To: steve stark who wrote (3515 ) 6/3/1999 9:46:00 PM From: neverenough Respond to of 15145
HSAC just my surprise us. Granted their loosing large amounts of money, but their in the right business. I use a cable modem through Charter and Earthlink and have been extremely pleased. Who knows this might have a good pop to it.We are a leading provider of high speed Internet access via cable modem to residential and commercial end users in exurban areas. We believe that we provide the most comprehensive turnkey service available in exurban markets. Our service enables subscribers to receive Internet access at speeds substantially faster than traditional Internet access at minimal cost to the cable operator. We enter into long term exclusive contracts with cable operators to provide them with our service. In exchange for providing us access to their customers, we pay our cable partners a portion of the monthly fees we receive from the end users. We have exclusive agreements to provide our services to 11 cable operators, covering 43 systems and approximately 868,000 homes passed. We also have exclusive letters of intent to provide these services to another 23 operators representing an additional 30 systems and approximately 230,000 homes passed. We have commenced full operations in 14 systems covering approximately 210,000 homes marketed, initiated operations in 16 systems covering an additional 276,000 homes, and have approximately 2,800 cable modem end users. Vulcan Ventures, Incorporated, an affiliate of Microsoft co-founder Paul Allen, beneficially owns 54.2% of our common stock before the offering. Vulcan also owns Charter Communications, Inc., the seventh largest cable system operator in the United States. Charter has agreed to provide us with exclusive access to at least 750,000 homes passed and Vulcan has an equity incentive to cause Charter to provide us up to an additional 5 million homes passed.