| Orlando Predators Entertainment, Inc., The | |||
| Ticker: | PRED | 20 North Orange Avenue, Suite 101 | |
| Exchange: | NASDAQ-National Market | Orlando, FL 32801 | |
| Industry: | Service (SIC Code 7941) | (407) 648-4444 | |
| # of Employees: | 41 | ||
| Type of Shares: | Common Shares | Filing Date: | 7/21/97 | |
| U.S. Shares: | 1,100,000 | Offer Date: | 12/10/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,100,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $5,500,000 | Selling: | ||
| Expenses: | $300,000 | Reallowance: | ||
| Shares Out After: | 2,280,000 |
| Manager | Tier | Phone |
| First Midwest Securities, Inc. | Lead Manager | (414) 778-1091 |
| Issuer's Law Firm: | Agron, Gary A. |
| Bank's Law Firm: | Niebler & Muren, S.C. |
| Auditor: | Robbins, AJ |
| Registrar/Transfer Agent: | Corporate Stock Transfer, Inc. CO |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $2.89 | $0.00 | $0.00 | Assets: | $3.80 |
| Net Income: | -$0.56 | -$0.15 | -$0.12 | Curr Assets: | $1.45 |
| EPS: | -$0.41 | -$0.11 | -$0.09 | Liabilities: | $3.40 |
| Prior EPS: | -$0.47 | Curr Liabilities: | $3.40 | ||
| Cash Flow/Oper: | Equity: | $0.40 | |||
| Cash Flow/Fin: | Cash: | $0.36 | |||
| Cash Flow/Inv: | Working Cap: | -$1.95 | |||
| Business Description |
| The company was formed to acquire, own and operate the Orlando Predators, a professional Arena Football team of the Arena Football League. The AFL was organized to govern the teams which comprise the League and sell team memberships in major U.S. markets The Company derives substantially all of its revenue from the Arena Football operations of the Predators. This revenue is primarily generated from (i) the sale of tickets to the Predators' home games, (ii) the sale of advertising and promotions to Predator sponsors, (iii) the sale of local and regional broadcast rights to Predators' games, (iv) the Predators' share of contracts with national broadcast organizations and expansion team fees paid through the AFL, and (v) the sale of merchandise carrying the Predators' logos. The Predators commenced play in the AFL's 1991 season. Currently in its seventh season, the team has played in the Arena Bowl for the AFL championship on three occasions. The Predators reported the highest average AFL per game attendance for the 1995 and 1996 seasons and hold the fourth best all time won-lost record among 27 current and former AFL teams. |
| Competition |
| The Predators compete for sports entertainment dollars not only with other professional sports teams but also with college athletics and other sports-related entertainment. During parts of the AFL season, the Predators compete in the city of Orlando with professional basketball and in the state of Florida with professional hockey and professional baseball. In addition, the colleges and universities in central Florida, as well as public and private secondary schools, offer a full schedule of athletic events throughout the year. The Predators also compete for attendance and advertising revenue with a wide range of other entertainment and recreational activities available in central Florida. On a broader scale, the AFL teams compete with football teams fielded by high schools and colleges, the NFL, Canadian Football League and World Football League. |
| Business Plan |
| The Company's strategy is to increase revenue by (i) increasing fan attendance at Predators' home games, (ii) expanding the Predators' advertising and sponsorship base, and (iii) contracting with additional local and regional broadcasters to broadcast Predators' games.In a broader sense, the Company's strategy includes maintaining and building community support for, and recognition of, the team as an ongoing valuable entertainment institution in central Florida and throughout the state. The Company believes that the value of the Predators as a sports team will increase if community support and recognition are maintained. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of debt, payment of accounts payable, marketing expenses and working capital. |
| Name of Shareholder | % Owned Before | % Owned After |
| The Monolith Limited Partnership | 92.50% | 56.00% |
| Alan N. Gagleard | 8.00% | 5.30% |
| Officer Name | Title | Age |
| William G. Meris | Chairman of the Board of Directors | 31 |
| Robert G. Flynn | Chief Operating Officer | 32 |
| Jack Youngblood | President and Director | 47 |
| Alex S. Narushka | Secretary, Tresurer and Chief Financial Officer | 36 |
| Edgar J. Allen | Vice President -- Sales and Marketing | 50 |
| Additional Underwriter Compensation |
| Warrant to purchase 45,000 shares/units at $100.00 per share/unit. |
| Exercise price of $12.00 for 4 year(s), 1 year(s) from 12/10/97. |
| # of Units: | 550,000 | |||
| Unit Ticker: | PREDU | Unit Price: | $10.00 | |
| Warrant Ticker: | PREDW | 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 |