| Ticker: ORTC | ||
| Exchange: NASDAQ-National Market | Glendale, New York | |
| Industry: Manufacturing |
| Type of Shares: | Common Shares | Filing Date: | 8/21/95 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 1/23/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,200,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $6,000,000 | Selling: | ||
| Expenses: | $290,000 | Reallowance: | ||
| Shares Out After: | 3,608,972 |
| Manager | Tier | Phone |
| Patterson Travis, Inc. | Lead Manager | (212) 837-7340 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| Revenue: | Assets: | ||||
| Net Income: | Liabilities: | ||||
| EPS: | Equity: | ||||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company has developed a proprietary technology to create natural replacement skin. The company's product is intended to be utilized for the treatment of severe burn patients as well as for other types of wound healing and for reconstructive and cosmetic surgery. The company believes that the successful generation of replacement skin creates the potential for wide commercial application. The company is a development stage company and to date has not sold any products. Its activities have been limited to human clinical tests of its product and research and development under an exclusive license for the company's skin replacement product. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for the expansion of FDA permitted testing, equipping a new laboratory, repayment of outstanding loans, payment of deferred salaries and for working capital. |
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