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| ESPS, Inc. |
| 1300 Virginia Drive, Suite 125, Fort Washington, PA 19034 * (215) 619-6000 |
| Business Description | The company is a leading provider of enterprise compliance management solutions to businesses in highly regulated industries. The solution consists of the CoreDossier family of software products and related services, enables users throughout an enterprise to collaborate in the authoring, compilation, distribution and publishing of compliance information and regulatory submissions. |
| Offering Information Company has | |||
| Trading As | ESPS (NASNTL) | Industry | Internet (SIC 7373) |
| Type of Stock Offered | Common Shares | Filing Date | 03/31/1999 |
| Domestic Shares Offered | 3,500,000 | Offer Date | 06/16/1999 |
| Foreign Shares Offered | 0 | Filing Price | $7.50 |
| Company Shares | 3,500,000 | Offer Price | $7.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.525 |
| Gross Proceeds | $26,250,000 | Selling | $0.300 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,362,182 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 439-3626 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Charles Schwab & Co. Inc. | Co-manager | (415) 627-7000 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| 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 | 03/31/1995 | 03/31/1996 | 03/31/1997 | 03/31/1998 | 12/31/1997 | 12/31/1998 | |
| Revenues | - | 0.102 | 0.753 | 1.068 | 8.646 | 5.094 | 12.339 |
| Income from Oper. | - | -0.440 | -0.772 | -2.774 | 2.309 | 0.970 | 2.028 |
| Net Income | - | -0.435 | -0.754 | -2.813 | 2.875 | 2.033 | 1.319 |
| E.P.S | - | -0.440 | -1.110 | -5.090 | 5.530 | 5.070 | 0.800 |
| Revenue Growth (%) | - | 638.24 | 41.83 | 709.551 | 142.23 | ||
| Net Income Growth (%) | - | - | - | - | -35.12 | ||
| Oper. Profit Margin (%) | - | - | - | - | 26.71 | 16.44 | 19.04 |
| Net Profit Margin (%) | - | - | - | - | 33.25 | 10.69 | 39.91 |
| Cash Flow - Oper. | 2.74 | 0.35 | -0.43 | ||||
| Cash Flow - Inv. | -0.55 | -0.37 | -1.10 | ||||
| Cash Flow - Fin. | 0.06 | 0.00 | 0.11 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 10.30 | Current Assets | 8.67 | Current Ratio | 2.28 |
| Total Liab. | 3.80 | Current Liab. | 3.80 | Debt Ratio | 36.86% |
| Total Equity | 6.50 | Working Cap. | 4.87 | Debt to Equity Ratio | 0.58 |
| Cash | 3.14 | Return on Assets | 12.81% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and other general corporate purposes including increased domestic and international sales and marketing expenditures, product development expenditures, professional services organization expenditures and capital expenditures. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morgan, Lewis & Bockius |
| Bank's Law Firm | Brobeck, Phleger & Harrison |
| Auditor | Ernst & Young |
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