NEXTLINK COMMUNICATIONS INC/NEW
8-K/A, EX-99.4, 2000-08-21
TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE)
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CONCENTRIC NETWORK CORPORATION

CONSOLIDATED STATEMENTS OF COMMON STOCK SUBJECT TO RESCISSION AND

STOCKHOLDERS’ EQUITY (DEFICIT)
(In thousands)
                                                   
Stockholders’ Equity (Deficit)
Common Stock
Subject to
Rescission Preferred Stock Common Stock
Shares Amount Shares Amount Shares Amount
Balance at December 31, 1996 910 $ 5,150 4,901 $ 95,215 2,786 $ 1,850
Issuance of Class A common stock for services — — — — 10 17
Conversion of Class B common to Series A preferred stock — — 7 — (14 ) —
Conversion of Series A, B, C and D preferred to Class A common stock — — (5,693 ) (99,604 ) 11,386 99,604
Shares issued upon the initial public offering (net of issuance costs) — — — — 9,890 52,757
Shares issued in a private placement — — — — 2,492 14,950
Conversion of note to Class A common stock — — — — 506 3,041
Repurchase of Class A common stock in connection with the initial public offering — — — — (370 ) (2,217 )
Shares issued subject to dilution ratios — — 484 — — —
Exercise of options to purchase stock — — — — 130 243
Exercise of warrants to purchase stock — — 301 3,281 618 1,201
Warrants issued to purchase stock — — — 1,108 — 5,370
Deferred compensation resulting from grant of options — — — — — 1,303
Amortization of deferred compensation — — — — — —
Expiration of statutes of limitations on common stock subject to rescission (844 ) (4,602 ) — — 844 4,602
Repurchase of shares for cancellation in connection with Rescission Offer (66 ) (548 ) — — — —
Net loss — — — — — —
Balance at December 31, 1997 — $ — — $ — 28,278 $ 182,721

[Additional columns below]

[Continued from above table, first column(s) repeated]
                           
Stockholders’ Equity (Deficit)
Total
Stockholders’
Accumulated Deferred Equity
Deficit Compensation (Deficit)
Balance at December 31, 1996 $ (93,952 ) $ (188 ) $ 2,925
Issuance of Class A common stock for services — — 17
Conversion of Class B common to Series A preferred stock — — —
Conversion of Series A, B, C and D preferred to Class A common stock — — —
Shares issued upon the initial public offering (net of issuance costs) — — 52,757
Shares issued in a private placement — — 14,950
Conversion of note to Class A common stock — — 3,041
Repurchase of Class A common stock in connection with the initial public offering — — (2,217 )
Shares issued subject to dilution ratios — — —
Exercise of options to purchase stock — — 243
Exercise of warrants to purchase stock — — 4,482
Warrants issued to purchase stock — — 6,478
Deferred compensation resulting from grant of options — (1,303 ) —
Amortization of deferred compensation — 222 222
Expiration of statutes of limitations on common stock subject to rescission — — 4,602
Repurchase of shares for cancellation in connection with Rescission Offer — — —
Net loss (55,582 ) — (55,582 )
Balance at December 31, 1997 $ (149,534 ) $ (1,269 ) $ 31,918

See accompanying notes.

CONCENTRIC NETWORK CORPORATION

CONSOLIDATED STATEMENTS OF COMMON STOCK SUBJECT TO RESCISSION AND

STOCKHOLDERS’ EQUITY (DEFICIT) — (Continued)
(In thousands)
                                                   
Stockholders’ Equity (Deficit)
Common Stock
Subject to
Rescission Preferred Stock Common Stock
Shares Amount Shares Amount Shares Amount
Amortization of deferred compensation — $ — — $ — — $ —
Common stock issued under stock purchase plan — — — — 148 781
Common stock issued in acquisition of DeltaNet Services, Inc. — — — — 452 1,147
Exercise of options to purchase common stock — — — — 1,224 3,527
Exercise of warrants for no cash consideration — — — — 186 —
Warrants issued to purchase stock — — — — — 1,900
Net loss — — — — — —
Preferred stock dividends and accretion — — — — — —
Balance at December 31, 1998 — $ — — $ — 30,288 $ 190,076
Amortization of deferred compensation — $ — — $ — — $ —
Common stock issued under stock purchase plan — — — — 247 1,660
Common stock issued in the acquisition of 9Net — — — — 2,482 50,001
Exercise of options to purchase common stock — — — — 1,856 8,626
Warrants issued to purchase stock — — — — — 12,444
Common stock issued in the secondary offering and sold to SBC Communications, Inc. (net of offering costs) — — — — 7,274 138,509
Exercise of warrants to purchase stock — — — — 3,280 19,199
Net loss — — — — — —
Preferred stock dividends and accretion — — — — — —
Balance at December 31, 1999 — $ — — $ — 45,427 $ 420,515

[Additional columns below]

[Continued from above table, first column(s) repeated]
                           
Stockholders’ Equity (Deficit)
  
Total
Stockholders’
Accumulated Deferred Equity
Deficit Compensation (Deficit)
Amortization of deferred compensation $ — $ 373 $ 373
Common stock issued under stock purchase plan — — 781
Common stock issued in acquisition of DeltaNet Services, Inc. (2,457 ) — (1,310 )
Exercise of options to purchase common stock — — 3,527
Exercise of warrants for no cash consideration — — —
Warrants issued to purchase stock — — 1,900
Net loss (82,106 ) — (82,106 )
Preferred stock dividends and accretion (11,958 ) — (11,958 )
Balance at December 31, 1998 $ (246,055 ) $ (896 ) $ (56,875 )
Amortization of deferred compensation $ — $ 372 $ 372
Common stock issued under stock purchase plan — — 1,660
Common stock issued in the acquisition of 9Net — — 50,001
Exercise of options to purchase common stock — — 8,626
Warrants issued to purchase stock — — 12,444
Common stock issued in the secondary offering and sold to SBC Communications, Inc. (net of offering costs) — — 138,509
Exercise of warrants to purchase stock — — 19,199
Net loss (85,085 ) — (85,085 )
Preferred stock dividends and accretion (26,697 ) — (26,697 )
Balance at December 31, 1999 $ (357,837 ) $ (524 ) $ 62,154

See accompanying notes.



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