| Commodore Separation Technologies, Inc. | |||
| Ticker: | CXOT | 150 East 58th Street, Suite 3400 | |
| Exchange: | NASDAQ-Small Cap Market | New York, NY 10155 | |
| Industry: | Manufacturing (SIC Code 3559) | (212) 308-5800 | |
| Type of Shares: | Common Shares | Filing Date: | 9/12/96 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 4/3/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $8.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $10,500,000 | Selling: | $0.24 | |
| Expenses: | $533,500 | Reallowance: | $0.10 | |
| Shares Out After: | 20,000,000 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (800) 800-9217 |
| Issuer's Law Firm: | Greenberg Traurig Hoffman Lipoff Rosen & Quentel |
| Bank's Law Firm: | Orrick, Herrington & Sutcliffe |
| Auditor: | Tanner & Co. |
| Registrar/Transfer Agent: | Bank of New York |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $0.00 | Assets: | $0.02 | ||
| Net Income: | -$0.06 | Curr Assets: | |||
| EPS: | -$3.00 | Liabilities: | $0.08 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | -$0.06 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| Commodore Separation Technologies, Inc. is a process technology company which has developed and intends to commercialize its separation technology and recovery system, known as CST. Based on the results of more than 100 laboratory tests and one significant field test to date, the company believes that CST is capable of effectively separating and extracting various solubilized materials, including metals, organic chemicals, biochemicals, radionuclides and other targeted substances, from liquid and gaseous process streams. Industrial companies create liquid and gaseous mixed process streams in the course of their manufacturing and product development activities which frequently require costly treatment and disposal to comply with regulatory requirements. These process streams often contain valuable materials which can be reused if they can be extracted in a sufficient concentration and degree of purity. |
| Competition |
| The most common alternative methods for metals separation from solubilized process streams presently include ion exchange, reverse osmosis, precipitation, ultrafiltration and chromatography. The company believes that most of these methods have certain drawbacks, including lack of selectivity the separation process, inability to handle certain metals in the process streams, and the creation of sludges and other harmful by-products which require further post-treatment prior to disposal. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase its initial CST inventory; conduct ongoing development; acquire manufacturing equipment; establish its Atlanta facility; fund proposed collaborative arrangements; and for working capital and general corporate purposes. |