As filed with the Securities and Exchange Commission on
January 29, 1998 Registration No. 333-45121
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------
FORM SB-2
REGISTRATION STATEMENT
Under
The Securities Act of 1933
FRISBY TECHNOLOGIES, INC.
(exact name of Registrant as specified in its charter)
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<CAPTION>
<S> <C> <C>
Delaware 3086 62-1411534
(State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer
incorporation or organization) Classification Number) Identification Number)
</TABLE>
417 South Main Street
Freeport, New York 11520
(516) 378-0162
(Address, including zip code, and telephone number,
including area code, of Registrant's principal executive offices)
----------------------------------------------------------------
Gregory S. Frisby
Chief Executive Officer
417 South Main Street
Freeport, NY 11520
(516) 378-0162
(516) 378-0262 (fax)
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copies to:
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<CAPTION>
<S> <C> <C>
Irvin Brum, Esq. Shari K. Krouner, Esq.
William A. Ubert, Esq. Kramer, Levin, Naftalis & Frankel
Margo L. Intrator, Esq. 919 Third Avenue
Ruskin, Moscou, Evans & Faltischek, P.C. New York, New York 10022
170 Old Country Road (212) 715-9100
Mineola, New York 11501 (212) 715-8000 (fax)
(516) 663-6600
(516) 663-6641 (fax)
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Approximate date of commencement of proposed sale to the public: As soon as
practicable after this Registration Statement becomes effective.
If any of the securities being registered on this form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, check the following box: [ ]
If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. [ ]
If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [ ]
If delivery of the prospectus is expected to be made pursuant to Rule 434,
please check the following box. [ ]
CALCULATION OF REGISTRATION FEE
===============================================================================
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Title of each Class of Number of Shares to Proposed Maximum Proposed Maximu Amount of
Securities to be Registered be Registered (1) Offering Price per Share Aggregate Offering Price Registration Fee
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, $.001 par value 1,840,000 (2) $8.00 $14,720,000 $4,342.40
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock, $.001 par value (3) 160,000 $9.60 $ 1,536,000 $ 453.12
- ----------------------------------------------------------------------------------------------------------------------------------
Total Fee $4,795.52
- ----------------------------------------------------------------------------------------------------------------------------------
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(1) Estimated solely for purposes of calculating the registration fee.
(2) Includes 240,000 shares to cover the Over-Allotment Option.
(3) Issuable upon exercise of the Underwriter's Options.
The Registrant hereby amends this Registration Statement on such date or
dates as may be necessary to delay its effective date until the Registrant shall
file a further amendment which specifically states that this Registration
Statement shall thereafter become effective in accordance with Section 8(a) of
the Securities Act of 1933 or until this Registration Statement shall become
effective on such date as the Commission, acting pursuant to said Section 8(a),
may determine.
<PAGE>
SIGNATURES
In accordance with the requirements of the Securities Act of 1933, the
Company certifies that it has reasonable ground to believe that it meets all of
the requirements of filing on Form SB-2 and authorizes this Registration
Statement to be signed on its behalf by the undersigned, in the City of
New York, State of New York, on January 29, 1998.
FRISBY TECHNOLOGIES, INC.
By:/s/Gregory S. Frisby
----------------------------------
Gregory S. Frisby, President
Dated: January 29, 1998
Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed by the following persons in the capacities and on the
dates indicated. Each person whose signature appears below hereby authorizes
Gregory S. Frisby with full power of substitution to execute in the name of such
person and to file any Amendment or Post-Effective Amendment to this
Registration Statement making such changes in this Registration Statement as the
Company deems appropriate and appoints Gregory S. Frisby with full power of
substitution, attorney-in-fact to sign and to file any amendment and
Post-Effective Amendment to this Registration Statement.
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<CAPTION>
Signature Title Date
<S> <C> <C>
/s/Gregory S. Frisby Chairman of the Board of January 29, 1998
- --------------------- Directors, President, Chief
Gregory S. Frisby Executive Officer and (Principal
Financial Officer)
/s/Jeffry D. Frisby Director January 29, 1998
- ---------------------
Jeffry D. Frisby
/s/Pietro A. Motta
- ---------------------
Pietro A. Motta Director January 29, 1998
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0001051904
<NAME> Frisby Technologies, Inc.
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> Dec-31-1997
<PERIOD-START> Jan-01-1997
<PERIOD-END> Sep-30-1997
<CASH> 24,429
<SECURITIES> 0
<RECEIVABLES> 281,951
<ALLOWANCES> 30,000
<INVENTORY> 149,321
<CURRENT-ASSETS> 477,367
<PP&E> 106,923
<DEPRECIATION> 41,828
<TOTAL-ASSETS> 642,650
<CURRENT-LIABILITIES> 1,350,542
<BONDS> 0
0
0
<COMMON> 500
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> (809,642)
<SALES> 921,898
<TOTAL-REVENUES> 921,898
<CGS> 745,125
<TOTAL-COSTS> 745,125
<OTHER-EXPENSES> 1,034,352
<LOSS-PROVISION> (680,906)
<INTEREST-EXPENSE> 25,541
<INCOME-PRETAX> (706,347)
<INCOME-TAX> 44,792
<INCOME-CONTINUING> (751,139)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (751,139)
<EPS-PRIMARY> (0.26)
<EPS-DILUTED> 0
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