| Proposed Ticker: SRSL | 2909 Daimler Street | |
| Exchange: NASDAQ-National Market | Santa Ana, California 92705 | |
| Industry: Manufacturing | (714) 442-1070 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 6/3/96 | |
| U.S. Shares Filed: | 3,100,000 | Filing Range: | $10.00 - $12.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $34,100,000 | |
| Primary Shares: | 3,100,000 | Expenses: | $800,000 | |
| Secondary Shares: | 0 | Shs Out After: | 9,461,096 | |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Cruttenden & Company, Inc. | Co-manager | (714) 757-5700 |
| Montgomery Securities | Co-manager | 4156272220 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $0.82 | $2.10 | $0.33 | Assets: | $2.75 |
| Net Income: | -$1.64 | $0.51 | -$0.82 | Liabilities: | $1.15 |
| EPS: | -$0.27 | $0.07 | -$0.14 | Equity: | $1.60 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops and markets and licenses patented audio technologies for use in five worldwide markets; consumer home audio; computer multimedia; car audio; professional sound and video arcade games. The Company licenses its flagship technology, SRS, the Sound Retrieval System, to leading original equipment manufacturers such as Apple, Kenwood, NEC, Packard Bell, Pioneer, Sharp, Sony, and Thomson Consumer Electronics (RCA). SRS creates and immersive three-dimensional sound image from any audio source with as few as two conventional stereo speakers. The technology is based on the fundamentals of the human hearing system and recreates the multitude of spatial cues that are present in a live listening environment but are lost in recording and playback. SRS can be easily and inexpensively incorporated by OEMs into manufacture of a wide variety of audio-related consumer products such as TVs, computers, stereo receivers, VCRs, car radios, video games and musical instruments. The technology can also be encode onto CDs, casettes or video tapes during the recording process and reproduced through a conventional stereo system, multimedia computer, radio or television broadcast, or the Internet. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital requirements and for general corporate purposes, including funding and development of new technologies through acquisitions or internal research and development, sales and marketing. |
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