| Ticker: | PLUS | 91 Michigan Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Paterson, New Jersey 07503 | |
| Industry: | Manufacturing | (201) 523-4600 |
| Type of Shares: | Common Shares | Filing Date: | 8/20/96 | |
| U.S. Shares: | 1,100,000 | Offer Date: | 11/1/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,100,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $5,500,000 | Selling: | ||
| Expenses: | $671,600 | Reallowance: | ||
| Shares Out After: | 4,220,000 |
| Manager | Tier | Phone |
| Thornwater Company, L.P., The | Lead Manager |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $13.15 | $6.67 | $6.33 | Assets: | $2.89 |
| Net Income: | -$1.24 | $0.00 | -$1.13 | Liabilities: | $2.35 |
| EPS: | -$0.37 | $0.00 | -$0.35 | Equity: | $0.54 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a fully-integrated manufacturer and retailer of high-pressure, mica-laminated furniture for residential uses, primarily bedroom furniture for children ages three to 16 years old. The company's products are of a modular design and are intended to be multi-functional, interchangeable and space-saving. The company distributes its product through its own distribution network of 11 retail showrooms located in the greater New York City metropolitan area. The company uses standard component pieces to manufacture furniture for children's and adult's bedrooms and home offices. The approximately 300 standard components can be finished in various colors and textures and combined in various configurations to produce a finished product which is personalized to the customer's taste, space and budget. The use of standard components also permits the company's furniture to be reconfigured as the customer's needs or tastes change. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the costs of opening new retail showrooms, renovation of existing retail showrooms, repayment of bank borrowings, purchase and/or lease of machinery and equipment, marketing and advertising and general corporate purposes and working capital. |
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