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URETHANE TECHNOLOGIES INC. ANNOUNCES AMENDMENT TO REGISTRATION STATEMENT

URETHANE TECHNOLOGIES INC. ANNOUNCES AMENDMENT TO REGISTRATION STATEMENT
 IRVINE, Calif., June 5 /PRNewswire/ -- Urethane Technologies Inc. ("UT") (OTC Bulletin Board: UTTI) announced that it has filed an amendment to its pending Form S-1 registration statement. The amended statement reflects settlement of litigation and the results of operations for the first quarter ended March 31, 1992.
 UT announced that it has signed a letter of intent with Whales Securities the "underwriter" to sell 870,000 shares of its common stock in a public offering. With the sale of additional shares pursuant to the exercise of an overallotment option to the underwriter, the total shares sold in the proposed offering could equal as much as 1 million shares.
 The 870,000 shares anticipated to be sold by UT will be newly issued shares. UT has 7,009,894 shares outstanding as of Feb. 28, 1992. The letter of intent calls for a .72 reverse stock split and an offering price which will not exceed $5 per share on a post reverse split basis.
 Any offering of shares will only be made through a final prospectus upon a registration statement becoming effective.
 -0- 6/5/92
 /CONTACT: James Frakes of Urethane Technologies, 714-837-0800/
 (UTTI) CO: Urethane Technologies Inc. ST: California IN: SU:


EH-AL -- LA003 -- 7340 06/05/92 09:02 EDT
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Publication:PR Newswire
Date:Jun 5, 1992
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