OTC Bulletin Board

S & P Company Insight for KEYON COMMUN HLD
 
 Profile

 
Business Summary: KeyOn Communications Holdings Inc., together with its subsidiaries, provides wireless broadband, satellite video, and voice over Internet Protocol (VoIP) services primarily to small and rural markets in the western and the midwestern United States.
 
Address
  11742 Stonegate Circle
  Omaha , NE 68164
  Phone: 402-998-4000
  Fax: 402-998-4111
  Website: http://www.keyon.com
Auditor
  L.L. Bradford & Company, LLC
  Las Vegas
Transfer Agent
  Empire Stock Transfer Inc.
Employees:  125
ShareHolders:  125
Founded:  2004
Domicile:  Delaware
 
  
 
 Background

 
KeyOn Communications Holdings Inc., together with its subsidiaries, provides wireless broadband, satellite video, and voice over Internet Protocol (VoIP) services primarily to small and rural markets in the western and the midwestern United States. It offers broadband services to homes and businesses; sells and installs DISH Network video packages directly to its subscribers as a reseller; and provides wireless broadband services. KeyOn Communications Holdings serves approximately 15,500 subscribers in Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Nebraska, Nevada, Ohio, South Dakota, Minnesota, and Texas. The company was founded 2002 and is headquartered in Omaha, Nebraska.
History:  INCORPORATED in Delaware Sept. 9, 2004 as Grant Enterprises, Inc. Name changed to KeyOn Communications Holdings, Inc. Aug. 10, 2007. August 9, 2007, a wholly owned subsidiary of the company merged into KeyOn Communications Inc. (KOCI), with KOCI as the survivor to the merger, continuing as a wholly owned subsidiary of the company. In connection with the merger, KOCI stockholders received 6,650,069 shares of the company's Common stock. KOCI was incorporated in Nevada Dec. 16, 2004. Business began in 2002. January 31, 2007, KOCI, through a wholly owned subsidiary, purchased the assets of SpeedNet Services, Inc., including subscriber contracts, accounts, and fixed assets, and assumed certain operating liabilities for $3,458,255 in cash, with certain adjustments to the purchase price for working capital, deferred revenue and the assumption of certain capital lease obligations.
 
Subsidiaries:
KeyOn Communications Inc.
KeyOn Communications, LLC
KeyOn Grand Junction, LLC
KeyOn Idaho Falls, LLC
KeyOn Pahrump, LLC
KeyOn Pocatello, LLC
KeyOn Siris, LLC
KeyOn Spectrum Holdings, LLC
KeyOn SpeedNet, LLC
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Jonathan  SnyderChairman, President & Chief Executive Officer
 Annette  EggertChief Financial Officer & Chief Accounting Officer
 A. Robert HandellSecretary, Exec VP & Chief Operating Officer
 Jason  LazarGeneral Counsel
 John  LiviakisInvestor Relations Contact

