| Ticker: PMED | 1772 West 2300 South | |
| Exchange: NASDAQ-Small Cap Market | Salt Lake City, Utah 84119 | |
| Industry: Manufacturing | (801) 977-8970 |
| Type of Shares: | Common Shares | Filing Date: | 3/19/96 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 7/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.25 - $7.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $6.25 | |
| Secondary Shares: | 0 | Gross Spread: | $0.63 | |
| Offering Amount: | $6,625,000 | Selling: | $0.32 | |
| Expenses: | $475,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,131,598 |
| Manager | Tier | Phone |
| Kenneth Jerome & Company | Lead Manager | (800) 922-0807 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.51 | $0.09 | $0.36 | Assets: | $1.05 |
| Net Income: | -$0.88 | -$0.68 | -$0.19 | Liabilities: | $1.00 |
| EPS: | -$0.38 | -$0.29 | -$0.08 | Equity: | $0.05 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is engaged in the development and sale of ophthalmic surgical systems designed for minimal invasive cataract treatment. The company's first commercial product, the Precisionist, is a ultrasonic device used for the treatment of cataractous lenses in the eye through a procedure called phacoemulsification. This system utilizes a proprietary "smart pump" software algorithm to control aspiration used to remove the emulsified cataract in a manner that senses vacuum build-up in the eye and adjusts the aspiration flow to eliminate excess pressure in the eye. Further, the system is designed to be effective, lower in price than competing systems, and less expensive to operate on a per surgery basis because of its economic use of reusable component parts. Although the company plans to continue marketing and selling its Precisionist system, the company has developed a laser cataract surgery system which it believes is superior to current ultrasound technology and can become the preferred system for cataract treatment in the future. |
| Use of Proceeds |
| Proceeds from the offering will be used for Photon LaserPhaco manufacturing costs, sales and marketing, research and development, acquisition of capital equipment, repayment of debt, repayment of bridge notes, payment on rescission offer, and working capital. |
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