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

To: Vince Clements who wrote (4244)	2/3/1998 9:44:00 AM
From: josrph j murphy	Read Replies (5) \| Respond to of 4489

Dear Vincent: Good Morning everybody.I would like to address several subjects,especially for the new shareholders: - Dilution: often misused and misunderstood.The issuance of shares in and of themselves is not dilution if you are indeed purchasing a stream of earnings per share which is incrementally equal to or greater than one's historical earnings per share i.e DCI's trailing EPS is $.13 per share;by acquiring WPCC we pick up $.62 per share($6,000,000 divided by $2.50 market price equals the number of shares DCI would have to exchange or 2.4million shares.WPCC earned $1.5 million ergo $.62 per share on a marginal basis.No dilution only accretion. - People keep calling the transfer agent to get the latest number of shares outstanding and it is growing!Of course it is read the letters to the shareholders that have been sent out and press releases of a year ago.The cardcall people have the right to options and warrants which they have been exercising.The vast majority has been tied up for one or two years(read the S1 registration statement).I have repeatedly stated that if all the options and the warrants were exercised,we would have approximately 22.0 million shares outstanding.However,you would want this because many are tied to performance!