FORM 8-K
----------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 9, 2001
CHOICE ONE COMMUNICATIONS INC.
-------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Delaware 0-29279 16-1550742
------------------------------ -------------------- ------------------
(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation or organization) Identification No.)
100 Chestnut Street, Suite 600, Rochester, New York 14604
---------------------------------------- --------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (716) 246-4231
Not Applicable
------------------------------------------------
(Former name or former address, if changed since last report)
Item 1. Not Applicable
Item 2. Not Applicable
Item 3. Not Applicable
Item 4. Not Applicable
Item 5. Not Applicable
Item 6. Not Applicable
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Business Acquired
None
(b) Pro Forma Financial Information
None
(c) Exhibit
99.1 Pursuant to Regulation FD, Choice One Communications
Inc. is furnishing it Press Release Dated January 9,
2001.
Item 8. Not Applicable
Item 9. Regulation FD Disclosure
Pursuant to Regulation FD, Choice One Communications Inc. is
furnishing a press release on January 9, 2001. The Press
Release is attached hereto as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
CHOICE ONE COMMUNICATIONS INC.
(Registrant)
January 9, 2001 /S/ Steve M. Dubnik
--------------- -------------------
Date Steve M. Dubnik
Chairman and CEO
0
<PAGE>
EXHIBIT 99.1
For Immediate Release
Media Contact:
Ythan Lax
Director, Corporate Communications
(716) 530-2944
[email protected]
Investor Contact:
Lisa Schnorr
Director, Investor Relations
(716) 530-2965
[email protected]
CHOICE ONE REITERATES THAT ITS BUSINESS PLAN IS FULLY FUNDED
Rochester, New York - January 9, 2001 -- Choice One Communications (Nasdaq:
CWON), an Integrated Communications Provider (ICP) offering facilities-based
voice and data telecommunications, today reiterated that its business plan is
fully funded.
Choice One's chairman and CEO Steve Dubnik responded to concerns regarding the
company's funding situation. "Since our inception, Choice One has operated under
the philosophy that our business plan should be pre-funded. We expect to report
a year-end cash balance in excess of $210 million when we announce our
fourth-quarter and full-year 2000 results in February. We believe this cash,
combined with more than $80 million in funds remaining under our senior credit
facility, is sufficient to fund our 29-market business plan to free cash flow
positive." The company is currently operational in 26 markets.
About Choice One Communications
Headquartered in Rochester, New York, Choice One Communications, Inc. (Nasdaq:
CWON) is a leading integrated communications services provider offering voice
and data services including Internet and DSL solutions, and web hosting and
design, primarily to small and medium-sized businesses in second and third-tier
markets.
Choice One currently provides or has announced plans to deploy services in 29
markets within twelve states throughout the Northeast and Midwest, U.S. On
August 1, Choice One completed its merger with US Xchange; a facilities-based
CLEC headquartered in Grand Rapids, Michigan. On a pro forma basis, the combined
companies reported annualized third quarter revenue exceeding $100 million and
had 1,302 total colleagues at September 30, 2000.
For further information about Choice One, visit our web site at
www.choiceonecom.com or contact us at 1-888-832-5800.
1
<PAGE>
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, and the companies intend that such forward-looking statements be
subject to the safe harbors created thereby. The words "believes", "expects",
"estimates", "anticipates", "will be" and "plans" and similar words or
expressions identify forward-looking statements made by or on behalf of the
company. These forward-looking statements are subject to many uncertainties and
factors that may cause the actual results of the company to be materially
different from any future results expressed or implied by such forward-looking
statements. Examples of such uncertainties and factors include, but are not
limited to, continued sales growth according to our existing business plan,
availability of financing and regulatory approvals, the number of potential
customers in a target market, the existence of strategic alliances or
relationships, technological, regulatory or other developments in the company's
business, changes in the competitive climate in which the company operates and
the emergence of future opportunities, all of which could cause actual results
and experiences to differ materially from anticipated results and expectations
expressed in the forward-looking statements contained herein. These and other
applicable risks are summarized under the caption "Risk Factors" and elsewhere
in the companies' Registration Statement on Form S-1, Registration No.
333-91321, filed with the Securities and Exchange Commission and declared
effective on February 16, 2000.
# # # #
2
<PAGE>
