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| 8-K - ELECTRONIC GAME CARD INC | v164631_8k.htm |
Exhibit
99.1
Electronic
Game Card, Inc. Appoints New U.S. Based Chief Financial
Officer
NEW YORK, NY/LONDON – August 10, 2009
- Electronic Game Card, Inc. (OTCBB: EGMI) (“EGC”), announced today
that it has appointed Thomas E. Schiff as its chief financial officer
effective September 1, 2009, replacing Linden J. Boyne who is retiring after
serving as ECG’s interim chief financial officer, corporate secretary and board
member over the last three years. Mr. Schiff, formerly a certified public
accountant with over 15 years of public and private company CFO experience, will
work from the Company’s new headquarters to be located in Irvine, CA.
Mr.
Schiff brings over 30 years of executive experience in the gaming, electronic
security, marketing and manufacturing industries. He received his CPA
certification while at KPMG (formerly Peat, Marwick & Mitchell) where he was
an audit services and computer audit specialist. He also holds an MBA and
a Bachelor of Arts degree in economics from Stanford University. Mr.
Schiff previously served as executive vice president and CFO for Planetwide
Games, Inc., interactive entertainment software and digital media company, where
he was actively involved in the transition of the company from development stage
into commercialization, executed license agreements with entities such as
Electronic Arts, Sony Online Entertainment, National Geographic, Marvel
Characters, and Viacom/Paramount Pictures. Prior to this he was executive
vice president and CFO of SSP Solutions, Inc. (NASDAQ: SSPX), a digital security
company providing PKI-based solutions, where he managed two mergers, multiple
complex financings and significantly reduced expenses. From 1996 to 2000,
Mr. Schiff was chief financial officer for Gotcha International, L.P., an
international trademark licensor of apparel products, responsible for the
structuring and negotiations of numerous business ventures.
Commenting
on Mr. Schiff’s appointment, Kevin Donovan, EGC’s chief executive officer, said,
“Our search for a highly qualified financial executive with relevant industry
and public company experience was extensive. Tom Schiff has stellar
credentials and an entrepreneurial enthusiasm that should prove instrumental in
accomplishing our mission of achieving EGC’s market potential. Throughout
his career, Tom has worked through restructurings, turnarounds and importantly
business expansions, establishing proper financial controls and improving
processes and performance. We expect Tom to be a vital part of our
management team as we build our client base, develop strategic partnerships, and
expand our platform.”
“This is
an exciting time in Electronic Game Card’s evolution. The company has
completed its turnaround, entered its commercialization phase while establishing
a healthy financial base,” commented Tom Schiff. “Having successfully
guided a number of companies through significant transitional and high growth
periods, I am eager to become part of EGC’s management team to participate in
its further development. The company is poised for significant business
expansion as it secures enterprise contracts and joint venture
partnerships.”
The Board
of Directors of Electronic Game Card, Inc. wishes to thank Linden Boyne for his
efforts during the last three years. He was instrumental, along with Lee
Cole the former interim CEO of EGC, in giving the Company the foundation it now
has, and we wish him good health and happiness in the future.
About Electronic Game Card,
Inc.
Electronic
Game Card, Inc., (OTCBB: EGMI), develops, produces and markets innovative games
to the promotional industry worldwide, toys and games, casinos and
lottery. The Company’s lead product is the EGC Electronic GameCard™, a
unique credit card-sized pocket game combining patent and patent-pending
proprietary technology of interactive capability with “instant win”
excitement. The EGC Electronic GameCard™ can be programmed to suit a
variety of gaming and promotion applications.
EGMI's client
base extends across the $100 billion global market of sales promotion, gaming
and casinos, Indian gaming and state and national lotteries markets. EGMI
develops sales and marketing relationships with agents and distributors globally
and currently has agents and distributors in North America, United Kingdom,
Ireland, Mexico, Italy, Sweden, Norway, Denmark, Finland, South Africa
Australia, New Zealand and Japan.
For
further information please visit www.electronicgamecard.com
Certain
statements in this news release may constitute “forward-looking” statements
within the meaning of section 21E of the Securities and Exchange Act of
1934. The Company believes that its expectations, as expressed in these
statements are based on reasonable assumptions regarding the risks and
uncertainties inherent in achieving those expectations. These statements
are not, however, guarantees of future performance and actual results may differ
materially. Risk factors are listed in the most recent Annual Report on
Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and
Exchange Commission.
Contact
Yvonne
L. Zappulla
Managing
Director
Grannus
Financial Advisors, Inc.
(212)
681-4108
yvonne@grannusfinancial.com
or
Kevin
Donovan
Chief
Executive Officer
Electronic
Game Card, Inc.
(888)
341-3421
investor.relations@electronicgamecard.com