| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| CropKing, Incorporated |
| 5050 Greenwich Road, Seville, OH 44273 * (330) 769-2002 |
| The company designs, develops, manufactures, markets and sells proprietary, commercial hydroponic products and systems, and related technology, equipment and supplies, to customers in the United States and abroad. |
| Manager | Tier | Phone |
| Barron Chase Securities, Inc. | Lead Manager | (800) 747-1202 |
| NASSCM: | CROP | Construction: | SIC 1711 | |
| Type of Shares: | Common Shares | Filing Date: | 3/20/98 | |
| 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: | $875,000 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 3,500,000 | |
| Employees: | 30 |
| Issuer's Law Firm: | Prousalis, Thomas T. |
| Bank's Law Firm: | Carter, David A. |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Grant Thornton |
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 | ||
| 7/31/97 | 1/31/98 | 1/31/97 | 1/31/98 | ||
| Revenue: | $5.03 | $2.97 | $2.87 | Assets: | $2.22 |
| Net Income: | $0.12 | $0.16 | $0.14 | Curr Assets: | $1.01 |
| EPS: | $0.08 | $0.08 | $0.09 | Liabilities: | $1.58 |
| Prior EPS: | $0.02 | $0.09 | $0.28 | Curr Liab: | $0.52 |
| Cash Flow/Oper: | $0.21 | -$0.02 | -$0.04 | Equity: | $0.65 |
| Cash Flow/Fin: | -$0.07 | -$0.04 | -$0.08 | Cash: | $0.14 |
| Cash Flow/Inv: | -$0.09 | Working Cap: | $0.49 | ||
| Competition |
| The Company expects competition to persist, intensify and increase in the future, from start-up companies to major agribusinesses. Many of the Company's current and potential competitors have larger operating histories, greater name recognition, larger instilled customer bases and significantly greater financial, technical and marketing resources than the Company. Competition in the hydroponics business will continue to be intense in the foreseeable future as the environment continues to deteriorate and demand for crop foods intensifies as the population expands, and there can be no assurance that the Company will be able to compete successfully against current or future competitors, or that this significant competition will not adversely affect the Company's business, operating results or financial condition. The Company's success and ability to compete is dependent in part upon its proprietary hydroponic products and systems. While the Company intends to rely on patent, trademark, copyright and proprietary rights to protect its proprietary hydroponic products and systems, the Company believes that such factors as the technological and creative experience and skills of its personnel, new product developments, frequent product enhancements, name recognition, and reliable product and system service are more essential to establishing and maintaining a position in the marketplace. Despite the Company's efforts to protect its proprietary rights and trade secrets, unauthorized parties may attempt to copy aspects of the Company's hydroponic products and systems to "reverse engineer" the Company's proprietary designs, or to obtain and use information that the Company regards as proprietary. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for operating costs and working capital, including business development, capital equipment, marketing and sales, and mergers and acquisitions. |
| Additional Underwriter Compensation |
| Warrant to purchase 150,000 shares/units at a nominal price. |
| $108,000.00 consulting agreement for 1 year(s). |