Saturday, August 13, 2005
Caprius (CAPS) 10-Q for Q1 05
First, let's look at the balance sheet and capital structure.
Assets are largely cash, $2.7 million; goodwill $700K; inventories $617K; intangible assets $404K.
Total liabilities are $900K, all current.
Equity is $3.8 million. There are multiple classes of preferred shares involved. In a subsequent event, all of the 66,681shares of Series C Pfd all converted into 2,299,345 shares of common. The company now has 3,321,673 shares of common. There are still 27,000 Series B shares outsanding (no Series A). The Series B shares can be converted into 640,800 shares at prices from $0.50 to $0.75.
(From the 10-K)
GE owns the 27,000 Series B Pfds, purchased in 1997. The Series B Pfds are convertable into 1,159,793 shares of common.
There are also warrants to purchase 1,425,000 shares at $0.28, expires June 2009.
There are warrants to purchase another 261,250 shares of common at $0.15, expires June 2009.
Another set of warrants to purchase 250,000 shares at $0.09, expire in Sept 2007.
Another set of warrants to purchase 300,000 shares at $0.08, expire in Feb 2006.
Another set for 500,000 shares of common at $0.75, expired in June 2005.
Another set for 500,000 shares of common at $1, expired in June 2005.
Another 2.8 million stock options are outstanding, average $0.18, 7 years.
The company lists 20.5 million shares diluted.
(End of 10-K info)
In the March 31, 2005 10-Q, they claim to have 1.482 million shares diluted. However, we need to add another 3.25 million shares due to underwater stock options and warrants and who knows what else.
Assume total super diluted shares: 4.8 million shares
Current market cap: $14.2 million
Stopping here. It's unlikely for me to invest in this company.
Assets are largely cash, $2.7 million; goodwill $700K; inventories $617K; intangible assets $404K.
Total liabilities are $900K, all current.
Equity is $3.8 million. There are multiple classes of preferred shares involved. In a subsequent event, all of the 66,681shares of Series C Pfd all converted into 2,299,345 shares of common. The company now has 3,321,673 shares of common. There are still 27,000 Series B shares outsanding (no Series A). The Series B shares can be converted into 640,800 shares at prices from $0.50 to $0.75.
(From the 10-K)
GE owns the 27,000 Series B Pfds, purchased in 1997. The Series B Pfds are convertable into 1,159,793 shares of common.
There are also warrants to purchase 1,425,000 shares at $0.28, expires June 2009.
There are warrants to purchase another 261,250 shares of common at $0.15, expires June 2009.
Another set of warrants to purchase 250,000 shares at $0.09, expire in Sept 2007.
Another set of warrants to purchase 300,000 shares at $0.08, expire in Feb 2006.
Another set for 500,000 shares of common at $0.75, expired in June 2005.
Another set for 500,000 shares of common at $1, expired in June 2005.
Another 2.8 million stock options are outstanding, average $0.18, 7 years.
The company lists 20.5 million shares diluted.
(End of 10-K info)
In the March 31, 2005 10-Q, they claim to have 1.482 million shares diluted. However, we need to add another 3.25 million shares due to underwater stock options and warrants and who knows what else.
Assume total super diluted shares: 4.8 million shares
Current market cap: $14.2 million
Stopping here. It's unlikely for me to invest in this company.
// posted by Bruce @ 10:37 AM 
