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| InfoHighway Communications Corporation |
| 1770 Motor Parkway, Suite 300, Hauppauge, NY 11788 * (516) 582-2222 |
| Business Description | The company will offer an extensive array of Internet and telecommunications services to businesses and consumers. These services will initially include a combination of high-speed Internet access and local and long distance telephone service. |
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Filing Information IPO has been | |||
| To Trade As | IW (AMEX) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 7/2/99 |
| Domestic Shares Filed | 1,600,000 | Filing Range | $9.00 - $11.00 |
| Foreign Shares Filed | 0 | Offering Amount | $16,000,000 |
| Company Shares | 1,600,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 4,587,242 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Westport Resources Investment Services, Inc. | Lead Manager | (800) 935-0222 |
| Weatherly Securities Corporation | Co-manager |
| 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 | 12/31/98 | 3/31/99 | |||||
| Revenues | - | - | - | - | 46.373 | - | 9.947 |
| Income from Oper. | - | - | - | - | -1.700 | - | -1.098 |
| Net Income | - | - | - | - | -3.246 | - | -1.208 |
| E.P.S | - | - | - | - | -0.710 | - | -0.260 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/99 | Financial Ratios | ||||
| Total Assets | 41.21 | Current Assets | 11.00 | Current Ratio | 0.57 |
| Total Liab. | 19.42 | Current Liab. | 19.38 | Debt Ratio | 47.13% |
| Total Equity | 21.79 | Working Cap. | -8.38 | Debt to Equity Ratio | 0.89 |
| Cash | 2.10 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of certain indebtedness of OmniLynx and the Founding companies, capital expenditures for hardware to enable us to serve additional buildings, general corporate purposes and future acquisitions of telecommunications companies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Porter & Hedges |
| Bank's Law Firm | Ruskin, Moscov, Evans & Faltischek |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | BDO Seidman |
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