| Ticker: LPTHA | 1665 East 18th Street, Suite 103 | |
| Exchange: NASDAQ-Small Cap Market | Tucson, Arizona 85719 | |
| Industry: Manufacturing | (520) 88-4742 |
| Type of Shares: | Class A Common Shares | Filing Date: | 12/7/95 | |
| U.S. Shares: | 1,600,000 | Offer Date: | 2/22/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,600,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.45 | |
| Offering Amount: | $8,000,000 | Selling: | $0.14 | |
| Expenses: | $800,000 | Reallowance: | $0.07 | |
| Shares Out After: | 6,315,742 |
| Manager | Tier | Phone |
| D.H. Blair & Co Inc. | Lead Manager | (212) 495-4000 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $0.17 | $0.08 | $0.08 | Assets: | $1.54 |
| Net Income: | -$2.79 | -$1.59 | -$1.32 | Liabilities: | $7.13 |
| EPS: | -$3.95 | -$2.12 | -$1.94 | Equity: | -$5.59 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a development stage enterprise engaged in the research, development and production of gradium lenses. Gradium is an optical quality glass material with varying refractive indices, capable of reducing optical aberrations inherent in conventional lenses and performing with a single lens, or fewer lenses, tasks performed by multi-element conventional lens systems. The company believes that Gradium lenses provide advantages over conventional lenses for certain applications. By reducing optical aberrations, the company believes that Gradium lenses can provide sharper images, higher resolutions, less image distortion, a wider usable field of view and a smaller focal spot size. By reducing the number of lenses in an optical system, the company believes that Gradium can provide more efficient light transmission and greater brightness, lower production costs, and a simpler, smaller product. |
| Use of Proceeds |
| The company intends to apply the net proceeds over the 18 months period following the completion of this offering, as follows: 1) $1.275 million - Repayment of Bridge Notes and related interest, 2) $820,000 - Payment of Trade Payables, 3) $150,000 - Payment of Deferred Salaries, 4) $1.2 million - Marketing and Sales, 5) $900,000 - Manufacturing and Acquisition of Production Equipment, 6) $500,000 - Research Development and 7) $1.635 million - Working capital. |
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