USA Technologies Issues Statement Regarding Absurd "Endorsement" of S.A.V.E. by James Stuckert
MALVERN, PA, June 25, 2012 - USA Technologies, Inc. (NASDAQ: USAT) ("USAT" or the "Company"), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retailing industries, today issued the following statement regarding James W. Stuckert's "endorsement" publicized by S.A.V.E.:
In a testament to the S.A.V.E. group's desperation, in a June 25, 2012, announcement regarding James Stuckert's supposed "endorsement," Mr. Stuckert was positioned as an independent shareholder. However, Stuckert is in fact a member of S.A.V.E. and any "endorsement" from him brings new meaning to the term "self-serving."
USAT shareholders are reminded that their vote is important, no matter how many shares they own. With the annual meeting days away, time is of the essence and the Company recommends shareholders to vote today by Internet or telephone. The Company encourages shareholders NOT to return or otherwise vote any proxy card sent by S.A.V.E.
Shareholders with questions, require assistance in voting shares, or need additional copies of USAT's proxy materials, please call MacKenzie Partners at the phone numbers listed below.
MacKenzie Partners, Inc.
105 Madison Avenue
New York, NY 10016
(212) 929-5500 (call collect)
TOLL-FREE (800) 322-2885
"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, anticipated connections to our network, 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 USAT or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of USAT's management, as well as assumptions made by and information currently available to USAT'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 USAT to retain key customers from whom a significant portion of its revenues is derived; the costs and management distractions attendant to Mr. Tirpak's nomination of himself and six other candidates as director nominees at the 2012 annual meeting of shareholders; the outcome of the proxy contest and related litigation; whether the actions of our former CEO which resulted in his separation from USAT or the Securities and Exchange Commission's investigation would have a material adverse effect on the future financial results or condition of USAT; the ability of USAT to compete with its competitors to obtain market share; the ability of USAT to obtain widespread commercial acceptance of it products; and whether USAT's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by USAT. 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, USAT 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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