Let me see if I can answer all your questions without typing a novel. 1st we went public on our own with a direct public offering under rule 504. We raised $800,000 in the last 6 months at $1.00 per share. We currently have just under 5,000,000 total shares outstanding and approximately 1,400,000 shares in the public float.
ALL NUMBER ARE AS OF SEPTEMBER 30, 1998 AND ARE UN-AUDITED
Our revenues for 1st Net through 3rd qtr were $958,000 with operating expenses of $773,000. Our primary revenues were comprised of consulting and Internet hosting of $200,478 and Web page design $733,345. We also recently completed the acquisition of another Internet related web site(s) that should add another $1,000,000 in revenues. This acquisition was recently completed and we have not consolidated our financials yet. Our balance sheet highlights are as follows (excluding new acquisition):
Total Current Assets
Cash $130,062
Account Receivables $170,727
Marketable Securities $598,339
Total $903,279
Current and Long term liabilities
Accounts payable $58,203
Due to related parties $ 550
Deferred revenue $33,368
ALL FINANANCIALS ARE UN-AUDITED AND WILL BE AUDITED YEAR END AND BE REALEASED 1ST QTR 1999
Our business is very focused and we primarily build and host web sites for publicly traded companies. We specialize in Internet marketing and database capture and management. Our focus is to build huge databases of investors and provide products and services to the financial industry. This business pays the overhead and gives us a great growth rate with some moderate upside potential.
We raised our own money from friends and family to acquire and develop some technologies that give us explosive upside potential. Check out crayoncrawler.com an interactive client server web browser for children with the worlds 1st TALKING CHAT ROOM!
We also have created the best list serve and email management software package on the market (well at least in our opinion) that is due for commercial release 1st qtr of 1999. We also have a number of client server based community web browsers in development and we have some I.P. Telephone technology up our sleeve as well.
Well there's a short overview. I believe that if any interested parties check into the details they will be very impressed with what we have put together. Thanks for the interest. For more information please check out 1stnettech.com
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