AccuPoll Announces That Wholly-Owned Subsidiary Z prompt Completes Financial Restructuring and Emerges From Chapter 11.TUSTIN, Calif. -- Earlier Than Anticipated Dismissal Following Restructuring of Debt; Company Anticipates Profitable Operation for Foreseeable Future Z prompt, a wholly-owned subsidiary of AccuPoll (OCTBB:ACUP ACUP Association of Canadian University Presses (Association des Presses Universitaires Canadiennes) ACUP Association of College & University Printers ), today announced that its restructuring has been completed and that it has emerged from Chapter 11 proceedings Chapter 11 Proceedings Provisions of the Bankruptcy Reform Act under which the debtor firm is reorganized by a court because the estimated value of the reorganized firm exceeds the expected proceeds from its liquidation. . The early dismissal was accomplished with the majority of debts resolved and a restructuring of the small amount of remaining debt. AccuPoll anticipates that the subsidiary will continue to operate profitably as it has for the past several months. "This event helps the organization better support our customers and provides a stable partner in the rollout and maintenance of AccuPoll's electronic voting Electronic voting (also known as e-voting) is a term encompassing several different types of voting, embracing both electronic means of casting a vote and electronic means of counting votes. systems," said Frank Wiebe, president of AccuPoll Holdings, Corp., parent company to Z prompt. Effective with its emergence from Chapter 11, Z prompt's capital structure has been improved so that its debt is significantly lower than before. As a result of the restructuring, Z prompt will operate with a lower cost basis, a more nimble staff and a reduced cost of delivery. Z prompt will continue to provide a number of standard service programs to fit the needs of customers, supporting a wide variety of hardware equipment and business locations. Standard service programs are available for U.S. and Canadian-based companies and cover On-site Desktop & Network Printer Service, Installation & Training, and Preventive Maintenance. About Z prompt Z prompt, Inc. manages technology support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for mid-range to Fortune 1000 companies. Using the latest technological advancements available, Z prompt assists management, end users, equipment manufacturers and other leading technology service companies by performing on-site hardware maintenance and related services. About AccuPoll Holding Corp. Headquartered in Tustin, CA, AccuPoll (OCTBB:ACUP) is the developer of a federally qualified electronic voting system featuring an intuitive touch screen input and a voter verified paper audit trail Voter Verified Paper Audit Trail (VVPAT) or Verified Paper Record (VPR) was intended as an independent verification system for voting machines designed to assure voters that their vote was cast correctly, to detect possible election fraud or malfunction, and to provide a (VVPAT VVPAT Voter Verified Paper Audit Trail (voting machines) ) that can be confirmed by the voter at the time the ballot is cast, creating a permanent paper audit trail as mandated in the "Help America Vote Act The Help America Vote Act (HAVA, Pub.L. 107-252) is a United States federal law passed the House 357-48 and 92-2 in the Senate[1] and was signed into law by President Bush on October 29, 2002. of 2002" (HAVA). For additional information, visit www.accupoll.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. |
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