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PREMIER LASER SYSTEMS, INC.
SUPPLEMENT DATED NOVEMBER 5, 1996 TO PROSPECTUS
DATED OCTOBER 15, 1996
The Prospectus of Premier Laser Systems, Inc. (the "Company") dated October
15, 1996 is hereby supplemented as follows:
On November 1, 1996, the Company entered into a letter of intent with
Refractive Surgery Services ("RSS") to form a joint venture for the purpose of
developing and marketing a software program (the "Program") to be used primarily
in the management and marketing of ophthalmic medical practices. Under this
arrangement, if completed, the joint venture would be owned 51% by the Company
and 49% by RSS. The Company would deliver to RSS common stock having a fair
market value of $1.2 million and would commit to provide $1 million in financing
to the joint venture. Upon the achievement of specified objectives, the Company
would be required to deliver an additional $300,000, either in cash or common
stock. RSS would transfer to the joint venture its software, technology, assets
and liabilities.
Completion of this transaction is subject to certain conditions, including,
among others, negotiation and execution of definitive agreements, performance of
a "due diligence" review by the Company of the RSS technology and operations and
final approval of the Boards of Directors of the Company and RSS. No assurance
can be given, therefore, that this transaction will be completed or that the
joint venture will be able to complete the development of, or successfully
market, the Program.
On November 5, 1996, Mr. Michael Hiebert succeeded James Polentz as the
Company's Vice President-Finance and Chief Financial Officer. Prior to joining
the Company, Mr. Herbert, age 33, was the controller and director of management
information systems and business analysis of Urethane Technologies, Inc., a
plastics manufacturer, which position he held from 1994 to 1996. From 1992 to
1994 Mr. Hiebert was Vice President, Finance and Administration of Active
Organics, Inc., a cosmetics manufacturer and from 1987 to 1992 he was an
accounting manager with the general engineering firm of C. A. Rasmussen, Inc.
