AVT settles about $1.1 million trade payables in exchange for shares

Ironridge gets stock to fund building of automated retailing systems

By Devika Patel

Knoxville, Tenn., July 3 - AVT, Inc. said it has settled trade payables of about $1.1 million in exchange for common stock issued to Ironridge Consumer Co.

The capital will be used to build company-owned automated retailing systems, which will be rapidly deployed to create recurring revenue streams for AVT.

AVT is based in Corona, Calif. It makes technology-based, product-dispensing solutions and equipment.

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