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| 8-K - DOCUMENT CAPTURE TECHNOLOGIES, INC. | v196820_8k.htm |
Press
release dated September 14, 2010
Document
Capture Board Announces $2.5 Million Stock Repurchase Program
Buy-Back
Initiative Represents 14% of Current Shares Outstanding at September 13th
Closing Price
SAN JOSE,
CA--( 09/14/10) - Document Capture Technologies, Inc. (OTCBB:DCMT), an IP-driven
leader in the design, development, manufacture and sale of advanced imaging
technologies, today announced that the Board of Directors has authorized a $2.5
million Share Repurchase Program (the "Program") of the Company's common
stock.
"The
Company's Board of Directors has made this decision to further enhance our
ongoing mandate of delivering exceptional shareholder value," said David P.
Clark, Chief Executive Officer of Document Capture. "Given the Company's
impressive progress to date, recent growth initiatives, the Board believes that
the shares at current price levels remain undervalued."
The
shares will be purchased from time to time at prevailing market prices, through
open market or unsolicited negotiated transactions, depending upon market
conditions, in accordance with Rule 10b-18 of the Securities Exchange Act of
1934, as amended. There is no guarantee as to the exact number of shares that
will be repurchased by the Company, and the Company may discontinue purchases at
any time that the Board of Directors determines additional purchases are not
warranted. The Company currently has working capital of approximately $6.8
million.
Document
Capture's patented technology provides high quality images at extremely low
power consumption levels in a compact package. DCT also provides a comprehensive
suite of proprietary software development tools that support and facilitate the
accelerated integration of their document capture products with new and existing
applications. These products are simple to use and interface with any computing
device where there is need for a small footprint, lightweight scanner. DCT's
standard software supports drivers for Windows7/Vista/XP, Windows CE, Linux and
MAC OS's.
About
Document Capture Technologies
Document
Capture Technologies (OTCBB:DCMT) is a worldwide
leader in the design, development, manufacturing, and sale of USB powered mobile
page-fed document capture platforms. DCMT provides more than 30 different
products across five distinct categories, which are distributed globally through
private label solutions to leading Tier 1 OEMs, VARs and other system
integrators, including NCR, Qualcomm, Burroughs and Brother.
For
additional information, please see Document Capture Technologies' corporate
website: www.docucap.com.
This
press release is neither an offer to sell nor the solicitation of an offer to
buy any securities of DCMT.
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 the Company's control that could
cause actual events and results to differ materially from these statements.
These risks include, without limitation, that there can be no assurance that any
strategic opportunities will be available to the Company and that any strategic
opportunities may only be available on terms not acceptable to the Company.
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. DCMT undertakes no obligation to
update publicly any forward-looking statements.
Contact:
Company
Contact:
Document
Capture Technologies, Inc.
David P.
Clark
CEO
408-213-3701