| Ticker: NETS | 149 Fifth Avenue | |
| Exchange: NASDAQ-Small Cap Market | New York, New York 10010 | |
| Industry: Service | (212) 779-2740 |
| Type of Shares: | Common Shares | Filing Date: | 12/28/95 | |
| U.S. Shares: | 2,300,000 | Offer Date: | 4/2/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.10 | |
| Primary Shares: | 2,300,000 | Offer Price: | $5.10 | |
| Secondary Shares: | 0 | Gross Spread: | $0.51 | |
| Offering Amount: | $11,730,000 | Selling: | $0.20 | |
| Expenses: | $776,900 | Reallowance: | $0.10 | |
| Shares Out After: | 8,654,440 |
| Manager | Tier | Phone |
| Whale Securities Company | Lead Manager | (212) 484-2057 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.00 | Assets: | $3.61 | ||
| Net Income: | -$2.14 | Liabilities: | $0.54 | ||
| EPS: | -$0.34 | Equity: | $3.07 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a development stage company organized to develop and operate The Network Event Theater, a satellite entertainment network for college campuses. Network Event Theater is designed to deliver entertainment programming events via satellite to nationwide network of electronically-linked campus theaters for dis;lay through high-resolution video projectors on large screens. The company intends to offer a variety of live recorded programming events through its network, consisting primarily of music concerts, motion pictures, sports, special pay-per-view events and educational seminars, targeting college student audiences. The company also intends to offer adult and professional continuing education, self-improvement and corporate lectures and seminars designed to appeal to a wider range of audiences in college communities. The company believes that Network Event Theater is the only network of its kind currently installed on college campuses. |
| Use of Proceeds |
| The company expects to use the net proceeds approximately as follows: 1) $4.7 million - Network expansion, 2) $1.3 million - Marketing and promotion, 3) $1.3 million - Program acquisition, 4) $503,000 - Repayment of 1996 Note and 5) $1,977,100 - Working capital and general corporate purposes. |
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