AMERICAN TONERSERV SHUTS DOWN

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AMERICAN TONERSERV SHUTS DOWN

 user 2011-02-09 at 10:01:02 am Views: 45
  • #23980

    http://www.northbaybusinessjournal.com/28862/american-tonerserv-shuts-down/

    AMERICAN TONERSERV SHUTS DOWN
    Publicly
    traded American TonerServ has ceased operations, according to Dec. 30
    and Jan. 14 filings with the U.S. Securities & Exchange Commission.
    American TonerServ executives were not available for comment.Founded
    five years ago by former American Home Shield President Dan Brinker, the
    company acquired and provided back end services for small to medium
    toner cartridge supply and service providers across the country.
    AmericanTonerServ had acquired six independent suppliers in keeping with
    its strategy of integrating the used cartridge industry to compete with
    printer supply and service giants like Hewlett Packard and Lexmark.

    Acquisition
    of TonerType in Florida in 2008 gave the company a cartridge
    manufacturing operation.Traded on the Bulletin Board as ASVP, the
    company reported on  Nov. 22 that third-quarter revenue increased 10
    percent to $8.51 million from a year ago, but the quarterly net loss
    grew to $1.29 million from $1.03 million in the third quarter of 2009.
    At that time American TonerServ announced it was expanding its
    manufacturing operation in Florida.

    On Dec. 23, former TonerType
    owners filed a notice of default on Dec. 23 claiming $673,000 in
    outstanding principal and accrued interest. Another default notice,
    filed on Dec. 28 by  Celtic Capital Corporation, demanded immediate
    payment of $2,107,649 in principal, accrued interest, fees, costs and
    other expenses associated with a loan.American TonerServ was located in
    Rohnert Park. It had about a dozen employees a year ago, but had shifted
    most positions to Florida.

    http://www.northbaybusinessjournal.com/28862/american-tonerserv-shuts-down/