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| AquaCell Technologies, Inc. |
| 10410 Trademark Street, Rancho Cucamonga, CA 91730 * (909) 987-0456 |
| Business Description | The Company provides point of use drinking water, filtration and purification products to a variety of customers. |
| Offering Information Company has | |||
| Trading As | AQA (AMEX) | Industry | Manufacturing (SIC 3599) |
| Type of Stock Offered | Common Shares | Filing Date | 7/20/2000 |
| Domestic Shares Offered | 1,200,000 | Offer Date | 2/9/2001 |
| Foreign Shares Offered | 0 | Filing Price | $5.00 |
| Company Shares | 1,200,000 | Offer Price | $5.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.500 |
| Gross Proceeds | $6,000,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 6,888,250 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Somerset Financial Group, Inc. | Lead Manager | (888) 766-9856 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 6/30/1998 | 6/30/1999 | 3/31/1999 | 3/31/2000 | |||
| Revenues | - | - | - | 0.000 | 0.029 | 0.010 | 0.201 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | -0.573 | -1.618 | -1.164 | -0.982 |
| E.P.S | - | - | - | -0.140 | -0.340 | -0.250 | -0.200 |
| Revenue Growth (%) | - | - | - | - | 1,910.00 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -1.08 | - | - | ||||
| Cash Flow - Inv. | -0.10 | - | - | ||||
| Cash Flow - Fin. | 1.20 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/2000 | Financial Ratios | ||||
| Total Assets | 0.54 | Current Assets | 0.07 | Current Ratio | 0.04 |
| Total Liab. | 1.84 | Current Liab. | 1.70 | Debt Ratio | 339.11% |
| Total Equity | -1.30 | Working Cap. | -1.62 | Debt to Equity Ratio | - |
| Cash | 0.02 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of promissory notes, including accrued interest; marketing, advertising and promotions; expansion of manufacturing facilities, research and new product development; accrued expenses and other payments; and working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Allen, Matkins, Leck, Gamble & Mallory |
| Bank's Law Firm | Lester Morse, P.C. |
| Registrar/Transfer Agent | U. S. Stock Transfer Corporation |
| Auditor | Eisner, Richard A. |
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| Industry Competition |
The drinking water purification industry is fragmented and highly competitive due to the large number of businesses within certain product areas. The Company competes with many companies which have greater market penetration, depth of product line, resources and access to capital, all of which could be competitive advantages. Competitors include: bottled water companies such as Arrowhead, Deer Park, Poland Spring, and Sparkletts; water filtration system manufacturers such as Culligan (owned by US Filter Corporation), Brita (owned by Clorox) and Pur (owned by Proctor and Gamble); and flat-top point-of-use water cooler manufacturers such as Oasis, Cordley-Temprite, and Mutual of Omaha's Innowave product. |
| Business Plan |
The Company's strategic objective is to achieve rapid growth through the expansion of the product lines utilizing a business to business marketing strategy primarily targeted at Fortune 500 and other large companies, as well as through strategic alliances with marketing partners. |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Union Labor Life Insurance Co. | 9.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||