| Ticker: VONE | 1803 Research Boulevard, Suite 305 | |
| Exchange: NASDAQ-National Market | Rockville, Maryland 20850 | |
| Industry: Wholesale | (301) 838-8900 |
| Type of Shares: | Common Shares | Filing Date: | 6/21/96 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 10/24/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $8.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.35 | |
| Offering Amount: | $21,000,000 | Selling: | $0.18 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,540,556 |
| Manager | Tier | Phone |
| Piper Jaffray Incorporated | Lead Manager | (612) 342-6000 |
| Volpe, Welty & Company | Co-manager | (415) 956-8120 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $1.10 | $2.38 | $0.37 | Assets: | $5.44 |
| Net Income: | -$1.03 | -$4.39 | -$0.40 | Liabilities: | $7.04 |
| EPS: | -$0.12 | -$0.44 | -$0.04 | Equity: | -$1.59 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company markets and licenses a suite of network security products. The Company's suite of products address network authentication, access control, and data integrity through the use of smart cards, firewalls, and encryption technology. The Company's products interoperate seamlessly and can be combined to form a complete, integrated network security solution or can be used as independent components in customized security solutions. The Company's products have been designed with an open and flexible architecture to allow for enhanced application functionality and to support future network security standards. In addition, the Company's products enable businesses to deploy and scale their solution from small, single-site networks to large, multi-site environments. Organizations are increasing their dependence on public networks, such as the Internet, and private enterprise networks using Internet protocols as a cost-effective means to expand enterprise networks, engage in electronic commerce, and increase information exchange. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for working capital and other general corporate purposes including expansion of marketing, sales and customer support, research and development, capital expenditures, and repayment of loans. |
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