<SEC-DOCUMENT>0001140361-19-009452.txt : 20190520
<SEC-HEADER>0001140361-19-009452.hdr.sgml : 20190520
<ACCEPTANCE-DATETIME>20190520172023
ACCESSION NUMBER:		0001140361-19-009452
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190514
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190520
DATE AS OF CHANGE:		20190520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		19839862

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
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<DESCRIPTION>8-K
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      <div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;;">Washington, D.C. 20549</font></div>
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      <div style="text-align: center; font-size: 18pt;"><font style="font-family: &quot;Times New Roman&quot;; font-weight: bold;">FORM 8-K</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Current Report Pursuant to Section 13 or 15(d) of</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">The Securities Exchange Act of 1934</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Date of report (Date of earliest event reported): May 14, 2019</font></div>
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      <div style="text-align: center; font-size: 24pt;"><font style="font-family: &quot;Times New Roman&quot;;"><font style="font-family: &quot;Times New Roman&quot;; font-weight: bold;">USA TECHNOLOGIES, INC</font>.</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(Exact name of registrant as specified in its charter)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">001-33365</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">232679963</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(State or other jurisdiction of incorporation or organization)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(Commission File Number)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(I.R.S. Employer Identification No.)</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">100 Deerfield Lane, Suite 300</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Malvern, Pennsylvania 19355</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">(Address of principal executive offices and zip code)</font></div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Registrant&#8217;s telephone number, including area code: 610-989-0340</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">n/a</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Former name or former address, if changed since last report</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
          of the following provisions:</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#9744;</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#9744;</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#9744;</font></div>
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                <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>
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                  <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Title of each class</div>
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                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Trading</font></div>
                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Symbol(s)</font></div>
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                  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name of each exchange on which registered</font></div>
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                <td style="width: 31.71%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">Common Stock, no par value<br>
                </td>
                <td style="width: 31.72%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">USAT</td>
                <td style="width: 36.56%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">The NASDAQ Stock Market LLC<br>
                </td>
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                <td rowspan="1" style="width: 31.71%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">Series A Convertible Preferred Stock, no par value<br>
                </td>
                <td rowspan="1" style="width: 31.72%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">USATP</td>
                <td rowspan="1" style="width: 36.56%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">The NASDAQ Stock Market LLC</td>
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        &#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"></font><br>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
          chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
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      <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Emerging growth company&#160; &#9744;</font></div>
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        <font style="font-size: 10pt; font-family: 'Times New Roman';"></font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
          or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160; &#9744;</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 3.01.</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)&#160; On May 14, 2019, USA Technologies, Inc. (the &#8220;Company&#8221;), received, as expected, a notice from the staff of the Listing Qualifications Department
            of The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;). The notice stated that the Company's delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 (the "March 31, 2019 Form 10-Q") served as an additional basis for delisting
            the Company&#8217;s securities from Nasdaq. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (&#8220;SEC&#8220;). Previously, and as required, on May 13,
            2019, the Company filed a Form 12b-25 with the SEC which reported that it would not be in a position to timely file the March 31, 2019 Form 10-Q. The May 14, 2019 notice indicated that the Company should present its views with respect to the
            additional deficiency to the Nasdaq Hearings Panel (the &#8220;Panel&#8221;)&#160; in writing by no later than May 21, 2019. As previously reported, on April 17, 2019, the Panel granted the Company&#8217;s request for continued listing of the Company&#8217;s stock on
            Nasdaq, and granted the Company until September 9, 2019 to regain compliance with its filing requirements, including the filing of the March 31, 2019 Form 10-Q. The Company has submitted its views to the Panel, and has indicated that the
            additional deficiency should not affect the exception previously granted by the Panel as the additional deficiency was contemplated by the exception.</font></div>
        <div><br>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">On May 20, 2019, the Company issued a press release announcing its receipt of the notice. A copy of the press release is attached as Exhibit 99.1 and
            is incorporated herein by reference.</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 5.02</font></div>
                </td>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
                      Arrangements of Certain Officers.</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(e)&#160; On May 14, 2019, the Company and Glen E. Goold entered into an amendment to the letter agreement dated January 19, 2019 between the Company and
            Mr. Goold (the &#8220;Amendment&#8221;), pursuant to which the term thereof was extended from June 30, 2019 to December 31, 2019. The Amendment also provided that the cash bonus payable to Mr. Goold upon the Company achieving compliance with its periodic
            filing obligations would be increased from $105,000 to $200,000. The Amendment also provided that, in addition to the compensation set forth in the letter agreement, the Company would pay to Mr. Goold a cash retention bonus in the amount of
