Publicly traded American TonerServ has ceased operations, according to Dec. 30 and Jan. 14 filings with the U.S. Securities & Exchange Commission. American TonerServ executives were not available for comment.
Founded five years ago by former American Home Shield President Dan Brinker, the company acquired and provided back end services for small to medium toner cartridge supply and service providers across the country. AmericanTonerServ had acquired six independent suppliers in keeping with its strategy of integrating the used cartridge industry to compete with printer supply and service giants like Hewlett Packard and Lexmark.
Acquisition of TonerType in Florida in 2008 gave the company a cartridge manufacturing operation.
Traded on the Bulletin Board as ASVP, the company reported on Nov. 22 that third-quarter revenue increased 10 percent to $8.51 million from a year ago, but the quarterly net loss grew to $1.29 million from $1.03 million in the third quarter of 2009. At that time American TonerServ announced it was expanding its manufacturing operation in Florida.
On Dec. 23, former TonerType owners filed a notice of default on Dec. 23 claiming $673,000 in outstanding principal and accrued interest. Another default notice, filed on Dec. 28 by Celtic Capital Corporation, demanded immediate payment of $2,107,649 in principal, accrued interest, fees, costs and other expenses associated with a loan.
American TonerServ was located in Rohnert Park. It had about a dozen employees a year ago, but had shifted most positions to Florida.