Syscan Imaging, Inc. Announces $2,500,000 Credit Facility With Cathay Bank
03 Novembre 2005 - 2:30PM
PR Newswire (US)
SAN JOSE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Syscan Imaging,
Inc., (OTC:SYII) (BULLETIN BOARD: SYII) , the world leader in USB
powered portable image scanners and developer of HDTV technology
solutions, announced today the signing of a new credit facility
with Cathay Bank, replacing its previous facility. Cathay Bank, a
subsidiary of Cathay General Bancorp has agreed to provide Syscan
Imaging, Inc. with a working credit facility of $2,500,000. This
replaces the company's previous $1,000,000 credit facility which
has been utilized by the Company in varying amounts from time to
time for general operating purposes since 2003. "We are happy to
have Cathay Bank as a partner and look forward to growing with
them," said Darwin Hu, Chairman and Chief Executive Officer of
Syscan Imaging, "With the recent and continued expansion of both
our image scanning and HDTV technology businesses this additional
flexibility will be very helpful." "Syscan Imaging is in a unique
period of expansion and we believe the company has great potential,
we look forward to supporting their growth," Said Jane Ho, First
Vice President Corporate Lending, of Cathay Bank. About Syscan
Imaging, Inc. Syscan Imaging, Inc. designs and manufactures imaging
technology solutions for a worldwide customer base. The company
currently manufactures and delivers 20 plus proprietary mobile
image-scanning products, which has allowed it to become the largest
OEM -- private label manufacturer of USB driven mobile scanning
systems in the world. Syscan Imaging's intellectual property
portfolio in the imaging area consists of 20 patents with an
additional 4 patents pending. Recognizing the potential to leverage
its years of imaging technology experience and manufacturing
efficiencies Syscan began developing new technologies targeted
towards the HDTV display market under SysView Technologies, Inc.
These products are in various stages of development and are
expected to begin reaching the marketplace in 2006. The products
are designed to significantly enhance picture quality, decrease
power consumption, and greatly reduce the manufacturing costs
associated with High Definition televisions. All trademarks and
copyrights contained herein are the property of their respective
holders. Note on Forward-Looking Statements: Statements contained
in this press release, which are not historical facts, are
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based largely on current expectations and are
subject to a number of known and unknown risks, uncertainties and
other factors beyond our control that could cause actual events and
results to differ materially from these statements. These
statements are not guarantees of future performance, and readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Syscan
undertakes no obligation to update publicly any forward-looking
statements. DATASOURCE: Syscan Imaging, Inc. CONTACT: David P.
Clark of Syscan Imaging, Inc., +1-408-436-9888, Ext. 200
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