            $100,000 if Mr. Goold continued to act as interim Chief Financial Officer until December 31, 2019.</font></div>
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        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment which is filed
            hereto as Exhibit 10.1 and is incorporated herein by reference.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">On May 20, 2019, the Company issued a press release announcing the Amendment. A copy of the press release is attached as Exhibit 99.1 and is
            incorporated herein by reference.</font></div>
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                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 9.01.</font></div>
                </td>
                <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Financial Statements and Exhibits</font></div>
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            <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
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                <div style="text-align: justify;"><a href="ex10_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Exhibit 10.1</font></a></div>
              </div>
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              <div>
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Amendment to letter agreement by and between the Company and Glen E. Goold dated May 14, 2019</font></div>
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            <td style="width: 89%; vertical-align: top;" rowspan="1">&#160;</td>
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                <div style="text-align: justify;"><a href="ex99_1.htm"><font style="font-size: 10pt; font-family: 'Times New Roman';">Exhibit 99.1</font></a></div>
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            <td style="width: 89%; vertical-align: top;">
              <div>
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Press release of the Company dated May 20, 2019</font></div>
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        <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SIGNATURES</font></div>
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        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly
            authorized.</font></div>
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            <td style="vertical-align: top;" colspan="2" rowspan="1">
              <div>
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">USA TECHNOLOGIES, INC.</font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" rowspan="1">
              <div>
                <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dated: May 20, 2019</font></div>
              </div>
            </td>
            <td style="width: 3%; vertical-align: top;" colspan="1" rowspan="1"><font style="font-size: 10pt; font-family: 'Times New Roman';">By: </font></td>
            <td style="width: 47%; vertical-align: top;" rowspan="1"><u><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Stephen P. Herbert</font></font></u></td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 3%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1"><font style="font-size: 10pt; font-family: 'Times New Roman';">Stephen P. Herbert,</font></td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 3%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1"><font style="font-size: 10pt; font-family: 'Times New Roman';">Chief Executive Officer</font></td>
          </tr>

      </table>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">May 14, 2019</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Mr. Glen Goold</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2818 Elsmore Street</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Fairfax, VA 22031-1411</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dear Glen:</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">This letter sets forth certain changes to the letter agreement between you and USA Technologies, Inc. (&#8220;USAT&#8221;) dated January 19, 2019
        (the &#8220;Letter&#8221;) pursuant to which you were appointed interim Chief Financial Officer (&#8220;CFO&#8221;) of USAT:</font></div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" id="za9d01aa04139453d8f178396eeab0b30" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#8226;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">The date of June 30, 2019 appearing in the third bullet point of the Letter shall be extended until December 31, 2019;</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: justify;">
      <div>
        <table cellspacing="0" cellpadding="0" id="z1c5a2978649a4d228233abcfd0186c2b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#8226;</font></td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">The number of $105,000 appearing in the fourth bullet point of the Letter shall be increased to $200,000; and</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: left;">
      <div>
        <table cellspacing="0" cellpadding="0" id="z10d047c8727a45f8a0b5a724b37f439d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#8226;</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman';">In addition to the compensation currently set forth in the Letter, you shall earn a cash retention bonus in the amount of $100,000 if you shall continue to act as the
                    interim CFO of USAT until December 31, 2019. The cash retention bonus would be paid by USAT to you as follows: $50,000 within ten days following your entering into this letter; and $50,000 within ten days after December 31, 2019. If you
                    shall not have earned the retention bonus, you shall repay to USAT the $50,000 previously delivered to you within ten days of your ceasing to act as the interim CFO.</font></div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
    </div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Except as specifically set forth above, all of the terms and conditions in the Letter shall not be amended or modified in any respect
        whatsoever and shall remain in full force and effect.</font></div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Please indicate your written acceptance by signing this letter where indicated below and returning it to me.</font></div>
    <div style="text-align: left; margin-right: 10.8pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Sincerely,</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">USA Technologies, Inc.</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">By:<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>/s/Stephen P. Herbert</u></font><font style="font-size: 10pt; font-family: 'Times New
          Roman';"><br>
        </font>Stephen P. Herbert,</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Chief Executive Officer</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Accepted and Agreed to:</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>/s/Glen Goold</u></font></font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Glen Goold</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dated: May 13, 2019</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font></div>
    <font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
    </font>
    <div style="text-align: left;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> </font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div>
      <div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&#160;<font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; font-weight: bold;">USA Technologies, Inc. Receives Additional Nasdaq Deficiency as
          Anticipated</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; font-weight: bold;">Extends Contract of Interim Chief Financial Officer</font></div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;Malvern, Pa.--(BUSINESS WIRE)&#8212;May 20, 2019&#8212;USA Technologies, Inc.&#160; (Nasdaq: USAT) (the &#8220;Company&#8221;), a premier digital payment, consumer engagement and
