| Patcomm Corporation | |||
| Proposed Ticker: | PCOM | 7 Flower Field, M100 | |
| Exchange: | NASDAQ-Small Cap Market | St. James, NY 11780 | |
| Industry: | Manufacturing (SIC Code 3663) | (516) 862-6511 | |
| Type of Shares: | Common Shares | Filing Date: | 2/14/97 | |
| U.S. Shares Filed: | 1,265,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $6,325,000 | |
| Primary Shares: | 1,265,000 | Expenses: | $439,413 | |
| Secondary Shares: | 0 | Shares Out After: | 2,261,498 |
| Manager | Tier | Phone |
| Andrew Garrett Securities | Lead Manager |
| Issuer's Law Firm: | Schlueter & Associates |
| Bank's Law Firm: | Lawlor, John E. |
| Auditor: | Winter, Scheifley & Associates |
| Registrar/Transfer Agent: | Corporate Stock Transfer, Inc. 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: | $0.00 | $0.02 | $0.01 | Assets: | $0.25 |
| Net Income: | -$0.22 | -$0.30 | -$0.11 | Curr Assets: | |
| EPS: | -$0.34 | -$0.35 | -$0.17 | Liabilities: | $0.06 |
| Prior EPS: | -$0.36 | Curr Liabilities: | |||
| Cash Flow/Oper: | -$0.19 | Equity: | $0.19 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is engaged in the development and marketing of a new line of products for the amateur radio communications market, incorporating a new architecture by which many traditional hardware functions are replaced by software. The company has sold 21 units of its first product, the PC1610 (TM) HF transceiver, placed one at no cost, and has circulated three units for experimentation with both operators and distributors. The company recently completed the design and testing of its newer model transceiver, the model PC16000(TM), which is intended to replace the model PC1610(TM), and has begun to ship the PC16000(TM) in small quantities. Development of the company's Products and Business. In the early stages of amateur radio development, almost every station was made up of a separate receiver and transmitter. As technology evolved, the "transmitter" and "receiver" were integrated into a single unit called the "transceiver." |
| Use of Proceeds |
| The proceeds from the proposed offering will be used i) to hire a chief financial officer, a controller, and five additional accounting and administrative staff persons; ii) hire a director of marketing and seven additional sales and marketing staff persons, and a purchasing manager iii) hire 24 additional technical persons for quality control and research and development iv) acquire the necessary components and other raw materials to support the company's anticipated sales v) conduct marketing and promotional activities vi) purchase or lease equipment and machinery; and vii) for general corporate purposes including working capital and the hiring of additional personnel, and the possible investment in, strategic acquisition of, or joint ventures with, complementary businesses, technologies, or product lines. |