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| 1720 Route 34, Wall, NJ 07719 * (732) 280-6408 |
| Business Description | We are a new company formed to acquire and operate businesses that provide Internet access and related services to customers in secondary markets in the northeastern United States. In January, 1999, we acquired an Internet service provider serving the greater Albany, New York area with approximately 4,000 individual and business subscribers. |
| Offering Information Company has | |||
| Trading As | BIZZ (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | Common Shares | Filing Date | 02/26/1999 |
| Domestic Shares Offered | 2,900,000 | Offer Date | 05/11/1999 |
| Foreign Shares Offered | 0 | Filing Price | $10.00 |
| Company Shares | 2,900,000 | Offer Price | $10.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.700 |
| Gross Proceeds | $29,000,000 | Selling | $0.350 |
| Expenses | - - | Reallowance | $0.200 |
| Post-IPO Shares | 6,890,400 | Employees | 61 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Joseph Stevens & Company, L.P. | Lead Manager | (212) 361-3020 |
| Neidiger/Tucker/Bruner Inc. | Co-manager | (800) 525-3086 |
| Royce Investment Group, Inc. | Co-manager | (516) 393-8300 |
| Schneider Securities, Inc. | Co-manager | (303) 837-9200 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | ||||||
| Revenues | - | - | - | - | 6.196 | - | - |
| Income from Oper. | - | - | - | - | -2.412 | - | - |
| Net Income | - | - | - | - | -2.552 | - | - |
| E.P.S | - | - | - | - | -0.410 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 0.26 | Current Assets | 0.15 | Current Ratio | 1.50 |
| Total Liab. | 0.20 | Current Liab. | 0.10 | Debt Ratio | 77.53% |
| Total Equity | 0.06 | Working Cap. | 0.05 | Debt to Equity Ratio | 3.45 |
| Cash | 0.15 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to pay the cash purchase price of the businesses being acquired, working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Duffy & Sweeney |
| Bank's Law Firm | Orrick, Herrington & Sutcliffe |
| Auditor | KPMG LLC |
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| Additional Underwriter Compensation |
| Warrant to purchase 200,000 shares/units at a nominal price. |
| Exercise price of $12.00 for 4 year(s), 1 year(s) from 05/11/1999. |