YARC AGAIN- CAMARILLO, Calif.--(BUSINESS WIRE)--Dec. 15, 1999--YARC Systems
Corp. (OTCBB:YARC) today announced that, upon completion of the
initial $10 million credit facility, an additional $25 million
line of credit has been pledged by its lender.
This will enable YARC to shift its focus toward the acquisition
of larger companies, such as those trading on the Nasdaq Small Cap and
Nasdaq National Market exchanges.
This additional line may be drawn down upon approval by the
lender of specific merger and acquisition opportunities.
YARC is continuing to identify companies that have bottom lines
which can be quickly improved by the injection of YARC's LINUX,
Internet and Postscript expertise.
YARC is currently engaged in exploratory negotiations with one
such company.
About YARC (http://www.yarc.com/)
YARC has developed proprietary LINUX software that integrates
printing technologies with the Internet and Internet browsers. YARC's
proprietary version of Adobe Systems' "PostScript" Printer Description
Language (PDL) is used to transfer images from a computer, over a
network such as the Internet, to a printing engine. YARC is the only
company shipping Internet-enabled LINUX Color Servers for the printing
industry.
YARC has placed one of its LINUX Color Servers on the Internet at
yarcxp.com.
YARC's E-Commerce Server is at secureshop.yarcrip.com.
At this date, YARC Systems has 20,448,021 shares of common stock
issued and outstanding. The number of shares in the public float is
just over 12 million. YARC officers and management own 34 percent of
the issued and outstanding common stock.
The above totals include the shares being used to acquire Quality
Photographic Imaging. There have been delays in the filing of this
merger with the state of California brought about by incorrect
processing of the 1987 merger that created QPI.
DISCLAIMERS:
Forward-Looking Statements: Certain of the above statements may
be forward-looking statements that involve risks and uncertainties. In
such instances, actual results could differ materially as a result of
a variety of factors, including competitive developments, lack of
adequate financing, and other risk factors listed from time to time in
the company's disclosure statements and/or Securities and Exchange
Commission reports. Such statements are protected under the Safe
Harbor provisions of the securities regulations.
Note to Editors: All trademarks are the property of their
respective owners.
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CONTACT: YARC Systems Corp.
Philippe Niemetz, 800/477-7570 (investor relations)
212/344-6464
wphconsultants@msn.com
or
Media Relations, 800/800-YARC
805/482-5209 fax
press@yarc.com
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