| Ticker: PXE | 2070 Las Palmas Drive | |
| Exchange: American Stock Exchange | Carlsbad, California 92009 | |
| Industry: Manufacturing | (619) 438-3911 |
| Type of Shares: | Common Shares | Filing Date: | 2/2/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 5/28/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $8.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $5.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.55 | |
| Offering Amount: | $7,000,000 | Selling: | $0.28 | |
| Expenses: | $576,500 | Reallowance: | ||
| Shares Out After: | 2,865,000 |
| Manager | Tier | Phone |
| Nutmeg Securities, Inc. | Lead Manager | (203) 255-5599 |
| Auditor: Harlan & Boettger | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $6.94 | $1.95 | $1.85 | Assets: | $3.50 |
| Net Income: | $0.27 | $0.19 | $0.12 | Liabilities: | $1.96 |
| EPS: | $0.12 | $0.09 | $0.05 | Equity: | $1.55 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company, a California corporation, has produced high quality studio products and services including audio control and mixing consoles, cartridge machines, digital audio workstations, & other peripheral products for the radio broadcasting industry. The company also provides technical furniture and offers studio integration and design services for turnkey systems projects. The company's primary customers are nation's top rated radio stations and network facilities. The company believes it has developed a solid reputation in the broadcasting industry. The company recently introduced, on a limited basis, products for the television broadcast industry. The company's manufacturing and development activities are conducted in four principal areas: audio control consoles, digital recording equipment, peripheral equipment and custom system products. Some of the company's customers include Capital Cities/ABC, Disney, Infinity Broadcasting and Metromedia, Inc. |
| Use of Proceeds |
| The proceeds from the offering will be used for sales and marketing, engineering and development, general operations, debt reduction and working capital. |
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