Tidel Technologies Fights OffCreditors

HOUSTON - (09/07/04) -- ATM maker Tidel Technologies Inc.said it has reached an agreement with a major creditor, LaurusMasterFund, Ltd., to extend debt terms and waive prior defaults ofnon-payments. Under the deal, Tidel will pay Laurus $400,000 on orbefore Sept. 17 towards a total of $499,238 in past due interestand penalties, and the remainder will be due at a later date. As aresult, the unpaid principal balance due Laurus is $6.5 million.The once-high flying Tidel was the chief supplier for Credit CardCenter, at one time the nation's largest independent operator ofATMs, but that company went bankrupt and was liquidated.