Precision Optics (POCI) Registration Filing summary

Company overview and business model

• Developer and manufacturer of advanced optical instruments since 1982, focusing on proprietary medical instrumentation, custom design, and manufacturing for minimally invasive surgery and other applications.

• Acquired Ross Optical Industries in 2019, expanding into custom optical components for military, defense, medical, and industrial uses.

• Acquired Lighthouse Imaging in 2021, adding expertise in advanced optical imaging systems and chip-on-tip visualization for medical devices.

• Revenue streams include engineering services, sale of optical components, and manufacturing of assemblies, with a shift toward higher component sales in 2023.

• Technology developed for medical devices is also applicable to defense and aerospace sectors.

Financial performance and metrics

• Operating losses of $638,548 in 2023 and $1,513,890 in 2022; accumulated deficit of $48,239,007 as of June 30, 2023.

• Working capital increased to $4,599,536 in 2023 from $1,918,575 in 2022.

• Raised $2.52 million in gross proceeds from a private placement in June 2023 and increased bank credit facilities.

• As of June 4, 2024, market value of outstanding common stock held by non-affiliates was approximately $27.6 million.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital and acquisitions.

• Any specific use of proceeds for an offering will be detailed in the relevant prospectus supplement.