USA Technologies Extends Employment Agreements with Executive Management Team
Apr 20, 2011 (Close-Up Media via COMTEX) --
USA Technologies, a provider of wireless, small-ticket cashless transactions, announced the extension of employment agreements for the company's executive leadership team.
Employment agreements for George Jensen, Jr., Chairman and CEO, Stephen Herbert, President and COO, and David DeMedio, CFO, have been extended through June 2014.
The leadership team that has driven USA Technologies' growth and success throughout the economic downturn and positioned the company to capitalize on the growing wireless, small-ticket, cashless payment industry will continue to lead the company.
Pursuant to its processing agreements with its customers, the company earns transaction processing fees equal to a percentage of the dollar volume processed by the company, which are included as licensing and transaction processing revenues in its statement of operations. The company's transaction processing volume is not necessarily indicative of the gross profit or any other financial results of the company. The company's financial results for the quarter and nine months ended March 31, will be reported in the company's Form 10-Q which the company anticipates filing with the Securities and Exchange Commission by no later than May 13.
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