| Ticker: LUST | 598 Broadway | |
| Exchange: NASDAQ-Small Cap Market | New York, New York 10007 | |
| Industry: High-Tech | (212) 966-8887 |
| Type of Shares: | Common Shares | Filing Date: | 1/18/96 | |
| U.S. Shares: | 1,300,000 | Offer Date: | 3/21/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,300,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $6,500,000 | Selling: | $0.13 | |
| Expenses: | $460,750 | Reallowance: | $0.06 | |
| Shares Out After: | 3,668,719 |
| Manager | Tier | Phone |
| A.S. Goldmen & Co., Inc. | Lead Manager | (212) 742-8500 |
| Auditor: Drucker, Math & Whitman | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.00 | Assets: | $0.67 | ||
| Net Income: | -$0.64 | Liabilities: | $0.60 | ||
| EPS: | -$0.27 | Equity: | $0.07 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, manufactures and markets interactive multimedia software education and entertainment titles on CD-ROM. The Company intends initially to market these titles under the name "Intelligent Fun & Games". The Company will seek to develop a niche in the area of travel and culture titles, and the Company's two titles under development are intended to expose people of all ages to the world and its many diverse cultures. In May 1995, the Company entered into a licensing agreement with MGM/IA Licensing and Merchandising, a division of Metro-Goldwyn-Mayer Inc. ("MGM"), to use the Pink Panther character and other related characters in two interactive multimedia CD-ROMs. The Company's initial format of its proposed products will be CD-ROMSs for the MPC. The Company may develop on-line products in the future for the internet. The Company is primarily engaged in research and development activities and has not generated any revenues to date. A design document for the first title in the Company's "Intelligent Fun & Games" series has been completed and the title is currently under development. The Company believes that the market for interactive software products will continue to grow as the installed base of personal computers with CD-ROM drives grows. |
| Use of Proceeds |
| The company intends to allocate the net proceeds of the offering as follows: 1) $3.2 million - Product development, 2) $1 million - Sales and marketing, 3) $400,000 - Purchase and/or lease of equipment and 4) $1,261,750 - Working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.