| Ticker: CXI | 150 East 58th Street, Suite 3400 | |
| Exchange: American Stock Exchange | New York, New York 10155 | |
| Industry: Utilities | (212) 308-5800 |
| Type of Shares: | Common Shares | Filing Date: | 5/2/96 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 6/28/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.48 | |
| Offering Amount: | $30,000,000 | Selling: | $0.24 | |
| Expenses: | $375,000 | Reallowance: | ||
| Shares Out After: | 20,000,000 | |||
| Spin out parent firm: | Commodore Environmental Services, Inc. | |||
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (206) 622-7200 |
| Auditor: Tanner + Co. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $1.17 |
| Net Income: | -$3.86 | -$0.92 | $0.81 | Liabilities: | $7.66 |
| EPS: | -$0.26 | -$0.06 | -$0.05 | Equity: | -$6.48 |
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 environmental technology company which has developed and intends to market a process designed to treat and decontaminate soils and other materials. The Company also believes that, based on the results of its additional tests, Agent 313 is capable of neutralizing chemical weapons materials and warfare agents and of concentrating certain radioactive wastes for more effective disposal. Tests of Agent 313 have been conducted since 1989 and have been financed to date by the Company principally from borrowings and investments from its stockholders. Agent 313 is based upon solvated electron chemistry, in which solvents such as anhydrous liquid ammonia are mixed with various active metals to produce a solvated electron solution. Most of the other available environmental treatment and disposal methods for toxic substances involve safety risks with respect to air pollution and transportation of hazardous materials. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund proposed collaborative ventures, for research and development, lease and equip an additional facility, to repay debt and for working capital and general corporate purposes. |
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