N@N

ITI Internet Services Files for Protection Under Chapter 11

^{Published on 2010-06-24 15:16:16 - Market Wire}
 

TACOMA, Wash.--([ BUSINESS WIRE ])--ITI Internet Services, Inc., a wholly owned subsidiary of HIMC Corporation (Pink Sheets:HMCO), announced today that they have filed for protection under Chapter 11 of the U.S. Bankruptcy Law.

"Filing for bankruptcy was necessitated by the unsuccessful appeal of the Durand vs. HIMC Corporation lawsuit and the need to protect merchant funds."

Mr. Jay Gurley, Chairman of HIMC Corporation, said, aFiling for bankruptcy was necessitated by the unsuccessful appeal of the Durand vs. HIMC Corporation lawsuit and the need to protect merchant funds.a

About HIMC Corporation

HIMC Corporation (Pink Sheets:HMCO), through its wholly owned subsidiary ITI Internet Services ([ www.itinternet.net ]), has been a leading provider of secure electronic check processing, refund and rebate check fulfillment services, NSF check re-presentment, credit card processing, and ACH transfers for national, regional and local businesses through the use of the internet, telephone and wireless.

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved.