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| Avistar Communications Corporation |
| 555 Twin Dolphin Drive, Suite 360, Redwood Shores, CA 94065 * (650) 610-2900 |
| Business Description | The Company develops, markets and supports a comprehensive, video-enabled communications network for businesses and organizations of all sizes. |
| Offering Information Company has | |||
| Trading As | AVSR (NASNTL) | Industry | High-Tech (SIC 3571) |
| Type of Stock Offered | Common Shares | Filing Date | 6/9/00 |
| Domestic Shares Offered | 3,000,000 | Offer Date | 8/16/00 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 3,000,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $36,000,000 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 25,190,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Chase H&Q; | Lead Manager | (415) 439-3626 |
| UBS Warburg LLC | Co-manager | |
| Wit SoundView | Co-manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 |
| Revenues | 1.142 | 2.793 | 5.057 | 5.128 | 9.373 | 2.295 | 4.326 |
| Income from Oper. | -6.061 | -7.082 | -7.000 | -7.063 | -5.371 | -1.480 | -1.114 |
| Net Income | -6.834 | -8.578 | -9.703 | -7.641 | -6.350 | -1.563 | -1.379 |
| E.P.S | - | - | - | -17.410 | -10.820 | -2.840 | -2.100 |
| Revenue Growth (%) | 144.57 | 81.06 | 1.40 | 82.781 | 88.50 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -7.31 | -1.39 | -0.16 | ||||
| Cash Flow - Inv. | -0.11 | - | - | ||||
| Cash Flow - Fin. | 13.51 | 1.27 | -0.52 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 11.86 | Current Assets | 11.37 | Current Ratio | 1.12 |
| Total Liab. | 19.62 | Current Liab. | 10.20 | Debt Ratio | 165.38% |
| Total Equity | -7.76 | Working Cap. | 1.17 | Debt to Equity Ratio | - |
| Cash | 5.55 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay our related party debt; to fund increases in our sales and marketing; to fund research and development, including patent and licensing activities; for working capital; and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Bryan Cave |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Registrar/Transfer Agent | EquiServe |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| UBS (USA) Inc. | 5.60 | |
| Note: represents ownership of 5% or more prior to the offering. | ||