| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| C2i Solutions, Inc. |
| 4747 Morena Blvd., Suite 101, San Diego, CA 92117 * (619) 490-1555 |
| The company is a provider of integrated solutions to address the Year 2000 challenge and to transition legacy applications effectively and efficiently. |
| Manager | Tier | Phone |
| Gilford Securities | Lead Manager | (800) 445-3673 |
| NASSCM: | CTWO | High-Tech: | SIC 7379 | |
| Type of Shares: | Common Shares | Filing Date: | 11/4/97 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 2/24/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.25 - $6.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $5,625,000 | Selling: | $0.36 | |
| Expenses: | $525,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 3,391,338 | |||
| Employees: | 8 |
| Issuer's Law Firm: | Gray Cary Ware & Freidenrich |
| Bank's Law Firm: | Piper & Marbury |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 6/30/97 | 6/30/97 | ||||
| Revenue: | $0.04 | Assets: | $0.24 | ||
| Net Income: | -$1.32 | Curr Assets: | $0.21 | ||
| EPS: | -$0.46 | Liabilities: | $0.04 | ||
| Prior EPS: | Curr Liab: | $0.04 | |||
| Cash Flow/Oper: | -$0.11 | Equity: | $0.20 | ||
| Cash Flow/Fin: | $0.20 | Cash: | $0.08 | ||
| Cash Flow/Inv: | -$0.02 | Working Cap: | $0.16 | ||
| Competition |
| The market for services relating to the Year 2000 problem is highly competitive and will become increasingly competitive as the Year 2000 approaches. The anticipated growth in this industry is expected to attract additional competitors, many of whom may offer additional products and services. Existing competitors for Year 2000 conversions and related software tools include Coopers & Lybrand LLP, Electronic Data Services Corporation, Ernst & Young LLP, Zitel Corp., Viasoft, Inc., Computer Horizons, Inc., Data Dimensions, Inc., Crystal System Solutions, Ltd., Platinum Technology Inc., Acceler8 Technology Corporation, TSR, Inc. and Peritus Software Services, Inc. Most of the competitors providing software tools and services for Year 2000 conversion projects are more established, benefit from greater name recognition and have substantially greater financial, technical and marketing resources than the Company. As a result, there can be no assurance that the Company will be able to compete effectively. The principal competitive factors affecting the market for the Company's services include product performance and reliability, product functionality, availability of experienced personnel and price, ability to respond in a timely manner to changing customer needs, project management capabilities, ease of use, training and quality of support. |
| Business Plan |
| The Company's strategy is to focus its resources on business organizations that process large volumes of automated transactions involving date computations, to expand both domestically and internationally, and to refine and enhance its Year 2000 consulting methodology. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of a bridge loan, plus accrued interest, expansion of operations center, sales and marketing efforts, product development and general corporate purposes and working capital. |
| Name of Shareholder | % Owned Before | % Owned After |
| John Anthony Whalen, Jr. | 0.61 | 0.43 |
| Frank Vukmanic | 0.14 | 0.10 |
| Clyde Wooten | 0.14 | 0.10 |
| Konrad Witt | 0.11 | 0.08 |
| Officer Name | Title | Age |
| John Anthony Whalen, Jr. | Chairman of the Board of Directors; President and Chief Executive Officer | 55 |
| Clyde Wooten | Senior Vice President, Operations and Chief Technology Officer | 54 |
| Frank J. Vukmanic | Senior Vice President, Sales and Marketing | 51 |
| Diane E. Hessler | Vice President, Finance, Secretary and Chief Financial Officer | 37 |
| Additional Underwriter Compensation |
| Warrant to purchase 100,000 shares/units at $100.00 per share/unit. |