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| WorldQuest Networks, Inc. |
| 16990 Dallas Parkway, Suite 220, Dallas, TX 75248 * (972) 818-0460 |
| Business Description | The company is an international internet telephony company. We sell virtual prepaid calling cards through our interactive and easy to use web site and transmit international long distance call at discounted rates over our own enhanced services platform. |
|
Filing Information Not yet | |||
| To Trade As | - - (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 12/17/99 |
| Domestic Shares Filed | 2,500,000 | Filing Range | $10.00 - $12.00 |
| Foreign Shares Filed | 0 | Offering Amount | $27,500,000 |
| Company Shares | 2,500,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 5,696,699 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Kaufman Brothers L.P. | Lead Manager | (212) 292-4200 |
| Harvard Funding Group, Inc. | Co-manager | |
| John G. Kinnard | Co-manager | (612) 370-2844 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | |||
| Revenues | - | - | - | 0.052 | 1.841 | 0.785 | 4.009 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | -1.765 | -1.753 | -1.308 | -0.863 |
| E.P.S | - | - | - | -0.590 | -0.580 | -0.440 | -0.280 |
| Revenue Growth (%) | - | - | - | 3,443.750 | 410.78 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -0.66 | -0.67 | -0.50 | ||||
| Cash Flow - Inv. | -0.15 | -0.08 | -0.12 | ||||
| Cash Flow - Fin. | 0.84 | 0.77 | 0.66 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 1.38 | Current Assets | 0.20 | Current Ratio | 0.08 |
| Total Liab. | 3.91 | Current Liab. | 2.51 | Debt Ratio | 282.96% |
| Total Equity | -2.53 | Working Cap. | -2.31 | Debt to Equity Ratio | - |
| Cash | 0.06 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to expand our sales and marketing efforts; to repay indebtedness; to fund equipment purchases including certain additional backup systems; to fund software development; to increase deposits with credit card processing companies; and for working capital and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Glast, Phillips & Murray, P.C. |
| Bank's Law Firm | Freshman, Marantz, Orlanski, Cooper & Klein |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| B. Michael Adler | 83.50 | |
| E. Denton Jones | 11.50 | |
| Michael R. Lanham | 5.30 | |
| Note: represents ownership of 5% or more prior to the offering. | ||