Datawave Systems Inc.: Coinstar and Datawave Restructure Relationship.Business Editors BELLEVUE, Wash. & VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 21, 2002--Coinstar Inc. (Nasdaq:CSTR CSTR Centre for Speech Technology Research CSTR Canister CSTR Continually Stirred Tank Reactor CSTR Center for Software Testing Research (Florida Tech) CSTR Combat System Trial Rehearsal (US DoD) ) and DataWave Systems Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: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) today announced an agreement to restructure their relationship. Under the new agreement, Coinstar will be able to use certain elements of DataWave's technology and will pay DataWave a royalty on fees for certain future prepaid products distributed through the Coinstar Center. "Working with DataWave has facilitated our understanding of and entry into the prepaid market, an emerging market with exciting growth opportunities," said Rich Stillman, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Coinstar. "We are pleased that DataWave will participate in Coinstar's success in the prepaid market," said Josh Emanuel, chief executive officer of DataWave Systems. About Coinstar: Coinstar owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. The company has more than 10,000 machines linked by a sophisticated interactive network throughout 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. , as well as in Canada and the United Kingdom. About DataWave: DataWave has been an innovator and developer of prepaid and stored-value programs since it was founded in 1994. DataWave pioneered a system that allows for point-of-sale activation of high-value, high-shrinkage products, such as cash cards and phone cards. This system works equally well over the Internet, through intelligent freestanding vending machines vending machine, coin-operated, automatic device for selling goods. Many vending machines are capable of making change, and some of the more sophisticated ones accept paper money or credit cards. or with various card activation devices, including cash registers. DataWave Systems Inc. Marc L. Belsky CFO Legal Notice Regarding 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. : "This press release contains "forward-looking statements". Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding potential on going revenue streams from royalty payments on fees from certain prepaid product sales from Coinstar Centers. It is important to note that actual outcomes and the Company's actual results could differ materially from those contained in any forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties related to acceptance of present or future prepaid products, and the emergence of companies with competing or superior products. Although DataWave believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable; there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should also refer to the risk disclosures outlined in the Company's annual report and regulatory filings for the 2002 fiscal year filed from time-to-time with the TSX, BC Securities Commission and SEC." "The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release." |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion