TCR_Public/960628.MBX BANKRUPTCY CREDITORS' SERVICE, INC.


Bankruptcy News For:  June 27, 1996



  1. Bio-Dental Technologies reports fiscal 1996 year-end results
  2. Circle Fine Art makes announcement
  3. Enviropur Waste Refining and Technology, Inc. announces reorganization





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Bio-Dental Technologies reports fiscal 1996 year-end results




SACRAMENTO, Calif. -- June 28, 1996 -- Bio-Dental
        Technologies Corp. (NASDAQ/NM:BDTC) Friday reported results for its
        fiscal 1996 fourth quarter and year ended March 31, 1996.
        


            For the year, revenues increased 5 percent to $33,091,216 from
        $31,582,277 for fiscal 1995.  The company reported a net loss of
        $2,265,977, or 36 cents per share, for fiscal 1996, vs. net loss of
        $419,437, or 7 cents per share, for the same period a year ago.
        


            Revenues for the fourth quarter were $7,508,352, compared with
        $8,043,775 for the same period last year.  The company experienced a
        net loss for the quarter of $1,010,266, or 16 cents per share,
        compared with a net loss of $1,001,931, or 16 cents per share, for
        the fourth quarter of fiscal 1995.
        


            Curtis M. Rocca III, president and chief executive officer of
        Bio-Dental, said:  "Our revenue growth this year was mainly
        attributable to the increase in average volume per customer at our
        subsidiary, The Supply House.  
        


            "The losses throughout the year as well as lower sales in the
        fourth quarter are due primarily to disappointing results from our
        Integrated Dental Technologies (IDT) subsidiary.  During the fourth
        quarter, we initiated a transition of IDT toward a more focused
        marketing program on our core technology products.
        


            "We made the decision to restructure our IDT operations in order
        to address the poor financial performance of the subsidiary.
        Associated with this restructuring and related new-product
        introductions, the company took certain restructuring charges,
        inventory writedowns and a reserve for returned products totaling
        approximately $1.1 million."  
        


            "During this last year, we devoted significant human and
        financial resources toward developing and promoting the `paperless
        dental office,' a concept that is based upon the employment of state-
        of-the art, integrated dental technologies such as filmless x-rays,
        intra-oral camera systems, computerized patient charting systems,
        multimedia patient education programs and Windows(TM)-based dental
        practice management software," explained Rocca.
        


            "As previously configured, these IDT systems proved unprofitable
        to market and service.  As a result, we experienced losses
        throughout the year, and these disappointing results led us to
        restructure IDT's operations in the fourth quarter.  
        


            "This restructuring entailed a reduction of staff, the
        elimination of certain product lines, including filmless x-ray and
        low-margin computer hardware, and reducing our strategic emphasis on
        the sale  of integrated systems, which, over time, we determined
        were prohibitively expensive to market and service.
        


            "With this transition of IDT largely behind us," added Rocca,
        "We remain optimistic that we can transform IDT into a profitable,
        growing part of Bio-Dental."
        


            Meanwhile, the company's other subsidiary, The Supply House, had
        a much more positive year.  
        


            The company believes that, as an increasing number of dentists
        throughout the country begin to participate in a managed care
        environment and experience the attendant cost-containment pressures,
        The Supply House, with its "guaranteed lowest-price" approach, is
        well positioned to service the needs of this growing segment.  
        


            As a result of this positioning, The Supply House secured
        endorsements from three managed care organizations wherein the
        company will offer preferred pricing to their providers totaling
        more than 18,000 dentists.
        


            After the close of the fiscal year, Bio-Dental announced it had
        signed a letter of intent to sell its economic interest in the
        future royalty payments from Denticator International Inc. to Young
        Innovations Inc. of Earth City, Mo.  
        


            Under the terms of this transaction, which is expected to close
        in July 1996, the company will receive approximately $7.5 million in
        cash in lieu of future royalties, which represents the estimated net
        present value of Bio-Dental's projected future royalties, including
        a scheduled lump-sum payment that would have been due in April 1999.
        


            The company expects the sale of these royalties to strengthen
        its balance sheet, eliminate all outstanding bank debt and notes
        payable, and provide the company with its highest cash balance ever.
        


            On June 3, 1996, Bio-Dental announced it had signed a letter of
        intent to merge with Zila Inc. (NASDAQ:ZILA) in an exchange of
        common stock.  With headquarters in Phoenix, Zila markets a rapidly
        growing line of non-prescription oral health care products and is
        currently marketing the first oral cancer diagnostic, OraTest, in
        Canada, the United Kingdom and Australia.
        


            Zila intends to market OraTest in the United States exclusively
        through Bio-Dental pending FDA approval.  The proposed transaction
        calls for each share of Bio-Dental to be exchanged for between 0.75
        and 0.825 shares of Zila stock.
        


            Bio-Dental Technologies manufactures, markets and distributes
        dental supplies and proprietary, high-technology dental products to
        the $2 billion professional dental supply market in all 50 states
        and Canada.
        


