Bristol Retail Solutions, a Subsidiary of VoiceFlash Networks, Receives Final Approval for DIP Financing.Business Editors/High-Tech Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Aug. 2, 2001 VoiceFlash Networks, Inc. (Nasdaq:VFNX), announced today that Bristol Retail Solutions, Inc., its wholly-owned subsidiary, received final approval for debtor-in-possession (DIP) financing by the Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California. This DIP financing is intended to bring Bristol sufficient liquidity to pay all current and expected trade and employee obligations and is intended to meet its operating and investment needs during the reorganization process. Bristol expects the reorganization to be completed within a few months. 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 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: The statements in this press release which are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Safe Harbor provisions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties set forth in VoiceFlash's and Bristol Retail Solutions' filings with the SEC, including risks and uncertainties related to securing adequate sources of capital, effectiveness of Bristol's distribution organization, technological challenges, historical operating loses, competition and difficulties in integrating the merger partners. About VoiceFlash Networks, Inc. VoiceFlash Networks, Inc. (Nasdaq:VFNX) is a leader in the commercialization and integration of BlueTooth wireless technologies into legacy point-of-sale software and hardware systems. The Company's technologies are being developed to lead the wireless evolution by linking independent mobile devices on a unified platform for the management of personal consumer data via point-of-sale systems and an open standards-based Application Programming Interface (API). For more information, please visit VoiceFlash at http://www.voiceflash.com. |
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