Financials and Principal Shareholders.
Michael
Here is some interesting insight into the company.
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Summary Financial Information
Years Ended
December 31, Three Months Ended
---------------- -----------------------------------
Mar. 31, Jun. 30, Sep. 30, Dec. 31,
1997 1998 1998 1998 1998 1998
------- ------- -------- -------- -------- --------
(in thousands, except per share data)
Statement of Operations
Data:
Revenue................. $ 630 $ 8,029 $ 603 $1,172 $2,116 $4,138
Gross profit............ 74 2,084 120 293 546 1,125
Operating loss.......... (3,411) (8,895) (1,495) (1,758) (2,477) (3,165)
Net loss................ (3,417) (9,307) (1,467) (1,776) (2,532) (3,532)
Basic and diluted loss
per common share(2).... $(31.80) $(11.93) $(3.26) $(2.37) $(2.85) $(3.43)
Shares used in basic and
diluted loss per common
share(2)............... 114 835 500 819 945 1,076
Pro forma basic and
diluted loss per common
share(3)............... $ (1.40)
Shares used in pro forma
basic and diluted loss
per common share(3).... 7,113
December 31, 1998
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Pro Forma
Actual Pro Forma(4) As Adjusted(5)
-------- ------------ --------------
Balance Sheet Data: (in thousands)
Cash, cash equivalents and investments.. $ 5,193 $19,992 $
Working capital......................... 4,088 18,887
Total assets............................ 10,791 25,590
Long-term obligations, less current
portion................................ 4,704 4,704
Mandatorily redeemable preferred stock.. 13,855 --
Total stockholders' equity (deficit).... (12,578) 16,076
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Principal Shareholder
Shares
Number of Outstanding(2)(3)
Shares ------------------
Beneficially Before After
Name of Beneficial Owner(1) Owned Offering Offering
--------------------------- ------------ -------- ---------
David J. Cowan
Entities affiliated with Bessemer Venture
Partners(4)................................. 2,130,968 19.2%
1400 Old Country Rd., Suite 407
Westbury, NY 11590
Ted R. Dintersmith
Entities affiliated with Charles River
Partnership(5).............................. 2,093,837 18.8
1000 Winter Street, Suite 3300
Waltham, MA 02154
Entities affiliated with St. Paul Venture
Capital(6)................................... 1,256,302 11.3
8500 Normandale Lake Blvd., Suite 1940
Bloomington, MN 55437
Richard L. Thompson(7)........................ 1,138,269 10.2
George R. Garrick(8).......................... 694,999 6.0
Lawrence G. Braitman(9)....................... 646,000 5.8
Peter D. Olson(10)............................ 599,872 5.4
992 South DeAnza Boulevard
San Jose, CA 95129
Gary L. Prophitt(11).......................... 442,477 4.0
Miles Walsh(12)............................... 223,317 2.0
Larry M. Levine(13)........................... 187,000 1.7
Michael D. Solomon............................ 140,000 1.3
Peter T. Nicas(14)............................ 120,000 1.1
Edwin Videki (15)............................. 25,000 *
Howard C. Draft(16)........................... 5,531 *
All directors and officers as a group (16
persons)(17)................................. 7,972,398 67.2
