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Technology Stocks : Irvine Sensors -- Ignore unavailable to you. Want to Upgrade?

To: Ed Newman who wrote (429)	1/26/1998 8:53:00 AM
From: the hube	Read Replies (1) \| Respond to of 1673

Monday January 26, 6:00 am Eastern Time Company Press Release SOURCE: Irvine Sensors Corporation Irvine Sensors Raises $4.1 Million Secures $1 Million Discount in Final Close of Vermont Operation COSTA MESA, Calif., Jan. 26 /PRNewswire/ -- Irvine Sensors Corporation (Nasdaq: IRSN, Boston Stock Exchange: ISC) announced today that it has secured a $1 million discount in the close of its Vermont plant due to the completion of private financings aggregating $4.1 million. Included in the financings was a private placement of approximately 3.8 million units consisting of preferred shares convertible into approximately 3.8 million shares of Common Stock of Irvine Sensors Corporation plus warrants to purchase shares in each of Irvine Sensors' two privately financed and consolidated operating subsidiaries, NOVALOG, INC. and MicroSensors, Inc. John J. Stuart, Jr., Chief Financial Officer of Irvine Sensors, said, ''Because financing was available, we were able to take advantage of payment discounts of over $1 million while exiting Vermont. The combination of these discounts and the proceeds of the financings also help us address the heightened Nasdaq(TM) net worth standards that become effective February 23, 1998.'' Irvine Sensors, headquartered in Costa Mesa, California, is primarily engaged in the development and manufacture of high density packages of computer electronics, imaging and sensing devices, and low power integrated circuits which are intended to have broad applications in military and commercial systems. SOURCE: Irvine Sensors Corporation Anyone know how much more they need to meet the new net worth standards?