GPT Forms eCash Management Pty. Ltd. Which Holds the Exclusive Distribution Rights for ATM Hardware and Software.Business Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--June 14, 2002 Global Payment Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Symbol: GPTX) ("GPT GPT glutamic-pyruvic transaminase; see alanine transaminase. GPT abbr. glutamic-pyruvic transaminase GPT glutamic-pyruvic transaminase. "), a leading manufacturer and innovator of currency acceptance systems used in the worldwide gaming, beverage, and vending industries announced today the formation of eCash Management Pty. Ltd. ("eCash"). This Australian company was formed in conjunction with two additional shareholders to market, distribute, service, and support ATM's across Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . eCash has entered into an agreement with Hyosung Corporation, a leading ATM manufacturer and designer based in Korea, to be the exclusive distributor of low cost, mini ATM's throughout the two countries. Further, eCash is developing value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. applications that are intended to increase ATM functionality for end users. Richard Soussa, a Director of eCash, said, "We are pleased to announce our distributorship for Hyosung's new mini ATM. Shipping for the product has already begun, and as expected, the reception to its price and performance has been excellent. Currently Australia and New Zealand has as many as 10,000 retail shops which could use eCash's product to potentially increase their business as well as enhance their customer loyalty." Stephen Katz
Stephen Katz (1946 in New York City – 18 October, 2005 in Plano, Texas) was an American teacher and screenwriter. , Chairman of GPT commented, "eCash is yet another step designed to provide Global Payment Technologies with long term opportunities by providing solutions for both cash and non-cash transactions while generating immediate revenue and profit, all of which is consistent with our vision of creating a worldwide company able to process cash and noncash transactions globally. GPT owns 35% of the new venture which we expect to be profitable during the current quarter." About Global Payment Technologies, Inc. Global Payment Technologies, Inc. is a United States-based designer, manufacturer, and marketer of automated currency acceptance and validation systems used to receive and authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. currencies in a variety of payment applications worldwide. GPT's proprietary and patented technologies are among the most advanced in the industry. Please visit the GPT web site for more information at http://www.gpt.com. Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements 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 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: the risks that GPT's current and future products may contain errors or defects that would be difficult and costly to detect and correct; dependence on the paper currency validator market and its potential vulnerability to technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; possible risks of product inventory obsolescence; potential difficulties in manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. ; potential shortages of key parts and/or raw materials; potential difficulties in managing growth; dependence on a limited base of customers for a significant portion of sales; dependence on key personnel; the possible impact of competitive products and pricing; and other risks described in more detail in Securities and Exchange Commission filings. |
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