Cash Technologies Files Shareholder Registration.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 18, 2002 Cash Technologies, Inc. (AMEX AMEX See: American Stock Exchange :TQ) today announced that it has filed a registration statement with the Securities and Exchange Commission to provide for the resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. of Common Stock by holders of outstanding classes of convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , convertible notes, warrants and options. Cash Technologies is not offering any shares for sale, and will not receive any proceeds from the sale of the shares described in the registration statement unless the warrants and options held by shareholders are exercised for cash. The registration statement, on Form SB2, will provide for the potential resale of 8,001,284 shares of common stock in three categories: (a) Approximately 2.7 million shares previously issued and already included in the Company's 6,167,867 currently issued and outstanding shares as of June 14, 2002; (b) Approximately 4 million shares underlying warrants and options that would, if exercised, result in cash proceeds to the Company of approximately $20,300,000; and (c) Approximately 1.3 million shares underlying preferred securities and convertible notes. Only category (c) represents a potential increase of the Company's share capital without additional proceeds to the Company. If all such securities were converted to Common Stock the Company's total outstanding shares would be approximately 7.5 million shares. "This registration statement has been filed in order to satisfy commitments made to investors in our private placement offerings," stated Edmund King, chief financial officer of Cash Technologies. The registration statement is subject to review by the SEC, and the Company cannot determine when the registration statement will be declared effective. Prior to any sale of shares, the registration statement must be declared effective and shareholders will be required to deliver a prospectus in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with SEC regulations. This announcement is not an offer for the sale of any securities. About Cash Technologies Cash Technologies, Inc. (www.cashtechnologies.com) develops and markets innovative data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a systems, including the EMMA EMMA Engstrom Multigas Monitor for anesthesia. (TM) transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. software, the multifunction ATM-X(TM) and POS-X(TM) client software and PrISM(TM) security system. Through EMMA, consumers and businesses may access a wide variety of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. via ATMs, POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale terminals and wireless devices. Check cashing, electronic bill payment, event ticketing, interactive advertising, Internet-based products and other functions will be offered on ATMs, cellular phones and other devices using a variety of payment methods, including ATM, credit and stored-value cards A smart card that is "loaded" with cash. See smart card. , checks and cash. Matters discussed in this release include 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. that involve risks and uncertainties, and actual results may be materially different. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. |
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