Thanks so much for the tip: Here is another news article via my newly learned skilled:
(REUTERS) NetRadio Corp. files for $37 million IPO with SEC
NetRadio Corp. files for $37 million IPO with SEC
WASHINGTON, March 3 (Reuters) - NetRadio Corp., an online
broadcaster of more than 120 channels of music, news, sports
and entertainment, filed Wednesday with the Securities and
Exchange Commission for an initial public offering of $37
million in common stock.
The Minneapolis-based company did not disclose the total
number of shares in the offering nor provide an anticipated
price per share range in its preliminary IPO document.
It has applied to trade the stock on Nasdaq under the
symbol <NETR.O>.
The IPO is underwritten by Everen Securities.
Net proceeds will be used for working capital and other
general corporate purposes, including advertising and capital
expenditures, the company said.
NetRadio has recorded a net loss for each year since its
inception in 1995, posting an accumulated deficit of about $5.9
million from March 21, 1997 to Dec. 31, 1998, the filing said.
And it expects to continue to incur losses for the
forseeable future as the company increases its operating
expenses to expand its business, the filing added.
The company is a majority-owned unit of Navarre Corp.
<NAVR.O>, the Internet e-commerce company. Navarre is up $1 to
$16.25 on Nasdaq.
((Peter Ramjug, 202-898-8399))
REUTERS
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