Atrix warrant offering exceeds expectations.MINNEAPOLIS--(BUSINESS WIRE)--Oct. 10, 1995--Atrix International announced that the Company completed a private sale of 451,666 shares of common stock at a price of $0.75 each and warrants to purchase 150,555 shares of common stock. On Sept. 30, 1995, Atrix Atrix is an online action game developed by Galaxy Gate and published by NCsoft. External links
The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $308,750 from the private offering. The purpose of the offering was to increase the Company's capital and surplus in order to comply with NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap Market rules that require that the Company maintain capital and surplus of $2 million, which is required because the minimum bid price of the Company's Common Stock has been less than $1.00 per share. As of Sept. 30, 1995, the Company has capital and surplus of $2,158,924, which reflects the net proceeds from the sale of shares in the private offering. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Atrix President Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. D. Riedel  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . , the $308,750 exceeded the Company's goal of raising $200,000 to $300,000 as reported in the Company's Sept. 27, 1995 press release. He further stated that the capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. further strengthens the Company's balance sheet. This coupled with a strong cash position and seven quarters of profitability, enables Atrix to expand the business including potential product acquisitions. Attached hereto here·to adv. To this document, matter, or proposition. hereto Adverb Formal or law to this place, matter, or document Adv. 1. as Exhibit A is the Company's balance sheet as of September September: see month. 30, 1995. Atrix is a leading edge manufacturer of remote metering and copy control products. The company is also a manufacturer of toner An electrically charged ink used in copy machines and laser printers. It adheres to an invisible image that has been charged with the opposite polarity onto a plate or drum or onto the paper itself. vacuums, vacuum filters and printed circuit board transport cases for the office machine industry and distributes tools, and instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. for field service organizations throughout the world. The common stock of Atrix is traded on NASDAQ under the symbol ATXI. -0-
Atrix International, Inc.
Balance Sheet
ASSETS September 30,
1995
Current Assets:
Cash $1,005,514
Restricted Cash 400,000
Accounts receivables less allowance for
doubtful accounts ($17,554) 877,048
Inventories 827,701
Prepaid Expenses 110,646
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Total Current Assets 3,220,909
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Property and equipment, net 281,411
Intangible assets, net 14,804
Software development costs, net 258,924
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TOTAL ASSETS $3,776,048
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable $534,821
Notes payable - bank 995,153
Notes payable - shareholders 0
Current maturities of long-term debt 5,575
Accrued liabilities 74,668
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Total current liabilities 1,610,217
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Notes payable - long term 6,907
Shareholders' Equity:
Preferred stock, $0.01 par value
3,000,000 shares authorized, no shares issued
Common stock, $0.01 par value,
50,000,000 shares authorized,
5,653,644 issued and outstanding 56,536
Capital in excess of par value 3,261,969
Accumulated deficit (1,159,581)
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Total shareholders' equity 2,158,924
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $3,776,048
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CONTACT: Atrix International Inc. Steven D. Riedel, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 612/894-6154 |
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