            The information set forth in this news release includes forward-
        looking statements and references to potential future developments.
        Such statements and references are based upon certain assumptions,
        including but not limited to the consummation of the proposed lump-
        sum sale of the company's royalty rights in products sold by
        Denticator, the closing of the company's merger with Zila Inc., the
        successful execution of the company's restructuring plan for IDT,
        the growth in market demand for IDT's products, the success of The
        Supply House in obtaining additional contracts with managed dental
        care insurance companies, and growth of its sales as a result of
        such contracts.


        
                         Bio-Dental Technologies Corp.
                             Financial Highlights

        
                             Three months ended           Year ended
        March 1,                 1996         1995         1996         1995
        
        Revenues         $ 7,508,352  $ 8,043,775  $33,091,216  $31,582,277
        Net (loss)       $(1,010,266) $(1,001,931) $(2,265,977) $  (419,437)
        (Loss) per
          share            (16 cents)   (16 cents)   (36 cents)    (7 cents)
        Weighted avg
          shares
          outstanding      6,423,000    6,168,000    6,285,000    6,118,000

        
CONTACT:  Bio-Dental Technologies Corp., Sacramento
                  Curtis M. Rocca III, 916/638-8147
                          or
                  Silverman Heller Associates, Los Angeles
                  Eugene G. Heller, 310/208-2550



Circle Fine Art Retains Asset Management Company to Conduct Nation's Largest Art Liquidation


        


CHICAGO, IL -- June 28, 1996 -- Circle Fine Art Corp.,
        the Chicago-based fine art retailer, has retained the Hilco/Great
        American Group, a nationally known asset management company, to
        assist the retailer in conducting a complete liquidation of Circle's
        vast art and jewelry collection.  
        


            The liquidation sale starts today.  Circle Fine Art Corp., one
        of the nation's largest publicly held retailers of fine art, filed
        for bankruptcy on Feb. 8.
        


            The stores to be liquidated are located in the following cities:
        New Orleans; Bal Harbour, Fla.; Toronto; San Diego; San Francisco;
        Chicago and New York.
        


            "This liquidation sale is the largest of its kind in history and
        will be conducted throughout the United States and Canada in the
        weeks to come," according to Joseph Atkin, president of Circle Fine
        Art Corp.  The Circle Gallery Collection contains over $200 million
        of authenticated original fine art, signed limited edition
        lithographs, serigraphs, photography, animation art, sculpture and
        jewelry.
        


            A spokesperson for the Hilco/Great American Group, with offices
        in Chicago and Los Angeles, said it is common for retailers to seek
        assistance in operating these kinds of sales.  "We specialize in
        conducting and supervising retail sales of all kinds and have
        conducted many major inventory management projects throughout the
        United States and Canada."
        


            The Circle Gallery Collection consists of works by more than 200
        artists, including Norman Rockwell, Peter Max, Erte, Dali, Gallo,
        Wyeth, Vasarely, Agam, Eisenstaedt, Schultz, Hanna-Barbera, Freleng
        and Chuck Jones.
        


            "All items in the Circle Gallery Collection will be sold,
        providing our customers with an outstanding opportunity to purchase
        contemporary art at extremely advantageous prices," Atkin concluded.
        



CONTACT:  Hilco/Great American Group, Northbrook
                  Richard Glabman, 847/509-1100
                                or
                  Kamer-Singer & Associates, San Francisco
                  Sam Singer or Heather Coons, 415/512-6800



Enviropur Waste
Refining and Technology, Inc. announces reorganization



CHICAGO, IL -- June 28, 1996 -- Enviropur
Waste
        Refining and Technology, Inc.
(NASDAQ: EPUR) announced today that it
        has begun a reorganization through the filing of a voluntary
        petition under chapter 11 of the US Bankruptcy Code.  The Company
        will remain operating and fully reporting while it restructures its
        obligations which are currently due, and seeks up to $5,000,000 of
        new capital.  
        


            Enviropur suffered major losses when its Chicago facility was
        effectively closed from September, 1994 through November, 1995 due
        to PCB contamination which it received from Argonne National
        Laboratory, a Department of Energy research facility.  The removal
        of the contaminated material and cleaning of the facility were
        completed by November, 1995 at the expense of Argonne; however, the
        Company was not able to recover lost working capital, and its
        investment bankers were unable to complete the committed $3,000,000
        private placement.  
        


            Through the petition filing, Enviropur will now have the time to
        properly negotiate long term borrowing and equity arrangements, as
        well as to structure payment of its obligations.  The Company is
        planning to have its plan of reorganization filed within 45 days,
        and hopes to complete the entire reorganization process following
        its September 30 year end.  
        


            While in reorganization, Nasdaq requires that the Company's
        trading symbol be amended with a "Q".  Effective at the open of
        trading on July 2, 1996 Enviropur's Common Stock will trade under
        the symbol EPURQ.  
        


            Enviropur is a full service resource recovery company serving
        the Midwest from its refinery in Chicago, Illinois and the West
        Coast market from its facilities in Signal Hill and Patterson,
        California.
        


CONTACT:  Enviropur -
                  Kathleen K. McDaniel, 708/442-6000, ext. 1211