SOURCE: American TonerServ Corp.

August 14, 2007 09:22 ET

American TonerServ and Optima Reach Agreement to Allow for Future Synergies in Florida Market

SANTA ROSA, CA--(Marketwire - August 14, 2007) - American TonerServ Corp. ("ATS" or the "Company") (OTCBB: ASVP) announced it has entered into a letter agreement with Azaria Management Group, L.L.C. (formerly named "Optima Technologies, LLC") ("AMG") that will allow for future synergies in the Florida market by providing ATS the ability to opt out of the existing management agreement with AMG.

Dan Brinker, CEO of American TonerServ, stated, "The option to vacate the management agreement provides ATS with greater flexibility, allowing ATS to realize future synergies with potential acquisitions in the Florida market. This is a positive event for both ATS and AMG. With our planned acquisition of Tonertype (which serves the same market as our Optima operations) we will have combined annualized revenues of approximately $9 million in the greater Tampa Bay market alone, thus increasing our operational efficiencies and breadth of services to our customers in this market."

Steve Jensen, CEO & Founder of AMG and current board member of ATS, stated, "This agreement should prove valuable to ATS as it looks to expand its presence in Florida with future acquisitions. There are significant cost synergies and operating efficiencies which could be realized with future acquisitions in close proximity to existing operations of ATS."

The Company has filed a Form 8-K with the Securities and Exchange Commission concerning the letter agreement with AMG. The Form 8-K provides additional information about the option to terminate and other matters covered by the letter agreement.

About American TonerServ:

American TonerServ Corp. ("ATS"), a publicly traded Delaware corporation (OTCBB: ASVP) is a disciplined consolidator in the highly fragmented printer supplies & services industry. It's looking to acquire and unite independent businesses focused on delivering printer supplies and service to end-customers. ATS offers thousands of customers a one-stop shop for their print management needs by providing equipment, supplies and service for printers, multi-function printers (MFPs), copiers and fax machines.

ATS has developed a very attractive and scalable platform for the estimated 5,000 independent companies providing printer equipment, supplies and service nationwide. In addition to providing the critical back-office component to these companies, sharing "best practices" and creating a "community" atmosphere of the acquired companies is an attractive attribute of their model.

Forward-Looking Statements

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact:
    American TonerServ Corp.
    475 Aviation Blvd.
    Suite 100
    Santa Rosa, CA 95403
    United States
    Phone: 800-736-3515