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

To: De Peepster who wrote (7803)	8/14/1998 12:45:00 AM
From: James Harold Alton	Read Replies (3) \| Respond to of 19331

Peepster, You had asked me earlier if I had added all of the options listed in the recent Form 3 filings to the outstanding shares when I came up with the 25 million shares and I had told you that I had just estimated that number. Well, I went back and added up all of the options in all of the recent filings, plus looked up the remaining options for CC (1.8 million remaining as of July 22, 1998) and came up with right at 27 million shares. I would guess that there are probably a few more out there but that this represents all of the large positions. If we add another .5 million for misc. and recalculate we end up with 27.5 million shares so: Current value of DCI based on 50 million run rate, (does not include Locus or TWC JV). On 1X revenues: $1.82 On 2X revenues: $3.64 On 2.5X revenues: $4.55 On 3X revenues: $5.45 (The target multiple is 2-3X so the $4.55/share would appear to most closely represent what DCI could be sold for "as is", I just threw the 1X multiple in) The other numbers I posted based on the 35 million shares after Locus and the TWC JV has been completed remains the same: On 35 million shares out, Locus and TWC on board: $4.30 on 1X revenues $8.60 on 2X revenues $10.70 on 2.5X revenues $12.94 on 3X revenues" James