| 2Connect Express, Inc. | |||
| Ticker: | CNCT | 1700 N.W. 65th Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Plantation, FL 33313 | |
| Industry: | Retail (SIC Code 5731) | (954) 797-7960 | |
| Type of Shares: | Common Shares | Filing Date: | 11/6/96 | |
| U.S. Shares: | 1,040,000 | Offer Date: | 5/9/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.25 | |
| Primary Shares: | 1,040,000 | Offer Price: | $6.25 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $6,500,000 | Selling: | $0.30 | |
| Expenses: | $438,000 | Reallowance: | $0.05 | |
| Shares Out After: | 3,752,500 |
| Manager | Tier | Phone |
| Sterne, Agee & Leach Inc. | Lead Manager | (404) 814-3960 |
| Issuer's Law Firm: | Adorno & Zeder |
| Bank's Law Firm: | Atlas, Pearlman, Trop & Borkson |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 8 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $0.09 | Assets: | $2.87 | ||
| Net Income: | -$1.06 | Curr Assets: | |||
| EPS: | -$0.36 | Liabilities: | $0.62 | ||
| Prior EPS: | -$0.67 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $2.25 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company intends to become a retailer of Internet, cellular, PC, paging, telephone, satellite and other communication-related services and products under the name "2Connect". Since inception, the company has developed a business plan for the company's operations and proposed expansion in South Florida; hired the executive and support personnel necessary to support the company's proposed expansion in South Florida for the next six months; developed a standard 2Connect store design for its shopping mall and power center stores; engaged a site selection and construction oversight contractor to aid the company in selecting and securing store sites and to oversee store construction; opened its first three 2Connect stores in South Florida; identified and commenced negotiations for six additional 2Connect store site locations in South Florida; entered into agreements with service providers and product vendors; and developed a marketing strategy. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the development of additional 2Connect stores, organizational, general and administrative expenses; and general corporate purposes. |
| # of Units: | 520,000 | |||
| Unit Ticker: | CNTCU | Unit Price: | $12.50 | |
| Warrant Ticker: | CNTCW | Warrant Price: | ||
| Warrant Exercise Date: | Warrant Exercise Price: | |||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 2 Common Shares + 1 Warrant |
| Warrant Entitlement: 1 Common Share |