| Ticker: TONE | 4110 North Scottsdale Road | |
| Exchange: NASDAQ-Small Cap Market | Scottsdale, Arizona 85251 | |
| Industry: Service | (800) 535-2211 |
| Type of Shares: | Common Shares | Filing Date: | 12/7/95 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 5/13/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $4.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $4.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $6,000,000 | Selling: | ||
| Expenses: | $505,625 | Reallowance: | ||
| Shares Out After: | 3,019,300 |
| Manager | Tier | Phone |
| Barron Chase Securities, Inc. | Lead Manager | (800) 678-3022 |
| Auditor: Hein & Associates | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $1.40 | Assets: | $1.99 | ||
| Net Income: | -$1.59 | Liabilities: | $2.01 | ||
| EPS: | -$1.05 | Equity: | -$0.03 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Touch Tone America, Inc. was formed in 1989 with the goal of becoming a full service telecommunications company providing long distance, local dedicated access, Internet and other telecommunication services and products. In its initial formation, the Company concentrated solely on providing long distance services. Upon the formulation of new legislation which allows competition in the local access markets, the Company entered into an agreement with ICG Services, Inc. to offer this service to its customers. As set forth below, the agreement allows the Company to provide its current and future customers local calling at reduced rates as deregulation permits. With the rapid growth in popularity of the Internet and its numerous applications and resources, the Company in November 1995 acquired GetNet International, Inc. to develop its own Internet division. The Company believes by providing Internet services to its customers it can meet the full spectrum of its customers' telecommunication needs. |
| Use of Proceeds |
| Proceeds from the offering will be used to retire debt, redeem Series A Preferred Stock, acquire related telecommunications businesses, institute the ICG and other product development programs and provide for working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.