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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today
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To: Juli who wrote (7621)8/8/1998 11:12:00 PM
From: James Harold Alton   of 19331
 
Jewel, This is good news to me, since this tells us that most of the Series E shares have already been sold for sure. (this would mean that of the total 2 million worth of Preferred E, that at least $1,389,950, which was converted into 899,273 shares have already been sold) The annual report tells us that the remaining $610,050 of series E preferred was converted into 368,304 shares sometime after 3/31/98 and I think it's likely that those shares have been sold as well. This would mean that we could account for 899,273 of "overhead" having been accounted for between 3/31/97-11/1/97 and the 368,304 during the period from 4/1/98-the present. I am sure that the proceeds from that issue went to good use, I believe it bought us switches and infrastructure in Europe that will be used in the TimeWorldCom JV if I remember this correctly from the annual meeting.

James
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