DCI Telecommunications - DCTC Today Message Board

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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today

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To: Rob Taylor who wrote (14620)	3/10/1999 11:46:00 AM
From: JOE MEDSKER	Read Replies (2) of 19331

RB, Before DCI and Wavetech filed with the SEC they had already made a presentation to the NASDAQ. A favorable response was received about 30 days later. Both companies then approached the SEC. DCI presented the paperwork. The SEC came back with a request for documentation on 117 different items. That paperwork was sent to the SEC. The SEC came back with a request or copies on 24 of the 117 items along with a request that DCI restate certain filings. The filings have been restated. The information the SEC requested on the 24 items will be in their hands by Monday. IMO if the SEC was not going to approve the merger both companies would have been informed of that decision by now. Joe has said several times that their relationship with the SEC is very good and the SEC has been very helpful in the current process. Both Wavetech and DCI have given the SEC and NASDAQ enough information as to what the financials on the combined company would look like. My best guess is that the AMEX is not in the picture at the moment. They will not consider the listing until after the merger is completed. Their listing process would take approximately 90 days. Since the NASDAQ as I understand it has approved the merger, the listing should follow within days after the vote in Dayton, Ohio. I would think the company will be able to set a date for the merger vote about 2-3 weeks after the SEC reviews the final documents they will receive by Monday. On the financing of the switches, the manufacturer has been selected as well as the leasing company. The contract has been agreed on and the paperwork is still at the leasing company. As I understand it the deal is strictly debt as well as the money for the operations in Spain. My guess on the timetable is that all three switches will have minutes flowing through them by the end of April. The first switch to be in operation will be the co-locating switch in New York. Once it arrives, IXC will have it up and running in just a couple of days. This switch will dramatically improve the net operating income at EDGE. Best Regards

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