| Xetal, Inc. | |||
| Proposed Ticker: | XETX | 3590 Oceanside Road | |
| Exchange: | Boston Stock Exchange | Oceanside, NY 11572 | |
| Industry: | Natural Resources | (516) 594-0005 | |
| Type of Shares: | Common Shares | Filing Date: | 1/20/97 | |
| U.S. Shares Filed: | 450,000 | Filing Price: | $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $2,700,000 | |
| Primary Shares: | 450,000 | Expenses: | $100,000 | |
| Secondary Shares: | 0 | Shares Out After: | 1,188,263 |
| Manager | Tier | Phone |
| Not Available | Lead Manager |
| Issuer's Law Firm: | Freitag, Bruce.B |
| Bank's Law Firm: | Doros Brescia, P.C. |
| Auditor: | Linder & Linder |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 9/30/96 | ||||
| Revenue: | $14.62 | Assets: | $3.37 | ||
| Net Income: | $0.03 | Curr Assets: | |||
| EPS: | $0.09 | Liabilities: | $3.00 | ||
| Prior EPS: | -$0.92 | Curr Liabilities: | |||
| Cash Flow/Oper: | $0.16 | Equity: | $0.37 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was incorporated in May, 1969 under the laws of the State of Utah under the name "Apache Silver Oil Co., Inc." and was previously engaged in the oil and gas business. Thereafter, in February, 1985, the company changed its name to "Insurance Kingdom Agency, Inc." and engaged in the insurance business until 1992 when it ceased doing business. In September, 1994, the company entered into an acquisition agreement with the company, a New York corporation, pursuant to which the stockholders of APO Health acquired approximately 83% of the issued and outstanding capital stock of the company in exchange for all of the Capital stock of APO Health. The present operations of the company's predecessor commenced about 1987 and presently, through its subsidiaries, the company is a distributor, supplier and manufacturer of disposable medical products principally to dental, medical and veterinary professionals. These products include protective garments such as isolation gowns, face masks and gauze as well as other disposable items such as latex gloves, needles, syringes, health and beauty aids and chemicals for infection control. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay two bridge financings, to acquire key-man life insurance to protect against the loss of certain officers, to provide for the expansion of the company's business through acquisition of compatible existing business entities, to fund the company's operational and administrative costs and expenses, and for working capital and for general corporate purposes. |