SOURCE: Impreso, Inc.

October 10, 2008 14:00 ET

Impreso Reports Settlement of Lawsuit Filed Against Asia Pulp & Paper Trading (USA), Inc.

COPPELL, TX--(Marketwire - October 10, 2008) - Impreso, Inc. (PINKSHEETS: ZCOM), which through its subsidiaries is involved in the manufacture and distribution of paper and imaging products for commercial and home office applications, the development of eCommerce initiatives, and natural spring water bottling and distribution, today announced it settled a lawsuit filed with Asia Pulp & Paper Trading (USA), Inc. ("APPT").

On September 18, 2002, Impreso, Inc. filed a lawsuit against APPT in the United States District Court for the Northern District of Texas - Dallas Division. APPT asserted counterclaims seeking recovery of disputed accounts receivable. The trial was set for October 6, 2008, in the 95th Judicial District Court, Dallas County, Dallas, Texas.

The settlement of the lawsuit with APPT disposes all parties and all claims. Impreso, Inc. will pay APPT $1.5 million over the period of one year. Impreso, Inc. has approximately $5.4 million in liabilities associated with APPT. As a result of the settlement, Impreso, Inc. expects to recognize a gain of $3.2 million in the current quarter. Impreso, Inc. has approximately $4.2 million in loss carry forwards, to offset the gain.

"Resolving the case, allows the Company to focus on our business," said Marshall Sorokwasz, President and Chief Executive Officer of Impreso, Inc.

About Impreso, Inc.

Impreso, Inc. is a holding company for TST/Impreso, Inc., Alexa Springs, Inc., and HotSheet.com, Inc. TST/Impreso, Inc. is a manufacturer and distributor of hard copy imaging products for commercial and home use in domestic and international markets. HotSheet.com, Inc. primarily owns HotSheet.com, a single-page, online Internet directory with categorized links to premier web destinations. Alexa Springs, Inc. is a natural spring water bottling operation. The Company's website domains are www.impreso.com, www.tstimpreso.com, www.alexasprings.com, and www.hotsheet.com.

Impreso, Inc. is headquartered in Coppell, Texas, and its common stock trades on the PinkSheets under the symbol "ZCOM."

This press release may include statements that constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, paper prices and raw material costs, dependence upon third-party vendors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For further information, please contact: Marshall Sorokwasz at (972) 462- 0100 (ext. 1103) or Tammy Yahiel, General Counsel at (972) 462-0100 (ext. 1117) or via e-mail at yahiel@tstimpreso.com

Contact Information

  • Contact:
    Marshall Sorokwasz
    (972) 462-0100 (ext. 1103)
    Tammy Yahiel
    General Counsel
    (972) 462-0100 (ext. 1117)
    Email Contact