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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 extra savings allowed the mother, Estella, to hire a babysitter to watch the children while she attended culinary school. Today, Estella is a cook at Denver''s prestigious Brown Palace, a five-star restaurant located in the heart of downtown Denver. Now that she''s working as a cook, her family "experiences even more financial freedom and they now are living in an affordable home," says Pritchard.TAKING IT TO THE STREETSHabitat''s program of involving volunteers in the building process provides them with valuable knowledge and experience. With the Green Team program, volunteers who tote 2x6s and hammer nails--many of whom will build their own homes some day--also have an opportunity to learn about energy-efficient solar homes and green building materials. "As we build the homes, volunteers are definitely learning from the construction supervisors what they''re putting in and why they''re doing what they''re doing to create energy efficiency. Every morning on the job site, we hold a volunteer orientation and talk about our energy-efficient homes," says Pritchard. "We''re also sharing knowledge and experience with other affiliates." Though light in weight, Airbor magnetic drill has a powerful 1.6-hp air motor and 1,600-lb magnetic holding strength. With its extra rack, stroke length is extended to 10 1/4 in. Annular cutter capacity is up to 2 1/16 in. diam. Geared chuck adapter converts the unit to a standard drill press. The Slugger Air Force pneumatic drill, at 24 lbs, 6 1/4" high, is useful for confined area drilling. The drill''s features include a permanent magnet that turns on or off by air power, a cutter capacity of up to 1 1/16" diameter x 3/4" depth and the ability to use ShortSlugger cutters and frame cutters. These cutters'' geometry allows the operator to drill multi-layered truck frames in a single pass.
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