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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today
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To: Steven R. Bergman who wrote (9991)10/30/1998 12:59:00 PM
From: James Harold Alton   of 19331
 
Steven, This phrase refers to the general market decline which made it more difficult for companies to get financing, especially the large amounts of financing that DCI would have liked to have gotten, since it could have helped speed up the growth of the company at that time. One purpose of this financing would have been to complete the Locus acquisition for all cash. DCI had the option available to complete that deal using a 1 year restricted 10 million $ convertible issue, but given the 7.5 million shares the deal was structured with + the convertible, it was wisely decided to not complete the deal using equity, as given the progress the company had made in revenue growth in other areas, that acquisition would have actually lowered our revenues per share. Besides the actual purchase of Locus using cash, there would have also have been a need for additional $$ to expand their switch base. This is the connection between "liquidity crunch" and deciding to not close Locus.

James
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