From the Desk of Radar comes: VVID - OWNERSHIP and MANAGEMENT
Concentration of Ownership; Control by Management.
As of December 17, 1997, the Company's executive officers, directors
and their affiliates and members of their immediate families
beneficially owned approximately 18% of the outstanding shares of
Common Stock, excluding shares issuable upon exercise of options and
warrants.
Charles. T. O'Neill "beneficial owner" 9.0% of the outstanding shares
of Common Stock. 800,000 shares of Common Stock, comprised of (i)
250,000 shares held by the undersigned as Trustee of the Ellenbogen
Family Irrevocable Trust of 1996; (ii) 350,000 shares held by the
undersigned as Trustee of the S. David Ellenbogen 1996 Retain Annuity
Trust; and 200,000 shares held by the undersigned as Trustee of the Jay
A. Stein 1996 Retained Annuity Trust.
Massachusetts Capital Resource Company "beneficial owner" of 9.5% of the
outstanding shares of Common Stock. As of December 31, 1996,
Massachusetts Capital Resource Company was the "beneficial owner" of
846,284 shares of Common Stock, comprised of 789,780 shares and 56,504
shares issuable pursuant to presently exercisable warrants.
Beta Partners Limited Partnership 9.5% of the outstanding shares of
Common Stock. Frank Kenny, a director of the company, is a general
partner of Beta Management Partners Limited Partnership (which is the
general partner of Beta Partners Limited Partnership). As general
partner of the fund, he may be deemed to share voting and investment
powers for the securities held by the fund.
PIONEER CAPITAL CORPORATION 803,970 shares 9.0% of the outstanding
shares of Common Stock 803,970 shares of Common Stock, comprised of
750,290 shares and 53,680 shares issuable pursuant to presently
exercisable warrants held by Pioneer Ventures Limited Partnership, a
venture fund the general partner of which is a wholly-owned subsidiary
of Pioneer Capital Corporation which exercises voting and investment
authority with respect to the shares held by Pioneer Ventures Limited
Partnership.
Management and Employees:
As of September 30, 1997, the Company had 109 full-time
employees, including 30 in manufacturing operations and quality
assurance, 34 in research, development and engineering, 26 in
marketing, sales and customer support, 15 in finance and
administration and four in data management. None of the Company's
employees is represented by a union. The Company considers its
employee relations to be good.
Executive Officers
The executive officers of the Company and their ages are as
follows:
Name Age Position
S. David Ellenbogen 59 Chairman of the Board and Chief
Executive Officer
Dr. Jay A. Stein 55 Senior Vice President, Technical
Director and Director
Stephen A. Reber 45 President and Chief Operating
Officer
William J. Frain 31 Chief Financial Officer and
Treasurer
James J. Aldo 46 Vice President of Marketing and
Sales
Daniel J. Silva 45 Vice President of Operations
S. David Ellenbogen, a co-founder of the Company, has served as its
Chief Executive Officer and a director since its organization in June
1989 and served as its President from June 1989 until February 1997.
Mr. Ellenbogen was also a co-founder of Hologic, a developer,
manufacturer and seller of X-ray and other bone densitometers, served
as its President from October 1985 until May 1994, and is currently
its Chairman of the Board and Chief Executive Officer.
Dr. Jay A. Stein, a co-founder of the Company and Hologic, has
served as Senior Vice President, Technical Director and a director
for both companies since their organization. Dr. Stein co-founded
DTI with Mr. Ellenbogen in 1981, served as Vice President and
Technical Director of DTI and was Technical Director of the digital
angiography group of its successor, ATL, from 1982 to 1985. Dr.
Stein received a Ph.D. in Physics from The Massachusetts Institute of
Technology.
Stephen A. Reber has served as the Company's President and Chief
Operating Officer since February 1997. Prior to joining the Company,
Mr. Reber served as President of the MacBeth division of Kollmorgen
Corporation, a color instrumentation and process control producer,
from February 1994 to February 1997. Mr. Reber received BS and MS
degrees in chemical engineering from The Massachusetts Institute
of Technology and an MBA from Harvard Business School.
William J. Frain, a Certified Public Accountant, has served as
Chief Financial Officer and Treasurer since October 1996. Prior to
that, Mr. Frain served as Controller from August 1993 until October
1996. Prior to joining the Company, Mr. Frain served as an auditor at
Arthur Andersen LLP from September 1988 to August 1993.
James J. Aldo has served as Vice President of Marketing and Sales
since July 1993. Prior to that, Mr. Aldo served as Director of Sales
and Marketing since joining the Company in July 1989.
Daniel J. Silva has served as Vice President of Operations since
April 1994. Prior to that, Mr. Silva served as the Company's Director
of Operations from June 1992 to April 1994.
Significant Employees
Certain key employees of the Company who are not also executive
officers or directors are as follows:
Kristoph D. Krug joined the Company in July 1989 as a Project
Engineer, was promoted to Director of Research and Development
Engineering in 1992 and became Chief Technical Officer in January
1997. Mr. Krug is the author of two of the Company's patents for X-
ray screening.
Jeremy M. Attree has served as Director of Operations, Europe since
joining the Company in October 1993. From September 1991 to October
1993, Mr. Attree served as Marketing Manager for EA Technology Ltd, a
primary research and development center for the electricity industry
in the United Kingdom. Prior to joining EA Technology, Mr. Attree
served as Marketing Director and Development Manager for Schlumberger
Industries, Security Division, where he was engaged primarily in the
development of new products in the airport security field. |
