The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company incurred a net loss of $6,099,388 during the year ended December 31, 1998. These factors, among others, as discussed in Note 2 to the consolidated financial statements, raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.<<<<<< Kindly take note of the losses of $ 6,099,388. Okay, now we go here. usatalks.com Usat's financing according to the above press release is made on Jan. 6,1999. Where did they get the above loss money from prior to Dec. 31, 1998. Also, can you link me to the holders of usat's private placement and / or what institution / individual funded the above $ 8,200,000 ( Eight million two hundred thousand ). " I ASSUME" THESE ARE SOME OF THE QUESTIONS THE SEC HAS !!!!!!!! Perhaps you loaned usat this money and you can clear this matter up!!!!! Again, you do not understand that USA Talks is under SEC investigation currently. Below is another quote from a usat filing made on 5/17/99 10Q. >>>>>>>ITEM 1. LEGAL PROCEEDINGS PENDING OR THREATENED LITIGATION, CLAIMS OR ASSESSMENTS (EXCLUDING UN-ASSERTED CLAIMS AND ASSESSMENTS): SEC INVESTIGATION. By Order dated January 29, 1999, the United States Securities and Exchange Commission ("SEC") issued an Order Directing a Private Investigation of the Company. The SEC then temporarily suspended the over-the-counter trading of the securities of the Company. The temporary suspension was effective on January 29, 1999 and terminated on February 11, 1999. The suspension occurred, according to the SEC, because questions were raised about the accuracy and adequacy of the publicly disseminated information concerning, among other things, the status and extent of the Company's business operations. Although the temporary suspension has ended, the SEC is continuing its investigation of the Company and no assurance as to its outcome can be given. <<<<<<<<< Pay particular attention to the sentence below !!! Which differs from the first usat disclaimer regarding the SEC investigation. >>>>>>The suspension occurred, according to the SEC, because questions were raised about the accuracy and adequacy of the publicly disseminated information concerning, among other things, the status and extent of the Company's business operations.<<<<<<<<< Continue on in that same filing and read about other litigations. Again, did you loan usat the money in the face of all this ???????? This post is long enough, I have questions about franklins shares outstanding, I will ask those questions in my next post.