| Ticker: CTIX | Bethany Crossing Office Center, 82 Bethany Road | |
| Exchange: NASDAQ-Small Cap Market | Hazlet, New Jersey 07730 | |
| Industry: Manufacturing | (908) 888-3828 |
| Type of Shares: | Common Shares | Filing Date: | 1/30/96 | |
| U.S. Shares: | 3,067,000 | Offer Date: | 5/16/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $4.40 | |
| Primary Shares: | 3,067,000 | Offer Price: | $4.40 | |
| Secondary Shares: | 0 | Gross Spread: | $0.30 | |
| Offering Amount: | $13,494,800 | Selling: | $0.10 | |
| Expenses: | $1,067,045 | Reallowance: | $0.05 | |
| Shares Out After: | 4,992,150 |
| Manager | Tier | Phone |
| D.H. Blair & Co Inc. | Lead Manager | (212) 495-4000 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $1.17 | $2.08 | $0.72 | Assets: | $15.32 |
| Net Income: | -$12.26 | -$2.54 | -$10.81 | Liabilities: | $20.09 |
| EPS: | -$16.68 | -$2.14 | Equity: | -$4.77 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an early stage specialty materials company currently engaged in developing, manufacturing and marketing industrial abrasives produced in a patented process utilizing industrial wastes as raw materials, together with certain virgin materials The company also recycles cathode ray tube glass used in televisions for sale to the original manufacturers of such glass and others. Substantially all of the company's revenues to date have been derived from its CRT glass recycling operations and, although the company plans to continue its CRT glass recycling operations, the company's primarily focus is on the development, manufacturing and marketing of its abrasives. The company also utilizes its manufacturing equipment to convert certain types of CRT glass and certain other manufacturing by-products and industrial wastes into manufacturing raw materials for use by the company in its production of abrasives and for sale to other manufacturers. The company's initial abrasives product is its ALUMAGLASS brand of manufactured abrasives..ALUMAGLASS can be used as a loose grain abrasive applied with blasting equipment or as an ingredient in products such as polishing agents and non-skid flooring. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay $2.225 principal amount of 10% promissory notes issued in the Bridge financing, plus accrued interest thereon ; to repay indebtedness; to repay accounts payable more than 30 days past due; for capital expenditures; for marketing and promotional efforts; for research and development; for project development; and for working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.