Michael Magno Appointed President of Hansen Gray Spin-Off VoiceTel Systems Inc.
RENO, Nev., Nov. 30 /PRNewswire-FirstCall/ -- Hansen Gray & Company, Inc.
(OTC Bulletin Board: HGCP) today announced that Michael Magno has been
appointed President of VoiceTel Systems, (OTC Bulletin Board: VCTI), a
developer of voice recognition software primarily for the smart home industry.
In September 2005, Hansen Gray announced plans to spin-off VoiceTel, as an
independent publicly traded company.
Michael Magno brings over 20 years of diverse business and financial
experience to VoiceTel, including expertise in retail brokerage, investment
and merchant banking and venture capital. In 1998, Mr. Magno co-founded
CyberAds, Inc., an Internet marketing company, where he was responsible for
all financial aspects of the Company including private placements and an
effective registration. Mr. Magno also served as an Officer of CyberAds and
under his leadership CyberAds generated over $15 million in sales within two
years of inception.
Mr. Magno has held the position of CEO of several public companies as well
as serving on numerous boards and providing counsel to public companies
regarding corporate strategy including restructuring, financing and marketing.
In addition, he has helped several start-up companies become fully-reporting
successful public entities.
Frank Weber, President of Hansen Gray & Company said, "I am delighted to
have someone with Mr. Magno's business experience and financial acumen as a
member of the VoiceTel management team. He will play a vital role in
evaluating and implementing strategic plans for the company."
"It is an honor for me to be named President of VoiceTel and I am very
excited to be working with the management of Hansen Gray," commented Michael
Magno.
Mr. Magno began his retail brokerage career in 1986 with J. W. Gant & Co.
In 1992, he became Vice President of Investments of Josephthal & Co., a NYSE
member firm, where he managed individual and corporate accounts, participated
in numerous IPOs and private placements. In 1998, Mr. Mango joined Brill
Securities where he made the transition from retail financial management and
trading to venture capital and investment banking.
In July 2004, Hansen Gray acquired 100% of the assets of VoiceTel Systems
and reserved the right to spin-off the company. As part of the terms of the
spin-off, shareholders of Hansen Gray received a dividend share in VoiceTel
for each share held in Hansen Gray. Shareholders in Hansen Gray will benefit
by gaining an investment in VoiceTel and by the increased value of Hansen Gray
stock reflecting the significant reduction in the number of outstanding common
shares as a result of the spin-off.
Hansen Gray recently announced that it has entered into a letter of intent
("LOI") to acquire 100% of NAPP Tour, Inc., a development stage event
management and marketing company headquartered in Las Vegas, Nevada. NAPPTour
is an entertainment company that plans to brand, host and televise national
poker tournaments and develop the first professional poker association aligned
with a national tour.
In addition, Hansen Gray & Company owns 8.6 million shares of iCurie,
Inc., (OTC Bulletin Board: ICUR), a full solution provider in the field of
thermal heat management for the PC, consumer electronics, communication and
display industries. The Company is a leader in developing and commercializing
next-generation cooling solutions built on iCurie's patents in thermofluid
nanotechnology.
SOURCE Hansen Gray & Company |
