Summary of AMERICAN TONERSERV CORP.

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On May 28, 2009, American TonerServ Corp. (the "Company") entered into a new Revolving Line of Credit with Wells Fargo Bank which provides for maximum borrowing of $835,000 at an initial interest rate of 11.25% per annum. The Revolving Line of Credit replaces an existing facility for $835,000 from Wells Fargo Bank for the same amount for standby letters of credit that was to expire on June 30, 2009. The Revolving Line of Credit will be available through January 15, 2010. The interest rate on borrowings under the Revolving Line of Credit is the prime rate plus 8.0%, with a minimum interest rate of 11.25%. Four of the Company's Directors are assisting the Company by serving as co-borrowers on the Revolving Line of Credit. In compensation for their assistance by serving as co-borrowers, these Directors received warrants to purchase shares of the Company's common stock at $0.15 per share for a period of five years as set forth below:

                                           Number of Shares
                       Name of Director     Under Warrants

                       William Robotham       2,000,000
                       Chuck Mache              666,667
                       Thomas Hakel             666,666
                       Daniel J. Brinker        666,666

On May 29, 2009, the Company entered into an Agreement to Advance Credit and Loan (the "Agreement") among MTS Partners, Inc. ("MTS), iPrint Technologies, LLC, a wholly-owned subsidiary of the Company ("iPrint"), and the Company. MTS is owned by Chad Solter, a Director of the Company. Under the Agreement, MTS Partners, Inc. has provided a $200,000 loan and standby letters of credit to certain of iPrint's vendors in the aggregate of $365,000. The loan was made under a secured promissory note that is due on August 15, 2009. The total amount of interest on the note due at maturity is $15,000. The note is secured by all of iPrint's assets. As compensation for providing the standby letters of credit under the Agreement, MTS received warrants to purchase 1,000,000 shares of the Company's common stock at $0.15 per share for a period of five years.