| Healthcore Medical Solutions, Inc. | |||
| Ticker: | HMSI | 11904 Blue Ridge Boulevard | |
| Exchange: | NASDAQ-Small Cap Market | Grandview, MO 64030 | |
| Industry: | Service (SIC Code 7299) | (816) 763-4900 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 6/2/97 | |
| U.S. Shares: | 1,760,000 | Offer Date: | 10/13/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,760,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.48 | |
| Offering Amount: | $8,800,000 | Selling: | $0.27 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 2,960,000 |
| Manager | Tier | Phone |
| D.H. Blair & Co Inc. | Lead Manager | (212) 495-4306 |
| Issuer's Law Firm: | Bachner, Tally, Polevoy & Misher |
| Bank's Law Firm: | Paul, Hastings, Janofsky & Walker |
| Auditor: | Eisner, Richard A. |
| 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: | $0.00 | $0.00 | $0.00 | Assets: | $1.53 |
| Net Income: | -$1.21 | -$1.02 | -$0.58 | Curr Assets: | |
| EPS: | -$4.83 | -$3.47 | -$2.39 | Liabilities: | $2.16 |
| Prior EPS: | -$0.53 | -$0.66 | -$0.48 | Curr Liabilities: | |
| Cash Flow/Oper: | -$0.93 | Equity: | -$0.63 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a development stage enterprise organized to develop, market and administer a health care benefit services program which is designed to enable participants to obtain discounts on purchases of ancillary health care products and services. The Networks with which the company currently maintains contracts comprise an aggregate of approximately 57,000 participating Providers of eye care, dental, hearing, pharmacy and chiropractic benefits throughout the United States, and Members will be able to access the Networks through the use of a discount membership card. The Healthcare Solutions Card is expected to be marketed, directly and through independent brokers, agents and consumer marketing organizations, to individuals and to employers and business and other associations who may either purchase the Healthcare Solutions Card for, or offer it to, their employees or members. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay the principal amount of 10% subordinated notes issued in the Bridge Financing; for marketing and sales, acquisition of computer equipment and for working capital. |
| # of Units: | 1,700,000 | |||
| Unit Ticker: | HMSIU | Unit Price: | $5.00 | |
| Warrant Ticker: | HMSIW | Warrant Price: | ||
| Warrant Exercise Date: | Warrant Exercise Price: | $6.50 | ||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | Yes | Warrant Call Date: |
| Unit Composition: 1 Class A Common Share + 1 Class A Warrant |
| Warrant Entitlement: 1 Common Share |
| Warrants are callable at $0.05 if the common stock trades at $9.10 for 30 of 30 consecutive trading days. |