<PAGE> 1
<TABLE>
<S> <C> <C>
- ------
FORM 4
- ------ -------------------------------
OMB APPROVAL
U.S. SECURITIES AND EXCHANGE COMMISSION OMB NUMBER: 3235-0287
WASHINGTON, DC 20549 EXPIRES: SEPTEMBER 30, 1998
ESTIMATED AVERAGE BURDEN
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP HOURS PER RESPONSE 0.5
/ / CHECK BOX IF NO --------------------------------
LONGER SUBJECT TO Filed pursuant to Section 16(a) of the Securities
SECTION 16. FORM 4 Exchange Act of 1934, Section 17(a) of the
OR FORM 5 OBLIGATIONS Public Utility Holding Company Act of 1935
MAY CONTINUE. SEE or Section 30(f) of the Investment Company
INSTRUCTION 1(b). Act of 1940
(Print or Type Responses)
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
Peters Frank W. Franklin Telecommunications Corp. -- FTEL to Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- X Director X 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ----
733 Lakefield Road Number of Reporting Month/Year X Officer Other
- --------------------------------------------- Person (Voluntary) October 1998 ---- ----
(Street) ------------------ (give title below) (Specify below)
Westlake Village CA 91361 5. If Amendment,
- --------------------------------------------- Date of Original
(City) (State) (Zip) (Month/Year) --------------------------------
11/10/98 7. Individual or Joint/Group Filing
------------------ (Check applicable line)
X Form filed by One
---- Reporting Person
Form filed by More than
---- One Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
Common Stock 9/28/98 P 500,000 A $.35 5,325,893 D
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).
SEC 1474 (7-96)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
-----------------------------------
Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
EXPLANATION OF RESPONSES:
November 19,
**INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. /s/ Frank W. Peters 1998
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a). ------------------------ -------------
**SIGNATURE OF REPORTING DATE
PERSON
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED. PAGE 2
IF SPACE IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE. SEC 1474 (7-96)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB NUMBER.
</TABLE>
