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| Quokka Sports, Inc. |
| 525 Brannan Street, Ground Floor, San Francisco, CA 94107 * (415) 908-3800 |
| Business Description | Quokka Sports has pioneered a unique new genre of global sports programming that uses the digital information sharing and communications power of the Internet and other interactive distribution systems to immerse our global audience in a compelling sports entertainment experience. |
| Offering Information Company has | |||
| Trading As | QKKA (NASNTL) | Industry | Service (SIC 7999) |
| Type of Stock Offered | Common Shares | Filing Date | 04/23/1999 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 07/27/1999 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 5,000,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $60,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 43,656,300 | Employees | 186 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | 03/31/1998 | 03/31/1999 |
| Revenues | 0.399 | 0.082 | 0.039 | 4.000 | 8.635 | 4.867 | 0.897 |
| Income from Oper. | 0.088 | -0.018 | -1.556 | -4.871 | -9.858 | -0.422 | -7.564 |
| Net Income | 0.090 | -0.006 | -1.560 | -4.942 | -9.538 | -0.390 | -7.848 |
| E.P.S | 0.020 | 0.000 | -0.410 | -0.730 | -0.990 | -0.040 | -0.040 |
| Revenue Growth (%) | -79.45 | -52.44 | 10,156.41 | 115.875 | -81.57 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | 22.06 | - | - | - | - | - | - |
| Net Profit Margin (%) | 22.56 | - | - | - | - | - | - |
| Cash Flow - Oper. | -10.86 | -1.34 | -6.44 | ||||
| Cash Flow - Inv. | -2.72 | -0.25 | -2.57 | ||||
| Cash Flow - Fin. | 33.55 | -0.01 | 0.28 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 22.85 | Current Assets | 17.50 | Current Ratio | 4.94 |
| Total Liab. | 4.24 | Current Liab. | 3.54 | Debt Ratio | 18.56% |
| Total Equity | 18.61 | Working Cap. | 13.95 | Debt to Equity Ratio | 0.23 |
| Cash | 15,263.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including working capital, expansion of operations, capital contributions to joint ventures and capital expenditures. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Registrar/Transfer Agent | BankBoston |
| Auditor | Pricewaterhouse Coopers LLC |
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| Industry Competition |
The market for Internet services and products is relatively new, intensely competitive and rapidly changing. Since the Internet's commercialization in the early 1990's, the number of Web sites on the Internet competing for consumers' attention and spending has proliferated. We expect that competition will continue to intensify. We compete, directly and indirectly, for sponsors, rights and the attention of sports viewers with the following categories of companies: Web sites targeted to sports enthusiasts generally, such as www.cbs.sportsline.com, www.cnnsi.com and espnsportszone.com, many of which have been established by traditional media companies, and Web sites targeted to enthusiasts of particular sports, such as www.majorleaguebaseball.com, www.nascar.com, www.nba.com, www.nfl.com and www.nhl.com; publishers and distributors of traditional media targeted to sports enthusiasts such as the ESPN networks, the FoxSports network and Sports Illustrated; online services such as America Online and the Microsoft Network, which provide access to sports-related content and services; vendors of sports information, merchandise, products and services distributed through other means, including retail stores, mail, facsimile and private bulletin board services; and Web search and retrieval services, such as Excite, Infoseek, Lycos and Yahoo and other high-traffic Web sites, such as those operated by cYnet and Netscape. We believe that our programming does not compete directly with traditional media, primarily because traditional media frequently do not provide substantial coverage of the sports that we cover and because we believe our programming can substantially enhance coverage provided by traditional media. |