UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14A
PROXY
STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE
ACT OF 1934
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o Preliminary
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o Definitive
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T Definitive
Additional Materials
o Soliciting
Material Under Rule 14a-12
USA
TECHNOLOGIES, INC.
|
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Charter)
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4) Date
Filed: December 3, 2009
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USA
Technologies, Inc. (the “Company”) issued the following press release on
December 3, 2009.
News
Release
For
Immediate Release
|
USA Technologies Contact:
George
Jensen, Chairman & CEO
Stephen
P. Herbert, President & COO
e-mail:
sherbert@usatech.com
Phone:
(800) 633-0340
|
Investor Relations Contact:
Marlon
Nurse, Vice President
Porter,
LeVay & Rose
Phone:
(212) 564-4700
|
USA
Technologies Ranked # 6 in US, # 34 Worldwide for
POS
Terminal Shipments for 2008
Malvern, PA, December 3, 2009 -- USA
Technologies, Inc. (NASDAQ: USAT) announced today that The Nilson Report,
Carpinteria, CA, a leading source of news and research on consumer payment
systems worldwide, has again ranked USA Technologies among the leading shippers
of point-of-sale (POS) terminals in the United States.
In a
front page article, the September 2009 Nilson Report states that USA
Technologies ranked 6th in POS shipments in the United States in 2008—matching
its 6th place ranking a year earlier—and 34th in the world.
“Despite
the global recession, we continued to ship ePort to new and existing customers
in the United States and Canada,” said George Jensen, Chairman and CEO, USA
Technologies. “Our cashless technology, especially designed for vending,
unattended POS, and kiosks, continues to be recognized alongside global giants
in the industry,” he said.
USA
Technologies was ranked 6th in the United States after worldwide giants
VeriFone, Ingenico, Hypercom, First Data/Link Point, and Way Systems. No direct
competitors of the USA Technologies in the beverage vending industry are listed
in the report.
“The
economy in the United States has never been more challenging, yet demand for our
innovative cashless solutions continues as our technology and services respond
to what the market wants—greater ease of use to increase consumer convenience,
lowering operational cost through improved efficiencies, while opening up new
market opportunities to fuel business growth,” said Mr. Jensen. “Over
the past 12 months we have seen our customer base grow to approximately 700
customers in the United States and abroad, with approximately 60,000 USALive
network cashless connections,” he said.
The ePort
solution offers cashless payment options, from traditional magnetic stripe, to
wireless contactless tap-and-go credit/debit cards, pre-paid solutions, and NFC
payment using a cellular phone.
The
Company recently announced an increase in the number of devices connected to the
USALive® Network to approximately 60,000. The Company also announced that it
projected 114,000 devices would be connected to its network by the end of
December 2010.
The
Company also announced that it expects to achieve positive net income in the
quarter ended December 31, 2010.
About USA
Technologies:
USA
Technologies is a leader in the networking of wireless non-cash transactions,
associated financial/network services and energy management. USA Technologies
provides networked credit card and other non-cash systems in the vending,
commercial laundry, hospitality and digital imaging industries. The Company has
agreements with AT&T, Visa, MasterCard, First Data, Compass and
others.
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, including without limitation the financial position, business strategy
and the plans and objectives of the Company's management for future operations,
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,
business, financial market and economic conditions, including but not limited
to, the ability of the Company to retain key customers from whom a significant
portion of its revenues is derived; the ability of the Company to compete with
its competitors to obtain market share; the ability of the Company to obtain
widespread commercial acceptance of it products; and the outcome
of the pending proxy contest. Readers are cautioned not to place
undue reliance on these forward-looking statements. Any forward-looking
statement made by us in this release 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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Important Additional
Information
USA
Technologies, Inc. (“USAT” or the “Company”) filed a definitive proxy statement
with the Securities and Exchange Commission (the “SEC”) on October 27, 2009 in
connection with the Annual Meeting of Shareholders to be held on December 15,
2009, and mailed the definitive proxy statement and a WHITE proxy card to
shareholders, as well as additional soliciting materials and a proxy statement
supplement dated December 2, 2009. USAT and its directors and executive officers
may be deemed to be participants in the solicitation of proxies in connection
with such meeting. The Company’s shareholders are strongly advised to read
USAT’s proxy statement and supplement as these documents contain important
information. Shareholders may obtain an additional copy of USAT’s
definitive proxy statement and supplement as well as any other documents filed
by the Company with the SEC for free at the SEC’s website at http://www.sec.gov.
Copies of the definitive proxy statement and supplement are available for free
at http://www.amstock.com/Proxy Services/ViewMaterial.asp?Co Number=14591. In
addition, copies of the Company’s proxy materials may be requested at no charge
by contacting MacKenzie Partners, Inc. at 1-800-322-2885 or via email at
USAT@mackenziepartners.com. Detailed information regarding the names,
affiliations and interests of individuals who are participants in the
solicitation of proxies of USAT’s shareholders is available in USAT’s definitive
proxy statement filed with SEC on October 27, 2009 and in USAT’s supplement to
proxy statement filed with the SEC on December 2, 2009.
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