Infrared Industries, Inc.
| Company Deal | sale of 135,000 shares of common stock |
|---|---|
| Transaction Type | Common Stock |
| Deal Description | Infrared Industries, Inc., used a portion of the proceeds from this transaction to discharge its outstanding short-term bank notes. An additional portion of the proceeds was made available to I R Development Corporation to enable this subsidiary to discharge its outstanding notes. Another portion of the proceeds was used to construct and equip the plant that the company intended to build in Santa Barbara, California. The balance of the proceeds was used for general corporate purposes, including working capital. |