Smart Move, Inc. Announces Appointment of Jeff McGonegal to Serve on Its Board of Directors
17 September 2008 - 12:06AM
PR Newswire (US)
DENVER, Sept. 16 /PRNewswire-FirstCall/ -- Smart Move, Inc.
(AMEX:MVE) announced today the appointment of Jeff McGonegal to
serve as a member of the Board of Directors and as Chairman of its
Audit Committee. The appointment will be effective as of September
15, 2008. Mr. McGonegal will replace Doug Kelsall who resigned as a
member of the Board and as Chairman of the Audit Committee
effective as of the same date in order to devote his time to other
professional endeavors that currently demand significantly more of
his time. The number of Board members remains unchanged at six
members. Mr. McGonegal was determined by Smart Move's Board to be
an "independent" director under applicable SEC and American Stock
Exchange rules and is the Audit Committee Financial Expert. Mr.
McGonegal, 57, has, since June 2003, served as the Chief Financial
Officer of AspenBio Pharma, Inc., (NASDAQ:APPY), a publicly held
biotechnology research and development company. He also serves as
Chief Financial Officer and currently as Chief Executive Officer of
Security With Advanced Technology, Inc. (NASDAQ:SWAT), a publicly
held provider of hardware and software security related products.
Mr. McGonegal also serves as Senior Vice President - Finance of
Cambridge Holdings, Ltd., a small publicly held company with
limited activities. Since 1997, Mr. McGonegal has served as
Managing Director of McGonegal and Co., a company engaged in
providing accounting and business consulting services. From 1974 to
1997, Mr. McGonegal was an accountant with BDO Seidman LLP. While
at BDO Seidman LLP, Mr. McGonegal served as managing partner of the
Denver, Colorado office. Mr. McGonegal was elected in 2005 to serve
on the board of Imagenetix, Inc., a publicly held company in the
nutritional supplements industry. He received a B.A. degree in
accounting from Florida State University. Mr. McGonegal is a
certified public accountant licensed in the state of Colorado.
"Doug Kelsall has played a key role both in relation to his Board
service and as Chair of the Audit Committee," said Chris Sapyta,
"and it is with regret and appreciation for his service that we
accept his resignation." "We are excited that Jeff McGonegal has
consented to serve on our Board and to Chair the Audit Committee,"
Sapyta added. "Jeff's vast accounting knowledge as a CPA and
extensive business experience will undoubtedly strengthen our
Board. His management experience, financial expertise and global
perspective will be invaluable to the Company, the Board and the
Audit Committee as we continue our efforts to achieve strong sales
growth and address our capital needs." About Smart Move, Inc. Smart
Move is an innovative logistics company providing services through
deployment of a fleet of Company-owned, SmartVault(TM) shipping
containers to execute the movement of goods. Smart Move utilizes
its proprietary and licensed technologies to efficiently manage its
fleet of assets, providing superior security, scheduling
flexibility and expedited service on behalf of its customers and
alliance partners. Smart Move sells its services direct to moving
consumers as well as providing moving capacity and guaranteed
logistic services to van lines and agents nation wide. Smart Move
has operations in the top 60 cities in the USA and its services are
available to over 92% of the US population. Visit Smart Move's web
site at http://www.gosmartmove.com/. Safe Harbor Statement Under
The U.S. Private Securities Litigation Reform Act Of 1995 Certain
statements in this release which are not historical facts are
forward-looking statements such as statements relating to future
operating results, existing and expected competition, financing and
refinancing sources and availability and plans for future
development or expansion activities and capital expenditures. These
"forward-looking statements" are within the meaning of the Private
Securities Litigation Reform Act of 1995. In many but not all cases
you can identify forward-looking statements by words such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "should," "will" and "would" or the
negative of these terms or other similar expressions. These
forward-looking statements include statements regarding the
company's expectations, beliefs, or intentions about the future,
and are based on information available to the company at this time.
Smart Move assumes no obligation to update any of these statements
and specifically declines any obligation to update or correct any
forward-looking statements to reflect events or circumstances after
the date of such statements or to reflect the occurrence of
anticipated or unanticipated events. Such forward-looking
statements involve a number of risks and uncertainties that may
significantly affect our liquidity and results in the future and,
accordingly, actual results may differ materially from those
expressed in any forward-looking statements. Such risks and
uncertainties include, but are not limited to, those related to the
success of our capital raising efforts and other risk factors
described from time to time in the company's periodic reports,
including its annual report filed on Form 10-KSB for the year ended
December 31, 2007 and its quarterly report on Form 10-Q for the
three month periods ended March 31, 2008 and June 30, 2008.
Investor Relations Contact: Pete Bloomquist Smart Move, Inc.
303-339-9558 DATASOURCE: Smart Move, Inc. CONTACT: Investor
Relations, Pete Bloomquist of Smart Move, Inc., +1-303-339-9558 Web
site: http://www.gosmartmove.com/
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