Comparator Stock Placement Raises Cash and Cancels Debts

Comparator Systems, a Costa Mesa manufacturer of fingerprint comparison devices, has completed a private placement of 138.5 million shares of common stock for about $908,000 cash and cancellation of about $1.71 million in loans. The company said an additional 36 million shares were issued to certain past and present employees, consultants and others, mostly in cancellation of compensation obligations.

The company said it will use proceeds from the stock placement to expand its marketing efforts and for research and development. A company spokesman said the cash and debt relief obtained through the offering will alleviate Comparator Systems’ financial difficulties.