| Ticker: BELT | 611 Broadway, Suite 415 | |
| Exchange: NASDAQ-Small Cap Market | New York, New York 10012 | |
| Industry: High-Tech | (212) 982-0800 |
| Type of Shares: | Common Shares | Filing Date: | 11/3/95 | |
| U.S. Shares: | 1,150,000 | Offer Date: | 1/24/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $7.00 | |
| Primary Shares: | 1,150,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.70 | |
| Offering Amount: | $8,050,000 | Selling: | $0.28 | |
| Expenses: | $370,000 | Reallowance: | $0.14 | |
| Shares Out After: | 2,910,710 |
| Manager | Tier | Phone |
| Rickel & Associates, Inc. | Lead Manager | (800) 678-2664 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/94 | 9/30/95 | 9/30/94 | 9/30/95 | ||
| Revenue: | $6.52 | $8.74 | $4.33 | Assets: | $2.96 |
| Net Income: | -$0.14 | $0.04 | -$0.18 | Liabilities: | $2.66 |
| EPS: | -$0.11 | $0.02 | -$0.15 | Equity: | $0.30 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company together with its wholly owned subsidiaries, is engaged in the sale and servicing of hardware and third party software, the design, installation and maintenance of computer systems and networks, as well as providing training services. The company is also engaged in the design, sale and installation of dedicated Internet connections for commercial use. The company's current principal business is the sale, installation and servicing of Apply Computer, Inc. products, which are primarily sold to large organizations, many of whom are engaged in the advertising and publishing industries. The company's current customers include many of the top 50 advertising agencies and large publishing companies in the New York City metropolitan area. The company also provides computer maintenance, repair and training services, as well as graphic design and consulting services. In addition, the company is currently developing an experimental on-line network game playing service. Although at present, a very substantial portion of the company's gross revenue is derived from the sale of computer products, it is the intention of the company to focus the company's future growth in areas other than the sale of computer hardware and software such as service, training consulting, direct Internet access connections and Web design. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to expand and upgrade the company's Internet access and networking business; increase sales and marketing efforts; repay certain outstanding indebtedness of the company; expand the company's service facilities; further develop the company's experimental on-line game playing service; make a loan to Marc H. Bell, the company's President and Chief Executive Officer; and for working capital and other general corporate purposes. |
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