Science & Technology
Science and Technology
Science and Technology
Fri, May 7, 2010
Thu, May 6, 2010 C$ cMoney Completes Merger With Bonfire Productions and Announces New Executive Leadership Team
HOUSTON--([ BUSINESS WIRE ])--cMoney, Inc., a development stage mobile technology company based in Houston - completed a previously announced merger and appointed its executive leadership team - two milestones that showcase the companya™s goals and growth.
"Jennifer has done a marvelous job of assembling a management team that will take C$ cMoney to the next level"
Bonfire Productions Merger
C$cMoney confirmed that it completed its merger with Bonfire Productions, Inc (OTCBB:BNFR). The combined companies will operate under the C$ cMoney brand name with the corporate headquarters located in Houston.
Executive Management Team
C$ cMoney announced it has named Lawrence Krasner as president and chief executive officer. Formerly a partner with CSC Consulting in New York City, Krasner is a veteran of the financial services industry who brings over 23 years of experience to the companya™s new executive leadership team. The new executive management team also includes: David R. Johnson, chief financial officer; Jamal Khawaja, chief technology officer; and Thomas Shaw, senior vice president of marketing. Jennifer Pharris, founder of C$ cMoney and current acting CEO, will continue to serve as chairman of the company.
aThis team possesses deep experience, global backgrounds, consistent business success in highly competitive environments, and the passion and intensity required to execute the launch of our new mobile payment platform,a Pharris said. aI am especially pleased that Lawrence Krasner has joined our team as president and chief executive officer. His background and expertise will prove invaluable as the company grows and develops.a
aJennifer has done a marvelous job of assembling a management team that will take C$ cMoney to the next level,a Krasner said. aI am looking forward to working with her to further develop this company and to see her innovative concept come to fruition.a
As the president and chief executive officer, Lawrence Krasner will oversee the strategic direction of C$ cMoney, working in tandem with the Board of Directors and acting as the official spokesperson. During his tenure at CSC Consulting, Krasner managed the development of a multi-billion dollar capital markets integration program for a global investment banka™s private wealth management group. Prior to CSC Consulting, he served as senior vice president and group head of an internal projects team with Lehman Brothers, managing a portfolio of global strategic initiatives. Krasner also held executive-level management positions with Ernst & Young, J.P. Morgan Chase and McKinsey & Co.
In his new role as chief financial officer, David R. Johnson will oversee C$ cMoneya™s financial activities, directing various financial systems and programs to ensure maximum financial efficiency. He joins the company from Catapult CFO Partners, a CFO-only consulting firm supporting medium-sized businesses in the U.S. and Canada, where he served as partner. Prior to this, Johnson was a partner with Tatum LLC, a major professional services provider of financial leadership in the U.S.
As the chief technology officer for C$ cMoney, Jamal Khawaja is responsible for establishing the companya™s internal and external technical vision, leading all aspects of the companya™s technology development. He most recently served as senior vice president for engineering, operations and global infrastructure strategy for Bank of America in Charlotte, N.C. While at Bank of America, Khawaja led a cross-functional team of managers and architects to design a next-generation datacenter for the banking giant. Khawaja also held positions at Infinitous Global, Accenture, BP, ExxonMobil, ConocoPhillips and Sun Microsystems.
Leading the sales and marketing team, Thomas Shaw is responsible for the direction and management of all sales and business development operations including in-bound and out-bound marketing activities worldwide. Previously, Shaw was an adviser and consultant to Accenture in the companya™s marketing best practices and marketing services procurement sections, working with clients like Comerica and First Tennessee Bank. He also held leadership positions with CREDITREPORT.com and REOTrans.com.
About cMoney, Inc.
cMoney, Inc. is a Houston-based technology company that has developed a new and innovative way to send money and pay for goods and services using a cell phone and the text messaging system. Scheduled to launch this summer, the pioneering technology will create a avirtual walleta that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks or credit cards are accepted. For more information, visit [ www.cmoney.com ].
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of Bonfire Productions, Inc. (athe Companya) to effectively compete; the timing and effectiveness of the planned launch of the new C$ cMoney product; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; adverse results in litigation; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at [ http://www.sec.gov ]), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
