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Chipcards, Inc.
Citicorp Center, One Sansome Street, 19th Floor, San Francisco, CA 94104 * (415) 951-1078
Business Description The company is engaged in the installation of production lines for the manufacture of smart cards. We provide our customers with the technology, equipment, supplies, installation, training and support for a turnkey smart card operation.
Filing
Information

Not yet
public

To Trade As  - - (NASSCM) Industry  Manufacturing (SIC 3612)
Type of Stock Offered Common Shares Filing Date  5/14/2001
Domestic Shares Filed 1,000,000 Filing Price  $8.10
Foreign Shares Filed  0 Offering Amount  $8,100,000
Company Shares  1,000,000 Est. Expenses  - -
Selling Shrhldrs Shares  0 Post-IPO Shares  11,641,250
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Thornwater Company, L.P., The Lead Manager  
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures - - Months Ending
Figures in U.S. millions except per share data       12/31/1999 12/31/2000    
Revenues   - - - 4.340 6.454 - -
Income from Oper.   - - - - - - -
Net Income   - - - -0.571 -0.325 - -
E.P.S   - - - -0.090 -0.030 - -
Revenue Growth (%)      - - - 48.698   -
Net Income Growth (%)      - - - -   -
Oper. Profit Margin (%)    - - - - - - -
Net Profit Margin (%)    - - - - - - -
Cash Flow - Oper.     0.17 - -
Cash Flow - Inv.     -0.03 - -
Cash Flow - Fin.     0.01 - -
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 12/31/2000 Financial Ratios
Total Assets    4.67 Current Assets    1.68 Current Ratio    0.47
Total Liab.    6.42 Current Liab.    3.57 Debt Ratio    137.43%
Total Equity    -1.75 Working Cap.    -1.89 Debt to Equity Ratio    -
Cash    0.29    Return on Assets   -
Use Of
Proceeds
The proceeds from the proposed offering will be used to purchase capital equipment, project finance, construction of an additional production facility, increased sales and marketing expenditures, potential future acquisitions, employee recruitment and working capital and other general corporate purposes.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Ziegler, Ziegler & Altman
Bank's Law Firm  Parker Chapin Flattau & Klimpl
Registrar/Transfer Agent  Continental Stock Transfer & Trust Co
Auditor  BDO Seidman
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Last updated: 9/14/2001 2:47:53 PM
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