| Ticker: HMSC | 514 Centennial Avenue | |
| Exchange: NASDAQ-Small Cap Market | Cranford, New Jersey 07016 | |
| Industry: Manufacturing | (908) 709-3434 |
| Type of Shares: | Common Shares | Filing Date: | 6/24/96 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 8/14/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $8.00 | |
| Primary Shares: | 2,700,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.48 | |
| Offering Amount: | $21,600,000 | Selling: | $0.26 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,520,313 |
| Manager | Tier | Phone |
| Keane Securities Co., Inc. | Lead Manager | (212) 422-7941 |
| 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: | $0.78 |
| Net Income: | -$0.21 | -$0.24 | -$0.49 | Liabilities: | $2.27 |
| EPS: | -$0.05 | -$0.05 | Equity: | -$1.49 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company, a development stage company, owns under license the exclusive rights in the United States and Canada to manufacture and market a breast thermal activity indicator (BTAI) device called the "Breast Assure Thermal Activity Sensor". The BreastAssure device is a non-invasive, easy to use, low cost, adjunctive test to be used by primary care physicians, gynecologists and other medical specialists as part of a breast disease monitoring program along with breast self-examination, palpation and mammography and other established clinical procedures including ultrasound and/or biopsy. An important feature of the BreastAssure device is that the results will be immediately available to the physician while the patient is "on-site" at the point of care in the physician's office, clinic, hospital and/or mammography center. If the BreastAssure device indicates that there is unilateral breast thermal activity, the physician is alerted to the possibility of physiological condition, including thermally active cancer. The BreastAssure device has received marketing clearance under Section 510(k) of the Food Drug and Cosmetic Act from the United States Food and Drug Administration. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for sales and marketing expenses; for clinical studies and research and development; capital equipment and facility costs; for licensing fees; for inventory; and the balance for working capital and other general corporate purposes. |
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