| Ticker: PCNA | 577 Deltona Boulevard | |
| Exchange: NASDAQ-National Market | Deltona, Florida 32725 | |
| Industry: Manufacturing | (407) 860-3000 |
| Type of Shares: | Common Shares | Filing Date: | 3/13/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 5/17/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $6.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $5.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.55 | |
| Offering Amount: | $5,500,000 | Selling: | $0.33 | |
| Expenses: | $475,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,961,000 |
| Manager | Tier | Phone |
| Laidlaw Equities, Inc. | Lead Manager | (212) 949-5831 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $1.95 | $0.98 | $0.09 | Assets: | $1.24 |
| Net Income: | $0.36 | $0.20 | -$0.03 | Liabilities: | $0.91 |
| EPS: | $0.12 | $0.07 | -$0.01 | Equity: | $0.33 |
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 integrated full service provider of specialty publishing for bar associations, focusing on print directories and Internet services. The company's principal product is the publication of city and county bar association print directories throughout the United States. Bar association directories contain a complete listing of member attorneys and bar executives along with their addresses and telephone numbers. They often contain court information and specialized local information which attorneys may need in order to carry on their business. In 1996. the company expanded its business to include electronic publishing on the Internet. The company publishes its print and electronic directories on a turnkey basis. As a turnkey publisher, the company assumes all costs of publication, including design, printing and binding for its print directories as well as providing a Web site for its electron inc directories. The company relies upon the sale of advertising to generate its principal revenues. both the print bar directories and Web sites are provided at no cost to bar associations. |
| Use of Proceeds |
| Proceeds from the offering will be used for the expansion of Internet services, repayment of notes issued in the Private Placement, establishment of a program to secure long term agreements to publish bar association print and electron inc directories, purchase of equipment, expansion of sales and marketing, potential acquisitions and for working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.