Directors
 A. Robert Handell
 Jonathan  Snyder
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Service and Installation Revenue6,724,7107,646,536
Support and Other Revenue173,522147,204
Total Revenues6,898,2327,793,740
EXPENSES
Payroll, Bonuses and Taxes(3,505,812)(6,937,932)
Network Operating Costs(2,804,905)(2,751,534)
Cost of Dish Inventory-(32,541)
Installation Expenses(168,761)(419,277)
Marketing and Advertising(86,209)(320,812)
Professional Fees(1,022,631)(393,432)
Other General and Administrative Expenses(1,256,053)(1,258,826)
Depreciation and Amortization(2,423,657)(2,744,705)
Gain on Acquisition21,686-
Goodwill and Asset Impairment(299,322)(97,635)
Interest Expense(2,256,071)(898,872)
Interest Income2686
Other Income other307,887-
Gain/loss on Disposal of Equipment(88)10,782
Earnings before Taxes(6,595,702)(8,050,358)
TAXES AND OTHER EXPENSES
Net Income (Loss)(6,595,702)(8,050,358)
SUPPLEMENTARY INFO
Operating Income (Loss)(4,669,118)(7,162,954)
Basic EPS - Continuing Operations(0.49)(0.96)
Diluted EPS - Continuing Operations(0.49)(0.96)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash125,08328,032
Accounts Receivable, Net of Allowance for Doubtful Accounts155,228129,592
Inventories114,150172,434
Prepaid Expenses and Other Current Assets114,29674,198
Total Current Assets508,757404,256
NON CURRENT ASSETS
Property and Equipment, net1,614,4543,292,245
Goodwill1,341,8161,641,138
Subscriber Bases, Net182,669562,743
Trademarks16,66716,667
Debt Issuance Costs117,548189,638
Refundable Deposits70,41666,827
Total Assets3,852,3276,173,514
CURRENT LIABILITIES
Accounts Payable and Accrued Expenses1,782,5592,522,884
Accounts Payable and Accrued Expenses-related Parties-43,139
Current Portion of Note Payable-related Parties-567,011
Cash-overdraft50,961120,553
Revolving Line of Credit-related Party100,000100,000
Term Loan Payable-related Party147,0164,500,000
Current Portion of Notes Payable150,450648,610
Current Portion of Capital Lease Obligations643,039596,411
Deferred Revenue213,674310,689
Current Portion of Deferred Rent Liability63,66558,945
Total Current Liabilities3,151,3649,468,242
NON CURRENT LIABILITIES
Term Loan Payable-related Party3,902,984-
Note Payable, Less Current Maturities7,84236,867
Capital Lease Obligations-less Current Maturities503,477854,390
Deferred Rent Liability, Less Current Maturities80,094141,463
SHAREHOLDERS' EQUITY
Common Stock - Par Value20,6868,771
Additional Paid in Capital24,428,92017,358,430
Accumulated Deficit(28,304,720)(21,709,020)
Common Stock Payable101,43314,372
Deferred Compensation(39,751)-
Total Shareholders Equity(3,793,434)(4,327,448)
Total Liabilities & Shareholders Equity3,852,3276,173,514
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   11,590,000
  2009   11,870,000
  2009   21,780,000
  2009   31,670,000
  2009   41,570,000
  2009   Full Year 6,900,000
  2008   12,050,000
  2008   21,990,000
  2008   31,880,000
  2008   41,880,000
  2008   Full Year 7,790,000
  2007   11,500,000
  2007   21,860,000
  2007   31,860,000
  2007   41,970,000
  2007   Full Year 7,200,000
  2006   1560,000
  2006   2610,000
  2006   3600,000
  2006   4660,000
  2006   Full Year 2,430,000
  2005   Full Year 1,660,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(1,960,000)
  2009   1(370,000)
  2009   2(1,130,000)
  2009   3(2,900,000)
  2009   4(1,630,000)
  2009   Full Year (6,600,000)
  2008   1(2,570,000)
  2008   Full Year (8,050,000)
  2007   Full Year (7,610,000)
  2006   Full Year (2,210,000)
  2005   Full Year (3,730,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.09)
  2009   1(.04)
  2009   2(.11)
  2009   3(.20)
  2009   4(.08)
  2009   Full Year (.49)
  2008   1(.31)
  2008   2(.33)
  2008   3(.18)
  2008   4(.14)
  2008   Full Year (.96)
  2007   1(15.58)
  2007   2(20.55)
  2007   3(.40)
  2007   4(.35)
  2007   Full Year (1.18)
  2006   3(.30)
  2006   4(.26)
  2006   Full Year N/A
  2005   Full Year (79.39)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Series A Preferred $0.001 par5,000,000None
Common $0.001 par115,000,00021,181,439
 
LONG TERM DEBT: $15,377,090.
 
Common $0.001 par
 
Stockholders:  04/12/2010, 125.
Transfer Agent:  Empire Stock Transfer Inc.   Henderson , NV
 
OTC Bulletin Board( Primary): KEYO
 
ExchangeYearHighLow
OTC Bulletin Board20092.60000.0400
OTC Bulletin Board20086.00000.0500
OTC Bulletin Board200716.00004.0000
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-2, Nov. 2, 2007.