OT William,
Re: Rthm...
I don't know, but maybe someone on the Rthm thread has this all figured out. I'm excited to see more DSL deployment and to see more COs being updated for DSL.
Looks like $100m raised prior to IPO. Possibly $183m from IPO. Acc debt is $39m 12/98. Sounds like this may take them to June 2000 per SEC Edgar filing:
"We intend to rapidly and substantially increase our expenditures and operating expenses in an effort to expand our network services. We expect to have annual interest and amortization expense relating to our senior discount notes of approximately $23.6 million in 1999 and
increasing to $39.5 million in 2003. In addition, we intend to seek additional debt financing in the future. Furthermore, as a result of recent preferred stock issuances and stock option grants, we anticipate that there will be significant charges to earnings in future periods. As a result of these factors, we expect to incur substantial operating and net losses and negative operating cash flow
for the foreseeable future. We will need to obtain additional financing to pay our expenses and to make payments on our debt. We cannot give you any assurance about whether or when we will have sufficient revenues to satisfy our funding requirements or pay our debt service obligations."
WE WILL NEED SIGNIFICANT ADDITIONAL FUNDS, WHICH WE MAY NOT BE ABLE TO OBTAIN
"The expansion and development of our business will require significant additional capital. We intend to seek substantial additional financing in the future to fund the growth of our operations, including funding the significant capital expenditures and working capital requirements necessary for us to provide service in our targeted markets. We believe that our current capital resources, including the proceeds of this offering, will be sufficient to fund our aggregate capital expenditures and working capital requirements, including operating losses, until June 2000. We will not have completed our network rollout by this date and will need additional capital, whether or not our estimate on how long current capital resources will last is accurate. In addition, our actual funding requirements may differ materially if our assumptions underlying this estimate turn out to be incorrect."
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