ToughBuilt Announces Appointment of New Board Member
December 12 2019 - 9:30AM
ToughBuilt Industries, Inc. (''ToughBuilt'') (NASDAQ: TBLT;
TBLTW)
, a cutting edge product design,
manufacturer and distributor of innovative products, tools and
other accessories for the professional and do-it-yourself
construction industries, today announced the appointment of Linda
Moossaian, CPA, to its Board of Directors. Ms. Moossaian is an
achievement-oriented financial strategist with an exceptional
record of successful initiatives in financial planning, profit
optimization, joint venture accounting, and treasury management.
She has a strong history of forging strategic partnerships with
senior management, including CEOs and CFOs as well as key
stakeholders to drive financial objectives, make strategic
decisions, and analyze value-added analytics. Ms. Moossaian has a
sophisticated understanding of long-range budget preparation, GAAP
accounting, M&A, planning models, financial forecasting &
analysis, decision support, accounting procedures, and continuous
process improvement. Her advanced critical thinking, analytical,
qualitative, and quantitative analysis skills have been developed
through positions in corporate andpublic accounting and consulting.
She currently is the Director, Audit & Controls-WBTV Financial
Administration for Warner Bros. in Burbank, CA, a position she has
held since July 2019. Ms. Moossaian has previously acted as
Director, Theatrical Production Finance (from July 2009 to April
2018) and Director, Financial Planning & Analysis (from April
2018 to July 2019) for Warner Bros. The ToughBuilt Board has
determined that Ms. Moossaian’s expertise in finance is well suited
to ToughBuilt’s Board’s support of the company during this phase of
rapid growth.
Michael Panosian, Chief Executive Officer of
ToughBuilt, commented, “We are pleased to welcome Linda to our
Board. Her strengths in working with large public companies in
various accounting and finance roles deepens our expertise as we
continue to grow and work with different Fortune 500 companies.”
Ms. Moossaian reflected, “I look forward to bringing my many years
of experience in the public finance arena to support the efforts of
Michael and team as they continue to make a strong impression in
the construction and do-it-yourself industries.”
About ToughBuilt Industries,
Inc.
ToughBuilt is a designer, manufacturer and
distributor of innovative tools and accessories to the building
industry. We market and distribute various home improvement and
construction product lines for both the professional and
do-it-yourself markets under the TOUGHBUILT brand name, within the
global multibillion dollar per year tool market industry. All of
our products are designed by our in-house design team. Since
launching product sales in 2013, we have experienced significant
annual sales growth. Our current product line includes three major
categories, with several additional categories in various stages of
development, consisting of Soft Goods & Kneepads and Sawhorses
& Work Products. Our mission is to provide products to the
building and home improvement communities that are innovative, of
superior quality derived in part from enlightened creativity for
our end users while enhancing performance, improving well-being and
building high brand loyalty. Additional information about the
Company is available
at: https://www.toughbuilt.com/.
Forward-Looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) delays in
bringing products to key markets, (iii) an inability to secure
regulatory approvals for the ability to sell our products in
certain markets, (iv) intense competition in the industry from much
larger, multinational companies, (v) product liability claims, (vi)
product malfunctions, (vii) our limited manufacturing capabilities
and reliance on subcontractors for assistance, (viii) our efforts
to successfully obtain and maintain intellectual property
protection covering our products, which may not be successful, (ix)
our reliance on single suppliers for certain product components,
(x) the fact that we will need to raise additional capital to meet
our business requirements in the future and that such capital
raising may be costly, dilutive or difficult to obtain and (xi) the
fact that we conduct business in multiple foreign jurisdictions,
exposing us to foreign currency exchange rate fluctuations,
logistical and communications challenges, burdens and costs of
compliance with foreign laws and political and economic instability
in each jurisdiction. More detailed information about the Company
and the risk factors that may affect the realization of forward
looking statements is set forth in the Company’s filings with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC’s web site
at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
Investor Relations
Contact:Amato and Partners, LLC Investor Relations Counsel
admin@amatoandpartners.comSource: Toughbuilt Industries, Inc
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