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Microcap & Penny Stocks : DCTC / FTEL / FNET
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To: Jamey who wrote (932)9/19/1996 12:44:00 PM
From: James A. Medsker   of 1624
 
James:

Please see #935 for a great explanation. Also, from my notes:

5 year Cumulative Convertible Preferred Stock
$5MM offering
150,000 shares @ 33.33
$10M minimum purchase
10% dividend payable in DCTC common stock
Converts to 10 DCTC common and a detachable warrant
warrant is for right to purchase 3 shares DCTC common @ $1 each

Please read post #935 as Mitch's opinion is essentially the same as mine. It says this cum pfd offering info is 1) completely preliminary, 2) will probably be used only in the event of not obtaining bridge financing.

Respectfully,
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