| Medical Science Systems, Inc. | |||
| Ticker: | MSSI | 4400 Macarthur Boulevard, Suite 980 | |
| Exchange: | American Stock Exchange | Newport Beach, CA 92660 | |
| Industry: | Service (SIC Code 8099) | (714) 440-9730 | |
| # of Employees: | 27 | ||
| Type of Shares: | Common Shares | Filing Date: | 10/8/97 | |
| U.S. Shares: | 1,800,000 | Offer Date: | 11/25/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $9.00 | |
| Primary Shares: | 1,800,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.72 | |
| Offering Amount: | $15,300,000 | Selling: | $0.41 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 5,238,007 |
| Manager | Tier | Phone |
| Nutmeg Securities, Inc. | Lead Manager | (800) 288-5513 |
| Millennium Securities Corp. | Co-manager |
| Issuer's Law Firm: | Jeffers, Wilson, Shaff & Falk, LLP |
| Bank's Law Firm: | Prifti, William M. |
| Auditor: | Greenbaum & Goldstein LLP |
| Registrar/Transfer Agent: | U. S. Stock Transfer Corporation |
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 | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $1.92 | $0.10 | $1.86 | Assets: | $0.41 |
| Net Income: | -$0.79 | -$1.83 | $0.52 | Curr Assets: | $0.07 |
| EPS: | -$0.18 | -$0.43 | $0.12 | Liabilities: | $1.43 |
| Prior EPS: | $0.03 | -$1.39 | $0.54 | Curr Liabilities: | $0.86 |
| Cash Flow/Oper: | -$0.44 | $1.45 | $0.09 | Equity: | -$1.01 |
| Cash Flow/Fin: | $0.57 | -$0.09 | -$0.04 | Cash: | $0.03 |
| Cash Flow/Inv: | -$0.15 | -$0.09 | Working Cap: | -$0.79 | |
| Business Description |
| The company has developed genetically susceptibility testing services for common diseases which are treatable and preventable. The company is focused on four diseases, periodontitis, osteoporosis, coronary artery and diabetic retinopathy. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for marketing, sales, customer service and commercialization expenses, research and development activities, capital investment, repayment of bridge loans, and working capital and general corporate purposes. |
| Additional Underwriter Compensation |
| Warrant to purchase 150,000 shares/units at a nominal price. |