Funds from the IPO were used to pay off the money owed to Cisco. As far as I know, CBeyond uses 100% Cisco equipment. This company bills all of their customers electronically, using an interface with Checkfree(CKFR). More than 30% of their customers also pay their bills online. Years back, the vice-president of Worldcom said that it cost twice as much to bill for their service than it did to provide it. To my mind, this company has three major advantages over their competition. 1). They have no debt. 2). They use VOIP for their service offerings(no old-technology legacy costs) 3). They bill and get paid online. As far as the stock price goes, I am looking for 7-8 bucks. At that price I will be buying whole hog.