Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : DCI Telecommunications - DCTC Today -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (16949)	6/23/1999 6:23:00 PM
From: Baldwin	Respond to of 19331

To All: Wavetech International, Inc. and DCI Telecommunications, Inc.Terminate Share Exchange Agreement Shares to be Returned Immediately TUCSON, Ariz., June 23 /PRNewswire/ -- Wavetech International, Inc. (OTC Bulletin Board: ITEL) announced today that Wavetech and DCI Telecommunications (OTC Bulletin Board: DCTC) of Stratford, Connecticut have terminated the agreement executed in February 1999. As part of that termination, the companies returned their respective shares of Common Stock that had been issued to each other. The decision to terminate the agreement and undo the stock swap follows the termination of a merger agreement between Wavetech International and DCI Telecommunications and the ceasing of all business agreements between the two companies. The share exchange agreement was signed on February 26, 1999 and called for DCI to acquire 568,846 common shares of Wavetech, representing 16.6 percent of the Company's outstanding shares. In turn, Wavetech acquired 576,047 of DCI's common shares, representing 2 percent of DCI's outstanding shares. The Wavetech stock has been returned to its transfer agent as authorized but unissued capital stock. The effect of the terminated stock swap will reduce Wavetech's total asset value by $1,421,684. This change will be reflected in the Company's financial statements for the year ending August 31, 1999 to be included in its Annual Report and 10-K. Wavetech International, founded in 1993, is a facilities-based communications company. In May 1999, Wavetech changed its business focus from traditional calling card services to next generation long distance services using Internet Protocol (IP). Wavetech delivers integrated voice, fax and data over a variety of digital networks, including the Internet, frame relay, dedicated data or traditional circuit-switched networks to corporate, wholesale and retail clients. The Company's services utilize proprietary software developed by Softalk, Inc. Through a worldwide licensing agreement with Softalk, Wavetech also provides marketing, sales, customer service and online billing for both Wavetech and Softalk clients. This press release contains certain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, those factors detailed by Wavetech in its filings with the Securities and Exchange Commission. For additional information, contact Bill Roberts, CTC Inc. at (937) 434-2700 or Ken Paneral, CTC Inc. at (847) 729-8521. SOURCE Wavetech International, Inc. CO: Wavetech International, Inc.; DCI Telecommunications ST: Arizona, Connecticut IN: TLS MLM SU: TNM 06/23/99 15:09 EDT prnewswire.com

To: Colin Cody who wrote (16949)	6/23/1999 6:29:00 PM
From: ernie de la fuente	Read Replies (2) \| Respond to of 19331

Man, My brain must really be leaking out my ears quickly!!! I could have sworn we HAD an investment banker reviewing our options already. Based on the recent FAQ, we don't!!! It appears we started looking for one in April and silly me thought we had one already. Am I making stuff up or did anyone else think we had an investment banker lined up already??? If we don't, how long does it normally take to find one???? 2 months have passed and zipppo. I imagine with everything else going on, DCTC mgt may have finding an IB on the backburner. So much for big bang.....for now..... VI