| Bioxide Corporation | |||
| Proposed Ticker: | BOXI | 380 North 200 West, Suite 101 | |
| Exchange: | NASDAQ-Small Cap Market | Bountiful, UT 84010 | |
| Industry: | Manufacturing (SIC Code 3821) | (801) 294-8306 | |
| # of Employees: | 9 | ||
| Type of Shares: | Common Shares | Filing Date: | 10/28/97 | |
| U.S. Shares Filed: | 1,533,332 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,666,660 | |
| Primary Shares: | 1,200,000 | Expenses: | - | |
| Secondary Shares: | 333,332 | Shares Out After: | 5,583,664 |
| Manager | Tier | Phone |
| A Non Underwritten Offering | Lead Manager |
| Issuer's Law Firm: | Parsons Behle & Latimer |
| Bank's Law Firm: | Parsons Behle & Latimer |
| Auditor: | Tanner & Co. |
| Registrar/Transfer Agent: | Self Administered |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/97 | |||
| Revenue: | $0.00 | $0.00 | Assets: | $0.06 | |
| Net Income: | -$1.24 | -$0.68 | Curr Assets: | $0.02 | |
| EPS: | -$0.65 | -$0.16 | Liabilities: | $0.10 | |
| Prior EPS: | -$0.50 | Curr Liabilities: | $0.10 | ||
| Cash Flow/Oper: | -$0.74 | $0.05 | Equity: | -$0.04 | |
| Cash Flow/Fin: | $1.25 | -$0.04 | Cash: | $0.02 | |
| Cash Flow/Inv: | -$0.01 | -$0.04 | Working Cap: | -$0.08 | |
| Business Description |
| The company is in the business of identifying, evaluating, developing, manufacturing and marketing devices and products utilizing a proprietary sterilization technology known as the "Deligen II" technology. The Company is evaluating a number of potential products and devices for the Deligen II technology and, in conjunction with a laboratory equipment manufacturer, has developed marketing prototypes of two products, a carbon dioxide incubator and a glassware washer for clinical laboratories. The Company has also initiated preliminary development of a portable, self-contained sterilization unit or "kit" that the Company believes may be able to be retrofitted into a number of existing devices or incorporated into products that currently do not have sterilization or disinfectant functions. The Company has also conducted early-phase studies for the development of a purification system which the Company believes may be able to be used in commercial aircraft, and has had preliminary discussions with a large commercial aircraft manufacturer regarding the incorporation of a Deligen II-based air purification system in the manufacturer's aircraft. Based on testing and clinical data, the Company also believes that the Deligen II technology may be able to be incorporated in a number of other products and devices, including heating, ventilation and air conditioning ("HVAC") systems, water treatment systems, dishwashers and laundry equipment, and that it may be used for contract sterilization of medical devices and other reusable items that require low-microbe levels. |
| Competition |
| The markets in which the Company anticipates it will operate are intensely competitive. The Company's competition includes academic institutions, agencies and other public and private research organizations, as well as large and small for-profit companies, some of which are currently in the process of developing, or have developed, sterilization technologies similar to the Company's Deligen II technology. The Company's products will also compete with sterilization methods and systems other than those based on combination sterilization methods. Many of the Company's competitors and potential competitors have sterilization systems and methods which have been approved or are in development and operate large, well funded research and development programs devoted to the investigation and development of proprietary sterilization methods. Some of these systems and technologies could be developed more quickly or ultimately prove to be more safe or effective than the Company's Deligen II technology. In addition, a number of the Company's present and potential competitors have broad product lines, established sales and distribution systems and greater experience in marketing, research and development and regulatory approval, all of which may directly affect the Company's ability to compete with those entities. The Company anticipates that it will initially compete in three general market areas - (i) the steam and ethylene oxide sterilization segments of the clinical laboratory and medical sterilization market, (ii) the air and water purification and sterilization markets, and (iii) the contract sterilization market. |
| Business Plan |
| The Company's primary business goal is to establish the Deligen II technology as a cost effective preferred means of providing purification, sterilization and disinfectant functions in a wide range of industrial, commercial and residential products. The Company's strategy for achieving this goal includes (i) pursuing development of products and systems that may be incorporated into commercial, municipal and residential products that currently incorporate some type of sterilization or disinfectant function, (ii) developing a portable, self-contained component "kit" which may allow the Deligen II technology to be used in products that either currently provide disinfectant or sterilization functions (such as retrofitting existing incubators and clean rooms) or currently do not include disinfectant or sterilization functions (such as residential dishwashers, HVAC systems and water and air treatment devices), (iii) pursuing contract sterilization projects, particularly in the medical device and reusable products markets, and (iv) pursing new sterilization and disinfectant technology through collaborative relationships, in-licensing and acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for identification and evaluation of potential products; research and development; creation and expansion of sales and marketing; equipping company facilities and working capital for general corporate purposes including the repayment of indebtedness. |
| Name of Shareholder | % Owned Before | % Owned After |
| James Dalton | 29.10% | 22.90% |
| Lynn L. Summerhays | 6.60% | 5.20% |
| David Pomerantz | 5.70% | 4.50% |
| Larry Horowitz | 5.10% | 4.00% |
| Officer Name | Title | Age |
| Frank Eldredge, Ph.D. | Director of Research and Development | 57 |
| Dale G. Karren | President, Chief Executive Officer and Director | 49 |
| E. Wayne Nelson | Secretary, Treasurer and Chief Financial Officer | 55 |