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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (2895)	8/6/1999 7:34:00 PM
From: Peter V	Respond to of 10293

Some more BWT stuff from Yahoo post.messages.yahoo.com OCA is only going to add 5 to 10 locations in 12 months. Not a big revenue generator. It also looks like BWT may have to modify its contracts with the dentists operating its centers, with an unknown effect on future revenues. They are paying 100K per quarter for leased space in just four locations. Not including the bundle they spent on new dental chairs and equipment. New locations will have lease costs of over 20K per quarter per each location, and the Honolulu location will have lease costs of 25K per quarter. And don't forget, the revenues are partly from interest on $16 million in cash. At 5 percent annual interest, that's $200K. From the 10KSB: sec.gov On June 28, 1999 the Company had 4 Centers and 6 Associated Centers in operation. The Company plans to open additional Centers and Associated Centers throughout the United States and in selected foreign countries. The OCA-BriteSmile venture will place LATW systems in 5 to 10 OCA locations in the next 12 months. The Company presently has 4 Centers operating in California and plans to open other Centers in California in fiscal 2000. The Company's LATW procedure is deemed by the state of California to be a part of the practice of dentistry. California law prohibits general business corporations (such as the Company) from directly engaging in the practice of dentistry. For that reason, the Company has contracted with PCs owned by dentists licensed in California to administer the LATW procedure at its California Centers. The California Board of Dental Examiners (the "Board") is presently reviewing the BriteSmile corporate structure and its contractual relationships with the PCs and the dentists who provide LATW services at the Centers to determine compliance with California law. Based upon the decision of the Board, the Company may be required to modify its contractual relationships with the PC's and the dentists who provide LATW services at the Centers. At present the Company has four Whitening Centers operating under lease agreements in California, including Walnut Creek, Irvine, Pasadena and Beverly Hills. The Irvine and Beverly Hills leases have lease terms of ten years each, and require aggregate lease payments of approximately $870,000 and $1,500,000 respectively over the life of the leases. The Walnut Creek and Pasadena agreements are for five years each, with aggregate payments of $420,000 and $393,000 respectively. Each Center lease covers prime street level retail spaces, approximately 3,000 square feet each, with improvements to create attractive salon settings. Equipment available at each Center includes BriteSmile 2000 devices, dental chairs and dental cabinetry and equipment, all in new condition. In June 1999, the Company completed a private placement of 1,355,555 shares of its Common Stock for total proceeds of $15,000,000. The proceeds from the sale of the Common Stock is expected to be utilized by the Company to fund current operations as well as fund the planned opening and operations of new Whitening Centers and Associated Centers. As of June 30, 1999, the expected cash position of the Company will be approximately $16,000,000.