To ALL:... NEWS RELEASE !!
The following just showed up on YAHOO NEWS....
Wednesday April 9 1:40 PM EDT
NVID announces resignation of Robert Bunte and Matthew Klenovic
SARASOTA, Fla.--(BUSINESS WIRE)--April 9, 1997--NVID Intl. (BB:NVID) announced that as of April 4th, 1997, in the best interest of the company, Robert Bunte and Matthew Klenovic have resigned from their respective positions as president of NVID International Inc. and Aqua Bio Technologies (ABT) Inc.
Both men have been indicted by the SEC in connection with possible securities fraud. A new management team is working to restore the profitability of the companies and the confidence of the investors.
Craig Sheffield is now the pro-tem president of NVID and David Larson, former vice president of sales for ABT is the pro-tem president of Aqua Bio Technologies. Sheffield was formerly the CFO/comptroller of NVID. Larson has been in sales and marketing for over 20 years, most recently with the Pinch-a-Penny pool store chain. These appointments are pending the approval of the stockholders and will be voted on at the annual meeting. The actual date of the meeting will be announced as soon as it can be determined and awaiting the receipt of the annual report.
Other members of the team are: Michael Redden currently the director of international sales; Andrew Arata, project manager for Technical Services who is also involved in the research and development of
Axen (formerly Microsafe); Robert Tomazic, BEE, MSIE, PE, is the project manager for research, development and manufacturing of the ionization equipment; Robert Edelson, PhD, will be acting in a
consulting capacity; Diana Korpal, RN, CIC has been active in the practice of Infection Control for 18 years, the past 15 at Methodist Hospital Indianapolis, Indiana; Dolores Baker, provides the secretarial support for the Companies. In addition to the corporate staff, NVID has 12 dealers throughout the country selling ABT products.
The company is focusing on a revised marketing program to increase sales, expand the dealership network, and expand new applications. Penetration into the industrial cooling towers and medical markets will add to the residential and commercial pool/spa business. Axen (formerly Microsafe), a non-toxic disinfectant, is still in the alpha test phase; preliminary studies are very promising. Final testing and marketing of this product are projected to last one year. The company continues negotiations with several Fortune 500 companies for the manufacturing rights to Axen. Additionally, there are other potential applications for altered formulations of Axen in other industries such as veterinary, endoscopy and food management that will be explored at a later date. "Our team is available to answer our investors questions during this difficult time. We are dedicated to redirecting the company into a more positive market position," said Sheffield. "Our goals will be accomplished with the utmost integrity and honesty. We invite any and all inquiries at 1-800-226-3415."
CONTACT: NVID Internaional Inc.
Mike Redden, 941/922-2386 |
