| Thermacell Technologies, Inc. | |||
| Ticker: | VCLL | 5419 Provost Drive | |
| Exchange: | NASDAQ-Small Cap Market | New Port Richey, FL 34690 | |
| Industry: | Manufacturing (SIC Code 2851) | (813) 938-3269 | |
| Type of Shares: | Common Shares | Filing Date: | 2/19/97 | |
| U.S. Shares: | 1,375,000 | Offer Date: | 3/12/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 1,375,000 | Offer Price: | $4.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $8,250,000 | Selling: | $0.20 | |
| Expenses: | $550,000 | Reallowance: | $0.10 | |
| Shares Out After: | 3,072,210 |
| Manager | Tier | Phone |
| Monroe Parker & Company | Lead Manager | (914) 696-4200 |
| Issuer's Law Firm: | Johnson, Blakely, Pope, Bokor, Ruppel and Burns |
| Bank's Law Firm: | Singe Zamansky LLP |
| Auditor: | Cherry, Bekaert & Holland |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 11/30/96 | 11/30/96 | ||||
| Revenue: | $0.62 | Assets: | $1.54 | ||
| Net Income: | -$1.03 | Curr Assets: | |||
| EPS: | -$1.34 | Liabilities: | $2.90 | ||
| Prior EPS: | -$0.53 | Curr Liabilities: | |||
| Cash Flow/Oper: | -$0.46 | Equity: | -$1.36 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was formed for the purpose of developing, manufacturing and marketing insulating materials and coatings using partially evacuated glass microspheres. The process of evacuation removes air from the sphere, thereby creating a vacuum. A shell is a very small glass sphere made by crushing glass particles. The insertion of shells into various materials and products can substantially improve the thermal resistive characteristics of such materials and products resulting in improved insulation values. The more a shell is evacuated, the higher the thermal resistive characteristics of the product or material to which the shells are added. Management of the company believes that there is a broad range of applications for introduction into products of evacuated or partially evacuated shells, the effect of which is improved energy efficiency of such products because of the inherent insulating characteristics provided by the glass spheres. |
| Competition |
| The company's ThermaCool TM products compete in the special purpose coatings market which is in extremely competitive market principally composed of large multinational companies which have significantly greater assets, working capital and marketing personnel than the company. Special purpose coatings are similar to architectural coatings such as normal house paints but differ in that they are formulated for special applications or environmental conditions, such as extreme temperatures, chemicals or corrosive conditions. |
| Business Plan |
| The company's business strategy to become profitable by commercially exploiting its hell technologies is dependent upon the successful implementation of the following: 1) expand the marketing and distribution of Thermacool-TM paints and coatings; 2) develop and manufacture the company's own shells; 3) expand the shell technology to other products. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for advertising and marketing, acquisition of property, plant and equipment, repayment of loans, new product applications and development, automating and updating the Darling Paint equipment and facilities and working capital. |
| # of Units: | 1,375,000 | |||
| Unit Ticker: | VCLLU | Unit Price: | $4.00 | |
| Warrant Ticker: | VCLLW | Warrant Price: | ||
| Warrant Exercise Date: | Warrant Exercise Price: | |||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 1 Common Share + 1 Series A Warrant |
| Warrant Entitlement: 1 Common Share |