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Hydogen Burner Technology, Inc.
19300 Susana Road, Rancho Dominquez, CA 90221 * (310) 900-0400
Business Description The company is a leading designer and developer of hydrogen fuel processors for fuel cell systems and industrial hydrogen generators.
Filing
Information

Not yet
public

To Trade As  HBTI (NASNTL) Industry  Manufacturing (SIC 3629)
Type of Stock Offered Common Shares Filing Date  9/8/00
Domestic Shares Filed 8,000,000 Filing Range  $11.00 - $13.00
Foreign Shares Filed  0 Offering Amount  $96,000,000
Company Shares  8,000,000 Est. Expenses  - -
Selling Shrhldrs Shares  0 Post-IPO Shares  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Salomon Smith Barney Lead Manager (212) 723-7300
CIBC World Markets Co-manager (212) 667-7400
Lehman Brothers Incorporated Co-manager (212) 526-8100
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures 6 Months Ending
Figures in U.S. millions except per share data     12/31/97 12/31/98 12/31/99 6/30/99 6/30/00
Revenues   - - 0.278 0.145 1.238 0.516 0.076
Income from Oper.   - - -2.629 -3.128 -3.394 -1.841 -2.370
Net Income   - - -1.846 -2.244 -2.937 -1.511 -2.140
E.P.S   - - - - -0.100 - -0.070
Revenue Growth (%)      - - -47.84 753.793   -85.27
Net Income Growth (%)      - - - -   -
Oper. Profit Margin (%)    - - - - - - -
Net Profit Margin (%)    - - - - - - -
Cash Flow - Oper.     -2.67 -1.62 -2.47
Cash Flow - Inv.     -0.04 -0.02 -0.05
Cash Flow - Fin.     2.91 1.74 4.21
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 6/30/00 Financial Ratios
Total Assets    3.66 Current Assets    3.18 Current Ratio    1.54
Total Liab.    2.79 Current Liab.    2.07 Debt Ratio    76.11%
Total Equity    0.88 Working Cap.    1.12 Debt to Equity Ratio    3.19
Cash    2.04    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used for capital expenditures, research and development, sales and marketing expenses, working capital and general corporate purposes.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Manatt, Phelps and Phillips
Bank's Law Firm  Cravath, Swaine & Moore
Registrar/Transfer Agent  ChaseMellon Shareholder Services, L.L.C.
Auditor  KPMG LLC
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Principal
Shareholders
Name of Shareholder% Owned
Before
% Owned
After
Visteon Corporation 27.18  
Sofinov Societe Financiere d'Innovation, Inc. 20.47  
G.D.F. International 6.59  
Note: represents ownership of 5% or more prior to the offering.

Last updated: 11/5/00 4:49:32 PM
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