| Azurel Ltd. | |||
| Ticker: | AZUR | 509 Madison Avenue | |
| Exchange: | NASDAQ-Small Cap Market | New York, NY 10022 | |
| Industry: | Manufacturing (SIC Code 2844) | (212) 317-0712 | |
| Type of Shares: | Common Shares | Filing Date: | 10/30/96 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 7/30/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $4.00 - $5.00 | |
| Primary Shares: | 1,200,000 | Offer Price: | $4.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.45 | |
| Offering Amount: | $5,400,000 | Selling: | $0.27 | |
| Expenses: | - | Reallowance: | $0.14 | |
| Shares Out After: | 5,258,747 |
| Manager | Tier | Phone |
| Network One Financial Securities, Inc. | Lead Manager | (908) 758-9001 |
| Issuer's Law Firm: | Gersten, Savage, Kaplowitz & Curtin |
| Bank's Law Firm: | Snow Becker Krauss |
| Auditor: | Feldman Radin & Co. |
| Registrar/Transfer Agent: | North American Stock Transfer Co., New York |
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 | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $3.75 | $2.73 | $0.00 | Assets: | $7.81 |
| Net Income: | -$1.37 | -$0.47 | -$0.53 | Curr Assets: | |
| EPS: | -$0.42 | -$0.12 | -$0.21 | Liabilities: | $7.54 |
| Prior EPS: | -$0.20 | -$0.26 | -$0.23 | Curr Liabilities: | |
| Cash Flow/Oper: | $0.11 | Equity: | $0.27 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company, directly and through wholly-owned subisidiaries, manufactures, markets and sells cosmetics, fragrances and skin care products. Through four wholly-owned subsidiaries comprising its Private Label Group, acquired by the company in August 1996, the company operates a manufacturing and filling facility which sells cosmetics principally to major cosmetic companies for sale by each customer under the customer's own brand name. In addition, in order to take advantage of the company's manufacturing capabilities and product development expertise, the company currently is developing cosmetic, skin care and fragrance lines which it intends to market under brand names created internally or owned by others and licensed to the company. These products are sometimes referred to as "branded Products." To date the company has developed only one line of Branded Products internally and has obtained only one license to sell a product line using a brand name owned by a third party. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of indebtedness incurred in connection with acquisitions and bridge financings, to expand the company's marketing efforts, to purchase inventory and equipment, to pay accrued expenses and for working capital. |