<PAGE> 1
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 30, 1996
REGISTRATION NO. 333-04415
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 3
FORM SB-2
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
------------------------
CARIBBEAN CIGAR COMPANY
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
------------------------
THOMAS R. DILK
CHIEF FINANCIAL OFFICER
CARIBBEAN CIGAR COMPANY
6265 S.W. EIGHTH STREET
MIAMI, FL 33144
(305) 267-3911 FAX: (305) 267-6026
(NAME, ADDRESS AND TELEPHONE NUMBER OF AGENT FOR SERVICE)
------------------------
COPIES TO:
<TABLE>
<S> <C>
ERIC S. KAMISHER, ESQ. BERT GUSRAE, ESQ.
ASHER S. LEVITSKY P.C. DAVID A. CARTER, P.A.
ESANU KATSKY KORINS & SIGER 355 WEST PALMETTO PARK RD.
605 THIRD AVENUE BOCA RATON, FL 33432
NEW YORK, NEW YORK 10158 (407) 750-6999 FAX: (407) 367-0960
(212) 953-6000 FAX: (212) 953-6899
</TABLE>
------------------------
CALCULATION OF REGISTRATION FEE
<TABLE>
<S> <C> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
MAXIMUM OFFERING
TITLE OF EACH CLASS OF AMOUNT TO BE PRICE PER AGGREGATE REGISTRATION
SECURITIES TO BE REGISTERED REGISTERED UNIT(1) OFFERING PRICE FEE
<S> <C> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.001 per share(2)......... 1,523,750 Shs. $ 7.00 $ 10,666,250.00 $ 3,678.02
- ----------------------------------------------------------------------------------------------------------------------------------
Redeemable Common Stock Purchase Warrants(2)....... 1,523,750 Wts. .125 190,468.75 65.68
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.001 per share(3)(4)...... 1,523,750 Shs. 7.00 10,666,250.00 3,678.02
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock Underwriter Warrants(5)............... 132,500 Wts. .00008 10.60 0
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.001 per share(4)(6)...... 132,500 Shs. 10.15 1,344,875.00 463.75
- ----------------------------------------------------------------------------------------------------------------------------------
Warrant Underwriter Warrants(7).................... 132,500 Shs. .00001 1.33 0
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock Purchase Warrants(4)(8)............... 132,500 Wts. .18125 24,015.63 8.28
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.001 per share(4)(9)...... 132,500 Shs. 10.15 1,344,875.00 463.75
- ----------------------------------------------------------------------------------------------------------------------------------
Total...................................... $ 8,357.50
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Estimated solely for purposes of computation of the registration fee
pursuant to Rule 457.
(2) Includes 198,750 shares of Common Stock and Redeemable Common Stock Purchase
Warrants ("Warrants") to purchase 198,750 shares of Common Stock issuable
upon exercise of the Underwriter's over-allotment option.
(3) Represents shares of Common Stock issuable upon exercise of the Warrants
offered pursuant to this Registration Statement.
(4) Pursuant to Rule 416, there are also being registered such additional
securities as may become issuable pursuant to the anti-dilution provisions
of the Warrants or the Underwriter's Warrants.
(5) Represents warrants to purchase Common Stock to be issued to the Underwriter
(the "Common Stock Underwriter's Warrants").
(6) Represents shares of Common Stock issuable upon exercise of the Common Stock
Underwriter's Warrants.
(7) Represents warrants to purchase Warrants to be issued to the Underwriter
(the "Warrant Underwriter's Warrants," and together with the Common Stock
Underwriter's Warrants, the "Underwriter's Warrants").
(8) Represents Warrants (the "Underlying Warrants") issuable upon exercise of
the Warrant Underwriter's Warrants.
(9) Represents shares of Common Stock issuable upon exercise of the Underlying
Warrants.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE> 2
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 24. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Reference is made to Paragraphs 6 and 7 of the Underwriting Agreement
(Exhibit 1.1) with respect to indemnification of the Company and the
Underwriter.
Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, offices or controlling persons of the registrant,
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that, in the opinion of the Securities and Exchange Commission, such
indemnification is against public policy as expressed in the Securities Act, and
is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered hereunder, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.
ITEM 25. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
<TABLE>
<S> <C>
SEC registration fee.................................................... $ 8,357.50
NASD registration fee................................................... 3,021.00
Nasdaq listing fee...................................................... 9,753.70
Printing and engraving.................................................. 100,000.00**
Accountants' fees and expenses.......................................... 70,000.00**
Legal fees.............................................................. 125,000.00**
Transfer agent's and warrant agent's fees and expenses.................. 10,000.00**
Blue Sky fees and expenses.............................................. 21,000.00**
Underwriter's non-accountable expense allowance......................... 325,701.00
Miscellaneous........................................................... 20,000.00**
----------
Total................................................................... $692,833.20**
==========
</TABLE>
- ---------------
* To be supplied by amendment.
** Estimated
ITEM 26. RECENT SALES OF UNREGISTERED SECURITIES
Set forth below is information concerning the issuance by the Company of
its securities since its organization in September 1995. All securities issued
are restricted securities and the certificates bear restrictive legends.
II-1
<PAGE> 3
(a) In connection with its organization in September 1995, the Company
issued 1,820,750 shares of Common Stock to Kevin Doyle and 638,250 shares of
Common Stock to Michael Risley for nominal consideration:
(b) In October 1995, the Company issued shares of Common Stock to the
following employees and service providers of the Company for nominal
consideration:
<TABLE>
<CAPTION>
NAME SHARES
---------------------------------------------------------------------------- ------
<S> <C>
Jeffrey Klein............................................................... 3,000
Chris Stamford*............................................................. 20,000
Bob Michaels*............................................................... 1,000
Alvaro Alonzo*.............................................................. 1,000
Bob Curtis.................................................................. 500
Diego Betancourt*........................................................... 1,000
</TABLE>
- ---------------
* Forfeited under terms of restricted grants.
(c) Pursuant to a November 1995 compensation agreement between the Company
and Thomas R. Dilk,
(i) Mr. Dilk's salary of $80,000 per year is payable in shares of
Common Stock, issued at $1.25 per share. As of May 15, 1996, 48,000 shares
were issued to Mr. Dilk pursuant to this agreement; and
(ii) The Company issued 10,000 shares of Common Stock to Thomas R.
Dilk at the price of $1.25 per share.
(d) From September through December 1995, the Company issued its 10%
Promissory Notes in the principal amount of $250,000. In connection with such
loans, the Company issued 250,000 shares of Common Stock for $.10 per share. The
issuance of the notes and Common Stock was exempt from the registration
requirements of the Securities Act pursuant to Section 4(2) thereof.
Set forth below is information relating to the notes and shares of Common
Stock issued in connection with such interim financing:
<TABLE>
<CAPTION>
NAME PRINCIPAL OF NOTE NUMBER SHARES
----------------------------------------------------- ----------------- ----------------
<S> <C> <C>
Thomas R. Dilk....................................... $ 100,000 100,000
Tony Kamen........................................... 75,000 75,000
George Markelson..................................... 25,000 25,000
Edward D. Arioli Revocable Living Trust.............. 10,000 10,000
Janet Kenning........................................ 5,000 5,000
Donna Millar......................................... 5,000 5,000
Eric S. Kamisher..................................... 5,000 5,000
Douglas Zindulka..................................... 5,000 5,000
John Banta........................................... 5,000 5,000
Charles Spina........................................ 15,000 15,000
</TABLE>
(e) In January 1996, the Company issued an aggregate of 125,000 shares of
Common Stock for $2.00 per share. The sale of the Common Stock was exempt from
the registration requirements of the Securities Act pursuant to Section 4(2)
and/or 4(6) and Rule 506 of the Commission. Set forth below is information
relating to the issuance of the shares of Common Stock:
<TABLE>
<CAPTION>
NAME SHARES PRICE PER SHARE
------------------------------------------------------------- ------ ---------------
<S> <C> <C>
The Athena Fund Ltd. ........................................ 65,000 2.00
Harbinger Partners, L.P. .................................... 35,000 2.00
Robert Vaughn................................................ 25,000 2.00
</TABLE>
II-2
<PAGE> 4
(f) Pursuant to a January 1996 agreement between the Company and Mark
DeVuyst, 25% of Mr. DeVuyst's compensation as a consultant is payable in shares
of Common Stock, at the rate of $3.50 per share. As of June 30, 1996, 4,100
shares were issued to Mr. DeVuyst pursuant to this agreement.
