ATMS Trading higher at 2 5/8 on this release...looks very interesting...
Tidel Inks Contract to Sell Internet Transaction
Machines; Cash Tech Selects 'Chameleon' Product for
its E-Commerce Solutions
HOUSTON, April 26 /PRNewswire/ -- Tidel Technologies, Inc. (Nasdaq: ATMS - news) announced today that it has
finalized a contract to sell Chameleon Internet Transaction Machines (''ITM'') to Los Angeles-based Cash Technologies, Inc.
(Nasdaq: CHNG - news). The initial term of the contract is two years with provisions for successive one-year renewals. The
contract provides for specific pricing, with a schedule of quantities to be developed by the two companies.
According to Bruce Korman, Cash Tech's Chairman and CEO, ''We have selected the Chameleon as the initial hardware
platform for our multifunction ATM-X(TM)automated teller machine. The Chameleon's state-of-the-art Windows Open
Systems Architecture (''WOSA'') operating system and multimedia capabilities makes it an ideal hardware solution for our
ATM-X client software. ATM-X will offer sophisticated services such as real-time activated prepaid phone cards, electronic
bill payment, check cashing and event ticketing.'' Korman indicated that Cash Tech could deploy as many as 2,000 units during
the initial contract period.
Mark Levenick, COO of Tidel, added, ''We are very excited to partner with Cash Tech and believe they are positioning
themselves to become a leader in the development of self-service e-commerce applications. With the selection of Tidel's
Chameleon to function as the heart of their new system, ATM-X will break new ground in ATM functionality. Looking ahead,
we intend to grow our relationship with Cash Technologies to provide future joint e-commerce solutions.''
Tidel's Chameleon ITM is an interactive multimedia kiosk that combines traditional banking functionality with support for the
limitless e-commerce options of the Internet. The new product begins limited shipments next week.
About Cash Technologies
Cash Technologies, Inc. develops and markets innovative e-commerce kiosks and systems. The company also provides
computerized cash processing services to institutions and cash-intensive businesses and can be found at
www.cashtechnologies.com.
About Tidel
Tidel Technologies, Inc. is a Texas-based manufacturer of automated teller machines and cash security equipment designed for
specialty retail marketers. Tidel pioneered the dial-up ATM in 1992, and is the fastest growing major U.S. manufacturer of
ATMs.
This press release contains forward-looking statements that involve risks and uncertainties that may cause the company's actual
experience to differ materially from that anticipated. These forward-looking statements include projections of revenue and net
income; issues that may affect revenue or net income; plans for the future; and assumptions relating to the foregoing. Estimates
are based on reliable information and past experience. However, operating results are affected by a wide variety of factors,
many of which are beyond the control of the company. Factors include, but are not limited to, the levels of orders which are
received and can be shipped in a quarter; customer order patterns and seasonality; costs of labor, raw materials, supplies and
equipment; technological changes; competition and competitive pressures on pricing; and economic conditions in the United
States and worldwide. Additionally, factors and risks affecting operating results include those described in the company's
registration statements and periodic reports filed with the U.S. Securities and Exchange Commission.
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