New IRIS Warrants Trading on OTC Market

International Remote Imaging Systems Inc., a Chatsworth maker of automated urinalysis equipment, said its recently issued warrants are now trading on the over-the-counter market.

The warrants were part of a $1.1-million public offering by IRIS and a new company, LDA Systems Inc. Each of the units sold by the companies was priced at $10 and includes one share of LDA common stock and 10 warrants. Each warrant, in turn, gives its holder the right to buy IRIS common shares under certain terms.

Proceeds from the offering are being used by LDA and IRS to complete development of a new instrument, called the White IRIS leukocyte differential analyzer, which rapidly analyzes up to 10 kinds of white blood cells. The product is based on IRIS’ newly patented image-processing technology.