| Connecticut Valley Sports, Inc. | |||
| Proposed Ticker: | CVSP | 4004 Highway 93 North | |
| Exchange: | NASDAQ-National Market | Stevensville, MT 59870 | |
| Industry: | Manufacturing (SIC Code 3484) | (406) 777-5534 | |
| Type of Shares: | Common Shares | Filing Date: | 10/9/97 | |
| U.S. Shares Filed: | 1,500,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,500,000 | |
| Primary Shares: | 1,500,000 | Expenses: | $765,000 | |
| Secondary Shares: | 0 | Shares Out After: | 4,247,476 |
| Manager | Tier | Phone |
| Briarwood Investment Counsel, Inc. | Lead Manager |
| Issuer's Law Firm: | Gersten, Savage, Kaplowitz & Curtin |
| Bank's Law Firm: | Zimet, Haines, Friedman & Kaplan |
| Auditor: | BDO Seidman |
| Registrar/Transfer Agent: | Continental 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 | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $0.24 | $0.24 | $0.07 | Assets: | $1.08 |
| Net Income: | -$1.10 | -$0.67 | -$0.49 | Curr Assets: | $0.57 |
| EPS: | -$0.44 | -$0.24 | -$0.22 | Liabilities: | $1.03 |
| Prior EPS: | -$0.75 | -$0.67 | -$0.60 | Curr Liabilities: | $0.51 |
| Cash Flow/Oper: | -$1.12 | $0.68 | $0.53 | Equity: | $0.05 |
| Cash Flow/Fin: | $1.40 | $0.01 | -$0.11 | Cash: | $0.02 |
| Cash Flow/Inv: | -$0.19 | $0.01 | Working Cap: | $0.06 | |
| Business Description |
| The company was formed for the purpose of acquiring the outstanding securities of Connecticut Valley Classics. The company designs, engineers, manufactures, markets and sells a line of high grade hunting and shooting sports equipment. This includes Cooper Arms rifles, CVC shotguns and Anshutz USA Sporting Rifles. In the fourth quarter of 1997, the Company intends to commence selling Special Ops Ammunition and Connecticut Valley Sports apparel and accessories. Cooper Arms produces a line of high grade American made bolt action and falling block rifles for competition and hunting. CVC produces a line of high grade American made over and under shotguns for competition and hunting. Anshutz USA Sporting Rifles is a product line of the Stock Shop, which is marketed by Cooper Arms. Special Ops Ammunition is a line of ultra accurate high performance ammunition to be sold primarily to military and law enforcement units throughout the world and will be marketed and sold by Cooper Arms. The Company's shooting sports apparel and accessories line will consist of high end shooting and hunting jackets, vests, shirts, caps, shotgun and rifle cases, and other accessories marketed and sold under the Connecticut Valley name. Currently the Company's operations are conducted in two facilities in Montana. |
| Competition |
| The Company competes in a highly specialized competitive environment directly with many other national and international sporting firearms manufacturers. Many of these companies are larger, better known and have significantly greater financial, manufacturing and marketing resources than the Company. In addition, unlike the Company, many firearms manufacturers are subsidiaries of larger, more diverse companies on whom they can rely for capital. No assurance can be given that the Company will be capable of competing successfully in the future, or that the Company will be successful in maintaining or expanding its share of the market for its products. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for acquisitions, to purchase manufacturing equipment, for sales and marketing, for working capital and general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| Victor Wang | 55.90% | 37.60% |
| Daniel Cooper | 13.50% | 8.70% |
| O. Milton Gossett | 6.30% | 4.10% |
| Officer Name | Title | Age |
| Victor Wang | Chairman of the Board, Director of Marketing | 32 |
| John Tilleli | Chief Executive Officer and Director | 26 |
| Daniel Cooper | President and Director | 43 |
| Edward McCabe | Treasurer (Chief Financial Officer) and Director | 40 |
| Gary D. Landis | Vice President-Marketing, Secretary and Director | 55 |
| Additional Underwriter Compensation |
| Warrant to purchase 150,000 shares/units at $10.00 per share/unit. |
| $100,000.00 consulting agreement for 2 year(s). |
| # of Units: | 1,500,000 | |||
| Unit Ticker: | CVSPU | Unit Price: | $5.10 | |
| Warrant Ticker: | CVSPW | Warrant Price: | $0.10 | |
| Warrant Exercise Date: | Warrant Exercise Price: | $6.00 | ||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | Yes | Warrant Call Date: |
| Unit Composition: 1 Common Share + 1 Warrant |
| Warrant Entitlement: 1 Common Share |
| Warrants are callable at $0.10 if the common stock trades at $0.00 for 0 of 0 consecutive trading days. |