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VALLEY ROUNDUP

Incomnet Raises $1 Million From Stock Offering

March 10, 1987

Incomnet said it received $1 million from unidentified private investors in exchange for preferred stock and warrants that allow the investors to buy Incomnet common stock.

The Westlake Village-based company, which makes equipment allowing computer users to exchange messages, also said it has laid off 34 people over the past three months because it transferred all its manufacturing from Westlake Village to its plant in India.

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