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The company raised $5.5 million through the sale of 73,333 shares of a newly designated Series B Preferred Stock via a private placement with a major investor. The transaction closed on Oct. 9, 2000. The proceeds from the sale were used to retire trade debt and strengthen working capital in preparation for the busy pre-holiday manufacturing season."This major cash infusion comes at an opportune time for Karts International -- with our biggest annual sales period right around the corner," said Chairman Blair benGerald. "The retirement of debt and additional working capital will allow us to ramp up our production to meet the high demand expected during the year 2000 holiday gift-giving season." "The new high-performance cutting platforms deliver increased productivity through the use of innovative engineering, advanced technology and quality manufacturing," Moron says."They are specifically designed to better utilize the capacity of the 60 Series combines - the end result is the most productive header/separator combination ever built by John Deere.All 600 Series platforms are now true-width configurations. - the model designation represents the platform cutterbar''s true cutting width. If you buy a 620 HydraFlex Platform, you know it will cut the crop in a 20-foot swath. * I use a 4.5-kilowatt portable welder with a Kohler motor for backup power at the house. It''s not quiet, and it uses too much fuel, but it works well.* I use a Generac 4-kilowatt gas generator to run a freezer, refrigerator, lights and to energize a fence during power outages. It''s just big enough to power a 2-horsepower air compressor.* I bought a 60-kilowatt diesel-powered automatic generator in 1994 when we put up new hog barns. Previously I had a 40-kilowatt PTO generator. Trouble was, it took 15 minutes to get a tractor going and everything hooked up. And we didn''t have an alarm system, so if nobody was home we were in trouble. The automatic setup, including a 400-amp transfer switch and other wiring, cost $20,000.
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