Ecuity (CE) (USOTC:ECUI)
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Ecuity Establishes Corporate Financial Advisory Board
Founding member named to the SEC Advisory Committee on Small Public Companies
BELLEVUE, WA, March 9 /PRNewswire-FirstCall/ -- Ecuity, Inc., (OTC BB:
ECUI.OB), a leading enhanced Voice over Internet communications company serving
the small-to-medium business and residential markets, today announced the
formation of its new Corporate Financial Advisory Board. The Corporate
Financial Advisory Board will guide the company's efforts in raising capital,
evaluation of funding opportunities, financial resources allocation, and
overall financial structure and development.
The founding members of the board are James A. "Drew" Connolly III, President,
IBA Capital Funding, Perrineville, N.J; Gary Fowler, former chief financial
officer of Expediters International of Washington, Inc.; and Shane Smith,
Chairman of the Board of Directors of Ecuity, Inc.
Mr. Connolly has just been named by U.S. Securities and Exchange Commission
Chair William H. Donaldson to the 21-member SEC Advisory Committee on Smaller
Public Companies. The SEC is establishing the advisory committee to examine the
impact of the Sarbanes-Oxley Act and other aspects of the federal securities
laws on smaller companies. Mr. Connolly is a founding member of the CEO
Council, an organization of executives of smaller public companies. Mr.
Connolly is a third generation Wall Street professional with over 25 years
experience as a capital formation specialist with smaller public companies.
Mr. Fowler brings to the board over 20 years of senior-level financial and
accounting management experience in rapid growth and/or changing environments,
from startup/early-stage to large multi-national corporations. During his
tenure as chief financial officer with Expeditors International of Washington,
Inc., he led the company through an IPO and a revenue increase from $1.5M to
$451M annually. The company was named to "The Inc. 100 Fastest- Growing Small
Public Companies" and "Forbes 200 Best Small Companies". Prior to his work at
Expeditors International, Mr. Fowler spent nine years at the large national
accounting firm of KPMG LLP, where he was a Senior Manager in the audit
division. He was member of KPMG's Professional Practice Review Committee, with
primary focus on SEC-reporting companies. Mr. Fowler has also been named as the
acting chief financial officer for Ecuity Advanced Communications.
"We are very pleased and excited to have Drew Connelly and Gary Fowler assist
us in forming the first of several advisory boards," stated Shane Smith,
Chairman of the Board, Ecuity, Inc. "We are also gratified that Gary Fowler is
joining us as a consultant as the acting CFO of our operating subsidiary
company, Ecuity Advanced Communications. As we continue the transition from a
development stage company to a mature operating entity, we are honored to
attract industry professionals such as Mr. Connelly and Mr. Fowler."
As a result of its success in delivering cutting edge Voice Over Internet
Protocol (VoIP) services to customers nationwide, Ecuity's subsidiary Ecuity
Advanced Communications was named to the 2004 "pulver 100" - which is the VoIP
industry's premiere listing of companies that represent the future of the
communications industry.
Ecuity is the first facilities-based carrier to offer complete business- class
VoIP services, including a "soft phone" and VoWiFi both nationwide and
internationally - with quality equal to or better than traditional phone
service at significant cost savings. Ecuity provides residential and business
class VoIP, broadband services, technical support, centralized billing and
superior customer service. It offers both Centrex call features and traditional
equipment based PBX call services.
About Ecuity, Inc. (http://www.ecuityinc.com/)
Ecuity is a provider of end-to-end unified communication technologies for the
small- to medium-business market. Ecuity uses secure next-generation voice
services, instant messaging, data transfer, internet, conference calling and
enterprise software to create solutions that meet the communication needs of
today's business world. As a facilities-based carrier, Ecuity has operated as a
traditional telephone company for 17 years, providing service to thousands of
customers in the Northwest.
Through the integration of web-based telecommunications and cutting-edge
software technology, Ecuity economically delivers secure unified communication
solutions that break down distance, time and media barriers to allow people to
communicate anywhere, anytime and across multiple mediums. Ecuity has offices
in Bellevue and Seattle, Washington.
This report includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. The information in this news release includes
certain forward-looking statements that are based upon assumptions that in the
future may prove not to have been accurate and are subject to significant risks
and uncertainties, including statements as to the future performance of the
company. Although the company believes that the expectations reflected in its
forward-looking statements are reasonable, it can give no assurance that such
expectations or any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not limited to,
successful performance of internal plans, product development acceptance, and
the impact of competitive services and pricing and general economic risks and
uncertainties.
For more information, please contact:
For Ecuity:
Jennifer Stephens
Telephone: (206) 210-5033
Investor Relations
Truc Nguyen
VP, Investor Relations
Stern & Co.
Telephone: (212) 888-0044
Media Relations
Stan Froelich
VP, Media Relations
Stern & Co.
Telephone: (212) 888-0044
DATASOURCE: Ecuity, Inc.
CONTACT: For Ecuity: Jennifer Stephens, Telephone: (206) 210-5033,
; Investor Relations: Truc Nguyen, VP,
Investor Relations, Stern & Co., Telephone: (212) 888-0044,
; Media Relations: Stan Froelich, VP, Media Relations,
Stern & Co., Telephone: (212) 888-0044,