Geos Communications Appoints Mike Reardon as Chairman of the Board and Updates Board Composition
SOUTHLAKE, Texas—March 12, 2010—Geos Communications™, Inc. (OTCBB: GCMI), a developer and distributor of mobile applications and services, today announced that Mike Reardon, Lead Director of Geos’ Board of Directors, has been elected as the Company’s Chairman of the Board. The Company also announced that Jonathan Serbin, CEO of Duo Guo, Geos’ leading mobile content retail provider in China, has been appointed to Geos’ Board of Directors. Both appointments are effective immediately.
Mr. Reardon succeeds Paul Arena, Geos’ founder, who had served as the Company’s Chairman since 2004. Mr. Arena and Dr. A.L. Braswell recently resigned as directors of Geos. The Geos Board of Directors now includes five independent directors in addition to Mr. Serbin and Chief Executive Officer Andy Berman.
“On behalf of the Company and our Board, we would like to thank both Paul and Dr. Braswell for their valuable contributions during their long tenure with Geos,” said Mr. Reardon. “Our founders’ wise R&D and intellectual property investments have provided the foundation for our current operations as a growth driven mobile content creator and distributor. We believe we have best in class leadership and are confident in our ability to execute against our aggressive business plan designed to accelerate our next stage of growth. We would also like to welcome Jon to the Board. As we look to grow our global presence, we believe Jon’s success in developing retail and media businesses in China will prove instrumental to our expansion initiatives among this large, emerging market opportunity.”
Mr. Arena stated, “It has been my pleasure to serve Geos in a variety of positions to achieve our initial goals. The current management is well positioned to take the Company to the next level of success and I look forward to their progress and continuing to consult with the team as needed during this transition.”
About Mike Reardon
Mr. Reardon has served on the Geos Board of Directors since June 2009, and was appointed as Lead Director in October 2009. Mr. Reardon has more than 25 years experience as an entrepreneur, consultant, director and marketing expert in the fields of telecommunications, finance and manufacturing. Currently, Mr. Reardon is the president of ProVision Communications, a telecommunications consulting firm established in 2000. He serves as a Director of HyperFlo, a manufacturer of precision cleaning equipment and sits on the board of Nelnet, Inc. (NYSE: NNI), one of the leading education and finance companies in the United States. Mr. Reardon holds a Bachelor of Science degree in economics from Arizona State University.
About Jonathan Serbin
Prior to Duo Guo, Mr. Serbin was the Chief Financial Officer and Chief Strategic Officer at EBT Mobile (LSE: EBT), a leading Chinese mobile-phone retail chain. He has also served as the President of Sinosure Financial Group, a financial advisory firm focused on China’s media and retail sector. Earlier in his career, Mr. Serbin was an investment banker at Lehman Brothers, focusing on communications, media and entertainment mergers and acquisitions, and was also a corporate attorney at Coudert Brothers, focusing on international corporate finance and mergers & acquisitions in the media sector. Additionally, he was previously Chief Financial Officer of Hana Biosciences (NASDAQ: HNAB.OB).
About Geos Communications, Inc.
Geos Communications, Inc. is creating solutions for the rapidly growing global, mobile community. Leveraging a unique combination of transformational technology, intellectual property as well as strategic and pervasive distribution channels, Geos provides products and applications that support the mobility of enterprises, small-to-medium businesses (SMBs) and consumers. For additional information, visit www.geoscommunications.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including, but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company. Actual results and developments may differ materially from those contemplated by these statements depending on such factors as changes in general economic conditions and financial or equity markets, technological changes, and other business risk factors. Geos Communications, Inc. does not assume, and expressly disclaims, any obligation to update these forward-looking statements.
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