| Asha Corporation | |||
| Ticker: | ASHA | 600 C Ward Drive | |
| Exchange: | NASDAQ-Small Cap Market | Santa Barbara, CA 93111 | |
| Industry: | Manufacturing (SIC Code 3714) | (805) 683-2331 | |
| Type of Shares: | Common Shares | Filing Date: | 3/25/97 | |
| U.S. Shares: | 1,250,000 | Offer Date: | 6/30/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $4.88 | |
| Primary Shares: | 1,250,000 | Offer Price: | $4.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.40 | |
| Offering Amount: | $6,093,750 | Selling: | $0.20 | |
| Expenses: | $400,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,144,877 |
| Manager | Tier | Phone |
| H.J. Meyers & Company, Incorporated | Lead Manager | (212) 298-8942 |
| Issuer's Law Firm: | Krys Boyle Golz Reich Freedman Bean & Scott |
| Bank's Law Firm: | Morse, Zelnick, Rose & Lander, LLP |
| Auditor: | Arthur Andersen |
| Registrar/Transfer Agent: | Transecurities International, Inc. |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 12/31/96 | 12/31/95 | 12/31/96 | ||
| Revenue: | $1.71 | $0.05 | $1.33 | Assets: | $2.26 |
| Net Income: | -$1.81 | -$0.69 | $0.44 | Curr Assets: | |
| EPS: | -$0.26 | -$0.10 | $0.06 | Liabilities: | $1.22 |
| Prior EPS: | $0.22 | -$0.24 | $0.65 | Curr Liabilities: | |
| Cash Flow/Oper: | $0.55 | Equity: | $1.04 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is an innovative engineering research and development company serving the global automotive and vehicular industries. The company is currently exploiting two proprietary technologies which it has developed and patented, its GERODISC traction control device which limits a vehicle's wheel spin and improves its traction and handling. GERODISC is the only technology known to the company that is compatible with all cars, vans, sports utility vehicles and trucks and can be used on all four types of platforms: front-wheel drive, rear-wheel drive, four-wheel drive and all-wheel drive. Management believes that, based on the testing it has conducted, GERODISC is superior to any other competing technology currently marketed, including electronic traction control. GERODISC has been and is being tested by the three major U.S. automobile manufacturers and most major European automobile manufacturers for use in future model designs. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay bridge financing notes, marketing of GERODISC, additional investments in the ASHA-TAISUN Joint Venture, and working capital. |