| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Summit Life Corporation |
| 3021 Epperly Drive, P.O. Box 15808, Oklahoma City, OK 73155 * (405) 677-0781 |
| The company is a specialized financial services holding company which operates in various segments of the insurance and financial services industry. |
| Manager | Tier | Phone |
| Non Underwritten Offering | Lead Manager |
| Employees: | 6 | Financial: | SIC 6311 | |
| Type of Shares: | Common Shares | Filing Date: | 9/30/98 | |
| U.S. Shares Filed: | 1,000,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $5,000,000 | |
| Primary Shares: | 1,000,000 | Expenses: | $105,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: |
| Issuer's Law Firm: | Day Edwards Federman Propester & Christensen, P.C. |
| Registrar/Transfer Agent: | BancFirst |
| Auditor: | Grant Thornton |
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 | ||
| 12/31/97 | 6/30/98 | 6/30/97 | 6/30/98 | ||
| Revenue: | $0.78 | $0.40 | $0.44 | Assets: | $6.34 |
| Net Income: | -$0.27 | -$0.34 | -$0.12 | Curr Assets: | |
| EPS: | -$0.14 | -$0.17 | -$0.07 | Liabilities: | $5.91 |
| Prior EPS: | -$0.18 | Curr Liab: | |||
| Cash Flow/Oper: | $0.05 | -$1.05 | Equity: | $0.42 | |
| Cash Flow/Fin: | $0.96 | $0.26 | Cash: | $1.75 | |
| Cash Flow/Inv: | -$0.75 | ||||
| Competition |
| The life insurance business is highly competitive and consists of a number of companies, many of which have greater financial resources, longer business histories and more diversified lines of insurance products than the Company. The Company may encounter increased competition from existing competitors or new market entrants, some of which may be significantly larger and have greater business resources. In addition, to the extent that existing or future competitors seek to gain or retain market share by reducing prices, the Company might be compelled to lower its prices, thereby adversely affecting operating results. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to increase the surplus of the company's insurance subsidiaries, repay debt, recruit agents, make acquisitions, working capital and for general corporate purposes. |