from most recent s1-a:
On January 31, 2000, we announced general availability of our first product, the ONLINE9000, which we began to ship in February 2000. In March 2000, we recognized revenue from sales of this product to four customers. For the three months ended March 31, 2000, sales to Williams Communications, Inc., COLT Telecom plc, Marietta Fibernet and StorageNetworks, Inc. accounted for 33%, 30%, 23% and 14% of revenue, respectively. Sales to COLT Telecom, which is based in the United Kingdom, are denominated in United States Dollars. While we will continue to seek to diversify and grow our customer base, we anticipate that our operating results for any given period may depend on a small number of customers. <In April 2000, we entered into a limited trial system purchase agreement with Internet Initiative Japan Inc. and an OEM relationship with Lucent Technologies, Inc. in April 2000, we entered into an OEM relationship with Lucent Technologies that expires on December 31, 2001. Under the terms of our agreement, Lucent Technologies has the exclusive right to sell some of our products in China >
also CCT telecom and Sun Microsystems new investors:
In March 2000, we agreed to sell $4.0 million of common stock to Internet Initiative Japan Inc. at the initial public offering price in a private placement that will close concurrent with this offering. Internet Initiative Japan will be granted the right to include these shares in future registered offerings that we may file. We also entered into a trial system purchase agreement with Internet Initiative Japan for our ONLINE9000 product in April 2000. '
In April 2000, we agreed to sell $10.0 million of common stock to CCT Telecom Holdings Limited at the initial public offering price in a private placement that will close concurrent with this offering. CCT Telecom will be granted the right to include these shares in future registered offerings that we may file.
In May 2000, we entered into an agreement to sell 1,333,333 shares of Series H preferred stock to Sun Microsystems, Inc. at a price of $15.00 per share for an aggregate purchase price of $20.0 million in a private placement that we anticipate will close on or about May 8, 2000. These preferred shares will convert into 1,616,161 shares of common stock upon the completion of this offering, based on an assumed initial public offering price of $15.00 per share. The number of common shares to be issued on conversion will be computed on a 17.5% discount of the initial public offering price. In the period of conversion, this beneficial conversion feature will increase the net loss attributable to common stockholders by approximately $4,242,000 and increase the basic and diluted net loss per share. |
