ATLANTA, July 29, 1997 /PRNewswire/ -- Iperdome, Inc.
(http//www.iperdome.com), a new company formed specifically to offer
Personal Domain Names under the ".per" Top Level Domain (TLD),
today announced that it has decided to "test-the-waters" for an
upcoming Internet IPO. This follows recent announcements by two other
industry competitors, each of which are offering different ways for
investors to participate in the new registry industry.
Network Solutions, Inc. (NSI) recently filed for a 35
million dollar IPO, representing a yet-to-be determined percentage of class
A stock (reduced voting rights). Shortly thereafter, the iPOC
committee started accepting $10,000 non-refundable application fees for
registry franchises.
Both organizations, however, face a tremendous amount of
uncertainty in their offerings. NSI is currently involved in a
Justice Department investigation with regard to potential Sherman
anti-trust violations as alleged in a pending lawsuit filed by PG Media,
Inc. And the iPOC, concerned that they may fail to gain entry in the
U.S. Government funded roots, have shielded themselves from potential
lawsuits by incorporating a no-refund provision into their application
process, and by requiring all applicants to indemnify the organization for
any liabilities incurred.
"All three of these offerings (NSI, iPOC, Iperdome)
face similar uncertainties with regard to the future status of their TLDs
in the U.S. Government funded roots," said Jay Fenello, Iperdome
President. "We feel that Iperdome is well positioned to offer
investors a better way to participate in this process."
Iperdome's proposed offering, also known as a Direct Public
Offering, is being made under a Regulation D, Rule 504 exemption as allowed
under the SEC, and will be filed under a SCOR Form U7 as allowed in over 45
states.
Iperdome has been active in the new registry industry, and
has recentlyaligned with companies like Network Solutions, Inc. and PSINet,
Inc. to oppose the IAHC proposal. Iperdome strongly supports open
discussions about Internet governance, and is a leading supporter of
free-market based solutions for the Internet. Jay Fenello will be one
of the featured speaker at Wednesday's CDT/ITAA/ISA DNS Conference (http//www.itaa.org/dnsconf.htm).
NOTE Iperdome is only "testing-the-waters" as
allowed under federal and state securities laws. This press release
shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
