DCI NEWS!!!!! Just off the wire
Enjoy
Mitch
Subj: DCI Announces Intention To File An S-1 Registration Statement
Date: 96-09-30 13:20:49 EDT
From: AOLNewsProfiles@aol.net
FAIRFIELD, Conn., Sept. 30 /PRNewswire/ -- DCI Telecommunications Inc., of
Fairfield, Connecticut, a public company (OTC Bulletin Board: DCTC), today
announced that it intends to file an S-1 registration statement with the SEC
within 60 to 90 days. The purpose of such a filing is to raise approximately
$10.0 million in financing, via a public offering, to finalize certain joint
ventures and acquisitions, including bridge financing for FNet and to register
all the shares of the various business combinations announced to date.
DCI Telecommunications is a communications and technology company
comprised of two divisions. The Consumer division designs, develops and
markets value added Privilege Cards(TM) containing a prepaid phone card
feature with debit card features soon to be added.
The Technology division is a hardware and software integration company
which has developed a proprietary data monitoring system for a number of
industries. It also manufactures and sells a complete line of data
acquisition and control devices for personal computers and has recently
introduced its own line of personal computers. It sells to a number of
industries worldwide including education, communication, manufacturing,
laboratories and entertainment.
On April 15, 1996, the Company signed an agreement with Franklin Telecom
Corporation (OTC Bulletin Board: FTEL) of Westlake Village, California,
whereby DCI will acquire 40% to 50% ownership in Franklin's wholly owned
subsidiary Franklin Datacom, Inc. based upon DCI securing certain capital
infusion for the subsidiary. The intention of this financing is to consummate
that transaction and grow this subsidiary, to be named FNet. Also it is the
intent to do an Initial Public Offering (IPO).
On May 20, 1996 the Company signed an agreement with Telephonica
International, Inc. (TLPH), an affiliate of American Cash Card Corp. (ACCC),
providers of telecommunications services with access in more than 100
countries. ACCC's sales in 1995 exceeded $20.0 million. ACCC and its
affiliates have offices in Caracas, Miami, New York and Boston. The agreement
calls for DCI to add prepaid phone features to its Privilege Card(TM) and for
ACCC to add Privilege features to its prepaid phone cards.
Discussions are continuing with TLPH and DCI, whereby TLPH would develop
several proprietary products and add them to their proprietary voice/fax
switches to allow Internet users to send voice or fax (as well as data) over
the Internet.
On August 9, 1996, the Company signed a letter of intent to acquire Muller
Media, Inc., a privately held entertainment company which is located in New
York, New York and generates $3.0 million in sales. It is contemplated that
the acquisition will involve an exchange of stock valued at approximately $3.0
million. Founded in 1982, Muller Media is a nationally recognized distributor
of motion pictures and syndicated programming to television stations and cable
companies. Muller develops and sells programs in conjunction with independent
producers as well as selling products created solely by other producers for
which Muller has acquired exclusive distribution rights.
DCI's management team was invited to speak to a group of more than 130
investors in Dayton, Ohio on September 17th, to outline the Company's plans
for the future. At the meeting, the Company discussed its vision for
strategic growth, the status of various business combinations and joint
ventures that have either been entered into or are being contemplated, as well
as the various financing scenarios. The Company has decided that a $10.0
million public offering is the best option to satisfy the financing needs of
the pending acquisitions and ventures.
SOURCE DCI Telecommunications, Inc.
CO: DCI Telecommunications Inc.
ST: Connecticut
IN: TLS
SU: |