(g) In March 1996, the Company issued 1,000 and 2,000 shares of Common
Stock to each of Charles Cauley and Andres Siverio, respectively, both employees
of the Company, for nominal consideration. The shares issued to Charles Cauley
were subsequently forfeited under terms of restricted grants.
(h) In March 1996, the Company issued 75,000 shares of Common Stock at
$2.00 per share in exchange for cancellation of promissory notes in the
principal amount of $150,000, which are described in Paragraph (d) of this Item
26. The remaining $100,000 in notes were repaid. The sale of the Common Stock
was exempt from the registration requirements of the Securities Act pursuant to
Section 4(2) and/or 4(6) and Rule 506 of the Commission. Set forth below is
information relating to the issuance of the shares of Common Stock:
<TABLE>
<CAPTION>
NAME SHARES PRICE PER SHARE
------------------------------------------------------------ ------- ---------------
<S> <C> <C>
Thomas R. Dilk.............................................. 50,000 2.00
George Markelson............................................ 12,500 2.00
Edward D. Arioli Revocable Living Trust..................... 5,000 2.00
Donna Millar................................................ 2,500 2.00
Eric S. Kamisher............................................ 2,500 2.00
John Banta.................................................. 2,500 2.00
</TABLE>
(i) In February through May 1996, the Company issued an aggregate of
606,348 shares of Common Stock for $3.50 per share for the aggregate
consideration of $2,122,218. The sale of the Common Stock was exempt from the
registration requirements of the Securities Act pursuant to Section 4(2) and/or
4(6) and Rule 506 of the Commission. Set forth below is information relating to
the issuance of the shares of Common Stock:
<TABLE>
<CAPTION>
NAME SHARES PRICE PER SHARE
------------------------------------------------------------ ------- ---------------
<S> <C> <C>
Edward D. Arioli Revocable Living Trust..................... 7,000 3.50
James W. Forsythe Jr........................................ 1,428 3.50
Timothy J. Horan............................................ 2,857 3.50
Harbinger Partners, LP...................................... 10,000 3.50
The Athena Fund, Ltd. ...................................... 20,000 3.50
Merv Adelson Trust.......................................... 8,000 3.50
The Mosbacher Trust......................................... 5,000 3.50
Fairbanks Partners, L.P. ................................... 2,000 3.50
Rhino Fund, Ltd. ........................................... 18,000 3.50
Common Fund Hedged Equity Fund.............................. 12,000 3.50
Carlos Gonzales............................................. 7,000 3.50
Frederic Powers............................................. 2,857 3.50
Christopher Powers.......................................... 2,857 3.50
Stephen Powers.............................................. 2,857 3.50
William J. Hickey........................................... 2,857 3.50
Antonio A. Cabral, Jr. and Rosario V. Cabral................ 2,000 3.50
Sally D. Price.............................................. 2,000 3.50
Judith L. Leahy............................................. 1,000 3.50
Joseph L. DeMarzo........................................... 1,428 3.50
David Portnoy............................................... 32,143 3.50
Mark Raymer................................................. 2,000 3.50
Maroons Partnership......................................... 3,571 3.50
Ralph Giorgio............................................... 7,000 3.50
David Heiss................................................. 1,900 3.50
Robert A. Cervoni........................................... 3,500 3.50
U.S. Clearing Corp. FBO John P. Nolan IRA Rollover Account
#117-95023-13............................................. 1,600 3.50
</TABLE>
II-3
<PAGE> 5
<TABLE>
<CAPTION>
NAME SHARES PRICE PER SHARE
------------------------------------------------------------ ------- ---------------
<S> <C> <C>
U.S. Clearing Corp. FBO Steven S. Gladstone IRA Rollover
Account #117-95016-12..................................... 10,500 3.50
U.S. Clearing Corp. FBO Robert G. Weppler IRA Rollover
