| SysComm International Corporation | |||
| Ticker: | SYCM | 275 Marcus Boulevard | |
| Exchange: | NASDAQ-National Market | Hauppauge, NY 11788 | |
| Industry: | High-Tech (SIC Code 7378) | (516) 273-3200 | |
| Type of Shares: | Common Shares | Filing Date: | 4/22/97 | |
| U.S. Shares: | 1,250,000 | Offer Date: | 6/17/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.00 - $5.50 | |
| Primary Shares: | 1,250,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.35 | |
| Offering Amount: | $6,562,500 | Selling: | $0.20 | |
| Expenses: | - | Reallowance: | $0.07 | |
| Shares Out After: | 4,770,540 |
| Manager | Tier | Phone |
| Commonwealth Associates | Lead Manager | (212) 297-5608 |
| Issuer's Law Firm: | Ruskin, Moscov, Evans & Faltischek |
| Bank's Law Firm: | Todtman, Young, Nachamie, Hendler & Spizz, P.C. |
| Auditor: | Albrecht Viggiano Zureck & Co. |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $98.45 | $39.16 | $38.04 | Assets: | $24.54 |
| Net Income: | $1.77 | $1.05 | $0.50 | Curr Assets: | |
| EPS: | $0.48 | $0.29 | $0.14 | Liabilities: | $19.50 |
| Prior EPS: | $0.08 | $5.34 | -$7.97 | Curr Liabilities: | |
| Cash Flow/Oper: | -$1.38 | Equity: | $5.05 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company, through its wholly owned subsidiary, Information Technology Services, Inc., is a leading systems integrator and reseller of computer hardware, operating software and networking applications to Fortune 1000 companies. The company provides its customers with cost efficient, comprehensive solutions that satisfy their information technology requirements. Since 1985, the company's primary focus has been on the sale, integration and servicing of International Business Machine Corporation products including personal computers, mid-range systems based on the IBM RS/6000, servers, and the IBM AS/400. In addition, the company integrates, resells and services products from manufacturers such as Hewlett Packard, Compaq, Apple, Microsoft, 3Com, Bay Networks and Novell. A significant percentage of the company's revenues are derived from sales to customers in the financial and investment communities. However, the company's customer base also includes mid-size retailers, manufacturers, distributors, colleges, universities and state and local government agencies in the Northeastern United States. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to establish and operate an IBM PC assembly facility under IBM's Authorized Assembler Program, including the lease or purchase of a building, to reduce the company's interest bearing obligations to IBM Credit Corporation, for general corporate purposes including working capital and for acquisitions. |