Current and New Investors Continue to Fund Foodservice R&D Company.Business Editors MILLERSVILLE, Md.--(BUSINESS WIRE)--Nov. 6, 2002 International Dispensing Corporation (IDC) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IDND IDND Indianapolis Discovery Network for Dementia .OB)--Existing long-time investors and one new investor have purchased $500,000 of International Dispensing Corporation's Series D preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . With multiple products in different phases of development these additional funds will help International Dispensing Corporation (IDC) bridge the decreasing gap between revenues and expenditures. Revenues continue to be generated by both the Beverage Carafe (BC) and Aseptic aseptic /asep·tic/ (-tik) free from infection or septic material. a·sep·tic adj. Of, relating to, or characterized by asepsis. Gravity Flow (GFV GFV Guaranteed Future Value GFV Government Furnished Vehicle GFV Graft Flow Velocity GFV Guided Flight Vehicle ) valve and reception by the end users of these two products are above expectations. It is planned that in December 2002 the BC will be introduced in two leading convenience store chains in PA and NJ as well as additional national and regional distribution companies. The new tooling and assembly equipment necessary to increase volumes and reduce unit cost for the GFV will be completely online by December 1, 2002. This additional capacity will allow IDC to continue to grow with Goodwest Industries, distributors for Parmalat Dairy, and begin supplying the leading worldwide bag manufactures with the GFV. International Dispensing, founded in 1995 and based in Millersville, MD, is a research and development company that develops and manufactures leading edge packaging and aseptic dispensing solutions for the foodservice industry. In 2002 the company was awarded two utility patents for its aseptic gravity flow valve and disposable beverage carafe. Additional information about the company's products is available at the IDC web site http://www.idcdispensing.com or by contacting Ms. Maryann McManamon 410-729-0125 Ext 224. This release may contain 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 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. These statements reflect IDC's current views about future events. Risks, which may cause actual results to differ materially, may include, but are not limited to: the lack of acceptance of our products by potential customers; our failure to continue to develop our product line or to attract and retain customers; our failure to anticipate and adapt to developing markets and the presence of competition, including potential competitors that are larger than IDC, with greater financial, technical, and marketing resources. |
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