| Ticker: PANL | 1221 Centennial Road | |
| Exchange: NASDAQ-Small Cap Market | Penn Valley, Pennsylvania 19072 | |
| Industry: Service | (215) 229-4435 |
| Type of Shares: | Common Shares | Filing Date: | 12/21/95 | |
| U.S. Shares: | 1,300,000 | Offer Date: | 4/11/96 | |
| 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: | $0.20 | |
| Expenses: | $817,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,937,268 |
| Manager | Tier | Phone |
| Whale Securities Company | Lead Manager | (212) 484-2057 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $0.00 | Assets: | $0.01 | ||
| Net Income: | -$3.07 | Liabilities: | $0.59 | ||
| EPS: | -$0.38 | Equity: | -$0.58 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company, an early stage development company, was organized to fund the research and development of organic light emitting diode technology for potential commercial applications in full color, flat panel, emissive light displays. Since the research efforts relating to the OLED technology are in the early stage, the company is unable, at this time, to determine the feasibility of the OLED technology or the commercial viability of any potential application. If the OLED technology is successfully developed and the company determines that the OLED technology has commercially viable applications, of which there can be no assurance, the company will seek to enter into licensing arrangements and other strategic alliances for the manufacture and marketing of flat panel displays utilizing the OLED technology. The company anticipates that the OLED technology, if successfully developed, may have a variety of applications, including full color, large area, high resolution, high information content displays, as well as for displays which currently utilize cathode ray tube technology, such as desk top computer monitors, televisions and other non-flat panel displays. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the preparation, filing and prosecution of patent applications and the enforcement of intellectual property rights; research and development; and the balance for working capital and general corporate purposes. |
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