Javelin Systems Plans Initial Public Offering

Javelin Systems Inc., which sells point-of-sale computers for the food service industry, said it hopes to raise nearly $6 million, less underwriting fees, through a proposed initial public stock sale.

The company said it has filed a registration statement with the Securities and Exchange Commission to sell 850,000 shares of common stock for $5 to $7 per share. All of the shares are to be issued and sold by the company. The stock sold through the offering, combined with other shares already privately held by executives and investors, would total about 2.95 million shares.

Javelin, founded in September 1995, said it had a loss of $54,000 on sales of $1.46 million for its fiscal year that ended June 30. In its fourth quarter, the company said it had a profit of $86,000 on sales of $1.2 million.

The 12-employee company said it planned to use the proceeds of the stock sale for general corporate purposes, including building inventory and increasing marketing. The offering will be underwritten by Meridian Capital Group Inc. of Newport Beach.