X0303 4 2010-02-24 0000909494 TUCOWS INC /PA/ TCX 0001368565 Ralls Rawleigh Hazen IV C/O LACUNA LLC 1100 SPRUCE STREET, SUITE 202 BOULDER CO 80302 1 0 1 0 Common Stock 2010-02-24 4 S 0 231925 0.7713 D 3947801 I See Footnote Common Stock 2010-02-25 4 S 0 20390 0.7828 D 3927411 I See Footnote Common Stock 7572109 I See Footnote All of the shares sold were within a $1.00 price range between $0.77 to $0.79 per share, with a weighted average price per share of $0.7713. 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 $0.78 to $0.80 per share, with a weighted average price per share of $0.7828. 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. Rawleigh Hazen Ralls IV /s/ Sharon O'Rourke, Attorney-in-Fact 2010-02-26