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| Hat World Corporation |
| 4912 S. Minnesota Avenue, Sioux City, SD 57108 * (605) 336-0551 |
| Business Description | The company is a leading specialty retailer of sports related headwear. Our stores offer a large selection of licensed, baseball-style caps featuring logos of college and professional sports teams such as baseball, basketball, football, hockey, and motorsports. |
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Filing Information IPO has been | |||
| To Trade As | HATS (NASNTL) | Industry | Retail (SIC 5699) |
| Type of Stock Offered | Common Shares | Filing Date | 6/15/99 |
| Domestic Shares Filed | 920,000 | Filing Range | $7.00 - $9.00 |
| Foreign Shares Filed | 0 | Offering Amount | $7,360,000 |
| Company Shares | 920,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 4,100,000 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Neidiger/Tucker/Bruner Inc. | Lead Manager | (800) 525-3086 |
| American Frontier Financial Corporation | Co-manager | |
| EBI Securities Corp. | Co-manager | (303) 694-0295 |
| Joseph Stevens & Company, L.P. | Co-manager | (212) 361-3020 |
| 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 | - | - | - | 3.761 | 10.975 | 1.191 | 3.024 |
| Income from Oper. | - | - | - | 0.481 | 1.014 | -0.085 | -0.464 |
| Net Income | - | - | - | 0.276 | 0.643 | -0.044 | -0.284 |
| E.P.S | - | - | - | 0.130 | 0.230 | -0.020 | -0.090 |
| Revenue Growth (%) | - | - | - | 191.805 | 153.79 | ||
| Net Income Growth (%) | - | - | - | 133.19 | - | ||
| Oper. Profit Margin (%) | - | - | - | 12.78 | 9.24 | - | - |
| Net Profit Margin (%) | - | - | - | 7.33 | 5.85 | - | - |
| Cash Flow - Oper. | -0.35 | -0.65 | -1.02 | ||||
| Cash Flow - Inv. | -3.07 | -0.28 | -0.91 | ||||
| Cash Flow - Fin. | 3.22 | 0.39 | 1.51 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/99 | Financial Ratios | ||||
| Total Assets | 8.07 | Current Assets | 3.49 | Current Ratio | 1.21 |
| Total Liab. | 2.98 | Current Liab. | 2.89 | Debt Ratio | 36.90% |
| Total Equity | 5.09 | Working Cap. | 0.59 | Debt to Equity Ratio | 0.58 |
| Cash | 0.01 | Return on Assets | 7.96% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to open and operate additional stores, to pay short-term indebtedness and a bridge loan, to make complementary acquisitions or investments and for working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Charles Clayton |
| Bank's Law Firm | Clanahan, Tanner, Downing & Knowlton, P.C. |
| Registrar/Transfer Agent | American Securities Transfer and Trust |
| Auditor | EideBailly LLP |
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| Additional Underwriter Compensation |
| Warrant to purchase 115,000 shares/units at $25.00 per share/unit. |