Science & Technology
Science and Technology
Science and Technology
Mon, January 19, 2009
Sat, January 17, 2009
Fri, January 16, 2009 Document Capture Engages New Accounting Firm
SAN JOSE, Calif.--([ BUSINESS WIRE ])--Document Capture Technologies, Inc. (OTCBB:DCMT), an IP driven worldwide leader in the design, development, manufacture and sale of USB-powered mobile page-fed document scanners for OEM's, VAR's and system integrators, today announced the engagement of Hein & Associates LLP as the Company's new independent accountants.
The Board of Directors unanimously approved the appointment. Hein & Associates is an accounting and consulting firm that assists clients with SEC regulatory filings, tax compliance, auditing, and accounting.
"With the anticipated growth of DCT, we believe that Hein & Associates is the best firm to assist us as we manage our corporate expansion," said David Clark, Chief Executive Officer. "As regulatory and accounting requirements become more complex, we believe Hein & Associates exhibits the knowledge and expertise to assist the Company in key areas. We look forward to working with Hein and utilizing their valuable counsel for the benefit of the Company and our shareholders."
Document Capture made impressive corporate progress in 2008; laying the groundwork for realizing outstanding growth in 2009. The Company expects to add significant OEM contract wins over the next year as well as expanding its product line and industry leading IP portfolio.
About Document Capture Technologies
Document Capture Technologies (DCT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture solutions. Its vertical integration and innovative proprietary system development kits allow for a broad range of applications, faster time-to-market and ease of integration for its customers.
DCT has more than 45 key accounts, predominantly in North America and a growing intellectual property (IP) portfolio that currently numbers more than 25 granted domestic and international patents as well as 3 pending. DCT maintains an aggressive IP strategy to defend its technology and market leadership position.
DCT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VAR's and other system integrators, including Qualcomm and Brother.
DCT has steadily grown its business (37% three-year organic CAGR) in the health care, security, financial and compliance vertical markets. The company and its licensees currently enjoy greater than a 70% share of the USB-powered mobile scanner market.
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. Document Capture undertakes no obligation to update publicly any forward-looking statements.
