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

To: WISDOM MILES who wrote (16331)	5/14/1999 2:45:00 PM
From: Eric G. Erpenbeck	Respond to of 19331

Wisdom, I am not an accountant but an engineer. From what I remember of accounting (don't count on it to much). Goodwill is an asset on the balance sheet. I think goodwill is defined as when a company buys another company for more than the fair market value of its assets. Hence DCTC would pay more than the fair market value (of its assets) for the company it has acquired because of the value of intangible assets like the other companies reputation, management team, supplier and customer networks. These things all have obvious value but do not show up as assets, hence we have goodwill. For Income tax purposes goodwill can not be amortized at all as I recall. Any accountants here can clean up anything I have butchered, if I have.

To: WISDOM MILES who wrote (16331)	5/14/1999 4:29:00 PM
From: Dorine Essey	Read Replies (4) \| Respond to of 19331

WD, A little good news for a change. DCI Names Deloitte & Touche as Auditors May 14, 1999 04:11 PM STRATFORD, Conn., May 14 /PRNewswire/ -- DCI Telecommunications, Inc., DCTC announced today that its Board of Directors has selected Deloitte & Touche LLP as the company's new auditors. They will appear on the proxy statement for ratification by the shareholders at the Annual Meeting of Shareholders later this year and will commence audit work immediately thereafter. They will render an opinion on the fiscal year ending March 31, 2000. Russell B. Hintz, Chief Financial Officer for DCI, said, "The recent suspension of trading in DCI's stock his served to point out to the company the need for broader financial acumen and advice, which Deloitte & Touche, as a Big 5 firm, can provide." The company will ensure that Deloitte & Touche will be deeply involved in DCI's financial information. Joseph J. Murphy, President and CEO of DCI stated, "We never again want to be in a position where anything the company does is subject to question. It has always been and always will be management's intent to run this company according to the highest standards and grow intelligently for the benefit of our stockholders." DCI Telecommunications is a global provider of telecommunications services, including long distance, prepaid phone cards and Internet services. It has an extensive distribution network throughout North America, Europe and the Far East. The company owns and operates switching facilities in Canada, the United Kingdom, Spain and Denmark, with facilities planned for the United States in the near future. Additional information can be obtained directly from the company or its web site at dcic.com . Safe Harbor Statement under the Private Securities Litigation Act of 1995: the statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the new uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, unpredictability of patent protection, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission. SOURCE DCI Telecommunications, Inc.