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

To: Art Vandelay who wrote (6283)	6/17/1998 2:41:00 PM
From: Musya	Respond to of 19331

Your link does not work, sorry. But I found it: -------------------- 8-K of June 16 On June 9, 1998, Robert Muller and Daniel Mulholland (the "Exercising Parties") completed the exercise of put options held by each of them under that certain stock purchase agreement dated November 26, 1996 (the "Agreement") among DCI Telecommunications, Inc. ("Registrant"), as purchaser, Muller Media, Inc., and the Exercising Parties, as selling stockholders of Muller Media, Inc. The put options enabled the Exercising Parties to require the Registrant to transform the closing consideration of 1,200,000 shares of the Registrant's common stock into cash by requiring DCI to repurchase the DCI common stock issued as closing consideration for $3,000,000 upon exercise of the put options. DCI repurchased 400,000 shares of such common stock in March, 1998 for $1,000,000 and completed the repurchase from the Exercising Parties on June 9, 1998 upon payment of an additional $2,000,000. -------------- ----------------- from an earlier 10-K/A of May 20 DCI is required to repurchase the shares for $3,000,000, if Muller exercises a "put" option which commences on the earlier of 120 days from December 27, 1996, unless an extension is requested by DCI, which Muller cannot unreasonably withhold, or 14 days after DCI has received an aggregate of $3,000,000 in net proceeds from the sale of its capital stock. An extension was granted by Muller through July 15, 1997. The selling stockholders also have an option to keep DCI stock or accept up to $3,000,000 in cash from DCI. --------------------------------- Musya