Here is a update from Kathy taken from a post on another BB........
ragingbull.com
I spoke with Joe Murphy the CEO of DCI Telecommunications this morning. He said that the lease financing on the switches and the financing on the working capital are both in final stages. We should hear something by the middle of next week on both of them. The lawyers handling the paperwork for DCI are Holland & Knight.
I did a search on them and found the following web site and information.
hklaw.com
Holland & Knight, LLP is one of the largest legal firms in the world, and has more than 800 lawyers practicing in more than 75 diversified areas of the law. The firm has offices in Atlanta; Boston; New York; Northern Virginia; Providence, Rhode Island; San Francisco; Washington, D.C.; 10 cities throughout Florida; and Mexico City, Mexico.
Joe told me that Holland & Knight is taking a more proactive role with the company's business. He has also set up a meeting with members from Deloitte & Touche. He is trying to decide which of the top 5 accounting firms he wants to hire. These are all good steps in my book. A company has to be doing very well with revenues and earnings to afford to hire these companies.
Joe said DCI has about 115 employees (up from the 43 when I first wrote the report) right now but he is actively searching to double that figure because the company is growing so fast. He is looking for people who know something about the switches and how they work and a CEO to run the European division of DCI. If anyone knows of a top executive somewhere who speaks Spanish and knows the Telecom industry very well and is willing to relocate to Spain, he would be interested in receiving resumes.
Contact:
DCI Telecommunications, Inc.
611 Access Road
Stratford, CT 06615
203-380-0910 phone
203-380-0915 fax
Joe estimates that they are running somewhere around 3 ½ million minutes of billable time through the existing European switches right now, which is up exponentially from 100's of thousands of minutes. Once the new switches are put in there will be an explosion of new revenues for DCI coming through them.
From here he has begun to work on a new set of switches (3 or 4) once the current lease financing is in place. He said (very excitedly) that England and Denmark are already profitable!
That's all I have for now.
Kathy Knight-McConnell
Investor to Investor
investortoinvestor.com
For more information on DCI Telecommunications check their web site at: dcic.com
Join us for discussion of the merits of DCI Telecommunications on the Raging Bull at:
ragingbull.com
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