<PAGE> 1
EXHIBIT 21
LIST OF SUBSIDIARIES
COYOTE NETWORK SYSTEMS, INC. AND SUBSIDIARIES
SUBSIDIARIES OF THE REGISTRANT
All significant subsidiaries of the Registrant have been listed.
Indentations indicate indirectly owned subsidiaries which are owned by the named
subsidiary.
State of
Subsidiaries of the Registrant Incorporation
------------------------------ -------------
Coyote Communications Services, LLC Colorado
Coyote Gateway, LLC Colorado
Coyote Technologies, Inc. Nevada
Coyote Technologies, LLC California
INET Interactive Network System, Inc. California