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

To: STEVE SAMEULS who wrote (3474)	3/12/1998 10:31:00 PM
From: James Harold Alton	Read Replies (1) \| Respond to of 19331

Steve, The issue of Reg-S shares has been recently discussed on either this or the old thread. There are Reg-S shares because by definition shares issued out of the country (and we have 3 divisions out of the country) are classed as Reg-S. As I understand it, the aquisitions, employee stock plans and performance shares issued to divisions outside the US would all be classed as Reg-S. Reg-S shares have a bad name because they can be abused by companies to raise cash and doing this results in dilution. Obviously with the strong cash position DCI has, there would be no reason to issue that type of Reg-S shares to raise cash. James

To: STEVE SAMEULS who wrote (3474)	3/13/1998 12:20:00 AM
From: Bruce Galpeer	Read Replies (2) \| Respond to of 19331

Steve, For the record... The only Reg-S shares that DCI has ever issued were for acquisitions outside the US. All shares issued outside the US, per SEC regs, are Reg-S shares. There have been no Reg-S shares issued for capital or financing purposes. There will be those who chose not to believe me so they can just go check the 8-K's that were filed for the purchase of CyberFax, Crossmain and CardCall. That is where the number of Reg-S shares issued is stated in plain English. So be it, enough on this issue already. Please feel free to call DCI and have them explain the Reg-S shares if it bothers you or anyone else out there. Bruce