Account #117-95032-12..................................... 3,500 3.50
U.S. Clearing Corp. FBO Timothy McDonald IRA Rollover
Account #117-95022-14..................................... 3,500 3.50
U.S. Clearing Corp. FBO Barry Small IRA Rollover Account
#117-95027-19............................................. 3,500 3.50
Donald E. Weeden IRA Rollover Trust......................... 3,500 3.50
Lincoln Trust Co, Custodian FBO Nora D. Kimball............. 5,714 3.50
Kenneth Alan Horowitz....................................... 3,500 3.50
Michael J. Daly Jr.......................................... 7,000 3.50
William M. Merkler.......................................... 4,500 3.50
Thomas H. Reynolds.......................................... 1,429 3.50
Paul Di Biasio.............................................. 14,000 3.50
Arrabel R. Sykes............................................ 4,286 3.50
Hope Murphy................................................. 4,286 3.50
Harris Barton............................................... 3,429 3.50
Le Dinh Can................................................. 14,000 3.50
James P. Snow............................................... 2,857 3.50
John O'Neil................................................. 2,800 3.50
Frank S. Cagio.............................................. 1,000 3.50
William Tonyes.............................................. 14,293 3.50
Jibs Equities............................................... 10,000 3.50
Penn Footwear Retirement Trust.............................. 10,000 3.50
Stephen J. Dresnik, M.D. ................................... 7,000 3.50
James K. Slusser............................................ 7,500 3.50
Arthur Gronbach............................................. 3,500 3.50
Stephen B. Olore............................................ 7,000 3.50
Markus O. Bohi.............................................. 3,571 3.50
Scott T. Pilling............................................ 3,571 3.50
Mary L. Orians.............................................. 5,000 3.50
Jerry Lowery................................................ 5,000 3.50
Mathers Associates.......................................... 15,000 3.50
Jack Gilbert................................................ 7,000 3.50
Kenneth L. Atwell Revocable Trust........................... 3,000 3.50
Randy Gavlik and Kim Gavlik................................. 3,000 3.50
Anita Visbal................................................ 21,000 3.50
G.B. Conley................................................. 7,000 3.50
Jay Matthew................................................. 7,143 3.50
Robert M. Rubin............................................. 10,000 3.50
Richard Oakley.............................................. 3,500 3.50
Teddy Struhl................................................ 7,143 3.50
Walter A. Fox IRA........................................... 3,642 3.50
Jerry Lowery................................................ 5,000 3.50
Joseph Guttman and Lieve Guttman............................ 8,571 3.50
Yitz Grossman............................................... 14,286 3.50
Donald Silpe & Linda Silpe.................................. 10,000 3.50
Dante Greco................................................. 10,000 3.50
Edward D. Arioli............................................ 14,286 3.50
Sparakis Nickos............................................. 28,571 3.50
</TABLE>
II-4
<PAGE> 6
<TABLE>
<CAPTION>
NAME SHARES PRICE PER SHARE
------------------------------------------------------------ ------- ---------------
<S> <C> <C>
Eleftherios Kougentakis..................................... 14,286 3.50
Michael G. Theodoroveakos................................... 10,000 3.50
Robert Scannell............................................. 35,000 3.50
Eugene Capel................................................ 2,000 3.50
Stanley Wirtheim............................................ 600 3.50
Paramount Acquisition....................................... 33,729 3.50
(j) In February 1996, the Company issued 2,000 shares of Common Stock for $3.50 per share
to each of Scott Maddux and the Jansken Group for consulting services rendered.
