| Marine Management Systems, Inc. | |||
| (www.mmsintl.com) | |||
| Ticker: | MMSI | 470 West Avenue | |
| Exchange: | NASDAQ-Small Cap Market | Stamford, CT 06902 | |
| Industry: | High-Tech (SIC Code 7373) | (203) 327-6404 | |
| Type of Shares: | Common Shares | Filing Date: | 2/4/97 | |
| U.S. Shares: | 1,400,000 | Offer Date: | 5/2/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $7,000,000 | Selling: | $0.20 | |
| Expenses: | $183,600 | Reallowance: | $0.10 | |
| Shares Out After: | 4,201,120 |
| Manager | Tier | Phone |
| Whale Securities Company | Lead Manager | (212) 484-2057 |
| Issuer's Law Firm: | Shipman Goodwin LLP |
| Bank's Law Firm: | Tenzer, Greenblatt, Fallon & Kaplan |
| Auditor: | BDO Seidman |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $4.33 | $3.50 | $3.00 | Assets: | $3.13 |
| Net Income: | -$0.33 | -$0.79 | -$0.38 | Curr Assets: | |
| EPS: | -$0.14 | -$0.32 | -$0.17 | Liabilities: | $3.65 |
| Prior EPS: | -$0.03 | -$0.39 | -$0.19 | Curr Liabilities: | |
| Cash Flow/Oper: | -$0.25 | Equity: | -$0.52 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company develops, markets, sells and supports software systems, and sells and supports associated hardware and communications systems, for the management of commercial ships in the international maritime industry. The company's products are designed to enable its customers to operate their ocean-going ships in a safer and more efficient manner through the use of shipboard and shore-based computer applications and networks connected by wireless communications. The company sells its products in the international shipping market to operators of all types of ships, including crude oil and product tankers, gas carriers, container ships, cruise liners, bulk carriers and other specialty ships. The company has 27 years of experience in the maritime industry and has an established international market presence and a significant installed customer base of over 1,500 installations at over 500 shipboard and shore-based sites worldwide. The company's core business currently centers around its existing Fleet Manager Series products, a multifaced line of software applications for the management of ship operations. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of debt and retirement of warrants, software development, sales and marketing entrance into the communications business, capital equipment and working capital and general corporate purposes. |