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| PNV.net, Inc. |
| 11711 N.W. 39th Street, Coral Springs, FL 33065 * (954) 745-7800 |
| Business Description | The company is the leading provider of bundled telecommunications, cable television and Internet access services to the trucking community. |
| Offering Information Company has | |||
| Trading As | PNVN (NASNTL) | Industry | Telecommunications (SIC 4899) |
| Type of Stock Offered | Common Shares | Filing Date | 09/17/1999 |
| Domestic Shares Offered | 3,750,000 | Offer Date | 11/23/1999 |
| Foreign Shares Offered | 0 | Filing Range | $15.00 - $17.00 |
| Company Shares | 3,750,000 | Offer Price | $17.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.190 |
| Gross Proceeds | $63,750,000 | Selling | $0.700 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 15,703,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CIBC World Markets | Lead Manager | (212) 667-7400 |
| Allen & Company Incorporated | Co-manager | (212) 339-2220 |
| Volpe Brown Whelan & Company | Co-manager | (415) 274-4463 |
| William Blair & Company | Co-manager | (312) 364-8990 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 06/30/1997 | 06/30/1998 | 06/30/1999 | ||||
| Revenues | - | - | 0.888 | 3.504 | 8.453 | - | - |
| Income from Oper. | - | - | -6.216 | -13.509 | -31.845 | - | - |
| Net Income | - | - | -6.045 | -13.734 | -39.772 | - | - |
| E.P.S | - | - | -1.610 | -3.830 | -9.890 | - | - |
| Revenue Growth (%) | - | - | 294.59 | 141.239 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -29.27 | - | - | ||||
| Cash Flow - Inv. | 14.36 | - | - | ||||
| Cash Flow - Fin. | -0.80 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/30/1999 | Financial Ratios | ||||
| Total Assets | 61.39 | Current Assets | 24.00 | Current Ratio | 4.64 |
| Total Liab. | 118.37 | Current Liab. | 5.17 | Debt Ratio | 192.83% |
| Total Equity | -56.99 | Working Cap. | 18.83 | Debt to Equity Ratio | - |
| Cash | 4.10 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to redeem our Series A preferred stock, fund operating losses and capital expenditures and for working capital and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Kilpatrick Stockton LLP |
| Bank's Law Firm | Swidler & Berlin, Chartered |
| Registrar/Transfer Agent | First Union National Bank North Carolina |
| Auditor | Deloitte & Touche |
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