EXHIBIT 99.1
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WEDNESDAY DECEMBER 13, 8:31 AM EASTERN TIME
PRESS RELEASE
SOURCE: Imaging Technologies Corporation
IMAGING TECHNOLOGIES FINALIZES $850,000 DEBENTURE TO ASSIST IN SHORT-TERM
CAPITAL REQUIREMENTS
SAN DIEGO, Dec. 13 /PRNewswire/ -- Imaging Technologies Corporation (OTC
Bulletin Board: ITEC - news), a pioneer in the development of digital imaging
solutions, today announced finalization of a $850,000 debenture, convertible
into common stock at the option of the debenture holders, which will assist the
Company's short-term working capital requirements.
"We are pleased that this allows us to move forward with our aggressive business
strategy to introduce ITEC products worldwide and establish an e-commerce
presence for our companies," said Brian Bonar, ITEC CEO.
About Imaging Technologies Corporation
Imaging Technologies Corporation (OTC Bulletin Board: ITEC - news) is a
worldwide pioneer in the development, manufacturing, licensing and distribution
of high- quality digital imaging solutions. Founded in 1982 and headquartered in
San Diego, California, the Company produces imaging products for diverse market
segments. Beginning with a core technology in the design and development of
Adobe(R) PostScript(R) controllers for non-impact printers and multifunction
peripherals, the Company has expanded its product offerings to include
monochrome and color printers, printer controllers, external print servers, and
software to improve the accuracy of color reproduction. Information on the
Company is available at the ITEC Web site at www.itec.net
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements and
are subject to numerous risks and uncertainties, including the failure to
complete successfully the development of new or enhanced products, the Company's
future capital needs, the lack of market demand for any new or enhanced products
the Company may develop, any actions by the Company's partners that may be
adverse to the Company, the success of competitive products, other economic
factors affecting the Company and its markets, seasonal changes, and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. The actual results may differ materially from those
contained in this press release. The Company disclaims any obligation to update
any statements in this press release.