          logistics service provider for the self-service retail market, today announced that on May 14, 2019 it received, as expected, a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;) indicating that the
          Company's delay in filing its Form 10-Q for the quarter ended March 31, 2019 (the "March 31, 2019 Form 10-Q") constituted an additional basis for delisting the Company&#8217;s&#160; securities. Nasdaq Listing Rule 5250(c)(1) requires listed companies to
          timely file all required periodic financial reports with the Securities and Exchange Commission (the &#8220;SEC&#8221;). Previously, and as required, on May 13, 2019, the Company filed a Form 12b-25 with the SEC which reported that it would not be in a
          position to timely file the March 31, 2019 Form 10-Q.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">As previously reported, on April 17, 2019, the Nasdaq Hearings Panel (the &#8220;Panel&#8221;) granted the Company&#8217;s request for continued listing of the Company&#8217;s
          stock on Nasdaq, and granted the Company until September 9, 2019 to regain compliance with its filing requirements, including the March 31, 2019 Form 10-Q. In addition, the Company is required to provide the Panel on May 30, 2019, June 28, 2019,
          July 31, 2019 and on August 15, 2019, with a written update regarding the status of the remediation and audit process.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The May 14, 2019 notice indicated that the Company should present its views regarding the additional deficiency to the Panel in writing. The Company has
          done so, and has indicated that the additional deficiency should not affect the exception previously granted by the Panel as the additional deficiency was contemplated by the Panel&#8217;s exception.</font></div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Company is working diligently to regain compliance with its periodic reporting requirements, and anticipates doing so by no later than September 9,
          2019.</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> </font><br>
      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Company also announced today that on May 14, 2019, it had extended the contract of Glen E. Goold, its interim Chief Financial Officer, from June 30,
          2019 until December 31, 2019.</font></div>
    </div>
    <div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">About USA Technologies, Inc.</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market.
          The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort&#174; G-series, ePort Mobile&#174; for customers on the go, ePort&#174; Interactive, and QuickConnect, an API Web service for developers. Through its
          acquisition of Cantaloupe Systems, Inc. ("Cantaloupe"), the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management solutions. Cantaloupe
          is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services.</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      </div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Forward-looking Statements:</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> <br>
        </font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#8220;Safe Harbor&#8221; Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in
          this press release are forward-looking statements. When used in this press release, words such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; and similar expressions, as they relate to the Company or its management, identify forward
          looking statements. Such forward-looking statements are based on the beliefs of the Company&#8217;s management, as well as assumptions made by and information currently available to the Company&#8217;s management. Actual results could differ materially from
          those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, the ability to complete the financial statements required to be included in its unfiled periodic reports, restatement of the
          affected financial statements and address any material weaknesses&#894; the timing of completion of&#160; interim reviews and audits by the new independent registered public accounting firm&#894; whether the Panel would reconsider the terms of the delisting
          extension based upon any relevant event, condition or circumstance that exists or may develop, including the additional deficiency; risks relating to the substantial costs and diversion of personnel&#8217;s attention and resources deployed to address
          the restatement of the affected financial statements and internal control matters&#894; the costs and expenses relating to the Audit Committee&#8217;s internal investigation&#894; the impact of the internal investigation on the Company, its management and
          operations&#894; the risk of litigation or regulatory action arising from the internal investigation and its findings, from the failure to timely file its periodic reports with the SEC, or from the restatement of the affected financial statements&#894; any
          subsequent discovery of additional adjustments to the Company&#8217;s previously issued financial statements&#894; the ability of the Company to regain and maintain compliance with Nasdaq&#8217;s continued listing requirements&#894; the timing of the review by, and
          the conclusions of, the Company&#8217;s new independent auditor regarding the investigation and its impact on the financial statements&#894; possible default by the Company under its credit facility&#894; the ability of the Company to remediate any material
          weaknesses in internal control over financial reporting&#894; potential reputational damage that the Company may suffer as a result of the matters under investigation, the failure to file its required periodic reports with the SEC, or the restatement
          of the affected financial statements&#894; the impact of the internal investigation, and the restatement of the affected financial statements on the value of the Company&#8217;s common and preferred stock&#894; the ability of the Company to successfully defend
          itself, and the possibility of unfavorable outcomes, in the class action and shareholder demands for derivative action or in possible future legal proceedings&#894; the impact of the pending class action and shareholder demands for derivative action
          on the Company&#8217;s business, reputation, results of operations and financial condition&#894; and the risk that the filing of the unfiled periodic reports or the restatement of the affected financial statements will take longer than anticipated. Readers
          are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us speaks only as of the date of this press release. Unless required by law, the Company does not undertake to release publicly
          any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Contacts</font></div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Media:</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Joele Frank, Wilkinson Brimmer Katcher</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Tim Lynch / Meaghan Repko</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">212-355-4449</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">or</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Investors:</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Blueshirt Group</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Monica Gould, +1 212-871-3927</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">monica@blueshirtgroup.com</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
      </font>
      <div style="text-align: justify;">
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</SEC-DOCUMENT>
