DataWave Systems Inc. Announces Law Suit Filed By Michael Zwebner.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--March 30, 2000 DataWave (CDNX CDNX See Canadian Venture Exchange (CDNX). :DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. .)(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DWVSF) learned today that Michael Zwebner has filed a $1.2 million (Cdn) suit against the Company for payment of an introductory fee/commission on a transaction wherein Zwebner claims the Company received a benefit of $12 million. The Company's position is that this claim has no merit and it will vigorously defend against this action. About DataWave DataWave designs, develops, produces, owns and manages a proprietary, intelligent, automated direct-merchandising network known as the DataWave System. The Company uses the DataWave System to distribute prepaid calling cards. The DataWave System is comprised of DataWave Merchandisers (DTMs), which are free-standing intelligent machines capable of dispensing multiple prepaid products, and over-the-counter "swipe" units (OTCs) for point-of-sale prepaid retailing. Both of these are connected to the Company's proprietary communications gateway and database software through a wireless and/or land line wide area network. The first DTM DTM dermatophyte test medium. was placed early in 1996 and the first OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). device later the same year. During this implementation and roll out, DataWave's intelligent DTM concept has proven to be successful in winning major accounts in 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. prepaid calling card market. This news release may include statements that constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. "DataWave" together with design is a registered trademark of the Company. All trademarks and trade names referred to are the property of their respective owners. On Behalf of the Board of Directors DataWave Systems Inc. John Gunn, General Manager, CFO See Chief Financial Officer. |
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