| Ticker: BZET | 1225 Northmeadow Parkway, Suite 120 | |
| Exchange: NASDAQ-National Market | Roswell, Georgia 30076 | |
| Industry: Manufacturing | (770) 740-8180 |
| Type of Shares: | Common Shares | Filing Date: | 2/1/96 | |
| U.S. Shares: | 1,819,000 | Offer Date: | 3/19/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 1,819,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $25,466,000 | Selling: | $0.40 | |
| Expenses: | $630,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,431,153 |
| Manager | Tier | Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 576-3423 |
| Montgomery Securities | Co-manager | 4156272220 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Volpe, Welty & Company | Co-manager | (415) 956-8120 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.00 | Assets: | $7.78 | ||
| Net Income: | -$8.74 | Liabilities: | $1.72 | ||
| EPS: | -$2.34 | Equity: | $6.05 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company manufactures a breast cancer testing device called the Biofield Diagnostic System. The product works by placing wired sensors on a woman's breast and tests for changes in cellular electrical charge distributions through the patient's skin. Based on its clinical data to date, including test results from over 1000 women at multiple sites, the Company believes that its proposed breast cancer diagnostic product, the Biofield Diagnostic System, will improve early diagnosis, reduce diagnostic uncertainty and decrease the number of surgical biopsies performed on benign lesions. The Company must apply for and receive pre-market approval from the U.S. Food and Drug Administration ("FDA") before the Biofield Diagnostic System can be distributed commercially in the United States. The COmpany believes that the Biofield Diagnostic System will offer patients and physicians several advantages compared to currently available modalities used in breast cancer diagnosis, including the following: 1) immediate, objective test results that indicate the probability that a suspicious lesion is malignant or benign, 2) a non-invasive procedure that does not expose the patient to radiation 3) a diagnostic test which does not appear to be adversely affected by lesion size or patient age, 4) a procedure that can be performed in less than 20 minutes in a physician's office and 5) significantly lower capital costs than x-ray mammography or other imaging equipment. |
| Use of Proceeds |
| The company anticipates using the net proceeds from this offering as follows: approximately $9,000,000 for the completion of clinical trials, seeking regulatory approvals and commencing commercial manufacturing, sales and marketing for the Biofield Diagnostic System; approximately $5,400,000 for the development of, and clinical trials for, the Biofield Screening System; approximately $1,800,000 for product development, clinical trials and commercial introduction of expanded applications of the company's technology and product engineering for enhancements of the Biofield Diagnostic Device and ZEROSET sensors; and approximately $1,800,000 for general corporate purposes. |
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