Went public 2/4/2000 at $13 apiece
Filing Range: 2.5 mil. shares @ $10 to $12
Shares Outstanding: 5.95 mil. shares
Underwriters: Kaufman Bros.
John G. Kinnard/WestPark Capital
(Data except per-share in $ thousands)
Y/E Y/E 9 MOS 9 MOS
12/97 12/98 9/98 9/99
Total Revenue $52 $1,841 $784 $4,009
Net Loss -1,764 1,753 -1,307 -1,135
Net Loss Per Share -.59 -.58 -.44 -.37
WorldQuest Networks is an Internet telephony company that sells virtual prepaid calling cards through its Web site. The company can transmit long distance calls at discounted rates through its Internet and traditional networks. Calls are transmitted through Internet gateways to the country of destination, where the company has agreements with local parties to terminate the calls into the local telephone network. Calls are transmitted over the company’s traditional long distance telephone lines. This network capacity consists of leased capacity from other international long distance carriers who carry calls at discounted rates through their international telephone lines. WorldQuest advertises, sells and delivers these services exclusively through its Internet site, www.wqn.com.
To expand sales and marketing, to fund equipment purchases including additional back-up systems; to repay debt; to fund software development; to increase deposits with credit card processing companies; and for working capital and other general corporate purposes.
Eagle Venture Capital LLC
B. Michael Adler, Eagle Venture Capital LLC