| SAC Technologies, Inc. | |||
| Ticker: | SACM | 4444 West 76th Street, Suite 600 | |
| Exchange: | Over-the-Counter Market | Edina, MN 55435 | |
| Industry: | High-Tech (SIC Code 3577) | (612) 835-7080 | |
| Type of Shares: | Common Shares | Filing Date: | 11/20/96 | |
| U.S. Shares: | 1,100,000 | Offer Date: | 2/14/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 1,100,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.51 | |
| Offering Amount: | $6,600,000 | Selling: | $0.40 | |
| Expenses: | $367,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,608,750 |
| Manager | Tier | Phone |
| Tuschner & Co. | Lead Manager |
| Issuer's Law Firm: | Doherty, Rumble & Butler |
| Bank's Law Firm: | Merritt, Furber & Timmer |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $0.23 | $0.00 | $0.15 | Assets: | $0.33 |
| Net Income: | -$0.09 | -$0.52 | -$0.12 | Curr Assets: | |
| EPS: | -$0.03 | -$0.20 | -$0.05 | Liabilities: | $0.19 |
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $0.14 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company develops, markets, distributes, manufactures, and assembles fingerprint identification products for use in general commercial and consumer market applications. It is generally recognized that fingerprint patterns are unique to each individual. However, manual fingerprint analysis is time-consuming, tedious, and potentially unreliable. The company's focus has been to develop automated fingerprint identification products for the access control market which are portable, easily integrated with existing applications, and affordable for mass commercial uses. The company has completed the development of its initial automated fingerprint identification product called SACMan (tm). The company's products, including SACman, are designed to provide controlled access to information, resources, and facilities. |
| Competition |
| In addition to existing commonplace methods of restricting access to facilities such as pass cards, personal identification numbers, password access, and locks and keys, there are numerous companies involved in the development, manufacture, and marketing of fingerprint biometric products to government, law enforcement, prison, and consumer markets. Some of these companies include Computer Research Labs, Digital Biometrics, Inc., Printrak International, Identicator, Identix, Fingermatrix, Inc., Mytec Technologies, Inc., The National Registry, Sandia Labs, Fujitsu, Biometric Identification, Inc., and Ultrascan, Inc. Many of these competitors have substantially greater resources and experience in developing and marketing biometric products. |
| Business Plan |
| The cmpany currently plans to market its products through various distributors, original equipment manufacturers, dealers, value added resellers, as well as directly to end users. Marketing plans include direct mailing, telemarketing, trade show presentations, advertising in trade publications, and catalog sales. The company plans to develop an effective strategy for identifying the major purchasing entities in each of its target and determine the appropriate medium for reaching such entities. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for sales and marketing activities, research and development and working capital. |