D&B Business Records Plus: INTERWORLD CORPORATION APR 10 1999
Business Information Report
Saturday, April 10, 1999
Information America Database: D&B BUSINESS RECORDS PLUS BUSINESS INFORMATION REPORT
(Copyright 1998 Dun & Bradstreet, Inc. All Rights Reserved)
DUNS: 88-338-0750 DATE PRINTED SUMMARY
INTERWORLD CORPORATION APR 10 1999 RATING 3A4
FORMERLY
395 HUDSON ST 6TH FL SYSTEMS SOFTWARE 1R3
AND BRANCH(ES) OR DIVISION(S) DEVELOPMENT STARTED 1994
NEW YORK NY 10014 SERVICES SALES F $8,056,000
TEL: 212 301-2500 SIC NO. WORTH F $8,524,000
73 73 EMPLOYS 185(140 HERE)
HISTORY CLEAR
FINANCIAL
CONDITION GOOD
CHIEF EXECUTIVE: ALAN ANDREINI, PRES-CEO
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* * * CUSTOMER SERVICE * * *
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* * * SUMMARY ANALYSIS * * *
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The Summary Analysis section reflects information in D&B's file as of
April 9, 1999.
RATING SUMMARY . . . .
The Rating was changed on April 9, 1999 because the company submitted a
current financial statement. The "3A" portion of the Rating (the Rating
Classification) indicates that the company has a worth from $1 million
to $10 million. The "4" on the right (Composite Credit Appraisal)
indicates an overall "limited" credit appraisal. This credit appraisal
was assigned because of D&B's assessment of the company's payment
experience and its business experience.
Below is an overview of the company's D&B Rating(s) since 06/08/95:
RATING DATE APPLIED
------ ------------
3A4 04/09/99
1R3 02/27/97
1R4 02/27/97
1R3 02/07/97
1R4 11/14/96
-- 06/08/95
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* * * PAYMENT SUMMARY * * *
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The Payment Summary section reflects payment information in D&B's file as of
the date of this report.
The PAYDEX for this company is 68.
This PAYDEX score indicates that payments to suppliers average 17 days beyond
terms, weighted by dollar amounts. When dollar amounts are not considered,
approximately 51% of the company's payments are within terms.
Below is an overview of the company's dollar-weighted payments, segmented by
its suppliers' primary industries:
TOTAL LARGEST % DAYS SLOW
TOTAL DOLLAR HIGH W/IN
RCV'D AMOUNTS CREDIT TERMS <31 31-60 61-90 91+
----- -------------- ---------- ---- --- ----- ----- ---
# $ $ % % % % %
Total in D&B's file 34 1,020,850 300,000
Top 10 Industries:
1 Telephone communictns 6 201,000 85,000 76 - 11 9 4
2 Whol computers/softwr 4 507,500 300,000 20 79 - 1 -
3 Short-trm busn credit 2 140,000 100,000 29 71 - - -
4 Mfg computers 2 82,500 80,000 100 - - - -
5 Nonclassified 2 20,250 20,000 49 - 50 - 1
6 Electric services 2 7,500 5,000 67 33 - - -
7 Whol office equipment 1 25,000 25,000 50 - - 50 -
8 Public relations 1 15,000 15,000 50 - - 50 -
9 Ret computer/software 1 10,000 10,000 - - - 100 -
10 Periodical-print/publ 1 5,000 5,000 50 - - 50 -
11 OTHER INDUSTRIES 9 4,600 1,000 36 38 1 11 14
Other Payment Categories:
Cash experiences 0 0 0
Payment record unknown 3 2,500 1,000
Unfavorable comments 0 0 0
Placed for collection
with D&B 0 0
other 0 N/A
The highest "Now Owes" on file is $200,000
The highest "Past Due" on file is $65,000
The aggregate dollar amount of the 34 payment experiences in D&B's file equals
152.1% of this company's average monthly sales. In Dun & Bradstreet's opinion,
payment experiences exceeding 10% of a company's average monthly sales can be
considered representative of payment performance.
