| Ticker: GLAR | 3137 Grandview Highway | |
| Exchange: NASDAQ-Small Cap Market | Vancouver, Foreign V5M 2E9 | |
| Industry: Manufacturing | (604) 435-8801 |
| Type of Shares: | Common Shares | Filing Date: | ||
| U.S. Shares: | 680,000 | Offer Date: | 5/1/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 680,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $3,400,000 | Selling: | $0.30 | |
| Expenses: | $287,000 | Reallowance: | $0.15 | |
| Shares Out After: | 1,612,421 |
| Manager | Tier | Phone |
| Global Financial Group | Lead Manager | (800) 804-6635 |
| Miller Financial Group | Co-manager | (414) 242-1511 |
| Auditor: BDO Dunwoody | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/96 | 1/31/96 | ||||
| Revenue: | $4.19 | Assets: | $2.63 | ||
| Net Income: | $0.19 | Liabilities: | $1.16 | ||
| EPS: | $0.20 | Equity: | $1.46 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, develops, manufactures and sells sunroof wind deflectors, hood protectors and rear air deflectors for cars, light trucks and vans. It uses plastics and thermoforming technology to produce these products. The company manufactures these products at its factory in Vancouver, Canada. In addition, the company is in the process of finalizing an agreement with Isuzu of Japan to develop and supply a door visor for Isuzu's heavy trucks. This agreement, if finalized, will represent a new customer, new product and new accessories for heavy trucks. The company sells its products principally in the United States and Japan, primarily to automobile manufacturers which market the products under their own brand names through their dealership networks. The company's customers include BMW, Chrysler, General Motors, Honda, Jaguar, Mazda, Nissan, Subaru and Toyota. |
| Use of Proceeds |
| Proceeds from the offering will be used to purchase production machinery; to purchase tooling and equipment for producing prototypes; for marketing and promotion; for development of a distribution channel in the non-dealership after-market; for research and development; to purchase computer aided design software and related hardware; to investigate manufacturing acrylic and to purchase acrylic manufacturing equipment if management determines that it is in the best interests of the company to do so. |
©1996 IPO Data Systems, Inc. - All rights reserved.