USA Technologies Inc (USAT)

[tigerpac]

I have to agree that there is more bad news on the horizon, specifically as it relates to aggressive sales bookings, the secondary offerings, and it will culminate in illicit management bonuses they approved for themselves based upon those goals that were artificially achieved. Herbert is going to be forced out of his own company in the end.

The company is looking for a Director of Financial Systems per LinkedIn reporting to the CEO. Dead money for awhile..agree with your target price of $2.50 .

“Pressure to achieve sales targets gave rise to the premature and/or inappropriate recognition of revenues and reporting of connections [to USAT’s payment network] associated with certain of the examined transactions, typically occurring at or near the end of financial reporting periods,” the Malvern, Pa.-based company said in a Sunday filing with the Securities and Exchange Commission.
The filing describes several other shortcomings, including communication lapses and a failure by senior management to “timely or fully report certain employee complaints and concerns to the independent auditor and/or the Audit Committee.”