Your link does not work, sorry. But I found it:
-------------------- 8-K of June 16
On June 9, 1998, Robert Muller and Daniel Mulholland (the "Exercising
Parties") completed the exercise of put options held by each of them under
that certain stock purchase agreement dated November 26, 1996 (the
"Agreement") among DCI Telecommunications, Inc. ("Registrant"), as
purchaser, Muller Media, Inc., and the Exercising Parties, as selling
stockholders of Muller Media, Inc. The put options enabled the Exercising
Parties to require the Registrant to transform the closing consideration of
1,200,000 shares of the Registrant's common stock into cash by requiring
DCI to repurchase the DCI common stock issued as closing consideration for
$3,000,000 upon exercise of the put options. DCI repurchased 400,000 shares
of such common stock in March, 1998 for $1,000,000 and completed the
repurchase from the Exercising Parties on June 9, 1998 upon payment of an
additional $2,000,000.
--------------
----------------- from an earlier 10-K/A of May 20
DCI is required to repurchase the shares for $3,000,000, if Muller
exercises a "put" option which commences on the earlier of 120 days from
December 27, 1996, unless an extension is requested by DCI, which Muller
cannot unreasonably withhold, or 14 days after DCI has received an
aggregate of $3,000,000 in net proceeds from the sale of its capital stock.
An extension was granted by Muller through July 15, 1997. The selling
stockholders also have an option to keep DCI stock or accept up to
$3,000,000 in cash from DCI.
---------------------------------
Musya |
