USA Technologies, Inc. Announces Receipt of Nasdaq Notice
The notice provides that the Company has until
The notification of noncompliance has no immediate effect on the listing
or trading of the Company’s common stock or preferred stock, and the
common stock and preferred stock will continue to trade on the
As previously announced and as reported by the Company in its Form
12b-25 filed with the
About
Forward-looking Statements:
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release are forward-looking statements. When used in this release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” and similar expressions, as they relate to the Company or its management, identify forward looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, uncertainty as to the scope, timing and ultimate findings of the internal investigation; the costs and expenses relating thereto; the impact of the internal investigation on the Company, its management and operations, including potential financial impact on the Company; the risk of litigation or regulatory action arising from the internal investigation and its findings or from the failure to timely file the Annual Report; the ability of the Company to regain and maintain compliance with Nasdaq’s continued listing requirements; the timing of the review by, and the conclusions of, the Company’s independent auditor regarding the investigation and its impact on the financial statements; possible default by the Company under its credit facility; the potential identification of control deficiencies, including potential material weaknesses in internal control over financial reporting and the impact of the same; potential reputational damage that the Company may suffer as a result of the matters under investigation; and the impact of the pendency of the investigation on the value of the Company’s common and preferred stock. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.
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Source:
Media:
Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch
/ Meaghan Repko
212-355-4449
or
Investors:
Blueshirt
Group
Monica Gould, +1 212-871-3927
monica@blueshirtgroup.com