IPO Profile

Nephros Inc.
3960 Broadway, New York, New York 10032
Tel: 212-781-5113
Web:
Ticker: NEP
Stock Exchange: American Stock Exchange
Shares Issued: 2,100,000.00
Price Offered: $6.00
Amount Raised: $12,600,000.00

Underwriters:
Shemano Group
National Securities




Company Description:
We are a development stage medical device and technology company that was founded in 1997 by health professionals, scientists and engineers affiliated with Columbia University to develop cost-effective, improved products and therapies for End Stage Renal Disease, or ESRD, therapy. Our products incorporate our proprietary Mid-Dilution Diafiltration technologies (�MDF�). We began sales of our first product in March 2004. Because we do not yet have adequate sales history, we will not recognize revenue from these sales until certain rights of return have expired. We have incurred losses since our inception primarily as a result of our research and development efforts. To date, we have relied on private sales of our securities and loans from our shareholders to fund operations. We anticipate, based on our currently proposed plans and assumptions, that the net proceeds of this offering will be sufficient to satisfy our cash requirements, with no further financing, to obtain positive cash flow.