| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Ripe Touch Greenhouses, Inc. |
| 4871 N. Mesa Drive, Castle Rock, CO 80104 * (303) 688-9805 |
| The company has been formed to construct and operate greenhouses in the U.S. for the production and sale of hydroponic, naturally vine ripened tomatoes. The first proposed greenhouse will be located on 200 acres of land in Colorado. |
| Manager | Tier | Phone |
| Millennium Securities Corp. | Lead Manager |
| NASSCM: | RTGI | Agricultural: | SIC 0161 | |
| Type of Shares: | Common Shares | Filing Date: | 1/21/98 | |
| U.S. Shares Filed: | 825,000 | Filing Price: | $6.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $4,950,000 | |
| Primary Shares: | 825,000 | Expenses: | $500,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 4,663,750 | |
| Employees: | 2 |
| Issuer's Law Firm: | Blau, Kramer, Wactlar & Lieberman |
| Bank's Law Firm: | Beckman & Millman, P.C. |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Bailey, Saetweit & Co., P.C. |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $0.00 | $0.13 | $0.00 | Assets: | $1.55 |
| Net Income: | -$0.71 | -$0.72 | -$0.32 | Curr Assets: | $0.29 |
| EPS: | -$0.20 | -$0.19 | -$0.09 | Liabilities: | $2.32 |
| Prior EPS: | -$0.05 | Curr Liab: | $2.09 | ||
| Cash Flow/Oper: | -$0.34 | -$0.06 | $0.03 | Equity: | -$0.77 |
| Cash Flow/Fin: | $0.80 | $0.53 | $0.58 | Cash: | $0.21 |
| Cash Flow/Inv: | -$0.39 | -$0.32 | -$0.23 | Working Cap: | -$1.80 |
| Competition |
| In terms of pounds produced, field-grown tomatoes represent over 95% of all tomatoes consumed in the United States. For most of the year, the field-grown tomato is the green variety sprayed with gases, shipped from Florida, California, or Mexico. Gassing the tomatoes causes them to ripen; however, the Company believes that the flavor of a gassed tomato does not compare favorably with that of a vine ripened tomato. During all but six to eight weeks of the year, most regions of the United States do not have vine-ripened tomatoes available on the shelf unless it is a greenhouse grown product.Of the four billion pounds of tomatoes consumed in the United States each year, one billion pounds is imported from Mexico. However, the Mexican tomatoes are all picked "dead-green" and gas-ripened once they reach their U.S. destination. Additionally, Mexican tomatoes may have pesticides and chemicals that are no longer allowed in the U.S. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of notes issued in private placements, for construction of a greenhouse, purchase of machinery, and for working capital and general corporate purposes. |
| Additional Underwriter Compensation |
| Additional compensation of $153,450. |
| Warrant to purchase 125,000 shares/units at $250.00 per share/unit. |
| Exercise price of $7.80 for 4 year(s), 1 year(s) from . |
| $50,000.00 consulting agreement for 2 year(s). |
| # of Units: | 825,000 | |||
| Unit Ticker: | - | Unit Price: | $6.20 | |
| Warrant Ticker: | RTGIW | Warrant Price: | $0.20 | |
| Warrant Exercise Date: | Warrant Exercise Price: | $10.00 | ||
| Warrant Expiration Date: | ||||
| Warrant Detachable: | Yes | Warrant Detach Date: | ||
| Warrant Callable: | No |
| Unit Composition: 1 Common Share + 1 Class A Warrant |
| Warrant Entitlement: 1 Common Share |