| eLEC
Communications Corp. is a publicly traded local
telecommunications company that is taking advantage of the
convergence of the current and future competitive, technological
and regulatory developments in the Internet and telecommunications
markets through the integration of its wholly-owned
subsidiaries, Essex Communications and WebQuill
Internet Services. The company provides an integrated
suite of communications services to small and medium-sized
business customers, including local, long distance, dial-up
access, dedicated access, and Web site design and hosting.
Summary
of eLEC Holdings
eLEC owns 4mm shares of Access One (23%)
Access One is a DSL / UNE-P clec out of Florida and
has over 65k lines under subscription. MCG, a debt facility
partially owned by Goldman Sachs, provided $15mm in debt in June.
They are over $20mm in annual revenues and growing by over 1,000
lines per week. Access One is IPO candidate after Y2K.
eLEC owns 100% of Essex
Essex owns 225k shares of eLEC. Essex is a DSL /
UNE-P clec based out of Connecticut. Grew from 2,000 to over
10,000 lines in 3 months. They are operating in NY, NJ, VA, MA,
RI, CT...a densly populated area of the US, and growing by
500-1,000 lines per week. They recently acquired an equipment
service provider to help with expansion of infrastructure and
quality of service. This company is also a future IPO candidate.
eLEC owns 100% of WebQuill
WebQuill owns 375k shares of eLEC. WebQuill is an
ISP that provides Access One and Essex customers with DSL and POTS
internet access, web hosting, site development, and some inventory
services. They recently selected infospace.com to host their
QuillPages, an internet directory service. This company is also a
potential IPO candidate.
eLEC owns 30% of RiderPoint
RiderPoint owns 250k shares of eLEC.
RiderPoint is an on-line recreational vehicle (nice niche market!)
insurance sales. Recent PR show expansion of sales capabilities to
include many additional states and soon will be operational in all
of the lower 48 states. It is not known whether or not this
company would be / could be a potential IPO candidate. Expansion
to also include other financial services is certainoly a
possibility (loans/finance to facilitate dealers of recreational
vehicles? Why not?)
eLEC owns 19% of SkyClub
SkyClub owns 120k shares of eLEC. SkyClub
sells satelite equipment and services for TV and digital internet
access. This company has been very quiet since going live and not
much is known about future plans.
eLEC owns 100% of TagAir
TagAir owns 150k shares of eLEC. TagAir is a
niche ecom seller of uniforms for the aviation industry. This
company has also been very quiet. An expansion to include
additional industries a possibility but pure speculation at this
point.
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