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| FreeI Networks, Inc. |
| 2505 S. 320th Street, Suite 200, Federal Way, WA 98003 * (253) 796-6500 |
| Business Description | The company is a leading provider of free internet access to consumers and also offers private label and co-branded free internet access solutions to businesses and affinity groups, both domestically and internationally. |
|
Filing Information IPO has been | |||
| To Trade As | FREI (NASNTL) | Industry | Internet (SIC 7371) |
| Type of Stock Offered | Common Shares | Filing Date | 3/31/00 |
| Domestic Shares Filed | 0 | Filing Price | - - |
| Foreign Shares Filed | 0 | Offering Amount | $150,000,000 |
| Company Shares | 0 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bear, Stearns & Co. Inc. | Lead Manager | (212) 272-4850 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Pacific Crest Securities Inc. | Co-manager | (503) 790-0293 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-3000 |
| 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 | 12/31/98 | 12/31/99 | |||||
| Revenues | - | - | - | 0.000 | 0.983 | - | - |
| Income from Oper. | - | - | - | -0.273 | -18.434 | - | - |
| Net Income | - | - | - | -0.272 | -18.745 | - | - |
| E.P.S | - | - | - | -0.080 | -2.160 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -13.50 | - | - | ||||
| Cash Flow - Inv. | -2.27 | - | - | ||||
| Cash Flow - Fin. | 35.78 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 50.43 | Current Assets | 22.83 | Current Ratio | 1.87 |
| Total Liab. | 66.21 | Current Liab. | 12.18 | Debt Ratio | 131.29% |
| Total Equity | -15.78 | Working Cap. | 10.65 | Debt to Equity Ratio | - |
| Cash | 20.34 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to operate and expand our network infrastructure; to promote brand awareness and other user acquisition activities; and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Summit Law Group, P.L.L.C. |
| Bank's Law Firm | Latham & Watkins |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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