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| ITXC Corp. |
| 600 College Road East, Princeton, NJ 08540 * (609) 419-1500 |
| Business Description | The company is a leading global provider of high quality Internet-based voice, fax and voice-enabled services. Our network and proprietary software allow our customers to capitalize on the convergence of traditional circuit-switched voice networks with both private and public packet-based data networks including the Internet. |
| Offering Information Company has | |||
| Trading As | ITXC (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 6/10/99 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 9/27/99 |
| Foreign Shares Offered | 1,250,000 | Filing Range | $11.00 - $13.00 |
| Company Shares | 6,250,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $75,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| First Analysis Securities Corporation | Co-manager | (312) 258-7140 |
| 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 | 12/31/97 | 12/31/98 | 3/31/98 | 3/31/99 | |||
| Revenues | - | - | - | 0.500 | 1.538 | 0.300 | 3.029 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | -0.205 | -7.276 | -0.631 | -2.944 |
| E.P.S | - | - | - | -0.060 | -1.780 | -0.160 | -0.730 |
| Revenue Growth (%) | - | - | - | 207.600 | 909.67 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -5.29 | -0.32 | -1.38 | ||||
| Cash Flow - Inv. | -2.27 | -0.45 | -1.51 | ||||
| Cash Flow - Fin. | 11.04 | 0.30 | 15.43 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/99 | Financial Ratios | ||||
| Total Assets | 22.02 | Current Assets | 17.75 | Current Ratio | 4.20 |
| Total Liab. | 31.00 | Current Liab. | 4.23 | Debt Ratio | 140.80% |
| Total Equity | -8.98 | Working Cap. | 13.52 | Debt to Equity Ratio | - |
| Cash | 16.51 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay debt under our line of credit, expand the number of network hubs and customer-installed gateways, further develop our technology and BestValue Routing approach, develop additional applications for our technology and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Lowenstein, Sandler, Kohl, Fisher & Boylan |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Auditor | Ernst & Young |
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