| Proposed Ticker: CLAW | 3209 Gresham Lake Road, Suite 147 | |
| Exchange: NASDAQ-Small Cap Market | Raleigh, North Carolina 27615 | |
| Industry: Manufacturing | (919) 954-1919 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 8/9/96 | |
| U.S. Shares Filed: | 1,200,000 | Filing Range: | $5.00 - $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $6,600,000 | |
| Primary Shares: | 1,200,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shs Out After: | 2,782,233 | |
| Manager | Tier | Phone |
| First Allied Securities, Inc. | Lead Manager | (619) 702-9600 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $3.32 | Assets: | $2.34 | ||
| Net Income: | -$1.46 | Liabilities: | $0.43 | ||
| EPS: | -$0.68 | Equity: | $1.91 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a processor and distributor of North American lobsters and lobster products. The company uses its proprietary "Sealock", cooking and fast-freezing process to preserve lobster freshness and quality without compromising taste or texture. Historically, Maine lobster sales and distribution have been limited by the fact that lobster taste, texture and appearance suffer considerably if the lobster is not kept alive until preparation. The company believes the taste, texture and appearance of its frozen Maine lobsters and lobster products are comparable to those of live lobsters cooking and far superior to those of lobsters processed with conventional freezing methods. An independent taste test conducted for the company prior to commercial production in 1991 showed the company's "Sealock" Maine lobsters to be comparable to live Maine lobsters in taste and texture and superior in appearance. The Sealock process enables the company to distribute high quality whole Maine lobsters and Maine lobster products worldwide without the price and supply fluctuations, expense, administrative burden and disease and mortality risks inherit in traditional live delivery. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for lobster inventory, sales and marketing, new product development, and working capital. |
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