| Ticker: ECHTA | 4326 U.S. Route 1 | |
| Exchange: NASDAQ-Small Cap Market | Monmouth Jct, New Jersey 08852 | |
| Industry: Manufacturing | (609) 987-8400 |
| Type of Shares: | Class A Common Shares | Filing Date: | 10/3/95 | |
| U.S. Shares: | 1,400,000 | Offer Date: | 1/17/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.47 | |
| Offering Amount: | $7,000,000 | Selling: | $0.15 | |
| Expenses: | $850,000 | Reallowance: | $0.07 | |
| Shares Out After: | 2,900,000 |
| Manager | Tier | Phone |
| D.H. Blair & Co Inc. | Lead Manager | (212) 495-4000 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 8/31/95 | 11/30/95 | 11/30/94 | 11/30/95 | ||
| Revenue: | $0.03 | $0.00 | $0.03 | Assets: | $1.27 |
| Net Income: | -$1.50 | -$0.40 | -$0.38 | Liabilities: | $3.66 |
| EPS: | -$2.88 | -$0.47 | -$0.74 | Equity: | -$2.40 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Company is engaged in developing, manufacturing and marketing medical devices which enhance and expand the use of ultrasound technology for medical applications and procedures. The Company's technologies enable ultrasound imaging to, among other things, identify devices during interventional procedures such as needle biopsies, catherizations and intravascular imaging. Such technologies include a proprietary visualization system ("ColorMark") which highlights metallic objects, such as needles and other interventional instruments, in color to permit them to be easily seen on existing ultrasound imaging screens, and proprietary catheter positioning system ("EchoMark") which electronically marks and displays the position of non-metallic objects, such as catheters, within the body on existing ultrasound imaging screens. The Company believes that products incorporating its technologies can improve and expand the clinical uses of ultrasound imaging for both diagnostic and therapeutic applications and enable clinicians to perform a wide variety of procedures less invasively, more safely, more cost-effectively and with greater precision than is currently possible with conventional x-ray, compound tomography ("CT"), magnetic resonance imaging ("MRI") or optical imaging equipment. In some cases, the Company believes that its products may make it possible to perform on an outpatient basis procedures normally confined to the hospital, thus improving patient comfort and reducing costs. |
| Use of Proceeds |
| The company intends to apply the net proceeds of the offering as follows: 1) $1.025 million - Repayment of Bridge Notes, 2) $1.2 million - Marketing and Sales, 3) $250,000 - Manufacturing Inventory for the ColorMark Clip and the EchoMark OB/GYN, 4) $350,000 - Research and Development, 5) $360,000 - Repayment of Indebtedness, 6) $250,000 - Expenditures for Equipment, 7) $500,000 - Repurchase of Certain Technology Rights and 8) $1.55 million - Working capital. |
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