| Discas, Inc. | |||
| Ticker: | DSCS | 567-1 South Leonard Street | |
| Exchange: | NASDAQ-Small Cap Market | Waterbury, CT 06708 | |
| Industry: | Manufacturing (SIC Code 3087) | (203) 753-5147 | |
| Type of Shares: | Common Shares | Filing Date: | 5/6/97 | |
| U.S. Shares: | 800,000 | Offer Date: | 8/14/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 800,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $4,000,000 | Selling: | $0.25 | |
| Expenses: | $558,000 | Reallowance: | ||
| Shares Out After: | 3,214,500 |
| Manager | Tier | Phone |
| Merit Capital Associates | Co-manager | (203) 227-4300 |
| Roan Capital Partners, L.P. | Co-manager |
| Issuer's Law Firm: | Epstein Becker & Green |
| Bank's Law Firm: | Gusrae, Kaplan and Bruno |
| Auditor: | Jump, Green, Holman and Company |
| 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 | ||
| 4/30/96 | 1/31/97 | 1/31/96 | 1/31/97 | ||
| Revenue: | $3.86 | $3.55 | $3.28 | Assets: | $4.26 |
| Net Income: | $0.12 | $0.04 | $0.07 | Curr Assets: | |
| EPS: | $0.05 | $0.02 | $0.03 | Liabilities: | $3.74 |
| Prior EPS: | $0.05 | -$0.09 | $0.08 | Curr Liabilities: | |
| Cash Flow/Oper: | $0.13 | Equity: | $0.52 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company based in Waterbury, Connecticut, produces proprietary plastic and rubber compounds using a variety of recycled and prime, or virgin, materials. The company has extensive expertise in polymer technology, and has commercialized proprietary formulations used in the manufacturing of products in the footwear, aeronautic, military, automotive and consumer products sectors. In November 1996, the company acquired a manufacturer of plastic containers in New Jersey as part of its strategy to vertically integrate its operations from raw material supply through end product manufacturing. Historically, the company's core business focused on the development and marketing of niche synthetic rubber compounds such as thermoplastic elastomers. In addition, the company provides contract testing and research services for industrial accounts, which has resulted in the development of new materials and market applications. In recent years, the company has extended this technology to industrial-source scrap polymer feedstock to produce marketable value-added plastic compounds, and management is now focused on increasing growth in plastics through market penetration and acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for capital expenditures, working capital, repayment of Bridge Financing debt, future acquisitions and general corporate purposes including sales and marketing. |