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8-K - CURRENT REPORT - IOTA COMMUNICATIONS, INC. | iotc_8k.htm |
Exhibit
99.1
IotaComm Announces New Independent Board of Directors
Adds Business Operations and Capital Markets Expertise
ALLENTOWN, PA (ACCESSWIRE) – July 6, 2021 - Iota
Communications, Inc. (OTC: IOTC) ("IotaComm" or the "Company"), a
wireless communication and data analytics software company, today
announced the appointments of Kathy Hanrahan, Paul Baldwin, Mark
Romano, and Jim Ratigan, to its Board of Directors.
IotaComm
is building the next generation of wireless connectivity for the
Internet of Things, leveraging a nationwide portfolio of
FCC-licensed 800 MHz radio spectrum. The Company’s solutions
enable real-time data aggregation to advance health, safety, and
sustainability for commercial and industrial
customers.
“I
am delighted to welcome our new independent directors to the
IotaComm team,” said Terrence DeFranco, President and CEO of
IotaComm. “We are at a critical point in the Company’s
growth, and it is very exciting to add their combined knowledge,
experience and expertise. Their insights and perspectives will
bring significant value to our shareholders as we confront the
strategic alternatives that we will face in the
future.”
The
Company also announced the resignation of J. Barclay Knapp from the
Board of Directors.
“I
am very thankful for Barclay’s leadership that helped to get
us to this point in our growth,” DeFranco continued. “I
look forward to continue to work with him on fulfilling our shared
vision of becoming the leading wireless communication platform for
the Internet of Things."
The
Company also announced the appointment of Marcum, LLP as the new
auditor, replacing Friedman, LLP.
Biographies:
Kathy Hanrahan
Kathy
Hanrahan currently serves as the Chief Financial Officer for Red
Mountain Weight Loss. Prior to joining Red Mountain, Ms. Hanrahan
ran her own management consulting firm where she focused her time
on providing financial, operational, and strategic support to
growing organizations within the State of Arizona, as well as
serving as a director for both public and private companies located
in the States of Arizona and Texas.
Before
establishing New Horizons Management Consulting in 2010, Ms.
Hanrahan was employed by TASER International Inc. (now AXON).
During her tenure with TASER, she served in several key executive
positions. These positions included, in order from her hire:
Controller (1996 – 2000), Chief Financial Officer (2000
– 2004), taking the Company public on the NASDAQ stock
exchange in 2001, Chief Operations Officer (2003 – 2006) and
President and Chief Operating Officer (2006 – 2008). Her last
position with the organization was as the Chief Executive Officer
and Co-Chairperson for the TASER Foundation for Fallen Officers
(2008 – 2010).
Paul Baldwin
Paul
Baldwin has more than 30 years of executive leadership experience
in the insurance risk management/reinsurance industry, with a deep
understanding of balance sheet improvement, risk mitigation,
financial planning, mergers and acquisitions and business
development. He has consulted to Fortune 500, middle-market and
international companies in multiple industry sectors to identify
and improve operational efficiency, sales growth, business strategy
and execution.
Mr.
Baldwin is a Vice President for NFP Insurance, a $1.3bn global
insurance broker. He has held executive roles at Huntington
Insurance as part of Huntington Bank where he was the President and
CEO and several leadership roles for Wells Fargo, including
Regional Director for the Southwest and Executive Vice President
and COO for American E&S providing direction and overall
strategy that achieved tremendous growth in business development,
transformation, and integration nationally. Prior to Wells Fargo,
Mr. Baldwin served in leadership, business development, sales and
consulting roles for Aon PLC, Federated Insurance and Zurich North
America.
Mark Romano
Mark
Romano brings over 37 years of technical, program, and general
business management experience. He has broad experience with
government and commercial contracting, owned and successfully
operated commercial businesses, and is well versed in all aspects
of business performance. From 2018 – 2021 Mr. Romano has
served as Sr. Director at L3Harris Technologies Inc. where he is
responsible for P&L of large government programs in the
Wireless Products Group business unit, and has Senior Leadership
accountability for business strategy and execution across the $2+
billion Business Segment. From 2013 – 2018 he served as Sr.
Product manager for L3Harris’s commercial geospatial
division. From 1994-2013, Mr. Romano owned and divested 2
international commercial geospatial companies serving in Vice
President and CTO capacities. Mr. Romano is educated in Electrical
Engineering from Keene State College (1984) and is a subject matter
expert with extensive worldwide published peer reviewed papers,
textbooks, and journals including extensive participation in his
industry as a keynote speaker.
Jim Ratigan
James
(Jim) Ratigan is a senior investment banker, specializing in
providing strategic and capital markets advice, and mergers and
acquisitions (M&A) execution for nearly thirty years. He spent
the first two decades of his career in the M&A group at Merrill
Lynch in New York. Subsequently, Mr. Ratigan spent seven years as a
Senior Managing Director and member of the Global M&A
Leadership team at Deutsche Bank, most recently as the Head of
Americas M&A. Mr. Ratigan joined Leerink Partners (now SVB
Leerink) in late 2016, as a Senior Managing Director and Head of
M&A with a focus on building the firms’ advisory
presence. Throughout his career, he has worked on hundreds of
public and private deals across a broad range of industries,
regions, and types of strategic advisory assignments. Mr. Ratigan
graduated with honors in 1991 from Brown University.
About Iota Communications, Inc.
Iota
Communications, Inc. (OTC: IOTC) or IotaComm™ is a wireless
communications and data analytics company that provides Internet of
Things ("IoT") solutions that enable health, safety, and
sustainability initiatives. IotaComm provides gateways and sensors
to gather data related to indoor air quality, resource consumption,
water quality, asset monitoring, and other critical data across
multiple verticals, including commercial real estate, municipal,
education, health care, and manufacturing. The data analytics
services are used to provide insights that enable a safe and
healthy environment, higher productivity and efficiency, and
cost-savings. IotaComm also offers related services which
facilitate the adoption of its subscription-based services, such as
customization and advanced data analytics.
For
more information about Iota Communications, Inc., please visit:
https://www.iotacommunications.com
Forward-Looking Statements
This
press release may contain "forward-looking statement" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to our
beliefs regarding the role that IoT will play in the future, our
ability to implement our strategic goals, our ability to raise
capital and reduce costs, and any other statements that are not
historical facts. Forward-looking statements are based on
management's current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results, financial condition and stock price. Factors that could
cause actual results to differ materially from those currently
anticipated include, but are not limited to: risks related to the
acquisition and integration of the assets we acquired from
Solbright Group, Inc., risks related to our growth strategy; risks
relating to the results of research and development activities; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; our dependence on
third-party suppliers; our ability to attract, integrate, and
retain key personnel; the early stage of products under
development; our need for substantial additional funds; government
regulation; patent and intellectual property matters; competition;
as well as other risks described in our SEC filings. We expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in
events, conditions or circumstances on which any such statement is
based, except as required by law.
Corporate and Investors:
Iota
Communications, Inc.
600
Hamilton Street, Suite 1010
Allentown,
PA 18101
Tel:
(855) 743-6478
investors@iotacommunications.com
Public Relations / Media:
Kim
Velez VP, Head of Marketing
Iota
Communications, Inc.
Tel:
(484) 861-2994
kvelez@iotacommunications.com
SOURCE: Iota Communications Inc.