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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
909494	Tucows Inc	TCX	Services-Computer Processing & Data Preparation (7374)	232707366

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1368565	Iv Hazen Rawleigh Ralls	C/O Lacuna Llc 1100 Spruce Street, Suite 202 Boulder CO 80302		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-08-20	100,000	$1.13	4,000,000	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	225,000	Indirect	Rawleigh Ralls Individual Retirement Account
Common Stock	25,000	Indirect	Kate Ralls Individual Retirement Account

Footnotes

These shares are held by Lacuna Hedge Fund LLLP ('Lacuna Hedge') and are indirectly owned by Lacuna, LLC ('Lacuna LLC') and Lacuna Hedge GP LLLP ('Lacuna Hedge GP'). Lacuna LLC serves as the sole general partner of Lacuna Hedge GP, which serves as the sole general partner of Lacuna Hedge. Neither Lacuna LLC nor Lacuna Hedge GP directly owns any securities of the Issuer. Each of Lacuna LLC and Lacuna Hedge GP disclaims beneficial ownership of the securities held by Lacuna Hedge, except to the extent of its pecuniary interest therein. Mr. Ralls is a member of Lacuna LLC. Mr. Ralls disclaims beneficial ownership of the securities held by Lacuna Hedge, except to the extent of his pecuniary interest therein.
The per share price for such shares purchased ranged from $1.10 to $1.16. The Lacuna Entities hereby undertake to provide upon request by the staff of the Securities Exchange Commission full information regarding the number of shares purchased at each separate price.