| Northwood Services, Inc. | |||
| Proposed Ticker: | - | 4100 Rte. 8 | |
| Exchange: | None | Allison Park, PA 15101 | |
| Industry: | Financial (SIC Code 6531) | (412) 487-3200 | |
| # of Employees: | 100 | ||
| Type of Shares: | Common Shares | Filing Date: | 12/12/97 | |
| U.S. Shares Filed: | 1,300,000 | Filing Price: | $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $7,800,000 | |
| Primary Shares: | 1,000,000 | Expenses: | $250,000 | |
| Secondary Shares: | 300,000 | Shares Out After: | 4,000,000 |
| Manager | Tier | Phone |
| A Non Underwritten Offering | Lead Manager |
| Issuer's Law Firm: | Littman, Michael, A. |
| Auditor: | Hinds, Lind, Miller & Co. |
| Registrar/Transfer Agent: | United Stock Transfer |
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 | 9/30/96 | 9/30/97 | ||
| Revenue: | $15.74 | $6.59 | $6.16 | Assets: | $4.93 |
| Net Income: | $0.29 | $0.52 | $0.57 | Curr Assets: | $3.33 |
| EPS: | $0.02 | $0.17 | $0.16 | Liabilities: | $4.94 |
| Prior EPS: | $0.05 | $0.41 | Curr Liabilities: | $3.63 | |
| Cash Flow/Oper: | -$0.15 | -$0.43 | Equity: | -$0.01 | |
| Cash Flow/Fin: | -$0.03 | -$0.04 | Cash: | ||
| Cash Flow/Inv: | -$0.03 | Working Cap: | -$0.30 | ||
| Business Description |
| The company operates as a large real estate brokerage in Southwestern Pennsylvania, primarily around the city of Pittsburgh. The company has thirty-five offices and 700 sales associates. It serves Allegheny County and seven surrounding counties. Northwood Realty Co. is a registered fictitious name of Northwood Services, Inc., a corporation founded in 1982 under the laws of Pennsylvania. |
| Competition |
| Registrant is a significant participant among the firms which engage in the same line of business (real estate) which Registrant has chosen as its principal area of business concentration. Some of Registrants competitors are companies with possibly greater financial and personnel resources than the Registrant. The combined financial resources and management experience of Registrant's officers and directors are extensive in real estate industry and Registrant has encountered, and will continue to encounter, substantial competition in the real estate industry. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for working capital and general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| J. Harold Autenreith, Jr. | 15.70% | 11.80% |
| Tex Weston | 5.60% | 4.20% |
| Buck Weston | 5.60% | 4.20% |
| Officer Name | Title | Age |
| Tex Weston | Co-president, Director | 53 |
| Hal Autenreith | Co-president, Director | 70 |
| Ed Schmidt | Director of Career Development | 48 |
| Wendy West | Secretary and V.P. Marketing | 39 |
| Buck Weston | Treasurer, Broker of Record, Director | 76 |
| Carol Palomera | V.P. East Regional Manager | 54 |
| Ron Maszak | V.P. North and West Regional Manager | 53 |
| Gloria Schucolsky | V.P. Northwest Regional Manager | 55 |
| Jack Benson | V.P. South Regional Manager | 60 |
| Additional Underwriter Compensation |
| Warrant to purchase 100,000 shares/units at $100.00 per share/unit. |