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Filing Details

Accession Number:: 0001209191-10-011427
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-02-23 12:00:00
Reporting Period:: 2010-02-19

Filing Date:: 2010-02-23
Accepted Time:: 2010-02-23 16:42:51
SEC Url:: Form 4 Filing

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	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-02-19	459,413	$0.82	4,738,987	No	4	S	Indirect	See Footnote
Common Stock	Disposition	2010-02-22	442,351	$0.78	4,296,636	No	4	S	Indirect	See Footnote
Common Stock	Disposition	2010-02-23	116,910	$0.77	4,179,726	No	4	S	Indirect	See Footnote

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

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	7,572,109	Indirect	See Footnote

Footnotes

All of the shares sold were within a $1.00 price range between $0.78 to $0.93 per share, with a weighted average price per share of $0.818. Upon request, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
All of the shares sold were within a $1.00 price range between $0.75 to $0.80 per share, with a weighted average price per share of $0.7802. Upon request, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
All of the shares sold were within a $1.00 price range between $0.75 to $0.77 per share, with a weighted average price per share of $0.766. Upon request, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
These shares are held by Lacuna Venture Fund LLLP ("Lacuna Venture") and are indirectly owned by Lacuna LLC ("Lacuna LLC") and Lacuna Ventures GP LLLP ("Lacuna Ventures GP"). Lacuna LLC serves as the sole general partner of Lacuna Ventures GP, which serves as the sole general partner of Lacuna Venture. Neither Lacuna LLC nor Lacuna Ventures GP directly owns any securities of the Issuer. Each of Lacuna LLC and Lacuna Ventures GP disclaims beneficial ownership of the securities held by Lacuna Venture, except to the extent of its pecuniary interest therein. Mr. Ralls is a member of Lacuna LLC. Mr. Ralls does not directly own any non-derivative securities in the Issuer. Mr. Ralls disclaims beneficial ownership of the securities held by Lacuna Venture, except to the extent of his pecuniary interest therein.
These shares are held by Lacuna Hedge Fund LLLP ("Lacuna Hedge") and are indirectly owned by 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 does not directly own any non-derivative securities in the Issuer. Mr. Ralls disclaims beneficial ownership of the securities held by Lacuna Hedge, except to the extent of his pecuniary interest therein.