Syscan Imaging, Inc. Announces Increase in Credit Facility With Far East National Bank
August 23 2004 - 11:29AM
PR Newswire (US)
Syscan Imaging, Inc. Announces Increase in Credit Facility With Far
East National Bank SAN JOSE, Calif., Aug. 23 /PRNewswire-FirstCall/
-- Syscan Imaging, Inc. (OTC:SYII) (BULLETIN BOARD: SYII) , a
leading OEM and private label manufacturer of mobile image scanning
systems, today announced the increase of its credit facility with
Far East National Bank. Far East National Bank has agreed to
increase Syscan Imaging, Inc.'s available credit facility from
$500,000 to $1,000,000, all other terms of the credit facility
remain unchanged. The original facility was established in December
of 2003 and has been utilized by the Company in varying amounts
from time to time for general operating purposes. "We are very
pleased to expand our relationship with Far East National Bank",
said Darwin Hu, Chairman and Chief Executive Officer of SYII, "This
additional flexibility will assist us in growing our business in
the future." "Syscan has established a strong banking relationship
with Far East National Bank over the past several years. We believe
the company has great potential and we will continue to support
their growth," said Charles Tzeng, First Vice President of Far East
National Bank. About Far East National Bank Headquartered in Los
Angeles, Far East National Bank has 15 offices throughout
California plus facilities in Shanghai, Beijing, Hong Kong, Taipei
and a full-service branch opening soon in Ho Chi Minh City,
Vietnam, making it the only California-based bank and only the
third U.S. bank to currently have a branch in Vietnam. Its
customers have access to worldwide services through its
relationship with SinoPac Holdings, a fully integrated financial
network with more than $18 billion in assets and 140 locations
worldwide. About Syscan Imaging, Inc. Headquartered in San Jose,
California with additional offices in the Netherlands and Hong
Kong, Syscan Imaging, Inc. designs and manufactures imaging
technology solutions. Currently the Company ships proprietary
image-scanning products to customers throughout the United States,
Canada, Europe, South America, Australia and Asia. The Company has
been granted 21 patents related to imaging technology with an
additional 13 patents under review. Syscan Imaging, Inc.'s common
stock is publicly traded on the OTC Bulletin Board under the symbol
SYII. 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: Dave Clark, +1-631-396-3950, for Syscan
Imaging, Inc.
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