Post by
ThaNcydeR on Mar 26, 2013 12:46am
EVRM: THE EVERMEDIA GROUP ANNOUNCES MANAGEMENT CHA
THE EVERMEDIA GROUP ANNOUNCES MANAGEMENT
CHANGES
Boston, MA – March 25, 2013- FOR IMMEDIATE RELEASE. The Evermedia Group, Inc. (OTC: EVRM), announced today that its Board of Directors has voted to remove E. Richard Weitzel, Jr. as President and Director of it’s wholly owned subsidiary, System Technology Solutions, Inc. (“STS”).
Until such time as a permanent replacement can be found, Jonathan Sym, CEO of The Evermedia Group, Inc., has been appointed interim Director and President of STS. Furthermore, Mr. Weitzel has also been removed, as Chairman of the Board and Co-President of EVRM. He remains a Director of EVRM.
The Company is in the process of conducting an ongoing examination into STS business and financial activities, particularly in the fourth quarter of 2012. The focus of the inquiry is related to previously undisclosed expenses recently reported by STS to EVRM.
These expenses significantly impacted that quarter’s net income. “ We have been working very diligently to resolve this matter,” said Jonathan Sym, CEO of The Evermedia Group. “Our focus at this time is on the reported expenses as our previously reported revenue does not appear to have been impacted. In view of our reporting obligations we have taken measures recently to expedite the process.”
Due to the on-going examination of this matter, The Evermedia Group will delay fourth quarter and annual 2012 reporting updates to OTC. For more information, please contact Briggs Smith at 813-438-5225.
The Evermedia Group, Inc. is a service-disabled, veteran-owned company providing defense and security solutions to government agencies and private entities. The Evermedia Group’s wholly owned operating subsidiaries include System Technology Solutions, Inc. and Evermedia Biometrics Corporation. Both operating subsidiaries and, by extension, the parent are designated as Service-Disabled, Veteran-Owned Small Businesses (SDVOSB) under the Veteran’s Benefit Act of 2003.
Safe Harbor Statement
Certain Statements in this press release may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the company
to be materially different from any future results, performances or achievements
expressed or implied by such forward-looking statements. The forward-looking
statements are subject to risks and uncertainties including, without limitation, changes in
levels of competition, possible loss of customers, and the company's ability to attract and
retain key personnel.
Comment by
ThaNcydeR on Mar 26, 2013 6:13pm
Small pull-back off the news today. Shake the weak, we had decent sized bids all day while someone was dropping a few shares. Closed fairly well. Next few days could get interesting...... Chart still wants to move towards double 4's off little buy pressure and L2 line-up looks thin!