</TABLE>
ITEM 27. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(A) EXHIBITS
<TABLE>
<C> <S>
1.1(1) Form of Underwriting Agreement.
1.2(1) Form of Selected Dealer Agreement.
3.1(1) Restated Certificate of Incorporation, as amended.
3.2(1) By-Laws
4.1(1) Form of Underwriter Warrant Agreement between Registrant and Underwriter to which
the form of Underwriter Warrant Certificate is included as an exhibit.
4.2(1) Form of Warrant Agreement among the Registrant and Continental Stock Transfer &
Trust Company, as Warrant Agent, to which the form of Redeemable Common Stock
Purchase Warrant is included as an exhibit.
4.3(1) Speciman Common Stock Certificate.
4.4(1) Speciman Warrant Certificate
5.1(1) Opinion of Esanu Katsky Korins & Siger.
10.1(1) Employment Agreement dated January 1, 1996, between the Registrant and Kevin
Doyle.
10.2(1) Compensation Agreement dated November 1, 1995 between the Registrant and Thomas
R. Dilk.
10.3(1) 1996 Long-Term Incentive Plan.
10.4(1) Form of Subscription Agreement relating to the 1996 Private Placement.
10.5(1) Form of Redeemable Common Stock Purchase Warrant (included in Exhibit 4.2).
10.6(1) Form of Underwriter's Warrant to purchase Warrants (included in Exhibit 4.1).
10.7(1) Form of M/A Agreement between the Registrant and the Underwriter.
10.8(1) Non-Employee Director Stock Option Plan
11.1(1) Computation of Earnings per Share
24.1(1) Consent of Grant Thornton LLP (See Page II-8)
24.3(1) Consent of Esanu Katsky Korins & Siger (included in Exhibit 5.1).
25.1(1) Powers of attorney (included on Signature Page)
27.1(1) Financial Data Schedule.
</TABLE>
- ---------------
(1) Previously filed.
(2) To be filed by amendment.
(B) FINANCIAL STATEMENT SCHEDULES
None
II-5
<PAGE> 7
ITEM 28. UNDERTAKINGS
The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) To reflect in the prospectus any facts or events arising after
the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the registration statement;
(iii) To include any material information with respect to the plan
of distribution not previously disclosed in the registration statement
or any material change to such information in the registration
statement.
(2) For determining liability under the Securities Act, to treat each
post-effective amendment as a new registration statement of the securities
offered, and the offering of the securities at that time to be the initial
bona fide offering.
(3) To remove from the registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4) To provide to the underwriter at the closing specified in the
underwriting agreement certificates in such denominations and registered in
such names as required by the underwriter to permit prompt delivery to each
purchaser.
(5) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officer or controlling
persons of the registrant, pursuant to the foregoing provisions, or
otherwise, the registrant has been advised that, in the opinion of the
Securities and Exchange Commission, such indemnification is against public
policy as expressed in the Securities Act, and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in
the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the
securities being registered hereunder, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in
the Securities Act and will be governed by the final adjudication of such
issue.
(6) For determining any liability under the Securities Act, to treat
the information omitted from the form of prospectus filed as part of this
registration statement in reliance upon Rule 430A and contained in a form
of prospectus filed by the issuer under Rule 424(b)(I), or (4) or 497(h)
under the Securities Act as part of this registration statement as of the
time the Commission declared it effective.
(7) For determining any liability under the Securities Act, to treat
each post-effective amendment that contains a form of prospectus as a new
registration statement for the securities offered in the registration
statement, and that offering of the securities at that time as the initial
bona fide offering of those securities.
