TUCOWS INC /PA/ MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains, in addition to historical
information, forward-looking statements by us with regard to our expectations as
to financial results and other aspects of our business that involve risks and
uncertainties and may constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Words such as “may,”
“should,” “anticipate,” “believe,” “plan,” “estimate,” “expect” and “intend,”
and other similar expressions are intended to identify forward-looking
statements. The forward-looking statements contained in this report include
statements regarding, among other things: the competition we expect to encounter
as our business develops and competes in a broader range of Internet services;
the Company’s foreign currency requirements, specifically for the Canadian
dollar; Wavelo, and Ting subscriber growth and retention rates; our belief
regarding the underlying platform for our Tucows Domains services, our
expectation regarding the trend of sales of domain names and advertising; our
expectations regarding portfolio revenue, our belief that, by increasing the
number of services we offer, we will be able to generate higher revenues; our
expectation regarding litigation; the potential impact of current and pending
claims on our business; our valuations of certain deferred tax assets; our
expectation to collect our outstanding receivables, net of our allowance for
doubtful accounts; our expectation regarding fluctuations in certain expense and
cost categories; our expectations regarding our unrecognized tax; our
expectations regarding cash from operations to fund our business; the impact of
cancellations of or amendments to market development fund programs under which
we receive funds, our expectation regarding our ability to manage realized
gains/losses from foreign currency contracts; our partnership with an affiliate
of Generate TF…..

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