Etelos, Inc. (OTCBB: ETLO) today announced today the appointment of Larry
D. DeBower and Andrew I. Liu to its Board of Directors, effective
immediately. With the additions of DeBower and Liu, the Etelos Board of
Directors has been expanded from four to five directors. The company
also announced the resignation of director Gregory Ruff, effective
August 7, 2008.
Larry DeBower has 32 years of auditing and accounting experience with
PricewaterhouseCoopers LLP, having served as a partner from 1985 until
his retirement in 2005. Throughout this period, Mr. DeBower was an Audit
Partner in PwC's San Jose, Calif. Office, with an industry focus on mid
and large cap public companies, as well as privately held,
venture-backed technology clients in the software, Internet and
networking fields. While a Partner, he was also the leader of PwC's
Software and Internet Sector in the San Jose Office, National Software
Industry Leader, and a Regional Accounting and SEC Consulting Partner.
Mr. DeBower is a Certified Public Accountant.
Andy Liu is CEO of BuddyTV, the largest independently held TV site on
the Internet. Prior to BuddyTV, Mr. Liu served as President and CEO of
NetConversions from 1999-2004 prior to its sale to aQuantive and served
as VP and GM of its Site Optimization unit from 2004-2005. He is also a
founder of a non-profit that is focused on technology in developing
countries and is very passionate about entrepreneurship. Mr. Liu brings
deep experience in building companies, site optimization, viral
marketing, SEO, community building and product development. In 2003, he
was named to Puget Sound Business Journal's "40 Under 40." Mr. Liu
received his MBA from Wharton.
“We are very pleased to welcome Larry and Andy
to our Board of Directors and are confident that these accomplished
individuals will make significant contributions to Etelos,”
said Danny Kolke, chairman, founder and chief technology officer. “Etelos
has matured greatly as a company over the past year as we significantly
expanded the capabilities of the Etelos Marketplace™,
developed our partner base and became a public company. As we look
ahead, our focus is on growing our user base and extending the reach of
our branding and marketing efforts. Andy’s
extensive experience in developing and implementing successful Internet
marketing strategies will complement our ongoing efforts to enhance the
user experience of our site while increasing the amount of traffic we
drive to the Marketplace. Further, as we continue to grow as a public
company, we look forward to drawing on Larry’s
vast expertise to develop our internal processes and ensure best
practices in our financial systems and reporting. I look forward to
working with the new members of our expanded Board to shape the
direction of the company and address our many growth opportunities.”
“We also wish to extend our sincere gratitude
to Greg for his dedicated service to Etelos during his tenure on our
Board of Directors,” continued Kolke. “His
guidance and expertise has been an important part of our success to date
and we wish him well in his future endeavors.”
About Etelos, Inc.
Etelos provides on-demand browser-based applications on the hosting
environment that you choose. Etelos™
technology for developing and deploying on-demand applications is
revolutionizing the world of software distribution. The Etelos
Marketplace™ gives developers an easy way to
license, distribute and host their applications, and businesses a wide
selection of fully customizable, on-demand applications. Etelos, Etelos
CRM™, Etelos Projects™,
and Etelos Marketplace are trademarks of Etelos, Inc.; other trademarks
are the property of their respective owners. For more information about
Etelos, please visit www.etelos.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding Etelos' business
which are not historical facts may be "forward-looking statements" that
involve risks and uncertainties. Forward-looking statements include,
among other things, statements concerning the effect of these new board
members on the future financial performance of our company, the
acceptance of our products and services, the success and timeliness of
our product and platform roll-out and other statements qualified by
words such as "anticipate," "believe," "intend," "may" and other words
of similar import. These statements are neither promises nor guarantees,
but involve risks and uncertainties that could cause actual results to
differ materially from those set forth in the forward-looking
statements, including, without limitation: For a discussion of such
risks and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk Factors" in
the Company's reports that Etelos files periodically with the Securities
and Exchange Commission. All forward-looking statements are qualified in
their entirety by this cautionary statement, and Etelos undertakes no
obligation to update publicly any forward-looking statement for any
reason, except as required by law, even as new information becomes
available or other events occur in the future.