| Proposed Ticker: - | 810 Chicago Street | |
| Exchange: NASDAQ-Small Cap Market | Toledo, Ohio 43611 | |
| Industry: Service | (419) 729-0495 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 7/8/96 | |
| U.S. Shares Filed: | 1,200,000 | Filing Price: | $5.50 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $6,600,000 | |
| Primary Shares: | 1,200,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | 2,400,000 | |
| Manager | Tier | Phone |
| Rickel & Associates, Inc. | Lead Manager | (800) 678-2664 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 2/29/96 | 2/29/96 | ||||
| Revenue: | $3.53 | Assets: | $2.97 | ||
| Net Income: | -$0.14 | Liabilities: | $5.51 | ||
| EPS: | Equity: | -$2.54 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Company is one of the first commercial paint waste recyclers in the United States. Since 1991, the Company has processed over 62,000,000 pounds of paint waste through its recycling facility. The Company processes hazardous and non-hazardous industrial paint waste for its customers and creates a raw material that can be used in commercial industrial products. In addition to offering its customers an alternative that the Company believes provides the best commercially available technology to eliminate the "cradle to grave" disposal liability otherwise associated with the generation of hazardous paint waste, the Company's recycling technologies protect the environment, conserve waste, the Company's recycling technologies protect the environment, conserve vital resources and offer a responsible solution to many of today's paint waste disposal problems. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay advances from Meridian; installation of five customer on-site recycling systems; construction of a new facility in the southeast region of the United States; installation of the Polymeric Recovery System at the company's Toledo, OH facility; for the repayment of a short-term bank note; and for working capital and general corporate purposes. |
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