| American Card Technology, Inc. | |||
| Proposed Ticker: | ACRD | 1355 Terrell Mill Road, Building 1462, Suite 200 | |
| Exchange: | NASDAQ-Small Cap Market | Marietta, GA 30067 | |
| Industry: | High-Tech (SIC Code 7379) | (770) 951-2284 | |
| Type of Shares: | Common Shares | Filing Date: | 2/3/97 | |
| U.S. Shares Filed: | 1,500,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,500,000 | |
| Primary Shares: | 1,500,000 | Expenses: | $229,500 | |
| Secondary Shares: | 0 | Shares Out After: | 4,125,000 |
| Manager | Tier | Phone |
| Whale Securities Company | Lead Manager | (212) 484-2057 |
| Issuer's Law Firm: | Zimet, Haines, Friedman & Kaplan |
| 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: | $0.07 | $0.02 | $0.07 | Assets: | $0.36 |
| Net Income: | -$1.02 | -$0.93 | -$0.65 | Curr Assets: | |
| EPS: | -$0.37 | -$0.34 | -$0.24 | Liabilities: | $1.91 |
| Prior EPS: | -$0.16 | -$0.93 | -$0.65 | Curr Liabilities: | |
| Cash Flow/Oper: | -$1.02 | Equity: | -$1.56 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company, a development stage company, was organized to design, develop and market high security, flexible, multiple application smart card systems. A smart card is a credit card-sized plastic card containing a microchip that provides the card with memory storage capabilities in a secure environment and, in advanced versions such as the company's, enables the card to perform data processing functions. Smart card systems are typically used by government agencies or commercial enterprises to store, access and modify participant or customer information. The company's proprietary smart card technology and software enable system sponsors to store data on a user's smart card, and enable the systems sponsor, or a service provider authorized by the system sponsor to access user information, to access, read, input, delete, modify and process such data. The company designs its smart card systems to perform functions for various target markets, such as employee licensing, animal health and registration, frequent patron tracking and various government applications, depending on the system sponsor's needs.The company believes that its smart card systems, which offer the capability to perform multiple functions on a single card, provide enhanced security and privacy protection not offered by existing smart cards and position the company to capitalize on perceived market opportunities for information systems incorporating smart card technology. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of indebtedness; research and development; sales and marketing; repayment of certain outstanding obligations; and the balance for working capital and general corporate purposes. |