| Professional Transportation Group, Ltd. | |||
| Ticker: | TRUC | 5025 Serrick Jones Road, Suite 120 | |
| Exchange: | NASDAQ-Small Cap Market | Atlanta, GA 30349 | |
| Industry: | Transportation (SIC Code 4731) | (770) 907-3360 | |
| Type of Shares: | Common Shares | Filing Date: | 4/4/97 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 6/20/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $7.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $9,000,000 | Selling: | ||
| Expenses: | $670,625 | Reallowance: | ||
| Shares Out After: | 2,600,000 |
| Manager | Tier | Phone |
| Argent Securities, Inc. | Lead Manager | (888) 237-1100 |
| Issuer's Law Firm: | Nelson Mullins Riley & Scarbourough |
| Bank's Law Firm: | Johnson & Montgomery |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $21.17 | Assets: | $5.34 | ||
| Net Income: | $0.30 | Curr Assets: | |||
| EPS: | $0.09 | Liabilities: | $6.29 | ||
| Prior EPS: | -$0.06 | Curr Liabilities: | |||
| Cash Flow/Oper: | $0.22 | Equity: | -$0.95 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a transportation services company that provides ground transportation and logistics services for the air freight industry throughout the continental United States. The company was founded by Dennais A. Bakal in October 1990, and he is the company's majority shareholder and sole director. The company serves as a holding company for its three operating subsidiaries: Timely Transportation, Inc., Truck-Net, Inc. and PTG, Inc. The company's consolidated revenues increased by 37% from 1994 to 1995 and by 21% from 1995 to 1996. The company attributes its growth to management's knowledge and experience in the air freight industry, consistent on-time deliveries, and superior customer service. Through its Timely subsidiary, which was formed in 1991, the company provides time-definite truckload transportation services for companies in the air freight and expedited delivery markets. Through its Truck-Net subsidiary, which was acquired by Mr. Bakal in July 1991, the company operates as a broker of truckload services to the air freight industry. Through its PTG subsidiary, which was formed in 1990, the company operates a courier delivery service known as "Rapid Transit" in the metropolitan Atlanta, Georgia area. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the purchase of operating and computer equipment and working capital and for general corporate purposes. |