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| Netzee, Inc. |
| 2410 Paces Ferry Road 150 Paces Summit, Atlanta, GA 30339 * (770) 805-2100 |
| Business Description | The company is a leading provider of integrated Internet banking products and services and e-commerce solutions to small and mid-sized banks, thrifts and credit unions, typically with total assets of less than $1 billion. |
| Offering Information Company has | |||
| Trading As | NETZ (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | Common Shares | Filing Date | 9/14/99 |
| Domestic Shares Offered | 4,448,155 | Offer Date | 11/8/99 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 4,000,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 448,155 | Gross Spread | $0.980 |
| Gross Proceeds | $62,274,170 | Selling | $0.550 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 19,395,900 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Robinson-Humphrey Company, Inc., The | Lead Manager | (404) 266-6450 |
| J.C. Bradford & Co. | Co-manager | (615) 748-9347 |
| Suntrust Equitable Securities | Co-manager | (615) 780-9300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | ||
| Revenues | - | - | 0.045 | 0.642 | 0.591 | 0.210 | 2.093 |
| Income from Oper. | - | - | -0.055 | -0.099 | -0.332 | -0.228 | -20.848 |
| Net Income | - | - | -0.055 | -0.099 | -0.352 | -0.241 | -22.025 |
| E.P.S | - | - | -0.030 | -0.050 | -0.180 | -0.120 | -1.430 |
| Revenue Growth (%) | - | - | 1,326.67 | -7.944 | 896.67 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.23 | -0.20 | - | ||||
| Cash Flow - Inv. | -0.02 | 0.00 | - | ||||
| Cash Flow - Fin. | 0.23 | 0.23 | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 2.70 | Current Assets | 0.14 | Current Ratio | 1.22 |
| Total Liab. | 0.87 | Current Liab. | 0.12 | Debt Ratio | 32.08% |
| Total Equity | 1.83 | Working Cap. | 0.03 | Debt to Equity Ratio | 0.47 |
| Cash | 0.00 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of debt, expansion of sales and marketing efforts, product development, and general corporate purposes including working capital and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Sutherland, Asbill & Brennan |
| Bank's Law Firm | Alston & Bird |
| Registrar/Transfer Agent | SunTrust Bank of Atlanta |
| Auditor | Arthur Andersen |
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