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| Cooperative Holdings, Inc. |
| 412-420 Washington Avenue, Belleville, NJ 07109 * (973) 759-8100 |
| Business Description | The company is an innovative provider of integrated telecommunications services, including local and long distance service and DSL service. |
|
Filing Information Not yet | |||
| To Trade As | CCII (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 4/7/00 |
| Domestic Shares Filed | 6,000,000 | Filing Range | $9.00 - $11.00 |
| Foreign Shares Filed | 0 | Offering Amount | $60,000,000 |
| Company Shares | 5,000,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 1,000,000 | Post-IPO Shares | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Pennsylvania Merchant Group Ltd | Lead Manager | (610) 260-6495 |
| Roth Capital Partners | Co-manager |
| 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 | 5/31/95 | 5/31/96 | 5/31/97 | 5/31/98 | 5/31/99 | 11/30/98 | 11/30/99 |
| Revenues | 12.573 | 20.474 | 28.718 | 37.200 | 40.598 | 20.441 | 19.827 |
| Income from Oper. | 0.275 | -0.770 | -0.880 | 0.386 | -0.129 | -0.289 | -0.797 |
| Net Income | 0.148 | -0.633 | -1.069 | 0.283 | -0.118 | -0.349 | -1.066 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 62.84 | 40.27 | 29.54 | 9.134 | -3.00 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | 2.19 | - | - | 1.04 | - | - | - |
| Net Profit Margin (%) | 1.18 | - | - | 0.76 | - | - | - |
| Cash Flow - Oper. | 0.69 | 0.22 | -4.61 | ||||
| Cash Flow - Inv. | -0.11 | -0.07 | -0.08 | ||||
| Cash Flow - Fin. | -2.00 | -1.30 | -0.16 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 11/30/99 | Financial Ratios | ||||
| Total Assets | 15.11 | Current Assets | 9.56 | Current Ratio | 0.86 |
| Total Liab. | 17.80 | Current Liab. | 11.08 | Debt Ratio | 117.85% |
| Total Equity | -2.70 | Working Cap. | -1.52 | Debt to Equity Ratio | - |
| Cash | 2.33 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund capital expenditures in connection with the planned rollout of DSL service and planned expansion of the network including the installation of DSL equipment in central offices, the acquisition of DSL modems to lease to customers and the purchase of ATM switches, the acquisition of rights for collocation of equipment with Bell Atlantic and other service providers, the enhancement of the network to provide additional value added services, the hiring of direct sales personnel and expansion of marketing efforts, the improvement of network management, billing and other back office systems and working capital and for general corporate purposes including possible future acquisitions or strategic investments. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Buchanan Ingersoll |
| Bank's Law Firm | Pepper Hamilton & Scheetz |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | KPMG LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Louis A. Lombardi 1996 Family Limited Partnership | ||
| Note: represents ownership of 5% or more prior to the offering. | ||