Irvine-based Axis Research and Technologies Inc. recently filed to sell $20 million worth of stock in an initial public offering.
The company is planning to sell 10 million shares at a price of $2 each, it said in a Securities and Exchange Commission filing.
Axis provides medical education facilities, including what it described in the filing as a 12,000-square-foot facility containing a biological skills laboratory.
“The current Southern California market place has only a few older, smaller, and less accommodating medical lab sites for device testing and research,” Axis wrote.
The company said it would use proceeds to become fully operational.
It also said it hopes its stock would be quoted on the over-the-counter bulletin board exchange.
Axis isn’t profitable; it posted a loss of $103,804 on revenue of $105,641 in the three months ended March 31.
