IDTec Completes First Round of Financing
VISTA, Calif., Oct. 9 /PRNewswire/ -- International Digital Technology, Inc. (OTC Bulletin Board: IDTX - news), a leading
designer, integrator and marketer of sophisticated wide-format digital printing software systems, announces the completion of its initial round of financing to fund the first phase of the Company's business plan and to satisfy outstanding claims and obligations.
With the recent infusion of $600,000 from the exercise of warrants by a private investor to purchase 600,000 shares of stock, the company has raised approximately $1.9 million since first becoming publicly traded in July of 1998.
Aggressively pursuing opportunities in the rapidly growing wide-format printing business, IDTec will be displaying its print technology at several business opportunity shows throughout North America and Europe during October, November and December.
About International Digital Technology (IDTec)
IDTec offers customers a one-stop wide format, print management system. The company integrates computers, wide format ink-jet printing and scanner equipment, with IDTec's proprietary wide format, one-time scan and print, digital color management software known as RapidColor Rip Software.
The result is an integrated system that provides a ''plug and play'' wide format print solution that allows one-step digital
scanning and fast printing on surfaces up to 60'' wide and almost any length.
The company's management and sales force is among the most experienced in the industry and has sold over 2,000 wide format printers, or nearly 10% of the total installed base in the United States.
Certain information included in this communication (as well as information included in oral statements or other written
statements made or to be made by International Digital Technology) contains statements that are forward looking, such as statements relating to the future anticipated direction of the wide-format printing industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
SOURCE: International Digital Technology, Inc.
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