| Ticker: AMAR | 800 West 9th Avenue | |
| Exchange: NASDAQ-Small Cap Market | Amarillo, Texas 79101 | |
| Industry: Service | (806) 376-1741 |
| Type of Shares: | Common Shares | Filing Date: | 5/23/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 8/7/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $7.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $12,000,000 | Selling: | $0.20 | |
| Expenses: | $300,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,114,232 |
| Manager | Tier | Phone |
| Whale Securities Company | Lead Manager | (212) 484-2057 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $2.01 | $0.42 | $0.65 | Assets: | $1.42 |
| Net Income: | -$0.31 | $0.01 | -$0.08 | Liabilities: | $2.74 |
| EPS: | -$0.10 | $0.00 | -$0.02 | Equity: | -$1.32 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a developmental stage company that is engaged in developing biologics for the treatment of human and animal diseases. The company is currently focusing its research an human health indications for the use of low dose oral natural interferon alpha, particularly for the treatment of Sjogren's syndrome, oral musositis in cancer patients and hepatitis B and C. The company believes that significant worldwide opportunities exist for the development of low dose oral natural IFNa as an inexpensive, non-toxic, efficacious alternative to the treatment of disease by injection of high doses of IFNa can be an effective treatment for diseases or conditions for which current therapies are inadequate. The company owns or licenses ten United States patents relating to low dose oral natural IFNa. The company is also testing oral IFNa in cats with herpesvirus-1 infection, dogs with keratoconjunctivitis sicca and cattle with shipping fever or mastitis and has filed, and there are now in effect, Investigational New Animal Drug Notices for these and other indications in animals. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for research and development, for repayment of certain short-term indebtedness to HBL and the balance for working capital and other general corporate purposes. |
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