| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Diversified Senior Services, Inc. |
| 915 West Fourth Street, Winston-Salem, NC 27101 * (910) 724-1000 |
| The company was founded to develop and manage assisted living residences, to provide home care services to the frail elderly and to manage low and moderate income apartment complexes. |
| Manager | Tier | Phone |
| Strasbourger Pearson Tulcin Wolff Inc. | Lead Manager | (212) 425-2320 |
| NASSCM: | DISS | Service: | SIC 8051 | |
| Type of Shares: | Common Shares | Filing Date: | 8/26/97 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 1/9/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $4.00 - $6.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $7,500,000 | Selling: | $0.00 | |
| Expenses: | $905,500 | Reallowance: | $0.00 | |
| Post-IPO Shares: | 3,000,000 | |||
| Employees: | 146 |
| Issuer's Law Firm: | House Law Firm |
| Bank's Law Firm: | Stroock & Stroock & Lavan |
| Auditor: | Daniel Professional Group, Inc. The |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/97 | |||
| Revenue: | $2.32 | $1.18 | Assets: | $1.38 | |
| Net Income: | -$0.88 | -$0.66 | Curr Assets: | $0.16 | |
| EPS: | -$0.39 | -$0.29 | Liabilities: | $2.73 | |
| Prior EPS: | $868.00 | Curr Liab: | $1.76 | ||
| Cash Flow/Oper: | -$0.24 | Equity: | -$1.36 | ||
| Cash Flow/Fin: | $0.22 | Cash: | $0.02 | ||
| Cash Flow/Inv: | $0.00 | Working Cap: | -$1.60 | ||
| Competition |
| The management of low and moderate income apartments and assisted living facilities and the provision of home care services is highly competitive and the Company expects that its businesses will become increasingly competitive in the future. The Company will continue to face competition from numerous local, regional and national providers of assisted living and long-term care whose facilities and services are on either end of the senior care continuum. The Company will compete with a range of providers based on many factors, including cost, quality of care, services provided, reputation, geographic location and family preferences. While there are currently few existing assisted living facilities in the market the Company intends to serve, and even fewer serving the low to moderate income frail elderly, the Company expects that as assisted living receives increased attention and the number of states which include assisted living in their Medicaid waiver programs increases, competition will grow from new market entrants, including companies focusing primarily on assisted living. Moreover, in implementing the Company's expansion program, the Company expects to face competition for development and acquisition of assisted living residences. Some of the Company's present and potential competitors are significantly larger and have, or may obtain, greater financial resources than those of the Company. Consequently, there can be no assurance that the Company will not encounter increased competition in the future, which could limit its ability to attract residents or expand its business and could have a material adverse effect on the Company. |
| Business Plan |
| The company expects to achieve its business objectives by implementing the following strategies: (I) Selectively Locating Assisted Living Residences, (ii) Developing Assisted Living Facilities Specifically Designed For Low and Moderate Income Residents, (iii) Accessing Favorable Financing, (iv) Transferring Experience To Assisted Living Residence and (v) Joint Ventures And Conversions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding debt, to fund the development and construction of assisted living facilities and for general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| William G. Benton | 0.66 | 0.39 |
| William L. Christiansen | 0.16 | 0.10 |
| G.L. Clark, Jr. | 0.15 | 0.09 |
| Officer Name | Title | Age |
| William G. Benton | Chairman of the Board and Chief Executive Officer | 52 |
| Susan L. Christiansen | President, Chief Operating Officer and Director | 44 |
| G.L. Clark, Jr. | Treasurer, Chief Financial Officer and Director | 52 |