| Proposed Ticker: ELNK | 3100 New York Drive, Suite 201 | |
| Exchange: NASDAQ-National Market | Pasadena, California 91107 | |
| Industry: High-Tech | (818) 296-2400 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 6/3/96 | |
| U.S. Shares Filed: | 3,600,000 | Filing Range: | $10.00 - $12.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $39,600,000 | |
| Primary Shares: | 3,600,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | 15,570,465 | |
| Manager | Tier | Phone |
| UBS Securities Inc. | Lead Manager | (212) 230-4000 |
| Cruttenden Roth Incorporated | Co-manager | (800) 678-9147 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6000 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $3.03 | $3.42 | $0.18 | Assets: | $8.88 |
| Net Income: | -$6.12 | -$4.87 | -$0.27 | Liabilities: | $7.08 |
| EPS: | -$0.47 | -$0.35 | -$0.02 | Equity: | $1.80 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an Internet service provider. The company links customers to the Internet for an initial fee of $25, thereafter charging them $19.95 each month for unlimited access to the global computer network. International Data Corporation estimates that the number of Internet users was approximately 56 million at the end of 1995 and that this number will reach 200 million by the end of 1999. This growth combined with the emergence of the World Wide Web, the graphical, multimedia environment of the Internet, has resulted in the development of the Internet as a new mass communications medium. However, current limitations of Internet service providers and traditional on-line service providers, combined with the volume and lack of organization of the information contained on the Internet, have precluded non-technical users from fully enjoying expanding Internet resources. The Company believes that the next phase of growth in the Internet services market will require providers to address the needs of non-technical users and to shift from providing network infrastructure and undifferentiated access to providing value-added, distinct services which build customer satisfaction and loyalty. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for enhancements to the company's network infrastructure, for new service and product introductions, for potential acquisitions and other general corporate purposes. |
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