| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| FirstLink Communications, Inc. |
| 190 SW Harrison, Portland, OR 97201 * (503) 306-4444 |
| The company provides integrated telecommunications services to multi-family apartment and condominium complexes. The company offers a complete package of services including local and long distance telephone, enhanced features and cable television. |
| Manager | Tier | Phone |
| Kashner Davidson Securities Corporation | Lead Manager | |
| Joseph Charles & Associates, Inc. | Co-manager | (310) 274-4402 |
| Joseph Dillon & Company, Inc. | Co-manager | (516) 829-3111 |
| NASSCM: | FLCI | Service: | SIC 4812 | |
| Type of Shares: | Common Shares | Filing Date: | 4/3/98 | |
| U.S. Shares: | 1,400,000 | Offer Date: | 7/27/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $6.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $5.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.55 | |
| Offering Amount: | $7,700,000 | Selling: | ||
| Expenses: | $329,500 | Reallowance: | ||
| Post-IPO Shares: | 3,162,264 | |||
| Employees: | 18 |
| Issuer's Law Firm: | Neuman & Drennen, LLC |
| Bank's Law Firm: | General Counsel |
| Registrar/Transfer Agent: | American Securities Transfer, Inc |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $0.88 | Assets: | $1.06 | ||
| Net Income: | -$0.58 | Curr Assets: | $0.47 | ||
| EPS: | -$0.50 | Liabilities: | $0.80 | ||
| Prior EPS: | -$0.75 | Curr Liab: | $0.41 | ||
| Cash Flow/Oper: | -$0.54 | Equity: | $0.26 | ||
| Cash Flow/Fin: | $0.98 | Cash: | $0.39 | ||
| Cash Flow/Inv: | -$0.07 | Working Cap: | $0.06 | ||
| Competition |
| The Company believes that competition in its markets will come from smaller companies as well as large telephone companies. Corporate cultures of the various competing entities such as phone and cable companies differ greatly from one another. Cable companies tend to be more entrepreneurial and telephone companies tend toward a monopoly mentality. As a result, it has been difficult for these large organizations to work together to actually realize the economies of scale which a converged industry represents. At the same time, the telecommunications industry remains highly regulated and although there are attempts being made to open telecommunications markets, incumbent monopolies still control the local exchange marketplace and can afford protracted litigation to delay new entrants to the marketplace. The Company will attempt to establish relationships with large apartment owners who influence the telecommunications options of the building they own. There can be no assurance that other companies who may offer services like those offered by the Company will not be able to effectively compete with the Company in its existing or proposed markets. Other companies currently provide cable and telephone services to residential complexes, including ICS Communications, Inc. (ICS) and GE Capital-Rescom, L.P. ("Rescom"). The Company's principal competitors in the future will include companies that provide shared tenant services to office holdings, who have a significant infrastructure in place in cities to which the Company plans to expand. For example, Shared Technologies Fairchild Communications Corp ("STF") has an agreement with ICS Rescom, L.P., to manage certain aspects of its business. |
| Business Plan |
| The Company intends to pursue an aggressive growth strategy involving the development of customers in new markets. This growth strategy will require, among other changes, expanded operational and financial systems and the implementation of new control procedures. The Company's future operating results will depend on its ability to develop its infrastructure commensurate with revenues and on its ability to attract, hire and retain skilled employees. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, systems enhancements and working capital. |
| Additional Underwriter Compensation |
| Warrant to purchase 100,000 shares/units at $100.00 per share/unit. |