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Article: Equitex Terminates Cash Systems Agreement for Purchase Of Chex Services.
- Article from:
- Business Wire
- Article date:
- December 15, 2003
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Business Editors
ENGLEWOOD, Colo. & PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Dec. 15, 2003
Equitex, Inc. (NASDAQ: EQTX) announced today that it has terminated the definitive agreement between Equitex, Inc., its subsidiary Chex Services, Inc. and Cash Systems, Inc. executed on July 23, 2003, providing for the sale of Chex Services to Cash Systems. In connection with the termination, Equitex has demanded that Cash Systems promptly pay the $500,000 termination fee provided for in the agreement should Cash fail to cure its breaches of the agreement within ten days.
On December 4, 2003, Cash Systems announced its termination of the agreement with ...