| Ticker: OSFT | Continental Plaza III, 433 Hackensack Avenue | |
| Exchange: NASDAQ-Small Cap Market | Hackensack, New Jersey 07601 | |
| Industry: High-Tech | (201) 343-9100 |
| Type of Shares: | Common Shares | Filing Date: | 8/20/96 | |
| U.S. Shares: | 1,250,000 | Offer Date: | 11/12/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $7.00 | |
| Primary Shares: | 1,250,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.44 | |
| Offering Amount: | $7,500,000 | Selling: | $0.18 | |
| Expenses: | - | Reallowance: | ||
| Shares Out After: | 3,816,001 |
| Manager | Tier | Phone |
| Renaissance Financial Securities Corporation | 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: | $0.57 | $0.30 | $0.38 | Assets: | $1.11 |
| Net Income: | -$0.14 | -$0.32 | -$0.02 | Liabilities: | $1.90 |
| EPS: | -$0.05 | -$0.11 | -$0.01 | Equity: | -$0.79 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is in the business of providing information and transaction-based services using proprietary software and off-the-shelf, reusable software components based on Microsoft's ActiveX component technology. The company's strategy is initially to provide information and services through public access kiosks, known as SmartStreet, over private networks known as Intranets. The kiosks will be location in high density pedestrian traffic areas. The first five kiosks were deployed in New York City in July 1996 under an agreement with the City of New York. Kiosk user are able to obtain information and documents and transact certain business without the necessity of interacting directly with City employees or appearing personally at certain City offices. In early 1996, the City of New York entered into an agreement with the company to develop public kiosks to be located in City offices and other public locations in an effort to expedite transactions with the City. Using the first five kiosks currently operating and additional kiosks that the company anticipates locating throughout the New York City area, members of the public can obtain certain information and documents from the Buildings Department and Department of Health, as well as information about City government and elected officials and general information about transportation and attractions in New York. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of the bridge loans, mandatory redemption of Series A Preferred Stock, working capital and general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.