cMoney Names Mobile Industry Veterans to Executive Team
July 30 2010 - 4:59PM
Business Wire
C$ cMoney, Inc., a Houston-based company at the
forefront of mobile phone-based payment and money transfer
technologies, has announced the promotion of William Watson,
formerly chief operating officer, to chief executive officer. In
addition, Adam A. Boris has been named to the position of
chief operating officer and John J. Shin has been hired to
serve as the chief investment officer and senior vice president of
corporate development. Dr. Larry Wilson, former cMoney board
director, has been appointed as chairman of the board. Jennifer
Pharris, interim CEO and former chairman, had stepped into the
roles while assembling the executive team and will continue as
founder and shareholder.
“William’s appointment to CEO was a natural choice. His
experience with launching innovative mobile technologies and
leading organizations through tremendous growth is a clear match
with cMoney,” said Jennifer Pharris, founder of C$ cMoney, Inc. “In
his short tenure as COO, he has demonstrated a deep understanding
of the mobile technology industry and I am confident that as CEO,
William will assist in positioning cMoney as a leader in the global
mobile payments space.”
As the chief executive officer, Watson will oversee the
strategic direction of cMoney, work in tandem with the board of
directors and act as the official corporate spokesperson. Watson is
a seasoned executive with 20 years of experience providing
executive management and leadership to public and private
telecommunications and mobile technology companies.
“I look forward to my new role with the company and working with
a strong leadership team that now includes Adam and John, and I
welcome the appointment of our chairman Dr. Larry Wilson,” Watson
said. “This team of executives, with a proven record of success, is
excited about the potential growth of the company.”
In his capacity as chief operating officer, Boris, former
interim COO at TLeMAZ, will oversee the everyday operations and
functions of cMoney, resolving any issues that may arise and
ensuring the system-wide implementation of the company’s policies
and procedures. With almost 30 years of experience in the mobile
technology industry with such companies as Motorola, Inc.,
Ameritech and DBS Communications, Boris brings strong expertise in
launching innovative technologies and services.
As the chief investment officer and senior vice president for
corporate development, Shin is tasked with managing and
monitoring investment activity, and will be working with external
analysts, maintaining good investor relations, securing financing
and establishing relationships with strategic business partners.
Shin is a former venture capitalist and investment banker with
success in funding, building and exiting multi-stage
enterprises
About C$ cMoney, Inc.
C$ cMoney, Inc. (CMEY.PK) is a Houston-based technology company
that has developed a new and innovative way to send money and pay
for goods and services using a mobile phone and the text messaging
system. Scheduled to launch in 2011, the pioneering technology will
create a “virtual wallet” that will eliminate exposure to identity
and credit card theft for users. It can be used anywhere that cash,
checks or credit cards are accepted. For more information, visit
www.cMoney.com.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" such as the scheduled launch date of
the Company’s product. Forward-looking statements provide current
expectations of future events based on certain assumptions and
include any statement that does not directly relate to any
historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements as a result
of various important factors, including: risks related to the
integration of acquisitions and the ability to market successfully
acquired technologies and products; the ability of the Company to
effectively compete; the timing and effectiveness of the planned
launch of the new C$ cMoney product; the need to raise additional
capital to fund existing operations and the planned product launch,
the need to secure third party contracts, the inability to
adequately protect Company intellectual property and the potential
for infringement or breach of license claims of or relating to
third party intellectual property; risks related to data and
information security vulnerabilities; ineffective management of,
and control over, the Company's growth; adverse results in
litigation; and changes in and a dependence on key personnel, as
well as other factors contained in our most recent Annual Report on
Form 10-K (copies of which may be accessed through the Securities
and Exchange Commission's website at http://www.sec.gov), including
those found therein under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations". In addition to these factors, actual future
performance, outcomes, and results may differ materially because of
more general factors including (without limitation) general
industry and market conditions and growth rates, economic
conditions, and governmental and public policy changes. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of the press release.
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