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PAYMENTS (Amounts may be rounded to nearest figure in prescribed ranges)
Antic - Anticipated (Payments received prior to date of invoice)
Disc - Discounted (Payments received within trade discount period)
Ppt - Prompt (Payments received within terms granted)
REPORTED PAYING HIGH NOW PAST SELLING LAST SALE
RECORD CREDIT OWES DUE TERMS WITHIN
04/99 Slow 90 5000 -0- -0- N30 4-5 Mos
03/99 Ppt-Slow 30 500 -0- -0- 6-12 Mos
Ppt-Slow 60 100 100 100 N30 1 Mo
Ppt-Slow 90 5000 -0- -0- N30 4-5 Mos
Ppt-Slow 120 750 750 4-5 Mos
Slow 30 750 750 6-12 Mos
(007) 1000 1000 1000 2-3 Mos
02/99 Ppt
Lease agreement
Ppt 85000 45000 -0- 1 Mo
Ppt 40000 1 Mo
Ppt 20000 20000 -0- 1 Mo
Ppt 2500 -0- -0- 6-12 Mos
Ppt-Slow 30 200000 100000 65000 N30 1 Mo
Ppt-Slow 30 5000 2500 -0- 1 Mo
Ppt-Slow 60 45000 45000 20000 1 Mo
Ppt-Slow 90 35000 5000 5000 1 Mo
Ppt-Slow 90 25000 15000 7500 1 Mo
Ppt-Slow 120 15000 -0- -0- 6-12 Mos
Slow 5 300000 200000 -0- N30 1 Mo
Slow 5 100000 2-3 Mos
Slow 150-180 1000 -0- -0- 4-5 Mos
(022) 500 500 2-3 Mos
01/99 Ppt-Slow 60 20000 10000 2500 1 Mo
Ppt-Slow 120 500 -0- -0- 4-5 Mos
12/98 Ppt-Slow 60 2500 2500 2500 1 Mo
Slow 60-120+ 250 250 250 4-5 Mos
11/98 Ppt 2500 2500 -0- N30 1 Mo
(028) 1000 -0- -0- N30 6-12 Mos
10/98 Ppt 80000 -0- -0- N30 4-5 Mos
Ppt-Slow 90 15000 15000 10000 1 Mo
09/98 Ppt-Slow 30 1000 1000 250 1 Mo
Lease agreement
07/98 Slow 90 500 500 500 N30
05/98 Ppt-Slow 30 500 -0- -0- 6-12 Mos
Slow 80 10000 -0- -0- N30 6-12 Mos
* Payment experiences reflect how bills are met in relation to the
terms granted. In some instances payment beyond terms can be the
result of disputes over merchandise, skipped invoices etc.
* Each experience shown represents a separate account reported by a
supplier. Updated trade experiences replace those previously
reported.
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FINANCE
04/09/99 Fiscal Consolidated statement dated DEC 31 1997:
Cash $ 6,081,000 Accts Pay $ 3,447,000
Accts Rec 4,162,000 Capital Lease
Prepaid 78,000 Oblig - Related
Party 3,119,000
Net Liabilities
Of Discontinued
Ops 1,099,000
Other Curr Liabs 715,000
--------------- ---------------
Curr Assets 10,321,000 Curr Liabs 8,380,000
Fixt & Equip 6,648,000 Def. Credits/Income 527,000
Other Assets 462,000 PREFERRED STOCK 37,319,000
COMMON STOCK 135,000
ADDIT. PD.-IN CAP 2,203,000
RETAINED EARNINGS (31,133,000)
--------------- ---------------
Total Assets 17,431,000 Total 17,431,000
From JAN 01 1997 to DEC 31 1997 annual sales $8,056,000; cost of
goods sold $7,129,000. Gross profit $927,000; operating expenses
$22,507,000. Operating income $(21,580,000); other income
$218,000; other expenses $2,250,000. (net loss) $23,612,000.
Statement obtained from Securities and Exchange Commission.
Prepared from statement(s) by Accountant: Price Waterhouse LLP, New
York, NY.
ACCOUNTANTS OPINION: A review of the accountant's opinion
indicates the financial statements meet generally accepted accounting
principles and that the audit contains no qualifications.
--0--
Accounts receivable shown net less $622,000 allowance.
. ...... BALANCE SHEET EXPLANATIONS ...... .
Other Current Liabilities: Consist of deposits on preferred stock
subscriptions and deferred revenue and customer deposits. Deferred
Credits/Income: Consists of deferred rent.
. ...... INCOME STATEMENT EXPLANATIONS ...... .
Other Income: Consists of interest income. Other Expenses:
Consist of interest expense, expenses from discontinued operations and
provision for operating losses to date of disposition.
On APR 09 1999 Ron Ruegg, Controller, deferred financial
statement.
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PUBLIC FILINGS
The following data is for information purposes only and is not the
official record. Certified copies can only be obtained from the
official source.
