|By Business Wire||
|April 16, 2013 07:31 AM EDT||
USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced that it has renewed and increased its working capital line of credit with Avidbank Corporate Finance (“Avidbank”). The agreement increases the amount available under the credit line from $3 million to up to $5 million, and renews the credit line for another twelve month period.
“We are pleased that we were able to leverage our relationship with Avidbank in establishing this expanded agreement,” said USAT’s Chief Financial Officer, David M. DeMedio. ”Our expanded credit line will provide USAT with an important source of non-dilutive capital to fund growth, as well as other working capital needs. Increasing our access to flexible capital through a credit line, in conjunction with the improvements we have made in generating cash from our operations over the last year, are important elements in executing our growth platforms and increasing shareholder value.”
Avidbank Executive Vice President, Mike Hansen, stated, “Avidbank seeks companies that have demonstrated solid fundamentals within a market that offers great potential. USAT’s improved financial performance over the last year and their prospects for growth as a leader in their market warranted this expanded agreement. We look forward to a continued, successful working partnership."
Avidbank Holdings, Inc., headquartered in Palo Alto, California offers innovative financial solutions and services and specializes in commercial & industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing. Avidbank advances the success of its clients by providing them with financial opportunities and serving them as we wish to be served – with mutual effort, ingenuity and trust – creating long-term banking relationships.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G8, ePort Mobile™ for customers on the go, and QuickConnect™, an API Web service for developers. USA Technologies has been granted 85 patents; and has agreements with Verizon, Visa, Elavon, Isis and major customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.
"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 USAT’s anticipated growth and business strategy, 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, whether USAT's existing or anticipated customers purchase, rent or utilize ePort devices or our other products and services in the future at levels currently anticipated by USAT, including appropriate diversification resulting from products and programs other than our Jumpstart Program; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; whether USAT's customers would continue to add additional connections to our network in the future at levels currently anticipated by USAT; the ability of USAT to compete with its competitors to obtain market share; whether USAT's customers continue to utilize USAT's transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days' notice; the ability of USAT to obtain widespread commercial acceptance of its products; and the incurrence by us of any unanticipated or unusual non-operational expenses, such as in connection with a proxy contest, which would require us to divert our cash resources from achieving our business plan or, in the alternative, increase our cash resources through, among other things, the sale of our securities. 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.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Apr. 29, 2016 05:45 AM EDT Reads: 2,387
With DevOps becoming more well-known and established practice in nearly every industry that delivers software, it is important to continually reassess its efficacy. This week’s top 10 includes a discussion on how the quick uptake of DevOps adoption in the enterprise has posed some serious challenges. Additionally, organizations who have taken the DevOps plunge must find ways to find, hire and keep their DevOps talent in order to keep the machine running smoothly.
Apr. 29, 2016 04:30 AM EDT Reads: 1,312
Call it DevOps or not, if you are concerned about releasing more code faster and at a higher quality, the resulting software delivery chain and process will look and smell like DevOps. But for existing development teams, no matter what the velocity objective is, getting from here to there is not something that can be done without a plan. Moving your release cadence from months to weeks is not just about learning Agile practices and getting some automation tools. It involves people, tooling and ...
Apr. 29, 2016 03:45 AM EDT Reads: 1,448
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at 18th Cloud Expo, Charles Kendrick, CTO & Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and devel...
Apr. 29, 2016 03:45 AM EDT Reads: 1,633
The notion of customer journeys, of course, are central to the digital marketer’s playbook. Clearly, enterprises should focus their digital efforts on such journeys, as they represent customer interactions over time. But making customer journeys the centerpiece of the enterprise architecture, however, leaves more questions than answers. The challenge arises when EAs consider the context of the customer journey in the overall architecture as well as the architectural elements that make up each...
Apr. 29, 2016 02:30 AM EDT Reads: 1,873
APIs have taken the world by storm in recent years. The use of APIs has gone beyond just traditional "software" companies, to companies and organizations across industries using APIs to share information and power their applications. For some organizations, APIs are the biggest revenue drivers. For example, Salesforce generates nearly 50% of annual revenue through APIs. In other cases, APIs can increase a business's footprint and initiate collaboration. Netflix, for example, reported over 5 bi...
Apr. 28, 2016 09:45 PM EDT Reads: 2,506
As the software delivery industry continues to evolve and mature, the challenge of managing the growing list of the tools and processes becomes more daunting every day. Today, Application Lifecycle Management (ALM) platforms are proving most valuable by providing the governance, management and coordination for every stage of development, deployment and release. Recently, I spoke with Madison Moore at SD Times about the changing market and where ALM is headed.
Apr. 28, 2016 09:30 PM EDT Reads: 1,359
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Apr. 28, 2016 08:45 PM EDT Reads: 1,718
These days I mostly make my living as a consultant. Consultants in general are probably not the best loved group in the world. It is common to think of consultants wafting-in to your organization, telling you things that you already know and advising you to “change your culture”, whatever that means. Subsequently they depart, no-doubt with a fat fee, and leave you as you were before with the same problems and no progress made.
Apr. 28, 2016 08:00 PM EDT Reads: 1,421
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
Apr. 28, 2016 07:30 PM EDT Reads: 1,957
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
Apr. 28, 2016 07:30 PM EDT Reads: 1,762
New Relic, Inc. has announced a set of new features across the New Relic Software Analytics Cloud that offer IT operations teams increased visibility, and the ability to diagnose and resolve performance problems quickly. The new features further IT operations teams’ ability to leverage data and analytics, as well as drive collaboration and a common, shared understanding between teams. Software teams are under pressure to resolve performance issues quickly and improve availability, as the comple...
Apr. 28, 2016 07:15 PM EDT Reads: 2,367
The goal of any tech business worth its salt is to provide the best product or service to its clients in the most efficient and cost-effective way possible. This is just as true in the development of software products as it is in other product design services. Microservices, an app architecture style that leans mostly on independent, self-contained programs, are quickly becoming the new norm, so to speak. With this change comes a declining reliance on older SOAs like COBRA, a push toward more s...
Apr. 28, 2016 07:00 PM EDT Reads: 1,213
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
Apr. 28, 2016 04:45 PM EDT Reads: 1,724
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 28, 2016 04:30 PM EDT Reads: 1,617
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Apr. 28, 2016 04:00 PM EDT Reads: 1,638
Digital means customer preferences and behavior are driving enterprise technology decisions to be sure, but let’s not forget our employees. After all, when we say customer, we mean customer writ large, including partners, supply chain participants, and yes, those salaried denizens whose daily labor forms the cornerstone of the enterprise. While your customers bask in the warm rays of your digital efforts, are your employees toiling away in the dark recesses of your enterprise, pecking data into...
Apr. 28, 2016 02:15 PM EDT Reads: 807
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Apr. 28, 2016 12:45 PM EDT Reads: 1,450
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Apr. 28, 2016 11:30 AM EDT Reads: 2,175
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
Apr. 28, 2016 11:00 AM EDT Reads: 1,394