II-6
<PAGE> 8
SIGNATURES
In accordance with the requirements of the Securities Act of 1933, as
amended, the Registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Miami, State of Florida on this the 30th day of July, 1996
CARIBBEAN CIGAR COMPANY
By: /s/ KEVIN DOYLE
------------------------------
Kevin Doyle, President
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Amendment to this registration statement has been signed by the following
persons on behalf of the Registrant and in the capacities and on the dates
indicated.
<TABLE>
<CAPTION>
SIGNATURE TITLE DATE
- ------------------------------------- ------------------------------------ --------------
<C> <S> <C>
/s/ KEVIN DOYLE Chairman of the Board, Chief July 30, 1996
- ------------------------------------ Executive Officer and Director
Kevin Doyle (Principal Executive Officer)
/s/ THOMAS R. DILK Chief Financial Officer and Director July 30, 1996
- ------------------------------------ (Principal Financial and
Thomas R. Dilk Accounting Officer)
/s/ ERIC S. KAMISHER Director July 30, 1996
- ------------------------------------
Eric S. Kamisher
/s/ LUCIANO NICASIO Director July 30, 1996
- ------------------------------------
Luciano Nicasio
</TABLE>
II-7
<PAGE> 9
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We have issued our report dated May 15, 1996, accompanying the financial
statements of Caribbean Cigar Company contained in Amendment No. 2 to the Form
SB-2 Registration Statement and Prospectus. We consent to the use of the
aforementioned report in the Registration Statement and Prospectus, and to the
use of our name as it appears under the caption "Experts."
GRANT THORNTON LLP
Miami, Florida
July 24, 1996
II-8
<PAGE> 10
EXHIBIT INDEX
<TABLE>
<CAPTION>
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER DESCRIPTION PAGE
- ------- ---------------------------------------------------------------------- ------------
<C> <S> <C>
1.1(1) Form of Underwriting Agreement........................................
1.2(1) Form of Selected Dealer Agreement.....................................
3.1(1) Restated Certificate of Incorporation, as amended.....................
3.2(1) By-Laws...............................................................
4.1(1) Form of Underwriter Warrant Agreement between Registrant and
Underwriter to which the form of Underwriter Warrant Certificate is
included as an exhibit................................................
4.2(1) Form of Warrant Agreement among the Registrant and Continental Stock
Transfer & Trust Company, as Warrant Agent, to which the form of
Redeemable Common Stock Purchase Warrant is included as an exhibit....
4.3(1) Speciman Common Stock Certificate.....................................
4.4(1) Speciman Warrant Certificate..........................................
5.1(1) Opinion of Esanu Katsky Korins & Siger................................
10.1(1) Employment Agreement dated January 1, 1996, between the Registrant and
Kevin Doyle...........................................................
10.2(1) Compensation Agreement dated November 1, 1995 between the Registrant
and Thomas R. Dilk....................................................
10.3(1) 1996 Long-Term Incentive Plan.........................................
10.4(1) Form of Subscription Agreement relating to the 1996 Private
Placement.............................................................
10.5(1) Form of Redeemable Common Stock Purchase Warrant (included in Exhibit
4.2)..................................................................
10.6(1) Form of Underwriter's Warrant to purchase Warrants (included in
Exhibit 4.1)..........................................................
10.7(1) Form of M/A Agreement between the Registrant and the Underwriter......
10.8(1) Non-Employee Director Stock Option Plan...............................
11.1(1) Computation of Earnings Per Share.....................................
24.1(1) Consent of Grant Thornton LLP (See Page II-8).........................
24.3(1) Consent of Esanu Katsky Korins & Siger (included in Exhibit 5.1)......
25.1(1) Powers of attorney (included on Signature Page).......................
27.1(1) Financial Data Schedule...............................................
</TABLE>
- ---------------
(1) Previously filed.
(2) To be filed by amendment.