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* * * JUDGMENT(S) * * *
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DOCKET/WARRANT: 001082034
JDGMT AWARD: $52 STATUS: Unsatisfied
JDGMT TYPE: Judgment DATE STATUS ATTAINED: 04/06/1998
AGAINST: INTERWORLD TECH VENTURES INC, DATE ENTERED: 04/06/1998
NEW YORK CITY, NY LATEST INFO RECEIVED: 04/16/1998
IN FAVOR OF: NYC DEPARTMENT OF FINANCE
WHERE FILED: NEW YORK COUNTY SUPREME COURT,
NEW YORK, NY
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* * * UCC FILING(S) * * *
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COLLATERAL: Leased Inventory
FILING NO: 97264213 DATE FILED: 12/24/1997
TYPE: Original LATEST INFO RECEIVED: 01/27/1998
SEC. PARTY: COMDISCO, INC., ROSEMONT, IL FILED WITH: SECRETARY OF
DEBTOR: INTERWORLD CORPORATION STATE/UCC DIVISION,
NY
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COLLATERAL: Equipment and proceeds - Business machinery/equipment
FILING NO: 97104961 DATE FILED: 05/21/1997
TYPE: Original LATEST INFO RECEIVED: 06/23/1997
SEC. PARTY: OCE-USA, INC., CHICAGO, IL FILED WITH: SECRETARY OF
DEBTOR: INTERWORLD TECHNOLOGY VENTURES, STATE/UCC DIVISION,
INC. NY
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COLLATERAL: Leased Computer equipment
FILING NO: 97239007 DATE FILED: 11/19/1997
TYPE: Original LATEST INFO RECEIVED: 12/15/1997
SEC. PARTY: COMDISCO, INC., ROSEMONT, IL FILED WITH: SECRETARY OF
DEBTOR: INTERWORLD TECHNOLOGY VENTURES, STATE/UCC DIVISION,
INC. NY
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COLLATERAL: Leased Computer equipment
FILING NO: 97169965 DATE FILED: 08/14/1997
TYPE: Original LATEST INFO RECEIVED: 09/05/1997
SEC. PARTY: COMDISCO, INC., ROSEMONT, IL FILED WITH: SECRETARY OF
DEBTOR: INTERWORLD TECHNOLOGY VENTURES, STATE/UCC DIVISION,
INC. NY
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COLLATERAL: Leased Computer equipment
FILING NO: 96024495 DATE FILED: 02/05/1996
TYPE: Original LATEST INFO RECEIVED: 02/27/1996
SEC. PARTY: AT&T CAPITAL LEASING SERVICES, FILED WITH: SECRETARY OF
INC., FRAMINGHAM, MA STATE/UCC DIVISION,
DEBTOR: INTERWORLD TECHNOLOGY VENTURES NY
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The public record items contained in this report may have been
paid, terminated, vacated or released prior to the date this
report was printed.
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HISTORY
04/09/99
ALAN ANDREINI, PRES-CEO MICHAEL DONAHUE, CHIEF
TECHNOLOGY OFFICER
JOSEPH ROBINSON, EX V PRES PETER SCHWARTZ, CFO
DIRECTOR(S): THE OFFICER(S)
Business started 1994 by officers. Relocated Feb 1997 from 251
Park Ave S, 12th Fl. 100% of capital stock is owned by officers and
ESOP.
INITIAL PUBLIC OFFERING: An initial public offering has been
made by the company and selling stockholders of 1,325,000 shares of
Common Stock. An application has been made to have the stock quoted
on the NASDAQ National Market under the symbol "INTW". The proceeds
will be used for working capital and general corporate purposes.
ALAN ANDREINI. Antecedents undetermined.
MICHAEL DONAHUE. 1994-present active here. 1990-93 active with
O.C.A.A.T., Venezuela. 1988-90 active with Citicorp, New York, NY.
JOSEPH ROBINSON. 1994-present active here. 1988-93 active with
Douglas Eliman, New York, NY.
PETER SCHWARTZ. He most recently served as senior vice president
and CFO for Computer Associates International Inc.
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OPERATION
04/09/99 Systems software development services creating high end internet
commerce and intranet products.
ADDITIONAL TELEPHONE NUMBER(S): Facsimile (Fax) 212 301-2350.
Terms vary. Sells to commercial concerns including Fortune 500
companies. Territory : International.
Nonseasonal.
EMPLOYEES: 185 which includes officer(s). 140 employed here.
FACILITIES: Rents 46,000 sq. ft. on 6th floor of a multi story
brick building.
LOCATION: Central business section on main street.
BRANCHES: Sales offices are maintained in Seattle, WA; San
Francisco and Los Angeles, CA; Detroit, MI; Chicago, IL; Dallas, TX;
Atlanta, GE; Washington, DC and Boston, MA. Offices are also
maintained overseas in Toronto, Sydney, Tokyo, London and Melbourne.
SUBSIDIARIES: The company maintains wholly owned subsidiaries in
Toronto, Sydney, Tokyo, London and Melbourne all under the name
Interworld with similar operations.
04-10(6WN /239) 99999 001239239 H
Smith Barney, New York, NY
FULL DISPLAY COMPLETE
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