JUNE 11--Integral Vision Inc. (Farmington Hills, MI; www.iv-usa.com) has raised $1 million from the sale of restricted stock to a small capital fund. The sale involved 813,000 shares at a price of $1.23 per share. "This sale, along with our recent conversion of interest and debt to equity, has substantially improved our balance sheet. These changes come at a time when we expect to be cash flow positive from operations. The microdisplay market is currently very active, and we believe we are in position to be the market leader for the sale of automated inspection equipment into this market," said Charles J. Drake, chairman and CEO of Integral Vision Inc.
Integral Vision, Inc., an ISO 9001 registered firm, offers machine-vision-based inspection systems to the industrial manufacturer. The company is a supplier of systems used to monitor or control the manufacturing process. Vision systems are used to supplement human inspection or provide quality assurance when production rates exceed human capability.