| Ticker: ASIC | 650 Ten Rod Road | |
| Exchange: NASDAQ-Small Cap Market | North Kingstown, Rhode Island 02852 | |
| Industry: High-Tech | (401) 295-2691 |
| Type of Shares: | Common Shares | Filing Date: | 6/5/96 | |
| U.S. Shares: | 2,133,334 | Offer Date: | 10/16/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $3.75 | |
| Primary Shares: | 2,133,334 | Offer Price: | $3.75 | |
| Secondary Shares: | 0 | Gross Spread: | $3.75 | |
| Offering Amount: | $8,000,003 | Selling: | $0.14 | |
| Expenses: | $900,000 | Reallowance: | ||
| Shares Out After: | 4 |
| Manager | Tier | Phone |
| Joseph Stevens & Company, L.P. | Lead Manager | (212) 361-3000 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $1.99 | Assets: | $2.87 | ||
| Net Income: | -$3.82 | Liabilities: | $3.53 | ||
| EPS: | -$1.88 | Equity: | -$0.66 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops, assembles, sells and services optical data storage systems consisting of integrated computer hardware and software for the archival storage and retrieval of massive quantities of computer-generated information. The company believes that its a faster, more reliable and more economical method of storing vast quantities of computer-generated data than is generally available from other COLD systems or from traditional data storage methods. The company's optical data storage systems, which are marketed under the brand name OAS, ODSM and GIGAPAGE, are sold principally to large organizations that need to store and retrieve large quantities of computer-generated data. Currently, COLD systems developed and manufactured by the company are used by companies such as Pershing Securities. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for i) repayment of indebtedness, including indebtedness in the principal amount of $1.5 million incurred in connection with the bridge financing ii) research and development expenses in connection with the development of a multi-platform, device independent, user transparent modular software package with a client/server interface and external contracting of software enhancements iii) development of a client/server product iv) to further develop and enhance the company's sales and marketing and v) for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.