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| Netradio Corporation |
| 43 Main Street Southeast, Suite 149, Minn, MN 55414 * (612) 378-2211 |
| Business Description | The company is a leading broadcaster of originally programmed audio entertainment over the Internet through their web site www.netradio.com. |
| Offering Information Company has | ||||
| Trading As | NETR (NASNTL) | Industry | Internet (SIC 7374) | |
| Type of Stock Offered | Common Shares | Filing Date | 3/3/99 | |
| Domestic Shares Offered | 3,200,000 | Offer Date | 10/14/99 | |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 | |
| Company Shares | 3,200,000 | Offer Price | $11.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 | |
| Gross Proceeds | $35,200,000 | Selling | $0.460 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 10,522,900 | Employees | - - | |
| Spun out from: | Navarre Corporation | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Gerard Klauer Mattison & Company, Incorporated | Lead Manager | (212) 885-4041 |
| Advest, Inc. | Co-manager | (860) 509-2177 |
| 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 | 12/31/96 | 12/31/97 | 12/31/98 | ||||
| Revenues | - | - | 0.321 | 0.331 | 0.255 | - | - |
| Income from Oper. | - | - | -2.261 | -2.692 | -3.891 | - | - |
| Net Income | - | - | -2.254 | -2.741 | -3.915 | - | - |
| E.P.S | - | - | - | - | -0.660 | - | - |
| Revenue Growth (%) | - | - | 3.12 | -22.961 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -2.71 | - | - | ||||
| Cash Flow - Inv. | -0.91 | - | - | ||||
| Cash Flow - Fin. | 3.66 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/98 | Financial Ratios | ||||
| Total Assets | 2.74 | Current Assets | 1.03 | Current Ratio | 0.85 |
| Total Liab. | 6.57 | Current Liab. | 1.21 | Debt Ratio | 239.78% |
| Total Equity | -3.83 | Working Cap. | -0.18 | Debt to Equity Ratio | - |
| Cash | 0.05 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used working capital and other general corporate purposes including advertising and capital expenditures. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Lindquist & Vennum |
| Bank's Law Firm | Katten Muchin & Zavis |
| Registrar/Transfer Agent | Norwest Bank of Minnesota |
| Auditor | Ernst & Young |
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