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

To: James A. Medsker who wrote (15930)	5/3/1999 10:54:00 AM
From: Dorine Essey	Read Replies (1) \| Respond to of 19331

-------------------------------------------------------------------------------- Related Quotes DCTC 0 +0 delayed 20 mins - disclaimer Monday May 3, 10:30 am Eastern Time SEC halts trading in DCI through May 14 WASHINGTON, May 3 (Reuters) - Federal securities regulators Monday suspended trading in telecommunications services provider DCI Telecommunications Inc. through May 14 because DCI allegedly inflated revenues via a popular accounting method. In handing down the suspension, the Securities and Exchange Commission said questions have been raised about the accuracy and adequacy of DCI's financial statements, namely, an apparent inflation of its revenues by accounting for one or more business combinations as a pooling of interests. A spokesman at the Stratford, Conn.-based company did not immediately return a telephone call seeking comment on the SEC action. The commission did not elaborate on the suspension in its news release but it has been cracking down lately on some companies that SEC Chairman Arthur Levitt said used pooling and other accounting methods in order to satisfy Wall Street's expectations for healthy financial numbers. Pooling allows a company to write off goodwill though a one-time, non-cash charge that does not impact future earnings. Goodwill is the premium a company pays above fair market value for intangible assets, such as a well-known name brand. Last month the rule-making U.S. Financial Standards Accounting Board voted to scrap pooling by the end of 2000. DCTC closed Friday at $2.125 in Bulletin Board trading. The stock has a year-high price of $4.25. -------------------------------------------------------------------------------- More Quotes and News: DCI Telecommunications Inc (OTC BB:DCTC - news) Related News Categories: IPOs, options, telecom, US Market News