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

To: Rob Taylor who wrote (14620)	3/10/1999 11:29:00 AM
From: LT	Read Replies (2) \| Respond to of 19331

Hello Rob, I'm not Joe but I can try to answer a few of your questions. The listing pursuit from 2 years ago is dead. DCI didn't qualify on all criteria and the application was shelved. There was a time 2+ years ago that listing req's were much more liberal and subject to the evaluators opinion. Then, BRE-X broke and the exchanges ran scared as they had ALL been duped. Listing req's were increased as was the scrutiny of the evaluator. AMEX/NAZ who comes first....The bureaucracy of the AMEX has been astounding, to say the least. I know corporate doesn't have much good to say in terms of them doing what they told us they would or could do. Lots of talk, little action. On the NAZ front, we still don't meet all the qualifications. DCI and ITEL have had joint meetings with the NAZ. The NAZ is perfectly capable of looking at a "what if" company and rendering a decision basaed on the combined accounting. The holdup is the SEC. As they continue to pursue their questions, DCI continues to answer them. It just takes way too long for my liking for the SEC to get back to us with the next round. At times, it seems as if they are scrutinizing the takeover of Worldcom by ATT<G>. DCI has been a fully reporting company for over 3 years and they didn't have problems with our filings when the transactions in question were done but they do now....duh....why didn't they ask those accounting questions when the filings were done originally? In the meantime, we hurry up and wait<G>. I understand the frustration with not currently being listed as does management. Not being listed has cost this company mucho dinero in terms of financing arrangements the past 2 years but it was unavoidable. IF the SEC will give the go ahead to the ITEL merger, I think we'll meet all the qualifications needed except price. I have not been able to get a definitive answer from the exchanges on how long and at what price the new company has to trade at before they receive a listed status. There are still many unresolved questions for the time being so we just hurry up and wait. I do not intend for this note to be negative in tone, I'm just answering the best I can. I'm very long this company as I love the potential of this sector and this particular play. Management has always tried to do what is best for the shareholders and I don't see that changing as they have the largest stake of all. Take care... Lou

To: Rob Taylor who wrote (14620)	3/10/1999 11:46:00 AM
From: JOE MEDSKER	Read Replies (2) \| Respond to of 19331

RB, Before DCI and Wavetech filed with the SEC they had already made a presentation to the NASDAQ. A favorable response was received about 30 days later. Both companies then approached the SEC. DCI presented the paperwork. The SEC came back with a request for documentation on 117 different items. That paperwork was sent to the SEC. The SEC came back with a request or copies on 24 of the 117 items along with a request that DCI restate certain filings. The filings have been restated. The information the SEC requested on the 24 items will be in their hands by Monday. IMO if the SEC was not going to approve the merger both companies would have been informed of that decision by now. Joe has said several times that their relationship with the SEC is very good and the SEC has been very helpful in the current process. Both Wavetech and DCI have given the SEC and NASDAQ enough information as to what the financials on the combined company would look like. My best guess is that the AMEX is not in the picture at the moment. They will not consider the listing until after the merger is completed. Their listing process would take approximately 90 days. Since the NASDAQ as I understand it has approved the merger, the listing should follow within days after the vote in Dayton, Ohio. I would think the company will be able to set a date for the merger vote about 2-3 weeks after the SEC reviews the final documents they will receive by Monday. On the financing of the switches, the manufacturer has been selected as well as the leasing company. The contract has been agreed on and the paperwork is still at the leasing company. As I understand it the deal is strictly debt as well as the money for the operations in Spain. My guess on the timetable is that all three switches will have minutes flowing through them by the end of April. The first switch to be in operation will be the co-locating switch in New York. Once it arrives, IXC will have it up and running in just a couple of days. This switch will dramatically improve the net operating income at EDGE. Best Regards