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TOUCHSTONE APPLIED SCIENCE ASSOCIATES COMPLETES INITIAL PUBLIC OFFERING

TOUCHSTONE APPLIED SCIENCE ASSOCIATES COMPLETES INITIAL PUBLIC OFFERING
 BREWSTER, N.Y., June 24 /PRNewswire/ -- Touchstone Applied Science Associates, Inc., (the company) (NASDAQ: TASA) completed its initial public offering of $1,560,000. The offering consisted of 300,000 units at $5.20 per unit. Each unit consisted of one share of common stock, one class A common stock purchase warrant, and one class B common stock purchase warrant.
 On Monday, June 15, 1992, the company filed its quarterly report on Form 10-Q for the quarter ended April 30, 1992. The company's quarterly report indicated net sales of $684,610 and net income of $191,604. For the first six months the net income was $403,000 or $.24 per share.
 The company produces, distributes, and markets educational tests and software used throughout the country.
 -0- 6/24/92
 /CONTACT: Scott M. Zucker, attorney for Touchstone Applied Science Associates, 516-466-0500/
 (TASA) CO: Touchstone Applied Science Associates, Inc. ST: New York IN: SU: OFR


TS-OS -- NY031 -- 3274 06/24/92 11:56 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
Words:171
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