| IPO Company Profile © ipodata.com |
| Message Board | Quote | Chart | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| MiningCo.com, Inc. |
| 220 East 42nd Street, 24th Floor, New York, NY 10017 * (212) 849-2000 |
| Business Description | The company is a leading Internet news, information and entertainment service. |
| Offering Information Company has | |||
| Trading As | MINE (NASNTL) | Industry | Internet (SIC 7379) |
| Type of Stock Offered | Common Shares | Filing Date | 12/30/1998 |
| Domestic Shares Offered | 3,000,000 | Offer Date | 03/23/1999 |
| Foreign Shares Offered | 0 | Filing Range | $23.00 - $25.00 |
| Company Shares | 3,000,000 | Offer Price | $25.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.750 |
| Gross Proceeds | $75,000,000 | Selling | $1.050 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 11,611,781 | Employees | 104 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Volpe, Welty & Company | Co-manager | (415) 274-4463 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1996 | 12/31/1997 | 09/30/1997 | 09/30/1998 | |||
| Revenues | - | - | - | 0.000 | 0.391 | 0.181 | 1.578 |
| Income from Oper. | - | - | - | -2.381 | -8.341 | -6.702 | -8.664 |
| Net Income | - | - | - | -2.438 | -8.640 | -6.912 | -9.109 |
| E.P.S | - | - | - | -1.200 | -4.940 | -3.900 | -5.690 |
| Revenue Growth (%) | - | - | - | - | 771.82 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -6.00 | -4.99 | -7.63 | ||||
| Cash Flow - Inv. | -0.15 | -0.11 | -0.45 | ||||
| Cash Flow - Fin. | 4.81 | 3.63 | 9.02 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 3.14 | Current Assets | 1.99 | Current Ratio | 0.54 |
| Total Liab. | 23.67 | Current Liab. | 3.69 | Debt Ratio | 753.58% |
| Total Equity | -20.53 | Working Cap. | -1.70 | Debt to Equity Ratio | - |
| Cash | 1.24 | Return on Assets | - | ||
| Use Of Proceeds |
The use the net proceeds of the offering will be used for working capital and other general corporate purposes, including advertising and brand promotion. We may also use a portion of the proceeds for strategic alliances and acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Brobeck, Phleger & Harrison |
| Bank's Law Firm | O'Sullivan Graev & Karaball, L.LP |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | KPMG Peat Marwick |
| Send us feedback if you would like to request that we hyperlink a firm on this page | |
| Industry Competition |
The number of web sites competing for users and Internet advertisers' and e-commerce marketers' spending has increased significantly. We expect such competition to continue to increase because there are no substantial barriers to entry in our market. Competition may also increase as a result of industry consolidation. Increased competition could result in less traffic to our web site, price reductions for our advertising inventory, reduced margins or loss of market share, any of which would have a material adverse effect on our business, results of operations and financial condition. The company competes for users, advertisers and e-commerce marketers with Internet retrieval companies, search engines and other Internet "portal" companies (such as Excite, InfoSeek, Lycos and Yahoo!); online content web sites (such as C--net, ESPN.com and ZDNet.com); online community web sites (such as iVillage); online personal homepage services (such as GeoCities and theglobe.com); publishers and distributors of television, radio and print (such as CBS, Disney, NBC and Time Warner); general purpose consumer online services (such as America Online and Microsoft Network); and web sites maintained by Internet service providers (such as AT&T; Worldnet, Earthlink and Netcom). |
| Business Plan |
The Company's objective is to become a primary Internet destination and a leading advertising and e-commerce platform. The Company is focused on increasing the number of users and page views on MININGCO.COM by building brand awareness through expanded online and offline marketing campaigns; Broadening existing and developing new distribution and syndication partnerships; and Expanding MININGCO.COM'S functionality, features and content. The Company also intends to convert traffic into revenues by: Broadening its base of advertisers and e-commerce partners and optimizing its advertising rates by leveraging the increasing flow of traffic in highly targeted sections within the GuideSite network; and Expanding its internal advertising sales force, which will enable the Company to establish and maintain closer relationships with its advertisers, advertising agencies and e-commerce marketers, and reduce advertising sales costs as a percentage of revenues. |