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Neosurg Technologies, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Trocar developer is planning an initial public offering of up to 2.4 mil. shares of common stock at $6.25 each, representing approximately 16% of the company. The Houston firm's principal product, the T2000 reusable trocar system for laparoscopic surgical procedures, "combines the convenience of a disposable trocar with the cost savings of a reusable," Neosurg claims. Anticipated proceeds of approximately $14.1 mil. are tabbed for product development, an expanded sales effort and other operations. Founded in July 1997, Neosurg has produced no revenues to date and recorded a net loss of $497,699 in 1999
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