IPOs/Recent Issues: WORLDQUEST –

Dallas, TX

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)


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

The Company:

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.

Venture Backers:

Eagle Venture Capital LLC

Board Members:

B. Michael Adler, Eagle Venture Capital LLC