Return to tldapps Forum - Message Thread - FAQ

Username: RDM
Date/Time: Thu, October 19, 2000 at 12:36 AM GMT
Browser: Microsoft Internet Explorer V5.01 using Windows 98
Score: 5
Subject: NSI Experienced High Level of Uncollectible Receivables - Latest 10-K

Message:
 

 
Provided below is a clip from NSI's latest 10-K which can be found at www.freeedgar.com.  Should ICANN be concerned about the Afilias business plan in light of the information presented below?  Perhaps.  A direct link can be found at:

http://www.freeedgar.com/Search/ViewFilings.asp?CIK=1030341&Directory=950133&Year=00&SECIndex=1314&Extension=.tst&PathFlag=0&TextFileSize=434553&SFType=&SDFiled=&DateFiled=3/30/2000&SourcePage=FilingsResults&UseFrame=1&OEMSource=&FormType=10-K405&CompanyName=NETWORK+SOLUTIONS+INC+%2FDE%2F

Bon Apetite

P.S. I would encourage all concerned to review their SEC filings, especially their 10-Ks and 10-Qs.  This goes for other publicly-held companies as well.  Such companies are required to disclose an immense amount of information to the public.

*********

We have a high level of uncollectible receivables

      Because of our high level of uncollectible receivables, we continually review our billing practices. Any modifications that we implement including prepayment or other reasonable assurance of payment for new registration orders could have unanticipated harmful consequences to our business. We have recently implemented a prepayment or reasonable assurance of payment terms billing practice as required by our agreements with ICANN. We believe we have experienced a high level of uncollectible receivables due to, among other factors, the large number of individuals and corporations that have registered multiple domain names with the apparent intention of transferring such names at a profit. Our experience has been that such speculative resellers have a greater tendency than other customers to default on their services fees. We have established a provision for uncollectible accounts which we believe to be adequate to cover anticipated uncollectible receivables; however, actual results could differ from our estimates.
      
     

 


Message Thread: