SOURCE: DICUT, INC

October 30, 2006 12:02 ET

DICUT, INC's Sharholders Meeting Outcome

BRADENTON, FL -- (MARKET WIRE) -- October 30, 2006 -- DICUT, INC (PINKSHEETS: DCUT) met with shareholders on October 5, 2006, at the Virginia Beach, Virginia, Hilton. Meeting was called to order from the Company's Investor Relations firm, YES INTERNATIONAL. Mr. Richard Kaiser welcomed the shareholders and the Company participants and verified a quorum of shareholders. Mr. Kaiser proceeded to introduce Mr. Quilliam, the Company's Chief Executive Officer.

Mr. Quilliam thanked all for attending and followed with a brief history of DICUT and added the following highlights:

--  PRESENTATION OF THE UNAUDITTED CONSOLIDATED FINANCIAL STATEMENT OF
    DICUT AND ITS SUBSIDIARIES: On a consolidated unaudited bases as of October
    5, 2006, DICUT has 4,000,000,000 (approx) Shares issued and outstanding;
    6,000,000,000 authorized; total assets $32,243; total accounts payable
    $1,527,083; other current liabilities $842,923; total long-term liabilities
    $1,500,000; retained earnings ($8,442,954); net income ($3,876,441).
    
--  A MOTION CONCERNING THE CONVERSION OF DEBTS TO EQUITY (RESTRICTED
    SHARES RULE #144) AND THIS WAS DULY SECONDED AND APPROVED
    
--  DETAILED INFORMATION ABOUT CURRENT SETTLEMENT OFFER WITH CREDITORS;
    includes a total of $2,032,391 in trade debts; creditors settled on
    $1,383,074 with restricted 144-shares; leaving an undecided amount of
    $649,317. The offer to settle with creditors expires at the end of October
    2006.
    
--  A NUMBER OF MOTIONS FROM THE CHAIR WERE INTRODUCED AND VOTED ON, TO
    RENEW THE VARIOUS CONTRACTS WITH COMPANIES DOING MAINTENANCE AND
    PROFESSIONAL SERVICES WORK ON DICUT.
    
With no unfinished business or questions from the shareholders present, Mr. Quilliam proceeded to give a short presentation on future developments. This consisted mainly on the pending completion of the merger between DICUT and Warner International Networks Corp. which is contingent upon fulfillment of contractual obligations; a main provision that DICUT resolve its present liabilities.

THERE BEING NO FURTHER BUSINESS OR QUESTIONS FROM THE AUDIENCE, THE MEETING WAS ADJOURNED.

The Company extends a thank you to all shareholders who have supported DCUT and who also attended the meeting.

For further information about this release contact, YES INTERNATIONAL, 800-631-8127.

Safe Harbor

Except for historical information, all other information provided in this news release consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1935. These "forward-looking statements" are subject to risks and uncertainties, which could cause actual results to differ materially from those projected, anticipated or implied.

Contact Information

  • For further information about this release contact:
    YES INTERNATIONAL
    800-631-8127