Exhibit 99.1
------------
CONTACT: Leonard Carr
Sr. Vice President
713-783-8200
lcarr@tidelmail.com
FOR IMMEDIATE RELEASE
TIDEL CONTINUES NEGOTIATIONS WITH DEBENTURE HOLDERS
HOUSTON, Texas -- August 28, 2001 -- Tidel Technologies, Inc. (Nasdaq: ATMS)
announced today that it did not make the payment in the amount of $18 million
principal, plus accrued interest, which was due yesterday pursuant to its 6%
Subordinated Convertible Debentures. The Company reported that negotiations are
continuing with the holders of the Debentures with respect to such payment.
Tidel Technologies, Inc. is one of the nation's leading manufacturers of
automated teller machines and cash security equipment designed for specialty
retail marketers. More information about the company and its products may be
found on the Internet at www.tidel.com.
"SAFE HARBOR" DISCLAIMER UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS, INCLUDING
STATEMENTS AS TO ANTICIPATED OR EXPECTED RESULTS, BELIEFS, OPINIONS, AND FUTURE
FINANCIAL PERFORMANCE. THE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT
EXPECTATIONS AND ASSUMPTIONS AND INVOLVE RISKS AND UNCERTAINTIES THAT MAY CAUSE
THE COMPANY'S ACTUAL EXPERIENCE TO DIFFER MATERIALLY FROM THAT ANTICIPATED.
ESTIMATES ARE BASED ON RELIABLE INFORMATION AND PAST EXPERIENCE. HOWEVER,
OPERATING RESULTS ARE AFFECTED BY A WIDE VARIETY OF FACTORS, MANY OF WHICH ARE
BEYOND THE CONTROL OF THE COMPANY. FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THE
LEVELS OF ORDERS WHICH ARE RECEIVED AND CAN BE SHIPPED IN A QUARTER; CUSTOMER
ORDER PATTERNS AND SEASONALITY; COSTS OF LABOR, RAW MATERIALS, SUPPLIES AND
EQUIPMENT; TECHNOLOGICAL CHANGES; COMPETITION AND COMPETITIVE PRESSURES ON
PRICING; AND ECONOMIC CONDITIONS IN THE UNITED STATES AND WORLDWIDE.
ADDITIONALLY, FACTORS AND RISKS AFFECTING OPERATING RESULTS INCLUDE THOSE
DESCRIBED IN THE COMPANY'S REGISTRATION STATEMENTS AND PERIODIC REPORTS FILED
WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION.
# # #
